Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Q1 2018 Earnings Presentation
25 slides from Asml Holding Nv's earnings presentation, Apr 18, 2018
Slide 1: ASML 2018 First-Quarter Results
Strong DUV demand drives solid Q1 results and confirms positive outlook for 2018 Multiple EUV orders, including High-NA, demonstrate further adoption of EUV technology ASML 2018 First-Quarter Results Veldhoven, the Netherlands April 18, 2018 Public
Slide 2: Agenda
Public Slide 2 April 18, 2018 Agenda • Investor key messages • Business highlights • Outlook • Product highlights • Financial statements
Slide 3: Investor key messages
Public Slide 3 April 18, 2018 Investor key messages
Slide 4: Investor key messages
Public Slide 4 April 18, 2018 Investor key messages • Shrink is a key industry driver supporting innovation and providing long term industry growth • Lithography enables affordable shrink and therefore delivers compelling value for our customers • EUV will enable continuation of Moore’s Law and will
Slide 5: Business highlights
Public Slide 5 April 18, 2018 Business highlights
Slide 6: Q1 results summary
Public Slide 6 April 18, 2018 Q1 results summary • Net sales of € 2,285 million, net systems sales valued at € 1,668 million, Installed Base Management sales at € 617 million • Gross margin of 48.7% • Operating margin of 28.1% • Net income as a percentage of net sales of 23.6% • Net bookings of € 2,
Slide 7: Net system sales breakdown in value
Public Slide 7 April 18, 2018 Net system sales breakdown in value Q1’18 total value € 1,668 million Q4’17 total value € 1,955 million - Lithography systems do not include metrology and inspection systems - Logic equals our Foundry and IDM sales - As of January 1, 2018, ASML has adopted the new Reven
Slide 8: Total net sales by end-use
Public Slide 8 April 18, 2018 Logic Memory Total net sales million € by End-use Installed Base Management - Installed Base Management equals our service and field option sales - Logic equals our Foundry and IDM sales - As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC
Slide 9: Bookings activity by End-use
Public Slide 9 April 18, 2018 Bookings activity by End-use Q1’18 total value € 2,442 million Q4’17 total value € 2,935 million Lithography systems New Used Units 55 7 Lithography systems New Used Units 68 7 - Lithography systems do not include metrology and inspection systems - Logic equals our Foun
Slide 10: Capital return to shareholders
Public Slide 10 April 18, 2018 • Proposal submitted to 2018 Annual General Meeting of Shareholders to pay a dividend of € 1.40 per ordinary share, for a total of around € 600 million, in respect of fiscal year 2017 • € 170 million worth of shares has been repurchased in Q1 • € 2,330 million of the 2
Slide 11: Outlook
Public Slide 11 April 18, 2018 Outlook
Slide 12: Q2 Outlook
Public Slide 12 April 18, 2018 Q2 Outlook • Q2 2018 net sales between € 2.5 billion and € 2.6 billion ◦ Including EUV revenue around € 600 million • Gross margin around 43% • R&D costs of about € 375 million • SG&A costs of about € 115 million • Effective annualized tax rate around 14%
Slide 13: Product highlights
Public Slide 13 April 18, 2018 Product highlights
Slide 14: EUV commitment to volume manufacturing continues
Public Slide 14 April 18, 2018 EUV commitment to volume manufacturing continues Customers commitment to insert EUV in volume manufacturing by ordering systems ASML commitment to securing system performance, shipments and support required for volume manufacturing • 3 EUV systems shipped in Q1, 1 ship
Slide 15: Continuing progress on our EUV productivity roadmap
Public Slide 15 April 18, 2018 Continuing progress on our EUV productivity roadmap NXE:3400B Acceptance Test Procedures (ATP) test: 26x33mm2, 96 fields, 20mJ/cm2
Slide 16: High-NA commitment secures lithography roadmap beyond the next decade
Public Slide 16 April 18, 2018 High-NA commitment secures lithography roadmap beyond the next decade • Extension of EUV with High-NA lithography enables the IC industry to continue to drive down cost per function by improving imaging, overlay and productivity ◦ NA (numerical aperture) of the new opt
Slide 17: Applications Product Highlights
Public Slide 17 April 18, 2018 Applications Product Highlights • Initial ePfm5 customer evaluation data shows significant measurement cycle time reductions • Shipped our first YS:1375 for In Device Measurement • First 3x3 multi-beam images captured on proof of concept system • YieldStar metrology sy
Slide 18: Multi-beam enables further throughput scaling
Public Slide 18 April 18, 2018 Multi-beam enables further throughput scaling First 3x3 multi-beam image captured, ~9x increase in throughput capability Surface inspected by 9 beamsSurface inspected by 1 beam 9x 1 4 7 2 5 8 3 6 9 1 beam number Demonstrated 9 uniform images
Slide 19: YieldStar metrology system growth further accelerates with memory adoption
Public Slide 19 April 18, 2018 YieldStar metrology system growth further accelerates with memory adoption 2013 shipments 2017 shipments
Slide 20: Financial statements
Public Slide 20 April 18, 2018 Financial statements
Slide 21: Consolidated statements of operations
Public Slide 21 April 18, 2018 Consolidated statements of operations M€ Q1 2017 1 Q2 2017 1 Q3 2017 1 Q4 2017 1 Q1 2018 Net sales 1,944 2,101 2,447 2,561 2,285 Gross profit 925 946 1,050 1,156 1,113 Gross margin % 47.6 45.0 42.9 45.2 48.7 Other income 2 24 24 24 24 — R&D costs (315) (313) (315) (317
Slide 22: Consolidated statements of Cash flows
Public Slide 22 April 18, 2018 Consolidated statements of Cash flows M€ Q1 2017 1 Q2 2017 1 Q3 2017 1 Q4 2017 1 Q1 2018 Net income 452 466 557 644 540 Net cash provided by (used in) operating activities (168) 530 400 1,037 191 Net cash provided by (used in) investing activities 150 (754) (72) (533)
Slide 23: Consolidated Balance sheets
Public Slide 23 April 18, 2018 Consolidated Balance sheets M€ Assets Q1 2017 1 Q2 2017 1 Q3 2017 1 Q4 2017 1 Q1 2018 Cash & cash equivalents and short-term investments 3,836 2,514 2,678 3,288 3,194 Net accounts receivable and finance receivables 1,426 1,758 2,066 2,096 2,025 Contract assets — — — —
Slide 24: Forward-looking statements
Public Slide 24 April 18, 2018 This document contains statements relating to certain projections, business trends and other matters that are forward-looking, including statements with respect to expected trends and outlook, bookings, expected financial results and trends, including expected sales, E
Slide 25: ASML
ASML