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ASML Holding NV — Credit Suisse European Technology Conference (May 2010)
23 slides from ASML Holding NV's conference presentation, May 12, 2010
Slide 1: Credit Suisse European Technology Conference
Credit Suisse European Technology Conference Franki D’Hoore Director European Investor Relations May 12, 2010 / 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 Lithography trends Outlook and summary / Slide 3
Slide 4: Business summary
Business summ ; / Slide 4 % ss ASML
Slide 5: Q1 results - highlights
Q1 results - highlights Net sales of € 742 million, 34 systems shipped valued at € 632 million, service revenue at € 110 million Average selling price for new systems shipped is € 25.8 million Gross Margin of 40.3% Shipped 17 immersion systems Booked 50 systems, valued at € 1,004 million Backlog inc
Slide 6: Net sales
Total net sales M€ 4500 ASML 4000 3,768 guidance for 3,582 Q2 3500 955 1053 2,954 3000 2,529 494 Q4 Net sales 2,465 2500 Q3 934 548 785 697 2000 958 Q2 1,543 533 1,596 1500 Q1 611 930 844 526 581 1000 763 942 1000 370 616 555 500 329 949 919 685 629 277 742 318 453 183 0 2003 2004 2005 2006 2007 200
Slide 7: Key financial trends 2009 – 2010
Key financial trends 2009 – 2010 Consolidated statements of operations M€ Q1 09 Q2 09 Q3 09 Q4 09 Q1 10 Net Sales 184 277 555 581 742 Gross profit 12 34 191 220 298 Gross margin % 6.7% 12.5% 34.4% 38.0% 40.3% R&D 118 118 115 115 120 SG&A 40 40 37 37 41 Income (loss) from operations (146) (124) 39 68
Slide 8: Backlog: value and litho units
Backlog value M€ 0 500 1000 1500 2000 2500 Jan 04 / Slide 8 Jul 04 Jan 05 Jul 05 Jan 06 Jul 06 Jan 07 Backlog value Jul 07 Jan 08 Backlog: value and litho units Systems Jul 08 Jan 09 Jul 09 Jan 10 0 50 100 150 200 250 300 Backlog units
Slide 9: Backlog in value per March 28, 2010
Backlog in value per March 28, 2010 Total value M€ 2,170 Technology KrF 9% 51% NXT i-line 1% 38% XT ArF 1% ArF Region immersion End-use 89% USA Japan 11% 19% Singapore 6% IDM Taiwan 14% 31% Europe 3% Memory Foundry China 7% Korea 75% 11% 23% Numbers have been rounded for readers’ convenience / Slide
Slide 10: Sector growth summary
Sector growth summary DRAM Significant new immersion lithography tools required as immersion layers increase from node to node which will continue in 2011 DRAM unit growth forecasted by analysts at 16%, bit growth at 50% primarily met by shrink NAND Immersion demand ramping in Q3 and Q4 due to requi
Slide 11: TWINSCAN NXT moving to volume chip manufacturing
TWINSCAN NXT moving to volume chip manufacturing TWINSCAN NXTs have been shipped to several customers for volume semiconductor production in Q2 2010 Proven industry leading performance of CD imaging uniformity well below 1 nm and overlay of less than 2 nm Booked 14 systems in Q1 Backlog 28 systems e
Slide 12: Lithography trends
Lithography trends / Slide 12
Slide 13: Resolution/half pitch, Shrink
IC segment roadmaps follow each a different pace Lithography supports shrink roadmap 200 Logic DRAM NAND Resolution/half pitch, "Shrink" [nm] 100 80 ARF 2 years/node AT:1200 60 XT:1400 50 XT:1700i 40 ARFi 1 year/node XT:1900i 30 NXT:1950i 18 months/node NXE:3100 20 EUV NXE:3300 ’02 ’03 ’04 ’05 ’06 ’
Slide 14: Customer lithography roadmap by sector
Customer lithography roadmap by sector DRAM NAND MPU LOGIC Node Node Node = HP [nm ] Node = HP [nm ] YEAR / HP [nm ] / HP [nm ] 2007 65 55 45 / 80 2008 55 42 45 / 70 2009 52 35 32 / 60 40 / 70 2010 45 28 32 / 50 2011 38 22 22 / 40 28 / 50 2012 32 20 2013 28 18 15 / 30 22 / 35 DPT 2014 25 15 2015 22
Slide 15: DRAM wafer starts by node
DRAM industry wafer production capacity 2 concurrent node transitions in 2010 DRAM WW Monthly Wafer Production Split by Node 2000 1XX nm -200mm 9x nm -200 mm 8x nm -200 mm 9x nm 8x nm 1800 6x nm 5x nm 4x nm 3x nm 2x nm Wafer Starts [300 mm equiv. KWSM] * Gartner DRAM bit forecast (3/10): 1600 2009 2
Slide 16: NAND wafer starts by node
NAND industry wafer production capacity 2 concurrent node transitions in 2010 NAND WW Monthly Wafer Starts Split by Node and Utilization 1400 7x-200 mm 6x-200 mm 5x-200 mm 7x nm 6x nm 5x nm 4x nm 3x nm 2x nm 1x nm Wafer Starts [300 mm equiv. KWSM] 1200 * Gartner NAND bit forecast (3/10): 2009 2010 2
Slide 17: DRAM Sufficiency
DRAM bit sufficiency analysis: Continued mild undersupply throughout 2010 ASML DRAM Sufficiency Model 700 200% * Gartner DRAM bit forecast (3/10): DRAM bit supply (ASML) [Mio. GB] 2009 2010 2011 DRAM bit demand (Gartner) [Mio. GB] 180% 600 DRAM demand & supply [Mio. GB] Mio GB (new): 1348 2123 3129
Slide 18: NAND Sufficiency
NAND bit sufficiency analysis: Demand / supply in balance in 2010 ASML NAND Sufficiency Model 4,000 200% * Gartner NAND bit forecast (3/10): NAND bit supply (ASML) [Mio. GB] 3,500 2009 2010 2011 NAND bit demand (Gartner) [Mio. GB] 175% Mio GB (new): 6467 10718 19680 NAND demand & supply [Mio. GB] Yo
Slide 19: Memory wafer output starts per month
By end 2010 memory output capacity is estimated to be more than 10% below peak capacity of 2008 Memory WW wafer output split by wafer size and node 6x & 5x Estimate 30 & f 2600 0m ab Conversion m c lo 2400 Immersion for 5x, 4x ut s & 3x conversion ili ur Starts / Month [300mm equiv. KWspM] 2200 sa e
Slide 20: ASML Systems: 300mm Memory
ASML Systems: 300mm Memory Average number of systems required for new fab 3xnm NAND 4xnm DRAM ArFi ArF KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi KrF KrF I-Line Ar
Slide 21: Outlook and summary
Outlook and summary / Slide 21
Slide 22: Q2 2010 outlook
Q2 2010 outlook Net sales expected around € 1 billion Gross margin expected of about 42% in Q2 R&D is expected at € 125 million net of credits SG&A is expected at € 42 million Q2 bookings are expected at similar level as in Q1 2010 We expect this cycle to be sustained by the normal technology transi
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