Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Q1 2005 Earnings Presentation
18 slides from Asml Holding Nv's earnings presentation, May 5, 2005
Slide 1: Q1 2005 Results
Q1 2005 Results April 13, 2005
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 document may include forward-looking statements that are subject to risks and uncertainties including, but not limited to: economic conditions, product demand and semico
Slide 3: Agenda
Agenda Accomplishments Q1 2005 Financial summary Company focus Outlook summary
Slide 4: Accomplishments Q1 2005
Accomplishments Q1 2005
Slide 5: Financial accomplishments Q1 2005
Financial accomplishments Q1 2005 Growth Revenue growth 51% Q1 2005 vs Q1 2004 Net bookings 35 systems, up 20% quarter on quarter New system ASP increased from M€ 10.7 in Q4 to M€ 12.3 in Q1 2004 market leader at 51% according to Gartner Dataquest Japan penetration progressing with significant new b
Slide 6: Technology/market accomplishments Q1 2005
Technology/market accomplishments Q1 2005 TWINSCAN XT:1400 Successfully introduced highest NA ArF tool with 8 shipments this quarter Tool is specified for 65 nm volume manufacturing and 45 nm pre-production and testing Immersion lithography 3 Systems are operating at customer sites 10 machines in ba
Slide 7: Financial summary
Financial summary
Slide 8: Total revenues M€
759 609 1493 329 616 Total revenues M€ 2673 1589 1959 1180 1000 1500 2000 2500 3000 2000 2001 2002 2003 H2 H1 Q1 Q2 Q3 Q4 1543 2004 1070 2465 2005
Slide 9: Revenue breakdown: Q1 2005
units Others TWINSCAN I-line KrF ArF Revenue breakdown: Q1 2005 Value per type Value per technology TWINSCAN 85% Others 15% Value per region Value per end-use U.S. 25% Foundry 23% Memory 54% Taiwan 13% IDM 23% Korea 46% KrF 51% ArF 42% I-line 7% China 1% Singapore 8% Europe 4% Japan 3% Numbers have
Slide 10: Overview historical financials consolidated M€
ASML 2004 FY 2004 Q1 2004 Q4 2005 Q1 Net sales Gross profit R&D costs SG&A costs Operating income Net income Overview historical financials consolidated M€ 2465 Numbers have been rounded for readers’ convenience 1 SG&A costs include a positive adjustment of M€ 6 for restructuring expenses
Slide 11: Cash flow M€
2004 FY 2004 Q1 2004 Q4 2005 Q1 Net income Depreciation and amortization Effects of changes in assets and liabilities Cash flow from recurring operations License cost Cash flow from investing activities Cash flow from financing activities Effect of changes in exchange rates on cash Net cash flow Cas
Slide 12: Balance sheet as of March 27, 2005 M€
ASSETS Dec 2004 Mar 2005 Cash and cash equivalents Accounts receivable, net Inventories, net Other assets Tax assets Fixed assets LIABILITIES and SHAREHOLDERS’ EQUITY Current liabilities Tax liability Long term debts Shareholders’ equity Balance sheet as of March 27, 2005 M€ 1228 37.9 % 1320 39.4 %
Slide 13: Backlog: litho units vs. value
Backlog: litho units vs. value 1000 1500 2000 2500 Used Systems New systems Backlog value New and used systems
Slide 14: Backlog as of March 27, 2005
New Systems Used Systems Total Backlog Units Value ASP Backlog Backlog Backlog as of March 27, 2005 M€ 1316 M€ 61 M€ 1377 M€ 14.3 M€ 4.1 M€ 12.9 Numbers have been rounded for readers’ convenience 80% of unit backlog carry Q2 + Q3 shipment dates Note: Due to possible customer changes in delivery sche
Slide 15: Backlog lithography per March 27, 2005
Backlog lithography per March 27, 2005 Total value M€ 1377 Value per type Value per technology TWINSCAN 89% Others 11% KrF 27% ArF 68% Value per region Value per end-use U.S. 29% R&D 2% Foundry 23% Memory 42% Taiwan 19% IDM 33% Korea 23% I-line 5% China 5% Singapore 8% Europe 13% Japan 3% Numbers ha
Slide 16: Outlook summary
Outlook summary ASML backlog supports shipment of approx. 50 tools in Q2 2005 with ASP of M€ 13.3 Backlog supports gross margin in the 38-40% and 36-38% respectively for Q2 2005 and Q3 2005 Industry shows positive signs of firming up, but the slow rate of improvement suggests that Q2 2005 orders are
Slide 17: Company focus 2005
Company focus 2005 Technology leadership R&D budget to be increased to approx. 80 million, net of credit, each quarter in 2005 Third generation immersion on track for deliveries starting Q3 2005 Development of mid critical layer tool according to plan for introduction Q4 2005 Hyper-NA machine planne
Slide 18: Commitment
Commitment