Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Shareholder Meeting (April 2025)
73 slides from Asml Holding Nv's shareholder meeting presentation, Apr 23, 2025
Slide 1: Annual General Meeting of ASML Holding NV
Annual General Meeting of ASML Holding NV Veldhoven, the Netherlands April 23, 2025
Slide 2: Forward looking statements
Forward looking statements This document and related presentation and discussion and other discussions at our annual general meeting 2025 contain statements that are forward-looking within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to
Slide 3: Opening of the Annual General Meeting
Opening of the Annual General Meeting of ASML Holding NV (Non-voting item) April 23, 2025 Page 3 Public
Slide 4: Overview of the Company's business, financial situation and ESG sustainability
Overview of the Company’s business, financial situation and ESG sustainability (Non-voting item) April 23, 2025 Page 4 Public
Slide 5: Outlook for AI and semicon industry
Outlook for AI and semicon industry Christophe Fouquet President and CEO April 23, 2025 Page 5 Public
Slide 6: Customer needs addressed with a flexible and versatile portfolio
• The semiconductor industry remains strong. Artificial intelligence is expected to create further AI has become opportunity as major investments in supercomputing are happening, and the entire industry is the main industry driver preparing to insert AI in all critical future applications and create
Slide 7: From chips everywhere to AI chips everywhere
We see our society going from chips everywhere to AI chips everywhere Generative AI opens endless opportunities, expected to add $6-13T value to GDP by 2030* Voici Reachy 2 Social and Pollen Robotics economic shifts Automation Electrification, AI powered Working, learning plant box smart mobility re
Slide 8: Global semi sales >$1T by 2030
We reconfirm our view calling for global semi sales >$1T by 2030 Major investments are ongoing in AI, the exact pace of its roll-out to consumer products is still unknown Healthcare, medical tech Smarter use of ? Semi Sales >1T$ Working, limited resources 1000 learning remotely 900 High Semi Sales [
Slide 9: AI has strong potential to drive entire industry forward
AI has strong potential to drive entire industry forward across many applications Mainstream markets grow in volume while high performance continues to follow Moore's law SPECIALTY MEMORY Mainstream LOGIC 300 mm EU IRL JP KR 200 mm 300 mm US US TW ANALOG Healthcare, medical tech CN Smarter use of PO
Slide 10: Average patterning cost per layer
NXE:3800E EUV 0.33 NAmeeting can enable full specifications further multi-patterning at 220wph,to>30% single improvement expose conversion from Resulting in cost,generation the previous yield and cycle time benefits for our customers Cost of multi-patterning LOGIC (LE-LE-LE – layer) Cost of single e
Slide 11: EXE:5000 High NA EUV
5 EXE:5000 High NA EUV High willNA further EUVextend systems single shipped expose to 3capability different customers for advanced for logic qualification, R&D and memory nodes first EXE:5200 High NA EUV systems to ship in 2025 0.33 NA 0.55 NA Two metal layers (1D) and additional via 0.55 NA resolut
Slide 12: High NA EUV will further extend single expose capability
High NA EUV will further extend single expose capability for advanced logic and memory nodes 0.33 NA 0.55 NA Two metal layers (1D) and additional via 0.55 NA resolution and contrast layer required to connect 3 transistors High NA Logic metal: enables single expose of 2D metal, ~35% cost benefit and
Slide 13: Continue to increase our DUV value offering
While We continue transition to increase to EUV single our DUV expose valuecontinues offering to foraddress Logic and ourDRAM customer new challenges, critical layers, allincluded other layers Advanced are patterned Packaging using DUV technology In 2024: • KrF: We shipped the first NXT:870B capable
Slide 14: DUV value offering including Advanced Packaging
We continue to increase our DUV value offering to address our customer new challenges, included Advanced Packaging In 2024: • KrF: We shipped the first NXT:870B capable of a throughput of over 400 wafers per hour • ArFi: We shipped the NXT:2150i, running at over 310 wafers per hour with an overlay o
Slide 15: Multibeam enables higher throughput in inspection
