ASML Holding NV · EURONEXT:ASML
ASML Holding NV — UBS Technology Conference 2011
24 slides from ASML Holding NV's conference presentation, Mar 10, 2011
Slide 1: UBS Technology Conference 2011
UBS Technology Conference 2011 Franki D’Hoore - Director European Investor Relations London, March 10, 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: 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 8: 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 9: 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 10: 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 10
Slide 11: Market
/ Slide 11 ¥ ys ASML
Slide 12: 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 13: 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 14: DRAM spot prices improving for both 2Gb and 1Gb DDR3 products
DRAM spot prices improving for both 2Gb and 1Gb DDR3 products MAIN DRAM SPOT & CONTRACT PRICES (01/2008 - 2011YTD) 3 1Gb DDR2 800 MHz SPOT PRICE 1Gb DDR2 800 MHz CONTRACT PRICE 2.8 1Gb DDR3 1333 MHz SPOT PRICE 1Gb DDR3 1333 MHz CONTRACT PRICE 300 mm cash- 2.6 2Gb DDR3 1333MHz SPOT PRICE 2Gb DDR3 133
Slide 15: Efficiency gap between tier-1 and tier-2 foundries
Efficiency gap between tier-1 and tier-2 foundries Overview of Tier-1 vs. Tier-2 Foundry tool utilization [2002 - 2011 YTD] 90% Tier-2 Foundry Avg. Utilization Tier-1 Foundry Avg. Utilization Poly. (Tier-2 Foundry Avg. Utilization) 80% Poly. (Tier-1 Foundry Avg. Utilization) 70% ASML tool utilizatio
Slide 16: ASML business update
ASML business update / Slide 16
Slide 17: 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 18: Technology - EUV
Technology - EUV Two NXE:3100 systems has been shipped, the first one is exposing wafers already at a customers manufacturing site Four 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 confirme
Slide 19: EUV lowers overall costs for customer
EUV lowers overall costs for customer, while including increased litho costs Metrology Strip/Clean Costs per layer: Spacer etch • ArFi : Patterning steps per device layer BARC/ACL/SiON etch Metrology Strip/Clean • Overall patterning costs (including litho, etching, etc.): Trim Etch Metrology 70.82 €
Slide 20: Source power progress 10x per year
Source power progress 10x per year 60 W/hr still provides challenge 250W 1000 ~105W 125wph 60wph 15mJ/cm2 Source power [W] ~10W 10mJ/cm2 100 5wph 10mJ/cm2 10 ~1W 0.5wph 10mJ/cm2 1 0.1 Q1/2009 Q1/2010 Q1/2011 end/2011 end/2012 Aggregate roadmaps of Timeline source suppliers / Slide 20
Slide 21: 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 21
Slide 22: Outlook and summary
Outlook and summary / Slide 22
Slide 23: 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 23
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