Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Q1 2006 Earnings Presentation
20 slides from Asml Holding Nv's earnings presentation, May 12, 2006
Slide 1: 2006 1st Quarter Results
2006 1 st Quarter Results April 19, 2006
Slide 2: Safe Harbor
Safe Harbor “Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995: the matters discussed in this document may include forward-looking statements that are subject to risks and uncertainties including, but not limited to: economic conditions, product demand and semico
Slide 3: Agenda
Agenda Accomplishments Financial summary Q2 outlook Company focus 2006
Slide 4: Accomplishments
Accomplishments
Slide 5: Accomplishments Q1 2006
Accomplishments Q1 2006 Solid execution Gross margin increased to 40.0% Operating margin grew to 18.2% Improved our market position Gained 7 th customer in Japan – will use ASML immersion tools Net bookings of 62 systems (47 new) with a value of € 710 million Immersion Backlog increased to 18 immers
Slide 6: Financial accomplishments Q1 2006
Financial accomplishments Q1 2006 Robust financial performance Revenue of € 629 million, 15% increase over Q4 ‘05 Shipped 51 systems (39 new systems) ASP new systems is € 13.5 million Net profit of € 80 million (12.7% of sales) In preparation for major Q2 growth, ASML invested € 219 million cash in
Slide 7: Financial summary
Financial summary
Slide 8: Total revenues M€
609 351 820 526 370 329 785 611 616 548 533 763 Total revenues M€ 1959 1543 2465 2529
Slide 9: Revenue breakdown: Q1 2006
units Others TWINSCAN i-line KrF ArF Revenue breakdown: Q1 2006 Value per type Value per technology TWINSCAN 86% Others 14% Value per region Value per end-use Foundry 8% Memory 57% IDM 35% KrF 46% ArF 50% i-line 4% U.S. 27% Taiwan 19% Korea 32% China 3% Europe 16% ROW 3% Numbers have been rounded fo
Slide 10: Profit & Loss statement M€
20 0 5 Q 1 05 Q 4 05 Q1 0 6 Net sales Gross margin Gross margin % R&D costs SG&A costs Operating income Operating income % Net income Net income % Profit & Loss statement M€ Numbers have been rounded for readers’ convenience 2529 38.5 % 40.0 % 37.3 % 40.0 % 7.8 % 21.0 % 13.6 % 18.2 % 12.3 % 14.6 % 9
Slide 11: Key financial trends 2005 - 2006
Profit & Loss Statement M€ Q1 0 5 Q2 0 5 Q3 0 5 Q4 0 5 Q1 0 6 Units Sales Gross margin Gross margin % R&D SG&A O perating income Operating income % Net income Net income % Key financial trends 2005 - 2006 Numbers have been rounded for readers’ convenience 40.0 % 39.1 % 37.0 % 37.3 % 40.0 % 21.0 % 21
Slide 12: Cash flow M€
20 05 Q 1 05 Q4 05 Q1 0 6 Net income Depreciation and amortization Changes in tax assets and liabilities Effects of changes in inventories Effects of changes in other assets and liabilit ies Cash flow from recurring operations Cash flow from investing activities Cash flow from financing activities E
Slide 13: Backlog as of April 2, 2006
New Systems Used Systems Total Backlog Backlog Backlog Units Value ASP Backlog as of April 2, 2006 85 % of unit backlog carry Q2 + Q3 2006 shipment dates Q1 net bookings of 62 systems with a value M€ 710 including 47 new tools with an ASP of M€ 14.3 Note: Due to possible customer changes in delivery
Slide 14: Balance sheet as of April 2, 2006 M€
ASSETS December 2005 March 200 6 Cash and cash equivalents Accounts receivable, net Inventories, net Other assets Tax assets Fixed assets LIABILITIES and SHAREHOLDERS’ EQUITY Current liabilities Convertible subordinated bonds Long term debts and deferred liabilities Shareholders’ equity Current liab
Slide 15: Backlog: litho units and value
Backlog: litho units and value
Slide 16: Backlog lithography per April 2, 2006
Backlog lithography per April 2, 2006 Total value M€ 1,596 Value per type Value per technology TWINSCAN 95% Others 5% I-line 3% ArF dry 43 % Value per region Value per end-use U.S. 31% Foundry 22% Memory 49% Taiwan 21% IDM 29% Korea 24% KrF 25% ROW 2% Europe 9% ArF immersion 29 % Numbers have been r
Slide 17: Q2 outlook
Q2 outlook Shipment of 64 systems expected ASP for new system shipments expected to be € 14.5 million for new systems and € 12.3 million for new + refurbished systems Gross margin expected at 39 – 40% R&D and SG&A are expected to be € 87 million net of credit and € 51 million respectively ASML expec
Slide 18: Share Buyback Program
Share Buyback Program ASML confirms its intention to execute a share buyback program in 2006 Company will repurchase up to the equivalent of € 400 million of its own shares over the next 12 months Purpose of the program is to return excess cash to shareholders through reduction of the number of issu
Slide 19: Company focus 2006
Company focus 2006 Continue execution of 2005 focus points Execute on volume production ramp of the TWINSCAN XT:1700i, hyper NA tool for 45 nm node Execute on cost of goods reduction Execute on lead time reduction Accelerate the technology leadership gap Ship 2 EUV Alpha demo tools Finalize developm
Slide 20: Commitment
Commitment