Multibeam enables higher throughput and larger wafer coverage in voltage contrast and physical inspection for inline defect monitoring in HVM E-beam visualization enlarged 10x for illustration purposes eScan 2200 10x throughput 100x throughput eScan 1100 Single Beam Inspection Page 15 April 23, 2025
Slide 16: Building our capacity for future growth
Laying the foundations for future growth by building our capacity Selection of our expansion projects in 2024 US Europe Asia Wilton: The Netherlands: Germany: Taiwan: South Korea: Campus expansion Veldhoven, cleanroom Berlin, expansion of New Taipei campus New campus Hwaseong campus San Diego: The N
Slide 17: ASML aims to increase its engagement with communities
ASML aims to increase its engagement with communities ASML and communities benefit from each other’s presence and support each other’s development Attractive & Inclusive STEM ESG innovation Employee giving communities Contribute to positive improvements and Increase the talent pool that society need
Slide 18: Overview of the Company's business, financial situation and ESG sustainability
Overview of the Company’s business, financial situation and ESG sustainability (Non-voting item) April 23, 2025 Page 18 Public
Slide 19: Financials, Growth and Sustainability
Financials, Growth and Sustainability Roger Dassen Executive Vice President and CFO April 23, 2025 Page 19 Public
Slide 20: FY 2024 – Key Financial and Product Highlights
FY 2024 – Key Financial and Product Highlights EUV lithography: Full Year 20241 • EUV system sales reduced 9% to €8.3 billion • Shipped and recognized revenue from multiple EXE:5000 and Total net sales €28.3 billion NXE:3800 systems Net system sales €21.8 billion DUV lithography: • DUV system sales
Slide 21: FY 2023 and 2024 – Net system sales breakdown
FY 2023 and 2024 – Net system sales breakdown (Yearly) 2024 Net system sales €21,769 million 2023 Net system sales €21,939 million April 23, 2025 January 29, 2025 Page 21
Slide 22: FY 2020-2024 – Total net sales by End-use
FY 2020 - 2024 – Total net sales by End-use Installed Base Management1 Logic Memory April 23, 2025 January 29, 2025 1 Installed Base Management equals our net service and field option sales. Page 22
Slide 23: Cash returned to shareholders
Cash returned to shareholders • n 2024, ASML paid total dividends of €2.5 billion, consisting of 2023 final dividend and three interim dividends, and purchased €0.5 billion of shares • ASML intends to declare a total dividend for the year 2024 of €6.40 per ordinary share. Recognizing three interim d
Slide 24: Q1 2025 – Summary of financial results
Q1 2025 – Summary of financial results Q1 2025 Total net sales €7.7 billion Net system sales €5.7 billion Installed Base Management1 sales €2.0 billion Gross Margin 54.0% Operating margin2 35.4% Net income as a percentage of total net sales 30.4% Earnings per share (basic) €6.00 Net bookings3 €3.9 b
Slide 25: Q4 2024 and Q1 2025 – Net system sales breakdown
Q4 2024 and Q1 2025 – Net system sales breakdown (quarterly) Q1’25 Net system sales €5,740 million Q4’24 Net system sales €7,116 million AprilApril 23, 2025 16, 2025 Page 25 Public
Slide 26: Q2 2025 and FY 2025 Outlook
Q2 2025 and FY 2025 Outlook Q2 2025 Total net sales between €7.2 billion and €7.7 billion of which Installed Base Management1 sales around €2.0 billion Gross margin2 between 50% and 53% R&D costs around €1.2 billion SG&A costs around €300 million FY 2025 Total net sales between €30 billion and €35 b
Slide 27: Growth and Sustainability
Growth and Sustainability
Slide 28: Preparing for the future: Access to talent remains key
Preparing for the future: Access to talent remains key ASML invests in future talent for the semiconductor industry around the world To support our long-term growth, we are expanding our programs and partnerships to attract new talent and establish ASML as an employer of choice. In addition, we are
Slide 29: Our progress in 2024: Team ASML around the world
Our progress in 2024: Team ASML around the world ASML’s global workforce as per end of 2024 US EMEA NL ASIA 2023: 8,225 2023: 25,085 2023: 22,860 2023: 9,110 2024: 8,480 2024: 25,850 2024: 23,590 2024: 9,700 (incl. NL) 40% non-Dutch 124 nationalities Total worldwide 148 nationalities 2023: 42,420 20
