Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Bank of America 36th Annual Investment Conference 2006
24 slides from Asml Holding Nv's conference presentation, Oct 4, 2006
Slide 1: Bank of America 36th Annual Investment Conference
Bank of America 36 th Annual Investment Conference San Francisco, CA – Sept 20, 2006 Craig DeYoung VP Investor Relations
Slide 2: Safe Harbor
Safe Harbor “Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995: the matters discussed in this presentation may include forward-looking statements that are subject to risks and uncertainties including, but not limited to: economic conditions, product demand and se
Slide 3: ASML today
ASML today Market Update Lithography leadership Long term growth trajectory
Slide 4: Market Update
Market Update
Slide 5: Most business drivers point to sustained ASML revenues mid term
Most business drivers point to sustained ASML revenues mid term IC Semiconductor unit growth Inventory, Utilization and Lithography purchasing intensity Balanced segmentation of customers Market Share opportunity
Slide 6: Semiconductor Units history and forecast
Semiconductor Units history and forecast 2006 Semiconductor growth driven by higher unit sales (+16%) 25% -21% 14% 9% 18% 4% 16% 7% Source: ASML MCC Semiconductor unit Forecats Semiconductor Units Unit Trend
Slide 7: IC unit sales and inventory
IC unit sales and inventory Inventories reasonably under control Source: WSTS, VLSIResearch, ASML Last data point: June 2006
Slide 8: Utilization remains high and is under constant monitor
Utilization remains high and is under constant monitor Sources: SiCAS (August 2006) Quarter Memory utilization Foundry utilization
Slide 9: Litho Bookings and Billings as % of Semiconductor Revenue
Litho Bookings and Billings as % of Semiconductor Revenue Relative spending rising but within controlled range Source: SEMI, WSTS, ASML Last data point: June 2006 Expose & Write Bookings and Billings as % of Semiconductor sales 0% 1% 2% 3% 4% 5% 6% E&W bookings as % of Semi $Sadj 3MMA E&W billings a
Slide 10: New fab capacity and equipment take-in by customer
Max.Capacity [KWSPM] Node [nm] Wafer size [mm] Main application Name of Factory Customer Quarter/Year equipment take-in Memory/Flash SP-1 SPANSION Q1/2007 350-180 Logic Fab 11 SMIC Q1/2007 Memory/Flash M11/R3 HYNIX Q3/2006 Micro Fab 32 INTEL Q4/2006 Memory/Flash Fab 2 (Lehi) IM Flash Q3/2006 Logic F
Slide 11: Growth from Multiple independent Segments
Growth from Multiple independent Segments Each Segment with its own investment cycle Flash shrink - 12 to 15 month investment cycle DRAM – closely follows Flash investment cycle Foundries represent classic supply/demand cycle Moore’s law, 18 to 24 months - invest for new product development - volume
Slide 12: Strong Drivers lead to ASML Guidance Upside
Strong Drivers lead to ASML Guidance Upside (press release 9/06/06) Q3 ‘06 Bookings at about Q2 ‘06 order intake level - In Q2 ASML booked 93 orders Strong demand from memory makers Bookings across ASML 300mm product line Bookings support customer’s New Fab ramps 75% of new orders will be for shipme
Slide 13: Lithography Leadership
Lithography Leadership
Slide 14: ASML overview
ASML overview The world’s leading supplier of Lithography equipment Key facts: Headquarters: Veldhoven, the Netherlands Revenue 2005 ~ €2.5 B Market cap ~ €8.5 B Employees 5200 Leaders in Innovation ASML TWINSCAN Growing market share (revs) Dual Stage enables: Superior T-Put Superior Overlay
Slide 15: Market share gains through immersion lithography and value of ownership
Market share gains through: Immersion lithography Superior Value of Ownership ArF, KrF and I-line Japan 8” & i-line 6” & early i-line Leadership - Market share growth opportunity Source: Gartner Dataquest, ASML 12” & ArF KrF & Step & Scan 0% 10% 20% 30% 40% 50% 60% 70% 1984 1987 1990 1993 1996 1999
Slide 16: Maintaining Technology Leadership - R&D spend versus total revenue
Maintaining Technology Leadership - R&D spend versus total revenue R&D costs exclude settlement with Nikon Corp. in 2004 and reflect costs for continuing operations 1000 1500 2000 2500 3000
Slide 17: TWINSCAN XT:1700i Enabling 45nm production
TWINSCAN XT:1700i Enabling 45nm production ASML wet + dry ArF market share 68% Source: ASML – market shares are value based in 2005
Slide 18: TWINSCAN creating value in non and mid critical applications
TWINSCAN ™ creating value in non and mid critical applications XT:400E Resolution: 350nm Throughput: 129wph Lowest CoO in 300mm i-line XT:760F Resolution: 130nm Throughput: 134wph Superior CoO in 300mm KrF ASML i-line market share 29% ASML KrF market share 51% Source: ASML – market shares are value
Slide 19: Long-Term Trajectory
Long-Term Trajectory
Slide 20: Lithography Equipment - a growing market with three major value drivers
Lithography Equipment - a growing market with three major value drivers Accelerating roadmap TWINSCAN 1900i Double exposure EUV: ADT and production tools New architecture Alternative shrink solutions require more litho tools Spacer Tri-dimensional devices Vertical gate Stringent Overlay Performance
Slide 21: Litho share of equipment trend approaching 18% level
Source: SEMI Last data point: June 2006 Expose & Write as % of Total Equipment Litho share of equipment trend approaching 18% level ! Expose & Write Equipment Sales as % of Total Equipment Sales 10% 12% 14% 16% 18% 20% 22% 24% 26% Expose & Write as % of Total Equipment Expon. (Expose & Write as % of
Slide 22: Natural growth potential towards 4-5 B€ range
Natural growth potential towards 4-5 B € range ASML’s opportunity window ASML press release Revenue 2006 3.5 B€ ASML’s growth potential Source: Average of Dataquest, VLSI Research and ASML fab based model Jan.2006 – NOT A FORECAST Average WW litho sales ASML’s potential Status quo Assumption: 9% IC
Slide 23: ASML is well positioned for value generation
ASML is well positioned for value generation Business Model based on Technology Leadership enabled by accumulated experience and scale Technology focus Cost reduction Lead time differentiation Semiconductor cycle effect reduced by Moderating cycles – as forecasted by analyst community for 2006-2007
Slide 24: Commitment
Commitment
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