Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Merrill Lynch TMT Conference 2006
19 slides from Asml Holding Nv's conference presentation, Jul 13, 2006
Slide 1: Merrill Lynch TMT Conference
Merrill Lynch TMT Conference London – June 6, 2006 Eric Meurice – CEO Exhibit 99.8
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 presentation may include forward-looking statements that are subject to risks and uncertainties including, but not limited to: economic conditions, product demand and se
Slide 3: ASML overview
2004/ 2005 2005 2004 IC Fabrication Equipment ASML overview -7.1% 23396.8 25191.0 Total Market +2.7% 2786.9 2712.4 ASML -6.3% 3480.9 3714.0 Tokyo Electron Ltd. -22.9% 4444.7 5768.1 Applied Materials Key facts: Headquarters: Veldhoven, the Netherlands Revenue 2005 ~ €2.5 B Market cap ~ €7.75 B Employ
Slide 4: ASML market share per region
ASML market share per region in ($) WW market share 57% in 2005 Europe Asia without Japan USA Source: ASML 48% 8% 77% 62% Japan
Slide 5: TWINSCAN XT:400 and XT:760 creating value in non and mid critical applications
TWINSCAN ™ XT:400 and XT:760 creating value in non and mid critical applications XT:400E Resolution: 350nm Throughput: 129wph Lowest CoO in 300mm I-line XT:760F Resolution: 130nm Throughput: 134wph Superior CoO in 300mm KrF I-line 29% KrF 51% Source: ASML
Slide 6: TWINSCAN XT:1700i
In-line Catadioptric lens design 4 th generation immersion technology High Efficiency Polarized Illuminator TWINSCAN XT:1700i 1.2 NA with 26x33mm 2 field Imaging Resolution 45-nm Overlay System 7-nm Throughput 125 shots 122 wph 42nm Market share wet + dry ArF 68% Source: ASML
Slide 7: 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 8: Mid-Term Market Update
Mid-Term Market Update
Slide 9: Market Status Summary
Market Status Summary 2006 IC Unit growth forecast at about 10% / 11% growth y-o-y Inventory at appropriate levels for continuous FAB capacity build up - under scrutiny Utilization rates at approx. 92 % with wide range of customers hitting capacity limits Industry shows sign of maturing as swings ar
Slide 10: Semiconductor Units history and forecast
Source: ASML MCC 25% -21% 14% 9% 18% 4% 11% Semiconductor Units history and forecast 2006 Semiconductor consensus growth forecast at +11% Semiconductor unit Forecast Semiconductor Units Unit Trend
Slide 11: IC unit sales and inventory
IC unit sales and inventory Steady demand - inventory under control Source: WSTS, VLSI Research, ASML Last data point: March 2006 IC unit sales and inventory - IC inventory 3mma IC unit Sales 3mma IC unit sales corrected for Inventory
Slide 12: Litho Bookings and Billings as % of Semiconductor Revenue
Source: SEMI, WSTS, ASML Last data point: March 2006 Litho Bookings and Billings as % of Semiconductor Revenue Relative Litho spending in range of control Expose & Write Bookings and Billings as % of Semiconductor sales 0% 1% 2% 3% 4% 5% 6% E&W bookings as % of Semi $Sadj 3MMA E&W billings as % of S
Slide 13: Growth from Multiple independent Segments
Growth from Multiple independent Segments Each Segment with its own investment cycle Flash shrink - 12 to 15 month investment cycle DRAM – closely follows Flash investment cycle Foundries represent classic supply/demand cycle Moore’s law, 18 to 24 months - invest for new product development - volume
Slide 14: Further Growth engines: new fab projects under construction
Further Growth engines: 26 new fab projects under construction: 9 Flash fabs 6 other Memory fabs 11 Foundry or IDM fabs Immersion enabling 55 nm/45 nm next generation node for early 2007 production ramp: Flash next generation High integration/complexity Logic designs STRONG BOOKINGS OUTLOOK IN Q2 20
Slide 15: Long-Term Trajectory
Long-Term Trajectory
Slide 16: Company focus
Company focus Execution on Technology – Cost – Leadtime Execute on Leadership: Volume production ramp of the TWINSCAN XT:1700i, hyper NA tool for 45 nm node: 20 - 25 tools to ship in 2006 2 EUV alpha tools mid 2006 R&D investment increased to sustain an accelerated roadmap 1 node/year Execute on cos
Slide 17: ASML's opportunity window: natural growth potential
Natural growth potential towards 4-5 B € range ASML’s opportunity window ASML Secular Growth model Source: Average of Dataquest, VLSI Research and ASML fab based simultion model – NOT A FORECAST Average WW litho sales ASML’s potential Status quo Assumption: 9% IC unit Growth/year
Slide 18: ASML is well positioned for value generation
ASML is well positioned for value generation Growth Target of 70% market share Potential to double top line in 5 years (reference 2005) Profitability Track record of last 8 quarters - average 17.1% EBIT margin Improvement through scaling Liquidity Average M €79 cash generation from operations in las
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