Slide 30: Advancing our ESG Sustainability agenda
Advancing our ESG Sustainability agenda1 ASML made progress on key energy and climate projects; introduced sea shipment for DUV Environment Social Governance Highlights 2024 Highlights 2024 Highlights 2024 • Reduced scope 1 and 2 emissions from • Employee engagement score of 78.9% (3 • First Annual
Slide 31: Overview of the Company's business, financial situation and ESG sustainability
Overview of the Company’s business, financial situation and ESG sustainability (Non-voting item) April 23, 2025 Page 31 Public
Slide 32: Financial statements, results and dividend
Financial statements, results and dividend April 23, 2025 Page 32 Public
Slide 33: Advisory vote on the remuneration report
Advisory vote on the remuneration report for the Board of Management and the Supervisory Board for the financial year 2024 (Voting item) April 23, 2025 Page 33 Public
Slide 34: Remuneration Report 2024
2024 Remuneration Report Terri Kelly, Chair Remuneration Committee April 23, 2025 Page 34 Public
Slide 35: Remuneration Report 2024
Remuneration Report 2024 Summary The Remuneration Report 2024 Key workstreams of the Remuneration Main elements of the execution of for the Board of Management Committee the Board of Management and the Supervisory Board Remuneration Policy in 2024: • Engaging with our internal and external complies
Slide 36: Short-Term Incentive Board of Management 2024
Short-Term Incentive Board of Management 2024 Result: 136.1% of target April 23, 2025 Page 36 Public
Slide 37: Long-Term Incentive Board of Management 2022-2024
Long-Term Incentive Board of Management 2022-2024 Result: 132.3% of target April 23, 2025 Page 37 Public
Slide 38: Advisory vote on the remuneration report
Advisory vote on the remuneration report for the Board of Management and the Supervisory Board for the financial year 2024 (Voting item) April 23, 2025 Page 38 Public
Slide 39: Proposal to adopt the financial statements
Proposal to adopt the financial statements of the Company for the financial year 2024, as prepared in accordance with Dutch law (Voting item) April 23, 2025 Page 39 Public
Slide 40: AGM ASML Holding N.V. April 2025
AGM Presentation ASML Holding N.V. 23 April 2025 Public
Slide 41: Our audit process
Our audit process 01. Our reports 02. Materiality rts IFRS Financial statements r epo 02 Materiality of EUR 350 million (2023: EUR 350 million) r .M • Unqualified auditor’s report on consolidated Ou • 3.5% of 2024 income before income taxes and parent company financial statements 1. • at Misstatemen
Slide 42: Audit observations
Audit observations Fraud risks and approach Key audit matter • We identified inherent fraud risks in respect of revenue recognition and management override of controls • Revenue recognition: Identification of distinct performance • No indications and/or reasonable suspicion of fraud or obligations i
Slide 43: Proposal to adopt the financial statements
Proposal to adopt the financial statements of the Company for the financial year 2024, as prepared in accordance with Dutch law (Voting item) April 23, 2025 Page 43 Public
Slide 44: Clarification of reserves and dividend policy
Clarification of the Company’s reserves and dividend policy (Non-voting item) April 23, 2025 Page 44 Public
Slide 45: Proposal to adopt a dividend for 2024
Proposal to adopt a dividend in respect of the financial year 2024 (Voting item) April 23, 2025 Page 45 Public
Slide 46: Discharge
Discharge April 23, 2025 Page 46 Public
Slide 47: Proposal to discharge the Board of Management
Proposal to discharge the members of the Board of Management from liability for their responsibilities in the financial year 2024 (Voting item) April 23, 2025 Page 47 Public
Slide 48: Proposal to discharge the Supervisory Board
Proposal to discharge the members of the Supervisory Board from liability for their responsibilities in the financial year 2024 (Voting item) April 23, 2025 Page 48 Public
Slide 49: Discharge
Discharge April 23, 2025 Page 49 Public
Slide 50: Proposal to approve the number of shares for the Board of Management
Proposal to approve the number of shares for the Board of Management (Voting item) April 23, 2025 Page 50 Public
Slide 51: Proposal to adopt the revised remuneration policy
Proposal to adopt the revised remuneration policy for the Board of Management (Voting item) April 23, 2025 Page 51 Public
