Slide 1: ASML Fourth Quarter and 2010 Annual Results
ASML Fourth Quarter and 2010 Annual Results Record backlog supports a strong 2011 January 19, 2011 / Slide 1
Slide 2: Safe Harbor
Safe Harbor "Safe Harbor" Statement under the US Private Securities Litigation Reform Act of 1995: the matters discussed in this document may include forward-looking statements, including statements made about our outlook, realization of backlog, IC unit demand, financial results, average selling pr
Slide 3: Agenda
Agenda Business summary Market ASML business update Outlook and summary / Slide 3
Slide 4: Business summary
Business summ ; / Slide 4 % ss ASML
Slide 5: Q4 results - highlights
Q4 results - highlights Net sales of € 1,521 million, 69 systems shipped valued at € 1,313 million, service revenue at € 208 million Gross margin of 45.0% Operating margin of 32.4% Shipped 28 immersion systems Net bookings are valued at € 2,315 million with 117 systems (see slide 12) Backlog increas
Slide 6: Net sales
Total net sales M€ 5,000 4,508 4,500 4,000 3,768 3,582 1,521 3,500 955 2,954 Q4 3,000 1,053 Net sales 2,529 494 Q3 2,500 1,176 934 548 697 Q2 2,000 958 533 1,596 Q1 1,500 930 844 581 1,069 763 942 1,000 555 500 949 919 685 629 277 742 183 0 2005 2006 2007 2008 2009 2010 Numbers have been rounded for
Slide 7: Net system sales breakdown in value: Q4 2010
Net system sales breakdown in value: Q4 2010 Technology Sales in Units ArF KrF immersion19% 29 25 83% ArF ArF dry 9% 6 9 Immersion I-Line 2% 70% ArF ArF dry KrF I-Line immersion Region End-use Europe 4% USA 11% NAND Korea 18% Japan Foundry 26% 12% 30% Singapore 5% DRAM IDM 4% Taiwan China 4% 48% 38%
Slide 8: Consolidated statements of operations M€
Consolidated statements of operations M€ Q3 10 Q4 10 2009 2010 Net sales 1,176 1,521 1,596 4,508 Gross profit 513 685 458 1,955 Gross margin % 43.6% 45.0% 28.7% 43.4% R&D costs 137 141 467 523 SG&A costs 48 50 154 181 Income (loss) from operations 328 494 (163) 1,251 Operating income % 27.9% 32.4% -
Slide 9: Key financial trends 2009 – 2010
Key financial trends 2009 – 2010 Consolidated statements of operations M€ Q4 09 Q1 10 Q2 10 Q3 10 Q4 10 Net Sales 581 742 1,069 1,176 1,521 Gross profit 220 298 459 513 685 Gross margin % 38.0% 40.3% 43.0% 43.6% 45.0% R&D costs 115 120 125 137 141 SG&A costs 37 41 42 48 50 Income from operations 68
Slide 10: Cash flows M€
Cash flows M€ Q3 10 Q4 10 2009 2010 Net income (loss) 269 407 (151) 1,022 Adjustments to reconcile net income (loss) to net cash flows from operating activities; Impairment and obsolescence 16 12 103 64 Depreciation and amortization 41 40 142 151 Deferred income taxes 41 (43) (49) 28 Other non-cash
Slide 11: Balance sheets M€
Balance sheets M€ Assets Dec 2009 Dec 2010 Cash and cash equivalents 1,037 28% 1,950 32% Accounts receivable, net 377 10% 1,124 18% Finance receivables, net 22 1% 42 1% Inventories, net 963 26% 1,497 24% Other assets 296 8% 449 7% Tax assets 264 7% 218 3% Fixed assets 805 20% 900 15% Total assets 3,
Slide 12: Backlog and bookings to better represent future sales potential
Backlog and bookings to better represent future sales potential ASML will report from Q4 2010 full order values which include all contract-committed items that are associated with a system sale Not included in the order book and backlog will still be the separate service and field options orders for
Slide 13: Backlog: value and litho units
Backlog: value and litho units Backlog value Units 4,000 400 3,500 350 3,000 300 Backlog value M€ Backlog in units 2,500 250 2,000 200 1,500 150 1,000 100 500 50 0 0 Jan 05 Jan 06 Jan 07 Jan 08 Jan 09 Jan 10 Jan-11 Jul 05 Jul 06 Jul 07 Jul 08 Jul 09 Jul 10 57 % of backlog or € 2,208 million system s
Slide 14: Backlog in value per December 31, 2010
Backlog in value per December 31, 2010 Total value M€ 3,856 Technology KrF 22% I-Line 1% ArF dry 6% ArF immersion End-use 71% Region (ship to location) Japan 4% IDM USA Singapore 13% 21% Foundry 28% 33% Europe 11% DRAM Taiwan 27% NAND 23% China 10% 19% Korea 11% Numbers have been rounded for readers
Slide 15: Bookings activity by sector - total value M€ 2,315
Bookings activity by sector - total value M€ 2,315 Bookings in value Bookings in units NAND 30% DRAM NAND 16% 28% DRAM Foundry IDM 6% 11% 48% IDM Foundry 11% 50% Booked 104 new tools at € 2,250 million, 13 used at € 65 million Numbers have been rounded for readers’ convenience. / Slide 15
Slide 16: Market
/ Slide 16 ¥ ys ASML
Slide 17: All sectors are ramping their new nodes
All sectors are ramping their new nodes Wafer starts per node 100% DRAM 100% NAND 80% 2x 80% 1x 3x 22 60% 60% 4x 28 40% 5x 40% 3x 6x 4x 20% 7x 20% 5x 0% 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2011 2011 2011 2012 2012 2012 2012 2011 2011 2011 2011 2012 2012 2012 2012 Logic MPU 100% 1
Slide 18: New fab litho opportunity
New fab litho opportunity 13 fabs projects representing € 7.0 billion of litho (2011-2012) Fab Projects Estimated litho spend to completion Samsung DRAM Rexchip 1.5 billion Euro Hynix Toshiba NAND Samsung 2.0 billion Euro Hynix IMFS TSMC Samsung Foundry + Global Foundries 3.5 billion Euro IDM UMC Hu
Slide 19: ASML business update
ASML business update / Slide 19
Slide 20: Technology - TWINSCAN NXT
Technology - TWINSCAN NXT Productivity at specified 175 wafers per hour, 3 nm overlay FlexRay, programmable illuminator, shipping in high volume System production capacity increasing by cycle time improvement and cabin conversions Q4 NXT shipments surpassed Q4 XT immersion for the first time / Slide
Slide 21: Technology - EUV
Technology - EUV The first NXE:3100 is successfully exposing wafers at a customers manufacturing site Five additional NXE:3100 systems are planned to ship in next several months Orders received for 9 NXE:3300 production systems to be delivered in 2012 EUV is now confirmed to be the most likely litho
Slide 22: Cash return
Cash return Announcing a share buy back program of up to € 1 billion executed within a 2 year timeframe Proposed dividend for 2010 of € 0.40 per ordinary share (approx. € 175 million) vs. € 0.20 per share in 2009 / Slide 22
Slide 23: Outlook and summary
Outlook and summary / Slide 23
Slide 24: Q1 2011 outlook
Q1 2011 outlook Net sales expected around € 1.4 billion Gross margin expected between 44% and 45% R&D is expected at € 145 million SG&A is expected at € 55 million Current backlog plus expected Q1 bookings confirm a potential for more than € 5 billion of net sales in 2011 / Slide 24
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