Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — 2010 U.S. Technology Conference, Bank of America Merrill Lynch
32 slides from Asml Holding Nv's conference presentation, Jun 14, 2010
Slide 1: 2010 U.S. Technology Conference, Bank of America Merrill Lynch
2010 U.S. Technology Conference Bank of America Merrill Lynch Craig DeYoung V.P. Investor Relations and Corporate Communications June 3, 2010
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 ASML Overview Business summary Lithography trends Outlook and summary
Slide 4: ASML Overview
ASML Overview
Slide 5: ASML: Leading supplier of lithography equipment to the semiconductor industry
ASML : Leading supplier of lithography equipment to the semiconductor industry Headquarters: Veldhoven, The Netherlands Market Cap approx € 10 B
Slide 6: ASML's historic market share growth
Source: ASML, SEMI ASML's historic market share growth ASML's historic market share growth 0% 10% 20% 30% 40% 50% 60% 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 Total market: $2500 million 2009 ASML Nikon Canon 67 29 4 70% Sources: VLSI, Gartner (1988-2009), SEMI (1980-2009) $
Slide 7: #2 semiconductor equipment supplier with approx. 6500 employees worldwide
ASML employees in US: 1,470 Source: ASML Q4, 2009 Over 60 sales and service offices located worldwide ASML employees in Europe: 3,800 ASML employees in Asia: 1,327 ASML: #2 semiconductor equipment supplier with approx. 6500 employees worldwide 19% sales 76 % sales 5%
Slide 8: Business summary
Business’ W & ASML Y
Slide 9: Analyst semiconductor growth outlook for 2010 increased to 23.2%
Due to strong Q1 2010 IC revenues, the average analyst semiconductor growth outlook for 2010 has increased to 23.2% Sources: See chart (5/2010) Weighted average is based on age of forecast from market institute and respective level of accuracy for the last 3 years Increased forecasts mainly driven b
Slide 10: Total inventories slightly increased in March while IC inventory days decreased
Total inventories slightly increased in March while IC inventory days decreased, due to higher IC unit sales Source: VLSI Research, WSTS, ASML Last data point: March 2010
Slide 11: Foundry Top-4 Utilization Performance
Foundry Top-4 Utilization Performance 4x40 hr filter applied Foundry Utilizations high across all sectors - Foundry segment example segment example segment example
Slide 12: ASML Q1 results - highlights
ASML 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 Backlo
Slide 13: Quarterly net sales 2003-2010 and guidance
2003 2004 2005 2006 2007 2008 2009 2010 Q1 318 453 685 629 949 919 183 742 Q2 329 616 763 942 930 844 277 1000 Q3 370 611 533 958 934 697 555 Q4 526 785 548 1053 955 494 581 Total net sales M€ 1,543 2,465 2,529 3,582 3,768 Numbers have been rounded for readers' convenience. 2,954 1,596 ASML *guidanc
Slide 14: Key financial trends - Q3'09, Q4'09, Q1'10 and Guidance Q2'10
Key financial trends - Q3,4'09, Q1'10 and Guidance Q2'10 Consolidated statements of operations M€ Numbers have been rounded for readers' convenience. Numbers have been adjusted for consolidation of variable interest entity
Slide 15: Backlog: highest value in history with modest unit backlog
Backlog: - Highest value in history with modest unit backlog showing ASP strength Backlog Jan 04 Apr 04 Jul 04 Oct 04 Jan 05 Apr 05 Jul 05 Oct 05 Jan 06 Apr 06 Jul 06 Oct 06 Jan 07 Apr 07 Jul 07 Oct 07 Jan 08 Apr 08 Jul 08 Oct 08 Jan 09 4/9/2009 Jul 09 Oct 09 Jan 10 Apr 10 Backlog value 993 1357 180
Slide 16: Current backlog driven by DRAM
Korea Taiwan USA Japan Singapore Europe China 23 31 19 11 6 3 7 DRAM IDM Foundry NAND 60 14 11 12 0 0 immersion KrF 1-line ArF dry 89 9 1 1 Current backlog driven by DRAM Total value M€ 2,170 as per March 28,2010 Technology ArF immersion 89% KrF 9% i-line 1% Region USA 19% Taiwan 31% Korea 23% Europ
Slide 17: Lithography trends
Lithography trends
Slide 18: IC segment roadmaps - each at a different pace