Slide 52: Background and context
Background and context Our journey and leadership talent challenges Over 44,000 employees, 148 nationalities, 60+ • ASML has grown significantly over the past years, leading to increased expectations from locations across 3 continents stakeholders. • Our leadership structure, including the Board of
Slide 53: Remuneration Policy items proposed for update
Remuneration Policy items proposed for update Overview key updates Element Key update Update the composition of the peer group to ensure continued alignment with the selection criteria and competitive Peer group talent landscape. Make incremental progress towards aligning variable remuneration level
Slide 54: Stakeholder feedback on the proposed BoM Remuneration Policy
Stakeholder feedback on the proposed BoM Remuneration Policy Overview • Actively engaged with major shareholders (representing 23% of the issued share capital owned), proxy advisors and shareholder interest organizations. • Generally positive about the ways in which the Supervisory Board proposes to
Slide 55: Proposal to adopt the revised remuneration policy
Proposal to adopt the revised remuneration policy for the Board of Management (Voting item) April 23, 2025 Page 55 Public
Slide 56: Proposal to amend Supervisory Board remuneration
Proposal to amend the remuneration of the members of the Supervisory Board April 23, 2025 Page 56 Public
Slide 57: Supervisory Board fees
Supervisory Board fees Proposal • During 2024 the Remuneration Committee performed the recurring bi-annual benchmark of Supervisory Board remuneration: • AEX two-tier reference group: ASML now positions at the 87th percentile in terms of the size parameters, reflecting significant growth in ASML’s s
Slide 58: Proposal to amend Supervisory Board remuneration
Proposal to amend the remuneration of the members of the Supervisory Board April 23, 2025 Page 58 Public
Slide 59: Composition of the Supervisory Board
Composition of the Supervisory Board April 23, 2025 Page 59 Public
Slide 60: Proposal to reappoint Ms. B.M. Conix
Proposal to reappoint Ms. B.M. Conix as a member of the Supervisory Board (Voting item) April 23, 2025 Page 60 Public
Slide 61: Proposal to appoint Ms. C.E.G. van Gennip
Proposal to appoint Ms. C.E.G. van Gennip as a member of the Supervisory Board (Voting item) April 23, 2025 Page 61 Public
Slide 62: Composition of the Supervisory Board in 2026
Composition of the Supervisory Board in 2026 (Non-voting item) April 23, 2025 Page 62 Public
Slide 63: Appointment of external auditor
Appointment of external auditor April 23, 2025 Page 63 Public
Slide 64: Proposal to appoint PricewaterhouseCoopers for financial statements 2026
Proposal to appoint PricewaterhouseCoopers Accountants N.V. as the external auditor to issue an independent auditor’s opinion on ASML’s financial statements for the reporting year 2026 (Voting item) April 23, 2025 Page 64 Public
Slide 65: Proposal to appoint PricewaterhouseCoopers for sustainability assurance
Proposal to appoint PricewaterhouseCoopers Accountants N.V. as the external auditor to carry out the assurance of ASML’s sustainability statements for the reporting years 2025 and 2026 (Voting item) April 23, 2025 Page 65 Public
Slide 66: Appointment of external auditor
Appointment of external auditor April 23, 2025 Page 66 Public
Slide 67: Introduction to agenda items
Introduction to agenda items (Voting items) April 23, 2025 Page 67 Public
Slide 68: Authorizations to issue shares
Authorizations Proposals to authorize the Board of Management to issue ordinary shares or grant rights to subscribe for ordinary shares, as well as to restrict or exclude the preemption rights accruing to shareholders (Voting items) April 23, 2025 Page 68 Public
Slide 69: Proposals to repurchase and cancel ordinary shares
Proposals to authorize the Board of Management to repurchase ordinary shares up to 10% of the issued share capital; and to cancel ordinary shares (Voting items) April 23, 2025 Page 69 Public
Slide 70: Agenda items
Agenda items April 23, 2025 Page 70 Public
Slide 71: Any other business
Any other business April 23, 2025 Page 71 Public
Slide 72: Closing
Closing April 23, 2025 Page 72 Public
Slide 73: April 23, 2025 Page 73 Public
ASML p:123,2025 Page 73 Public