ASML Holding NV · EURONEXT:ASML
ASML Holding NV — UBS Technology Conference 2012
27 slides from ASML Holding NV's conference presentation, Mar 8, 2012
Slide 1: UBS Technology Conference 2012 London
UBS Technology Conference 2012 London Franki D’Hoore, Director Investor Relations March 8, 2012 / 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 systems backlog, IC unit demand, financial results, average se
Slide 3: Agenda
Agenda • Business summary • Outlook • ASML technology strategy / Slide 3
Slide 4: Business summary
Business summary / Slide 4
Slide 5: Total net sales M€
Total net sales M€ 5,651 4,508 3,768 3,582 2,954 1,596 Numbers have been rounded for readers’ convenience. / Slide 5
Slide 6: Key financial trends 2010 – 2011
Key financial trends 2010 – 2011 Consolidated statements of operations M€ Q4 10 Q1 11 Q2 11 Q3 11 Q4 11 Net Sales 1,521 1,452 1,529 1,459 1,211 Gross profit 685 649 690 613 496 Gross margin % 45.0% 44.7% 45.1% 42.1% 41.0% R&D costs 141 145 145 150 150 SG&A costs 50 54 51 56 56 Income from operations
Slide 7: Backlog in value per Dec 31, 2011
Backlog in value per Dec 31, 2011 Total value M€ 1,733 New Used Total Technology systems systems systems Units 61 10 71 KrF 29% Value M€ 1,703 30 1,733 I-Line 2% ASP M€ 27.9 3.0 24.4 ArF dry 5% ArF immersion 64% Japan 8% Singapore 7% USA 28% Europe 8% End-use Foundry 50% China 5% IDM 23% Taiwan 14%
Slide 8: Cash return to shareholders
Cash return to shareholders • ASML proposes to increase dividend by 15% to € 0.46 per ordinary share • ASML increases the existing 1 billion share buyback program to € 1,130 million enabling maximum use of available withholding tax-exempt allowance in 2012 • In 2012 ASML also intends to purchase up
Slide 9: ASML has returned nearly € 3.3 billion cash in the past years
ASML has returned nearly € 3.3 billion cash in the past 6 years Cummulative Cash Return 2006-2011 3500 Cumulative Cash Return 2006-2011 3000 Dividend 2500 Million € 2000 Share buy back 1500 1000 500 0 2006 2007 2008 2009 2010 2011 • Repurchased more than 143 million shares since 2006 representing ap
Slide 10: Outlook Q1 2011
Outlook Q1 2011 / Slide 10
Slide 11: Q1 Outlook
Q1 Outlook • Net sales around € 1.2 billion • Bookings expected above Q4 2011 level (was € 710 million) • Gross margin about 43% • R&D costs at € 145 million • SG&A costs at € 54 million ASML expects H1 2012 net sales of about € 2.4 billion / Slide 11
Slide 12: ASML technology strategy
ASML technology strategy / Slide 12
Slide 13: Dual product development strategy continues
Dual product development strategy continues Evolving high productivity NXT Preparing EUV platform for platform optimized for multi volume manufacturing of pass patterning processes critical layers Concurrent development programs to enhance imaging, overlay, productivity and process control on both p
Slide 14: Q4 immersion platform highlights
Q4 immersion platform highlights • Recognized 101 immersion tools in 2011 of which 78 were TWINSCAN NXT:1950i, our most advanced production systems • Overlay accuracy of NXT:1950i improved by 30% on product wafers • Multiple NXT:1950i systems printed more than 4000 wafers in a single day in customer
Slide 15: EUV has arrived worldwide in Fabs
EUV has arrived worldwide in Fabs System 4: System 1 Exposing wafers for Exposing wafers for device development device development System 5: System 2 Exposing wafers for Exposing wafers for device development device development System 3: Exposing wafers for System 6: device development Exposing wafe
Slide 16: Customer roadmaps indicate shrinks to <10nm node
