Slide 1: ASML 2012 Third Quarter Results
ASML 2012 Third Quarter Results Q3 results in line with guidance ASML to acquire Cymer Veldhoven, the Netherlands October 17, 2012
Slide 2: Safe Harbor
Safe Harbor Public Slide 2 17 October 2012 “Safe Harbor” Statement under the US Private Securities Litigation Reform Act of 1995: this press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statem
Slide 3: Important Information for Investors and Stockholders
Important Information for Investors and Stockholders Public Slide 3 17 October 2012 “This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. No offer of securities shall be made except by means of a pros
Slide 4: • Business summary • Cymer merger agreement • Business environment
Public Slide 4 17 October 2012 • Business summary • Cymer merger agreement • Business environment • ASML technology status • Outlook
Slide 5: Business summary
Public Slide 5 17 October 2012 Business summary
Slide 6: Q3 results - highlights
Q3 results - highlights Public Slide 6 17 October 2012 • Net sales of € 1,229 million, 40 systems sold valued at € 1,000 million, net service and field option sales at € 229 million • Gross margin of 43.2% • Operating margin of 25.8% • Net bookings of € 831 million, 33 systems • Backlog at € 1,340 m
Slide 7: Net Sales
Total net sales M€ Public Slide 7 17 October 2012 6000 5,651 Q4 net sales guidance about 5000 1,211 € 1 billion 4,508 4000 3,768 1,521 1,459 Q1 Net Sales 955 2,954 1,229 Q2 3000 494 Q3 934 1,176 Q4 697 1,529 2000 1,596 1,228 930 844 581 1,069 1000 555 1,452 1,252 949 919 742 277 0 183 2007 2008 2009
Slide 8: Net system sales breakdown in value: Q3 2012
Net system sales breakdown in value: Q3 2012 Public Slide 8 17 October 2012 Technology End-Use Foundry KrF 15% 48% I-Line 2% Memory 30% Region IDM ArF Immersion Taiwan 22% 83% 23% USA 27% Japan 7% 22 Sales in Units Europe 6% 13 Singapore 1% 5 China 1% Korea Numbers have been 35% rounded for readers’
Slide 9: Consolidated statements of operations M€
Consolidated statements of operations M€ Public Slide 9 17 October 2012 Q2 12 Q3 12 Includes € 12 million costs Net sales 1,228 1,229 related to the Gross profit 530 531 Co-investment Gross margin % 43.2% 43.2% program R&D costs 145 144 SG&A costs 55 70 Income from operations 331 317 Operating incom
Slide 10: Key financial trends 2011 – 2012
Key financial trends 2011 – 2012 Public Slide 10 Consolidated statements of operations M€ 17 October 2012 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Net sales 1,459 1,211 1,252 1,228 1,229 Gross profit 613 496 524 530 531 Gross margin % 42.1% 41.0% 41.8% 43.2% 43.2% R&D costs 150 150 145 145 144 SG&A costs 56 56
Slide 11: Cash flows M€
Cash flows M€ Public Slide 11 Q2 12 Q3 12 17 October 2012 Net income 292 275 Adjustments to reconcile net income to net cash flows from operating activities: Impairment and obsolescence 55 32 Depreciation and amortization 57 37 Includes approx. Deferred income taxes 1 25 € 3 billion net proceeds Oth
Slide 12: Balance sheets M€
Balance sheets M€ Public Slide 12 Assets Jul 1st, 2012 Sep 30st, 2012 17 October 2012 Cash & cash equivalents and short-term investments 2,702 38% 6,159 58% Accounts receivable, net 632 9% 327 3% Finance receivables, net 122 2% 266 3% Includes approx. € 3 billion Inventories, net 1,721 24% 1,920 18%
Slide 13: Bookings activity by sector, EUV not included
Bookings activity by sector, EUV not included Public Slide 13 Total value M€ 831 17 October 2012 Net booked • 29 new tools at € 795 million Foundry 62% • 4 used tools at € 36 million Memory 27% Memory bookings include evaluation tools converted into sales IDM 11% Numbers have been rounded for reader
Slide 14: Backlog in value per Sep 30th, EUV not included
Backlog in value per Sep 30th, EUV not included Public Slide 14 Total value M€ 1,340 17 October 2012 Region Technology (ship to location) USA 15% KrF 23% Japan 7% Taiwan I-Line 2% 38% ArF dry 1% Singapore 7% End-use Europe 7% ArF immersion Foundry 74% Korea 22% 39% China 4% IDM 24% 76% of backlog Ne
