Asml Holding Nv · EURONEXT:ASML

Asml Holding Nv — Q1 2015 Earnings Presentation

29 slides from Asml Holding Nv's earnings presentation, Apr 15, 2015

  1. Slide 1: ASML 2015 First Quarter Results

    Public ASML Q1 net sales in line with guidance at € 1.65 billion, gross margin 47.2% ASML 2015 First Quarter Results Veldhoven, the Netherlands April 15, 2015

  2. Slide 2: Forward looking statements

    Forward looking statements Public Slide 2 15 April 2015 This document contains statements relating to certain projections and business trends that are forward-looking, including statements with respect to our outlook, expected customer demand in specified market segments including DRAM and logic, ex

  3. Slide 3: Agenda

    Public Slide 3 15 April 2015 Agenda • Investor key messages • Business highlights • Business environment • Outlook • Technology highlights • Financial statements

  4. Slide 4: Investor key messages

    Public Slide 4 15 April 2015 Investor key messages

  5. Slide 5: Investor key messages

    Investor key messages Public Slide 5 • Shrink is the key industry driver supporting innovation and providing long term industry growth 15 April 2015 • Moore’s Law will continue and be affordable • Lithography enables affordable shrink and therefore delivers compelling value for our customers • ASML’

  6. Slide 6: Business highlights

    Public Slide 6 15 April 2015 Business highlights

  7. Slide 7: Q1 results

    Q1 results Public Slide 7 15 April 2015 • Net sales of € 1,650 million, 47 litho systems sold, valued at € 1,247 million, net service and field option sales at € 403 million • Average selling price of € 26.5 million per system • Gross margin of 47.2% • Operating margin of 27.6% • Net bookings of € 1

  8. Slide 8: Net system sales breakdown in value

    Net system sales breakdown in value Public Slide 8 15 April 2015 Region Technology End-Use (ship to location) Sales in Units 23 China Taiwan 16 11% Q1’15 KrF 19% 12% Memory IDM 6 total value ArF dry 3% 55% 12% Korea 2 Japan 0 € 1,247 i-line 2% 37% 11% EUV ArF i ArFdry KrF I-Line million Foundry Euro

  9. Slide 9: Net Sales

    Total net sales million € by quarter Public Slide 9 15 April 2015 7000 5,856 6000 5,651 5,245 Q4 5000 1,211 4,732 1,494 Q3 4,508 Q2 1,023 1,848 Q1 Net Sales 4000 1,521 1,459 1,322 3000 1,229 1,318 1,176 1,529 1,644 2000 1,228 1,187 1,069 1000 1,452 1,397 1,650 1,252 742 892 0 2010 2011 2012 2013 201

  10. Slide 10: Net Sales by End-use

    Total net sales million € by End-use Public Slide 10 15 April 2015 7000 5,856 6000 5,651 5,245 767 5000 4,732 1,614 Service & Options 4,508 1,252 Foundry 613 930 IDM Net Sales 4000 1,856 Memory 1,186 944 3000 2,064 366 2,279 831 844 2000 1,650 YTD 440 403 2,585 588 1000 2,184 2,225 414 1,489 154 935

  11. Slide 11: Bookings activity by sector

    Bookings activity by sector Public Slide 11 15 April 2015 Memory 53% New Used Q1’15 total value systems systems € 1,028 million Units 35 5 Foundry Value M€ 998 30 31% IDM 16% Memory 27% New Used Q4’14 total value systems systems € 1,387 million IDM Units 43 8 Foundry 8% Value M€ 1,357 30 65% Numbers

  12. Slide 12: Backlog in value

    Backlog in value Public Region Slide 12 15 April 2015 Technology End-use (ship to location) ArF dry 2% USA Europe 2% Foundry 26% KrF 35% China 1% IDM Q1’15 14% 23% Japan 8% i-line 1% Taiwan total value New Used EUV 7% 25% € 2,602 systems systems million Korea Units 60 15 ArF immersion Memory 38% 76%

  13. Slide 13: Capital return to shareholders

    Capital return to shareholders Public Slide 13 15 April 2015 • ASML proposal to again increase dividend by 15% to € 0.70 per ordinary share will be discussed at the AGM April 22nd • Purchased € 129 million worth of shares as part of our 2015/2016 approx. € 1 billion share buy back program Dividend h