IC segment roadmaps - each at a different pace between and within sectors ASML supports shrink roadmap Year of production start* Resolution/half pitch, "Shrink" [nm] 20 30 40 50 60 80 200 100 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 ARF ARFi EUV Logic *Average customer input, (1/10) N
Slide 19: Customer lithography roadmap by sector
Customer lithography roadmap by sector EUV Single exposure Double patterning ie.,Spacer Double patterning LELE Source: ASML Marketing (4/10)
Slide 20: TWINSCAN NXT:1950i - ArFi Immersion Scanner for Double Patterning
TWINSCAN NXT:1950i - ArFi Immersion Scanner for Double Patterning 30nm and smaller for all sectors Productivity more than 175 wafers per hour Overlay less than 3 nm
Slide 21: ASML Immersion Extendable Product Roadmap
Slide 21 | ASML Immersion Extendable Product Roadmap improved CD and overlay control at > 200 W/hr productivity 1SMO: Single Machine Overlay 2DCO: Dedicated Chuck Overlay 3ASML Patterned defect test Available Available Available Q4-2010 Q4-2011 XT:1900Gi XT:1950Hi NXT:1950i NXT:1950i+PEP NXT:1950i+E
Slide 22: TWINSCAN NXT moving to volume chip manufacturing
TWINSCAN NXT moving to volume chip manufacturing TWINSCAN NXTs shipped to several customers for start 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 '10 Growing backlog - 28
Slide 23: DRAM industry wafer production capacity
Source: ASML (4/10) * Gartner DRAM bit forecast (3/10): 2009 2010 2011 Mio GB (new): 1348 2123 3129 YoY gr.: +24% +57% +47% DRAM industry wafer production capacity 2 concurrent node transitions in 2010
Slide 24: NAND industry wafer production capacity
Source: ASML (4/10) * Gartner NAND bit forecast (3/10): 2009 2010 2011 Mio GB (new): 6467 10718 19680 YoY gr.: +43% +66% +84% NAND industry wafer production capacity 2 concurrent node transitions in 2010
Slide 25: DRAM bit sufficiency analysis: continued undersupply throughout 2010
DRAM bit sufficiency analysis: Continued undersupply throughout 2010 Sources. Bit Supply: ASML (4/10). Bit Demand: Gartner (3/10) * Gartner DRAM bit forecast (3/10): 2009 2010 2011 Mio GB (new): 1348 2123 3129 YoY gr.: +24% +57% +47%
Slide 26: NAND bit sufficiency analysis: supply/demand in reasonable balance
NAND bit sufficiency analysis: Supply/Demand in reasonable balance through end 2010 Sources. Bit Supply: ASML (4/10). Bit Demand: Gartner (03/10) * Gartner NAND bit forecast (3/10): 2009 2010 2011 Mio GB (new): 6467 10718 19680 YoY gr.: +43% +66% +84%
Slide 27: Sector summary
Sector summary DRAM Significant new immersion lithography tools required as immersion layers increase from node to node which will continue in 2011 2010 DRAM bit growth primarily met by shrink, 2011 expected to be met by continued shrink and wafer capacity adds NAND Immersion demand ramping in Q3 an
Slide 28: ASML Systems: 300mm Memory
ASML Systems: 300mm Memory Average number of systems required for new fab 120k wafers/month 100k wafers/month 3xnm NAND 32 litho layers ArFi ArF KrF KrF ArF I-Line I-Line KrF KrF I-Line I-Line KrF I-Line I-Line I-Line ArFi ArFi ArFi ArFi I-Line I-Line I-Line KrF KrF KrF ArFi KrF KrF KrF KrF KrF KrF
Slide 29: Outlook and summary
Outlook and summary
Slide 30: 2010 outlook
2010 outlook Q2 Net sales expected around € 1 billion Q2 bookings are expected at similar level as in Q1 2010 (€ 1,004 M) We expect this cycle to be sustained by the normal technology transitions of the early adopters, the subsequent technology conversions by second tier DRAM makers, the next Flash
Slide 31: Summary
Summary ASML is leading in meeting the industry's shrink roadmaps Overall IC demand at high levels Inventories appear to well managed IC factory utilizations remain high Device demand in 2011 will require continued shrink for cost and wafer capacity adds for volume
Slide 32: Slide 32
Asml Holding — 2010 U.S. Technology Conference, Bank of America Merrill Lynch on 6ix