Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Q1 2004 Earnings Presentation
17 slides from Asml Holding Nv's earnings presentation, Apr 21, 2004
Slide 1: Q1 2004 Results
Q1 2004 Results April 21, 2004 / Slide 1
Slide 2: Safe Harbor
Safe Harbor “Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995: the matters discussed during this presentation include forward-looking statements that are subject to risks and uncertainties including, but not limited to, economic conditions, product and pricing,
Slide 3: Agenda
Agenda l Summary Q1 2004 l Financial Summary l Focus Q2 2004 / Slide 3
Slide 4: Summary Q1 2004
Summary Q1 2004 G & ASML / Slide 4
Slide 5: Summary Q1 2004: good, solid results
Summary Q1 2004: good, solid results l Revenue for system sales and service: M€ 453 l Sold 58 lithography systems: 42 new, 16 refurbished l Increased backlog to 163 systems, up 31% Q-o-Q l Increased backlog ASP for new systems from M€ 9.2 to M€ 9.6 l Net income: M€ 21, an increase of 31% Q-o-Q l Imp
Slide 6: Financial summary
Financial summary G & ASML / Slide 6
Slide 7: Revenues
Total revenues M€ Total Semi-annual 3000 Q1 2673 Q2 2500 Q3 Q4 1959 2000 1493 Revenues 1589 1543 1500 820 526 759 1000 351 370 1180 500 609 329 830 318 453 179 0 2000 2001 2002 2003 2004 / Slide 7
Slide 8: New and used system revenues by region, type and technology: Q1 2004
New and used system revenues by region, type and technology: Q1 2004 Region Type U.S. 21% Europe 10% Steppers 4% Asia 69% Scanners 300 mm Scanners 200 mm 56% 40% Technology 365 nm 14% 193 nm 20% 248 nm 66% / Slide 8
Slide 9: Overview historical financials consolidated M€
Overview historical financials consolidated M€ 2003 FY 2003 Q1 2004 Q1 ASML Net sales 1,543 100.0% 318 100.0% 453 100.0% Gross profit 369 23.9% 53 16.6% 146 32.2% R&D costs 287 18.6% 76 23.9% 70 15.4% SG&A costs 2371 15.4% 672 21.0% 423 9.2% Operating income from continuing operations (155) (10.0)%
Slide 10: Cash flow M€
Cash flow M€ 2003 FY 2003 Q1 2004 Q1 Net income (125) (69) 21 Depreciation and amortization 157 35 26 Effects of changes in assets and liabilities 477 93 62 Cash flow from operations 509 59 109 Cash flow from investing activities (26) (19) 2 Cash flow from financing activities (68) 0 7 Cash flow fro
Slide 11: Balance sheet as of Mar 28, 2004 M€
Balance sheet as of Mar 28, 2004 M€ ASSETS Dec 2003 Mar 2004 Cash and cash equivalents 1,028 35.8% 1,152 38.2% Accounts receivable, net 314 10.9% 317 10.5% Inventories, net 595 20.8% 599 19.9% Other assets 193 6.7% 225 7.5% Tax assets 375 13.1% 380 12.6% Fixed assets 363 12.7% 341 11.3% TOTAL ASSETS
Slide 12: Backlog: litho units vs. value
Backlog: litho units vs. value 250 2000 New systems Used systems 200 New and used systems 1500 Backlog value M€ Backlog units 150 1000 100 500 50 0 0 02 03 02 03 02 03 02 03 04 02 n n p p ec ec n ar ar ar Ju Ju Se Se Ja M M M D D / Slide 12
Slide 13: Backlog lithography per March 28, 2004
Backlog lithography per March 28, 2004 Total value M€ 1,357 Value per type Value per technology Steppers 365 nm Scanners 3% 15% 300 mm Scanners 64% 200 mm 193 nm 33% 33% 248 nm 52% Value per region Value per end-use Korea China IDM 19% 13% Singapore 24% Foundry 16% 46% Europe 11% Taiwan U.S. Memory
Slide 14: Backlog as of March 28, 2004
Backlog as of March 28, 2004 New Systems Used Systems Total Backlog Backlog Backlog Units 135 28 163 Value M€ 1,293 M€ 64 M€ 1,357 ASP M€ 9.6 M€ 2.3 M€ 8.3 Numbers have been rounded for readers’ convenience. / Slide 14
Slide 15: Focus Q2 2004
Focus Q2 2004 G & ASML / Slide 15
Slide 16: Focus Q2 2004
Focus Q2 2004 l Continue to reduce Cost of Goods and contain operational costs l Improve gross margin by 2% Q-o-Q l Deliver first TWINSCAN XT:1250 l Continue to focus on Value of Ownership with customers l Maintain control of working capital l Build on leadership position / Slide 16
Slide 17: Commitment
Commitment / Slide 17