  14. Slide 14: Business environment

    Public Slide 14 15 April 2015 Business environment

  15. Slide 15: Business environment

    Business environment Public Slide 15 15 April 2015 • DRAM segment remains healthy in 2015 with litho sales weighted to the first half of 2015 • Limited NAND litho tool shipments driven by planar NAND shrink and Memory 3D process development programs • Stable business throughout 2015 • Modest tool sh

  16. Slide 16: Outlook

    Public Slide 16 15 April 2015 Outlook

  17. Slide 17: Outlook

    Outlook Public Slide 17 15 April 2015 • Q2 net sales around € 1.6 billion, including 1 EUV system • Gross margin around 45% • R&D costs of about € 265 million • SG&A costs of about € 85 million • Other income (Customer Co-Investment Program) of about € 21 million • Effective tax rate approx. 11%

  18. Slide 18: Technology highlights

    Public Slide 18 15 April 2015 Technology highlights

  19. Slide 19: EUV program: priorities for 2015

    EUV program: priorities for 2015 Public Slide 19 15 April 2015 In 2015, we will focus on: • Improving stability and availability • Continuing progress on productivity • Shipping the NXE:3350B, our 4th generation EUV tool

  20. Slide 20: EUV 2015 targets and status at a glance

    EUV 2015 targets and status at a glance Public Slide 20 15 April 2015 Productivity – Target: 1000 wafers per day • 1022 wafers exposed in 24 hours at customer site (80 Watt source configuration) • 80 Watt upgrades in progress at multiple customer sites • Up to 110 Watt source power demonstrated at A

  21. Slide 21: NXE:3350B mechanical integration complete

    NXE:3350B mechanical integration complete Public To ship mid-2015 with new high-power drive laser and in-situ collector cleaning Slide 21 15 April 2015

  22. Slide 22: EUV production insertion: current expectation

    EUV production insertion: current expectation Public Slide 22 15 April 2015 Customer benefits: • Reduction of process complexity ASML Logic pilot DRAM opportunity • Increased design production follows flexibility can lead to starting 1-2 years €10 billion additional shrink total sales end-2016 later

  23. Slide 23: EUV shipments and revenue recognition

    EUV shipments and revenue recognition Public Slide 23 15 April 2015 EUV shipments & revenue 2015 Shipment plan 1 NXE:3300B Revenue 1 Shipment plan 1 - 3* NXE:3300B → 3350B Revenue TBD** Shipment plan 6 NXE:3350B Revenue TBD** * Systems may ship as NXE:3300B in 2015 or be upgraded to the NXE:3350B co

  24. Slide 24: Q1 product highlights

    Q1 product highlights Public Slide 24 15 April 2015 EUV • On an NXE:3300B, customer exposed more than 1000 wafers in a 24-hour period • EUV source power upgrade is being rolled out to multiple customer sites DUV and Holistic litho • Our Overlay and Focus Package for the TWINSCAN NXT:1970Ci, which im

  25. Slide 25: Financial statements

    Public Slide 25 15 April 2015 Financial statements

  26. Slide 26: Consolidated statements of operations M€

    Consolidated statements of operations M€ Public Slide 26 15 April 2015 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Net sales 1,397 1,644 1,322 1,494 1,650 Gross profit 610 752 578 657 779 Gross margin % 43.6% 45.7% 43.7% 44.0% 47.2% Other income* 20 20 20 20 21 R&D costs (279) (267) (260) (268) (261) SG&A costs (

  27. Slide 27: Cash flows M€

    Cash flows M€ Public Slide 27 15 April 2015 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Net income 249 399 244 305 403 Net cash provided by (used in) operating activities 203 198 214 409 337 Net cash provided by (used in) investing activities 5 (74) (24) 77 124 Net cash provided by (used in) financing activities

  28. Slide 28: Balance sheets M€

    Balance sheets M€ Public Slide 28 15 April 2015 Assets Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Cash & cash equivalents and short-term investments 2,998 2,711 2,685 2,754 2,838 Net accounts receivable and finance receivables 1,177 1,429 1,336 1,304 1,510 Inventories, net 2,548 2,616 2,677 2,550 2,607 Other ass

  29. Slide 29: ASML

    ASML

ASML — Q1 2015 Earnings Presentation on 6ix