Slide 15: Share buy back to resume starting October 2012
Share buy back to resume starting 18 October 2012 Public Slide 15 17 October 2012 Cumulative share buy back 2011 - 2012 € 1,200 Millions € 1,000 € 800 € 600 € 400 € 200 €0 week 8 week 8 week 12 week 16 week 20 week 24 week 28 week 32 week 36 week 40 week 44 week 48 week 52 week 12 week 16 week 20 we
Slide 16: Update of the Customer Co-investment program
Update of the Customer Co-investment program Public Slide 16 17 October 2012 • ASML received approval from shareholders • Intel, TSMC and Samsung agreed to contribute € 1.38 billion over 5 years to ASML's R&D aimed at accelerating EUV lithography and 450mm lithography development • ASML received € 3
Slide 17: Cymer merger agreement
Public Slide 17 17 October 2012 Cymer merger agreement
Slide 18: ASML signs merger agreement with Cymer solidifying EUV roadmap
ASML signs merger agreement with Cymer solidifying Public Slide 18 EUV roadmap 17 October 2012 • EUV is the way forward for the semiconductor industry. The industry is looking to ASML and source suppliers to provide an economically viable EUV solution • Merging ASML and Cymer: • Will improve our cap
Slide 19: Transaction details
Transaction details Public Slide 19 17 October 2012 • ASML has made a public cash-and-share offer to purchase Cymer, valuing the company at approx. € 1.95 billion • Each Cymer share holder to receive US$ 20 in cash and 1.1502 ASML shares per Cymer share • Offer is for all of Cymer’s operations, asse
Slide 20: Business environment
Public Slide 20 17 October 2012 Business environment
Slide 21: Business environment
Business environment Public Slide 21 17 October 2012 • ASML’s Q4 revenue level is expected at € 1 billion reflecting: • Stable demand from the Logic sector (Foundry + IDM) • Very low demand from the memory sector • Entering 2013 we see sustained demand from Logic sector: • 28 nm node strategic build
Slide 22: ASML technology status
Public Slide 22 17 October 2012 ASML technology status
Slide 23: EUV status
EUV status Public Slide 23 17 October 2012 • NXE:3100 systems at customer sites have exposed more than 23,000 wafers with good overlay and imaging enabling semiconductor device recipe development • NXE:3300 meets customer requirements for overlay and imaging: • Overlay down to 1.3 nm • Imaging 16 nm
Slide 24: NXE:3100 learning accelerates NXE:3300 integration
NXE:3100 learning accelerates NXE:3300 integration Public High resolution NXE:3300 images 2 weeks after first light Slide 24 17 October 2012 First exposure 250 nm 27 nm 20 nm 16 nm small field July 16 2010 August 26 September 26 February 2012 February 2012 NXE:3100 setup and optimisation: 2 months F
Slide 25: EUV enables single exposure 14 nm node
EUV enables single exposure 14 nm node Public First NXE:3300B exposures at ASML Slide 25 17 October 2012 14 nm node M1 clip, 46nm minimum pitch, exposed on an NXE:3300B with conventional illumination. Clip courtesy of ST EUV imaging • Single exposure without OPC already shows good resemblance betwee
Slide 26: NXE:3300B integration status today
NXE:3300B integration status today Public Slide 26 7 machines in build-up for shipment 17 October 2012 System 1: Ongoing buildup Development tool System 7: System 2: Reliability testing Ongoing buildup System 6: System 3: System 5: Reliability testing Ongoing buildup System 4: Availability testing S
Slide 27: EUV status – orders and deliveries
EUV status – orders and deliveries Public Slide 27 17 October 2012 • We plan to ship 11 NXE:3300B EUV systems in 2013, contributing € 700 million in revenues • We have in addition commitments for 4 volume production tools to ship in 2014 • We expect another 4 to 8 commitments for NXE:3300 within the
Slide 28: Outlook
Public Slide 28 17 October 2012 Outlook
Slide 29: Q4 Outlook
Q4 Outlook Public Slide 29 17 October 2012 • Net sales around € 1 billion • Gross margin about 41% • R&D costs at € 155 million • SG&A costs at € 64 million ASML on track for H2 2012 sales of € 2.2 billion
Slide 30: ASML
ASML