Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Q1 2017 Earnings Presentation
22 slides from Asml Holding Nv's earnings presentation, Apr 19, 2017
Slide 1: ASML 2017 First-Quarter Results
Stronger than expected demand drives ASML Q1 sales Positive momentum expected to continue throughout 2017 ASML 2017 First-Quarter Results Veldhoven, the Netherlands April 19, 2017 Public
Slide 2: Agenda
Public Slide 2 April 19, 2017 Agenda • Investor key messages • Business highlights • Outlook • EUV highlights • Financial statements
Slide 3: Investor key messages
Public Slide 3 April 19, 2017 Investor key messages
Slide 4: Investor key messages
Public Slide 4 April 19, 2017 Investor key messages • Shrink is a key industry driver supporting innovation and providing long term industry growth • Lithography enables affordable shrink and therefore delivers compelling value for our customers • EUV will enable continuation of Moore’s Law and will
Slide 5: Business highlights
Public Slide 5 April 19, 2017 Business highlights
Slide 6: Q1 results summary
Public Slide 6 April 19, 2017 Q1 results summary • Net sales of € 1,944 million, net systems sales valued at € 1,216 million, net service and field option sales at € 728 million • Gross margin of 47.6%, including the effects of purchase price allocation adjustment for the HMI acquisition • Operating
Slide 7: Net system sales breakdown in value
Public Slide 7 April 19, 2017 Net system sales breakdown in value Q1’17 total value € 1,216 million Q4’16 total value € 1,289 million As per January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of Net system sales instead of Net service and field option s
Slide 8: Total net sales by end-use and installed base management
Public Slide 8 April 19, 2017 Foundry IDM Memory Total net sales million € by End-use YTD Installed Base Management (Service and Field options) As per January 1, 2017, ASML presents net sales with respect to metrology and inspection systems as part of Net system sales instead of Net service and fiel
Slide 9: Bookings activity by sector
Public Slide 9 April 19, 2017 Bookings activity by sector Q1’17 total value € 1,894 million Q4’16 total value € 1,580 million As per January 1, 2017 our Net bookings also include metrology and inspection systems Lithography systems do not include metrology and inspection systems Lithography systems
Slide 10: System backlog in value
Public Slide 10 April 19, 2017 System backlog in value Q1’17 total value € 4,509 million Q4’16 total value € 3,961 million As per January 1, 2017 our System backlog also include metrology and inspection systems Lithography systems do not include metrology and inspection systems Lithography systems N
Slide 11: Capital return to shareholders
Public Slide 11 April 19, 2017 Capital return to shareholders • Proposal submitted to 2017 Annual General Meeting of Shareholders, which takes place on April 26, to declare a dividend of € 1.20 per ordinary share • Share buyback program is currently paused Dividend Share buyback The dividend for a y
Slide 12: Outlook
Public Slide 12 April 19, 2017 Outlook
Slide 13: Outlook
Public Slide 13 April 19, 2017 Outlook • Q2 2017 net sales between € 1.9 and 2.0 billion ◦ EUV revenue approximately € 200 million • Three NXE:3400B shipments • Gross margin between 43 and 44% • R&D costs of about € 315 million • SG&A costs of about € 100 million • Other income (Customer Co-Investme
Slide 14: EUV highlights
Public Slide 14 April 19, 2017 EUV highlights
Slide 15: Commitments to EUV production insertion
Public Slide 15 April 19, 2017 Commitments to EUV production insertion Initial customer manufacturing targeted for 7 nm logic and mid-10 nm DRAM node Customers show commitment to insert EUV in volume manufacturing by ordering systems ASML commits to securing system performance, shipments and support
Slide 16: NXE:33x0B extendibility / upgradability to NXE:3400B
Public Slide 16 April 19, 2017 NXE:33x0B extendibility / upgradability to NXE:3400B 4 upgrade orders received to date of a total installed base opportunity of 14 systems 2015 NXE:3350B 16 nm ~80 WPH2 2017 NXE:3400B 13 nm ≥ 125 WPH3H first shipment resolution productivity 2013 NXE:3300B 22 nm ~55 WPH
Slide 17: Financial statements
Public Slide 17 April 19, 2017 Financial statements
Slide 18: Consolidated statements of operations
Public Slide 18 April 19, 2017 Consolidated statements of operations M€ Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Net sales 1,333 1,740 1,815 1,907 1,944 Gross profit 568 741 834 901 925 Gross margin % 42.6 % 42.6 % 46.0 % 47.2 % 47.6 % Other income 1 23 23 23 23 24 R&D costs (275 ) (270 ) (273 ) (287
Slide 19: Consolidated statements of cash flows
Public Slide 19 April 19, 2017 Consolidated statements of Cash flows M€ Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Net income 198 354 396 524 452 Net cash provided by (used in) operating activities (6 ) 481 (3 ) 1,193 (168 ) Net cash provided by (used in) investing activities (183 ) (24 ) (484 ) (2,498
Slide 20: Consolidated balance sheets
Public Slide 20 April 19, 2017 Consolidated Balance sheets M€ Assets Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Cash & cash equivalents and short-term investments 3,138 2,926 4,313 4,057 3,836 Net accounts receivable and finance receivables 1,302 1,362 1,593 1,264 1,426 Inventories, net 2,750 2,715 2,6
Slide 21: Forward-looking statements
Public Slide 21 April 19, 2017 This document contains statements relating to certain projections and business trends that are forward-looking, including statements with respect to expected trends and outlook, including expected customer insertion of EUV in volume manufacturing, including expected vo
Slide 22: ASML
ASML