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
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
Slide 3: Agenda
Public Slide 3 15 April 2015 Agenda • Investor key messages • Business highlights • Business environment • Outlook • Technology highlights • Financial statements
Slide 4: Investor key messages
Public Slide 4 15 April 2015 Investor key messages
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’
Slide 6: Business highlights
Public Slide 6 15 April 2015 Business highlights
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
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
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
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
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
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%
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
Slide 14: Business environment
Public Slide 14 15 April 2015 Business environment
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
Slide 16: Outlook
Public Slide 16 15 April 2015 Outlook
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%
Slide 18: Technology highlights
Public Slide 18 15 April 2015 Technology highlights
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
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
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
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
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
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
Slide 25: Financial statements
Public Slide 25 15 April 2015 Financial statements
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 (
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
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
Slide 29: ASML
ASML