Slide 1: ASML 2016 First-Quarter Results
Public ASML reports first-quarter sales and gross margin in line with guidance Strong Q2 outlook underpinned by 10 nanometer logic ramp ASML 2016 First-Quarter Results Veldhoven, the Netherlands April 20, 2016
Slide 2: Forward looking statements
Forward looking statements Public Slide 2 April 20, 2016 This document contains statements relating to certain projections and business trends that are forward-looking, including statements with respect to our outlook, including expected customer demand in specified market segments including memory,
Slide 3: Agenda
Public Slide 3 April 20, 2016 Agenda • Investor key messages • Business highlights • Business environment • Outlook • EUV highlights • Financial statements
Slide 4: Investor key messages
Public Slide 4 April 20, 2016 Investor key messages
Slide 5: Investor key messages
Investor key messages Public Slide 5 April 20, 2016 • Shrink is the key industry driver supporting innovation and providing long term industry growth • Moore’s Law will continue and be affordable • Lithography enables affordable shrink and therefore delivers compelling value for our customers • ASML
Slide 6: Business highlights
Public Slide 6 April 20, 2016 Business highlights
Slide 7: Q1 results summary
Q1 results summary Public Slide 7 April 20, 2016 • Q1 sales in line with our guidance • Net sales of € 1,333 million, 33 litho systems sold, valued at € 856 million, net service and field option sales at € 477 million • Average selling price of € 25.9 million per system • Gross margin of 42.6% • Ope
Slide 8: Net system sales breakdown in value
Net system sales breakdown in value Public Slide 8 April 20, 2016 Technology End-Use Region (ship to location) Sales in Units Japan 7% ArF Dry 5% Rest of Asia 1% KrF I-line 2% 15 14% 12 Q1’16 Memory China 35% USA 42% 10% total value 2 4 € 856 Foundry Korea million IDM 48% EUV ArF i ArFdry KrF I-Line
Slide 9: Total net sales million € by quarter
Total net sales million € by quarter Public Slide 9 April 20, 2016 7,000 6,287 6,000 5,856 5,651 5,245 1,434 5,000 1,211 1,494 4,732 Q4 1,023 1,848 4,000 1,549 Net Sales 1,459 1,322 Q3 3,000 1,229 Q2 1,318 1,654 1,529 1,644 2,000 Q1 1,228 1,333 YTD 1,187 1,000 1,452 1,397 1,650 1,252 1,333 892 0 201
Slide 10: Total net sales million € by End-use
Total net sales million € by End-use Public Slide 10 April 20, 2016 7,000 6,287 6,000 5,856 5,651 5,245 767 2,050 5,000 4,732 1,614 1,252 Service & Options 930 Net Sales 4,000 1,856 1,186 Foundry 1,608 3,000 2,064 844 2,279 831 IDM 514 2,000 Memory 440 1,333 YTD 2,184 588 2,225 477 1,000 2,115 1,489
Slide 11: Bookings activity by sector
Bookings activity by sector Public Slide 11 April 20, 2016 Memory 14% New Used Q1’16 total value IDM 19% systems systems € 835 million Foundry Units 24 6 67% Value M€ 802 33 New Used Q4’15 total value Memory Foundry systems systems 47% 52% € 1,184 million Units 39 5 Value M€ 1,174 10 IDM 1% Numbers
Slide 12: System backlog in value
System backlog in value Public Slide 12 April 20, 2016 Technology End-Use Region (ship to location) ArF Dry 3% I-line 2% China 8% KrF Rest of Asia 4% 10% Taiwan Q1’16 Memory 26% Europe 3% EUV 24% Foundry total value 24% 41% € 3,018 New Used Korea systems systems million ArF Immersion IDM 20% USA 61%
Slide 13: Capital return to shareholders
Capital return to shareholders Public Slide 13 April 20, 2016 • Purchased € 223 million worth of our own shares in 2016, through April 3 • Proposed dividend increase to € 1.05 per ordinary share pending approval at the Annual General Meeting of Shareholders on April 29, 2016 Dividend history Cumulat
Slide 14: Business environment
Public Slide 14 April 20, 2016 Business environment
Slide 15: Business environment
Business environment Public Slide 15 April 20, 2016 • 2x nm DRAM node progressing, 1x nm node initial production starting • Planar NAND shrink continues • 3D NAND technology ramping • X-Point initial production expected to start this year Memory • Multiple new foundries fabs accepting equipment in 2
Slide 16: Outlook
Public Slide 16 April 20, 2016 Outlook
Slide 17: Outlook
Outlook Public Slide 17 April 20, 2016 • Our guidance for second-quarter: • Q2 net sales approximately € 1.7 billion ◦ Including about € 110 million on two NXE:3350B sales • Gross margin around 42% ◦ Initial low profitability on early EUV systems and partial EUV revenue recognition at full cost toge
Slide 18: EUV highlights
Public Slide 18 April 20, 2016 EUV highlights
Slide 19: EUV 2016 targets and achievements
EUV 2016 targets and achievements Public Slide 19 April 20, 2016 Productivity - Target: 1500 wafers per day • More than 1000 wafers per day exposed on NXE:3300B at customer sites, further improved to more than 1350 wafers per day on NXE:3350B at ASML • A manufacturing readiness test at a customer si
Slide 20: Financial statements
Public Slide 20 April 20, 2016 Financial statements
Slide 21: Consolidated statements of operations M€
Consolidated statements of operations M€ Public Slide 21 April 20, 2016 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Net sales 1,650 1,654 1,549 1,434 1,333 Gross profit 779 754 703 660 568 Gross margin % 47.2% 45.6% 45.4% 46.0% 42.6% Other income* 21 21 21 21 23 R&D costs (261) (267) (267) (273) (275) S
Slide 22: Cash flows M€
Cash flows M€ Public Slide 22 April 20, 2016 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Net income 403 370 322 292 198 Net cash provided by (used in) operating activities 337 284 420 985 (6) Net cash provided by (used in) investing activities 124 (107) (99) (1,078) (183) Net cash provided by (used in)
Slide 23: Balance sheets M€
Balance sheets M€ Public Slide 23 April 20, 2016 Assets Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Cash & cash equivalents and short-term investments 2,838 2,520 2,681 3,409 3,138 Net accounts receivable and finance receivables 1,510 1,589 1,593 1,208 1,302 Inventories, net 2,607 2,592 2,537 2,574 2,75
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