Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Taiwan, Technology and Beyond Conference 2011
32 slides from Asml Holding Nv's conference presentation, Mar 28, 2011
Slide 1: Taiwan, Technology and Beyond Conference
Taiwan, Technology and Beyond Conference Bank of America Merrill Lynch Craig DeYoung - VP Investor Relations Taipei, Taiwan March 15, 2011
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 Market update ASML business update Outlook and summary
Slide 4: ASML Overview
ASML Overview
Slide 5: ASML - one of the world's leading suppliers of lithography equipment
ASML - one of the world's leading suppliers of lithography equipment for semiconductor manufacturing equipment for semiconductor manufacturing equipment for semiconductor manufacturing Veldhoven, the Netherlands Veldhoven, the Netherlands NXT 1950 Immersion Scanner
Slide 6: Fourth Quarter 2010 Highlights
Fourth Quarter 2010 Highlights Revenue growth of 160% YoY and 30% QoQ Operating margin of 32.4% Shipped 28 immersion systems (leading edge tools) Record bookings of € 2,315 million Backlog increased to € 3,856 million, 157 systems with ASP of € 27.7 million for new tools, including 67 immersion tool
Slide 7: Total net sales by quarter 2005-2010
2005 2006 2007 2008 2009 2010 Q1 685 629 949 919 183 742 Q2 763 942 930 844 277 1069 Q3 533 958 934 697 555 1176 Q4 548 1053 955 494 581 1521 Total net sales M€ 2,529 3,582 3,768 Numbers have been rounded for readers' convenience. 2,954 1,596 4,508
Slide 8: Backlog by technology, region and end-use
Korea Taiwan USA Japan Singapore Europe China 11 23 28 4 13 11 10 DRAM IDM Foundry NAND 27 21 33 0 19 0 immersion KrF 1-line ArF dry 71 22 1 6 Backlog in value per December 31, 2010 Total value M€ 3,856 Technology ArF immersion 71% KrF 22% I-Line 1% Region (ship to location) USA 28% Taiwan 23% Korea
Slide 9: Semi Equipment Market grew 101% in 2010 - ASML grew 163%
Semi Equipment Market grew 101% in 2010 - ASML grew 163% - Takes # 2 slot amongst Semi Equip suppliers 163% - Takes # 2 slot amongst Semi Equip suppliers 163% - Takes # 2 slot amongst Semi Equip suppliers Source: VLSI Research
Slide 10: Market Update
Market Update
Slide 11: All sectors are ramping their new nodes
All sectors are ramping their new nodes Wafer starts per node Wafer starts per node Wafer starts per node DRAM NAND Logic MPU Source: ASML estimates
Slide 12: Memory
Public ys ASML
Slide 13: DRAM pricing and cash costs
Source: DRAMeXchange (4/3/2011), ASML MCC DDR3 contract prices stable (at low level) Only aggressive shrink during Q1/11 could bring tier 2/3 players back to profitability DRAM 6X node, 1Gb 5x H node, 1 Gb 5x L node, 1 Gb 4x node, 2 Gb Estimated DRAM cash costs in Q1/11 (avg. production node in nm)
Slide 14: NAND cash costs and demand
NAND 300 mm cash-costs for 3x nm 32 Gb 2 b/c MLC NAND between 3,2 and 4,0 USD Healthy demand for NAND-based electronic devices resulting in recent price increases for SLC-, MLC- and TLC-ICs Source: DRAMeXchange (4/3/2011), ASML MCC 300 mm cash-costs for 3x nm 32 Gb 3 b/c MLC NAND between 2,6 and 3,2
Slide 15: Immersion layers per node for memory devices
Number of immersion layers keeps increasing per node, per year for memory devices Node 8x, 6x 6x, 5x 5x, 4x 4x, 3x 3x, 2x Node 5x, 4x 4x, 3x 4x, 3x 3x, 2x 2x, 1x 0 2 4 6 8 10 2008 2009 2010 2011 2012 Add. layers per year Immersion Exposures Average DRAM immersion layers per year 0 2 4 6 8 2008 2009
Slide 16: Logic
Public ys ASML
Slide 17: IDMs transfer leading edge process to foundries in time
IDMs transfer leading edge process to foundries in time Source: ASML Marketing (3/11), Gartner (2/11) Source: ASML Marketing (3/11), Gartner (2/11) Foundries
Slide 18: Foundries expected to manufacture 92% of leading-edge logic wafers
Source: IBS (10/2010) Foundries expected to manufacture 92% of the WW leading-edge* logic wafers by 2014 vs. 69% in 2009 * Include Application Processors, ASSPs, FPGAs, GPUs and other advanced logic manufactured at ^90 nm done done