Customer roadmaps indicate shrinks to <10nm node 2011 - 2012 2013 - 2014 2015 - 2016 2017 - 2018 Logic & MPU 22 - 20nm 16 - 14nm 11 - 10nm 8 - 7nm Memory: 0.08um2, SRAM Memory: 0.05um2 SRAM Memory: 0.03um2 SRAM Memory: FBRAM, STT-RAM, Device: planar or FinFET Device: FinFET, FDSOI Device: FinFET >8T
Slide 17: ASML roadmaps support shrink to <10nm with ArF immersion and EUV
ASML roadmaps support shrink to <10nm with ArF immersion and EUV EUV insertion will vary by sector 2011 - 2012 2013 - 2014 2015 - 2016 2017 - 2018 Logic & MPU 22 - 20nm 16 - 14nm 11 - 10nm 8 - 7nm ArFi: SE, LELE SE, SPT, 3xLE SE, 4xLE, SPT, dbl.SPT EUV 38 - 32nm 27 - 22nm 22 - 16nm 16 - 14nm ArFi: S
Slide 18: EUV introduction by customers will be gradual
EUV introduction by customers will be gradual • The low 2x nm technology nodes might introduce EUV for critical layers • Timeline 2013 - 2014 • The mid 1x nm technology nodes will introduce EUV for critical layers • Timeline 2015 and beyond • Immersion will continue to be used for critical layer ima
Slide 19: ASML Immersion Product Roadmap
ASML Immersion Product Roadmap NXT:1950i provides performance extendibility until EUV adoption TWINSCAN NXT Extendibility Upgradeability 2011 Extensions 2012 Extensions 2013+ Matched Machine Overlay 5.5nm 4.5nm 3.5nm On Product Overlay 9nm 6nm 4nm * CDU 3nm 1.5nm 1nm Total focus control budget 110nm
Slide 20: Shrink drives more exposures and greater litho system requirements
Shrink drives more exposures and greater litho system requirements 32/28nm Logic 22/20nm Logic 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 ArF KrF KrF ArFi ArFi KrF KrF ArFi KrF KrF ArFi ArFi KrF KrF ArFi KrF KrF ArFi ArFi KrF KrF ArFi KrF ArF
Slide 21: EUV simplifies process (and reduces cost)
EUV simplifies process (and reduces cost) LELE relative to EUV Process steps x2 DPT relative to EUV Cycle time x2 Process steps x4 Additional costs < 10% Cycle time x4 Additional costs 30-50% QPT relative to EUV Process steps > x5 Cycle time > x5 Additional costs > 50% Strip/clean Etch Defect inspec
Slide 22: NXE technology roadmap has great extendibility
NXE technology roadmap has great extendibility first illumination optimization, then NA increase On-site / in integration In system definition Under study Resolution [nm] 32 27 22 18 16 13 10 7 <7 wavelength [nm] 13.5 layo 6.8 Imaging ut IIlum. Lens DPT with 0.33NA at 13.5 nm NA 0.25 0.33 0.45 0.60
Slide 23: NXE:3100 imaging performance proven for various customer applications
NXE:3100 imaging performance proven for various customer applications 16nm dense lines 27 nm Gate Layer Flash staggered contact layer Flash Bitline pitch = 44 nm (1:1.2) CH pitch = 74.4 nm Sub 16 nm node Sub 16 nm node 30 nm Brickwall DRAM SRAM Contact Hole SRAM metal-1 0.038µm2 bit cell-size, 0.038
Slide 24: The NXE:3100 has exposed more than 5,300 wafers
The NXE:3100 has exposed more than 5,300 wafers …and is enabling device development at customer sites Slide 24 |
Slide 25: Building for volume production: new cleanroom cabins available
Building for volume production: new cleanroom cabins available New EUV factory at ASML for ~3x capacity increase Existing EUV offices & manufacturing, 8 cabins. New EUV offices & manufacturing,15 cabins. Two cabins finished (Jan.12) Slide 25 |
Slide 26: Summary and conclusions: EUV….here to stay
Summary and conclusions: EUV….here to stay l Imaging and Overlay performance of NXE: 3100 platform is good, and supports current customer device and process development for 2xnm node l NXE:3300B scheduled to ship to customers later this year l EUV delivers: l Single exposure shrink, fewer design res
Slide 27: / Slide 27
/ Slide 27