Slide 19: Immersion layers per node for logic devices
Number of immersion layers keeps increasing per node, per year for all logic devices Source: ASML Marketing (03/11) 300mm wafers only Node 9x,6x 9x, 6x 6x ,4x 6x, 4x 4x, 3x Node 6x, 4x 6x, 4x 4x, 3x 3x, 2x 2x, 1x 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 2008 2009 2010 2011 2012 Add. layers per year [
Slide 20: Logic lithography requires 4.5X investment vs NAND
Logic lithography requires 4.5X Euro investment in ASML immersion scanner vs NAND for same size wafer start fab at current nodes 45k wafers/month All scenarios are based on "typical" process using 2011 system productivity levels. Customers process and wafer start requirements will vary. 120k wafers/
Slide 21: Under-investment in advanced logic capacity requires catch up
World-wide under-investment in advanced logic capacity requires a structural catch up Source: ASML Marketing (3/11), Gartner (2/11) (forecast) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Capital Intensity Foundry Capital Intensity Capital Intensity
Slide 22: Sector Review
Sector Review Memory sectors appear to be under investing in litho to forecasted demand levels. DRAM pricing is stable and may turn in manufacturers favor. Both DRAM & NAND are expected to show shortages during 2H/11. If simulated memory demand levels cannot be delivered in 2011 an additional 400 M€
Slide 23: Products/Tech
Products/Tech Public y ASML
Slide 24: Expected customer lithography roadmap by sector
Expected customer lithography roadmap by sector Manufacturing insertion timing EUV Single exposure Double patterning ie.,Spacer Double patterning LELE Source: ASML Marketing (4/10) EUV INSERTION TIME FAVORED BY DESIGN LIMITATIONS, COST AND PROCESS CONTROL REQUIREMENTS OF DOUBLE PATTERNING, MAKING EU
Slide 25: Leading Position in Immersion and EUV
Leading Position in Immersion and EUV Source: ASML Immersion Lithography Leader Installed Base >239 Systems at 22 Customers, across all sectors and geographies Pilot Production EUV for 22nm and beyond 6 systems shipping to all sectors thru 2011 NXT:1950i NXE:3100
Slide 26: Technology - EUV
Technology - EUV Orders received for 9 NXE:3300 production systems to be delivered in 2012 EUV confirmed to be the most likely lithography platform to continue Moore's law to beyond 2020 NXE: 3300
Slide 27: ASML EUV Product Roadmap
ASML EUV Product Roadmap NXE:3300 numerical aperture increased to 0.33 * Requires <7 nm resist diffusion length 2006 2010 2012 2013 Proto System NXE:3100 NXE:3300B NXE:3300C Resolution 32 nm 27 nm 22 nm 18/16* nm NA / ^ 0.25 / 0.5 0.25 / 0.8 0.33 / 0.2-0.9 0.33 / OAI Overlay (DCO/MMO) < 7 nm < 4/7 n
Slide 28: Source power progress
Source power progress 10x per year 60 W/hr still provides challenge Timeline 0.1 1 10 100 1000 Q1/2009 Q1/2010 Q1/2011 end/2012 250W 125wph 15mJ/cm2 ~10W 5wph 10mJ/cm2 ~1W 0.5wph 10mJ/cm2 end/2011 ~105W 60wph 10mJ/cm2 Source power [W] Aggregate roadmaps of source suppliers
Slide 29: Construction of new EUV facilities
Existing EUV offices & manufacturing, 8 cabins. New EUV offices & manufacturing,15 cabins. Construction of new EUV facilities has started Planned NXE production capacity increases ~3x
Slide 30: EUV is moving forward
EUV is moving forward ASML has 4 years of accumulated EUV field experience with 1st generation EUV tools at research institutes in Belgium and the US 2nd generation EUV NXE:3100 system shipment in progress, 1 system installed and used on customer production site 1 system in installation, 4 additiona
Slide 31: ASML Strategy and Focus
ASML Strategy and Focus Continue the large R&D outlay to ensure leadership through high product differentiation and provide customers with enabling technologies Improve profitability further by: Improving product mix towards value added software support tools Keeping fixed cost structure to a low br
Slide 32: Slide 32
Asml Holding — Taiwan, Technology and Beyond Conference 2011 on 6ix