Slide 1: ASML 2012 Second Quarter Results
ASML 2012 Second Quarter Results ASML confirms steady sales for the remainder of the year Veldhoven, the Netherlands July 18, 2012
Slide 2: Safe Harbor
Safe Harbor Public Slide 2 18 July 2012 "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, including expected sales trends, expected shipmen
Slide 3: Agenda
Public Slide 3 18 July 2012 • Business summary • Co-investment program • Market • ASML technology strategy • Outlook
Slide 4: Business summary
Public Slide 4 18 July 2012 Business summary
Slide 5: Q2 results - highlights
Q2 results - highlights Public Slide 5 18 July 2012 • Net sales of € 1,228 million, 44 systems sold valued at € 985 million, net service and field option sales at € 243 million • Gross margin of 43.2% • Operating margin of 27.0% • Net bookings of € 949 million, 43 systems • Backlog at € 1,503 millio
Slide 6: Net Sales
Total net sales M€ Public Slide 6 18 July 2012 6000 5,651 Q1 5000 1,211 Q2 4,508 Q3 Q4 4000 3,768 1,521 1,459 Net Sales 955 2,954 3000 494 934 1,176 697 1,529 2000 1,596 1,228 930 844 581 1,069 1000 555 1,452 1,252 949 919 742 277 0 183 2007 2008 2009 2010 2011 2012 Numbers have been rounded for rea
Slide 7: Net system sales breakdown in value: Q2 2012
Net system sales breakdown in value: Q2 2012 Public Slide 7 18 July 2012 Technology End-Use NAND 18% DRAM 9% KrF 27% I-Line 1% IDM 12% Region Foundry ArF Immersion 61% 72% Taiwan 43% USA 22% Sales in Units 22 18 Japan 4% 4 Korea Numbers have been 26% Europe 4% rounded for readers’ EUV ArF i ArFdry K
Slide 8: Consolidated statements of operations M€
Consolidated statements of operations M€ Public Slide 8 18 July 2012 Q1 12 Q2 12 Net sales 1,252 1,228 Gross profit 524 530 Gross margin % 41.8% 43.2% R&D costs 145 145 SG&A costs 55 55 Income from operations 324 331 Operating income % 25.8% 27.0% Net income 282 292 Net income as a % of net sales 22
Slide 9: Key financial trends 2011 – 2012
Key financial trends 2011 – 2012 Public Slide 9 Consolidated statements of operations M€ 18 July 2012 Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Net sales 1,529 1,459 1,211 1,252 1,228 Gross profit 690 613 496 524 530 Gross margin % 45.1% 42.1% 41.0% 41.8% 43.2% R&D costs 145 150 150 145 145 SG&A costs 51 56 56
Slide 10: Cash flows M€
Cash flows M€ Public Slide 10 Q1 12 Q2 12 18 July 2012 Net income 282 292 Adjustments to reconcile net income to net cash flows from operating activities: Impairment and obsolescence 24 55 Includes € 850 Depreciation and amortization 50 57 million short term investments in Deferred income taxes 22 1
Slide 11: Balance sheets M€
Balance sheets M€ Public Slide 11 Assets Apr 1st, 2012 Jul 1st, 2012 18 July 2012 Cash, cash equivalents and short-term investments 2,953 40% 2,702 38% Accounts receivable, net 761 10% 632 9% Finance receivables, net 79 1% 122 2% Inventories, net 1,608 22% 1,721 24% Other assets 551 8% 526 7% Tax as
Slide 12: Bookings activity by sector, EUV not included
Bookings activity by sector, EUV not included Public Slide 12 Total value M€ 949 18 July 2012 Net booked NAND 19% • 38 new tools at € 896 million DRAM • 5 used tools at € 53 million 23% Foundry 36% IDM 22% Numbers have been rounded for readers’ convenience.
Slide 13: Backlog in value per July 1st, EUV not included
Backlog in value per July 1st, EUV not included Public Slide 13 Total value M€ 1,503 18 July 2012 Region Technology (ship to location) USA 30% KrF 22% Taiwan I-Line 3% 20% Japan 5% ArF dry 1% Singapore 4% End-use ArF immersion Korea 27% Europe 10% Foundry 74% 33% China 4% IDM 31% 85% of backlog New
Slide 14: Share buy back
Share buy back Public Slide 14 18 July 2012 Cumulative share buy back 2011 - 2012 € 1,200 Millions € 1,000 € 800 € 600 € 400 € 200 €0 week 8 week 8 week 12 week 16 week 20 week 24 week 28 week 32 week 36 week 40 week 44 week 48 week 52 week 12 week 16 week 20 week 24 2011 week 4 2012 week 4 • For re
Slide 15: Co-investment program
Public Slide 15 18 July 2012 Co-investment program
Slide 16: Customer co-investment program announced July 9th
Customer co-investment program announced July 9th Public Slide 16 18 July 2012 • Announced program where customers can contribute up to € 1.38 billion over the next 5 years to accelerate the development of next generation technology • EUV technology beyond the current generation • Development of 450
Slide 17: Market
Public Slide 17 18 July 2012 Market
Slide 18: Business environment
Business environment Public Slide 18 18 July 2012 • ASML’s H2 2012 revenue level is expected to be between € 2.2 billion and € 2.4 billion sustained by: • An increase of NAND memory critical layer systems shipments • Stability of DRAM memory systems sales • Lower 28/32 nm Logic demand in H2 compared
Slide 19: ASML technology strategy
Public Slide 19 18 July 2012 ASML technology strategy
Slide 20: Immersion – Productivity improvements
Immersion – Productivity improvements Public Slide 20 18 July 2012 • TWINSCAN NXT:1950 productivity of 230 wafers per hour now the standard • Shipped 30 systems to customers to date • System upgrades at customer manufacturing sites has begun • Our best TWINSCAN NXT:1950i • Printed more than 5,100 wa
Slide 21: EUV status – NXE:3300
EUV status – NXE:3300 Public Slide 21 18 July 2012 • Exposed first wafers on the NXE:3300 EUV scanners, the volume production successor of the NXE:3100 • First NXE:3300 is expected to ship by end 2012 or early 2013 • Shipment of the remainder of the 11 tools on order is planned in 2013 • Received cu
Slide 22: EUV status - source
EUV status - source Public Slide 22 18 July 2012 • EUV source, 50 Watt power capability has been repeatedly demonstrated at a supplier • 105 Watt concept potential has been confirmed in lab experiments, supporting our roadmap to volume production systems starting at 70 wafers per hour in 2014 • In s
Slide 23: Stability of source power improved
Stability of source power improved 50W in-burst dose-controlled power at 40% duty cycle Energy, timing, and position under closed loop control 1.2 1 50 W Avg Energy [mJ] 0.8 E TY Z 0.6 0.4 5.5 hours 0.2 0 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 Time [Hours] Source: Cymer
Slide 24: NXE:3300 scanner complete, now exposing wafers
June 20th 2012 NXE:3300 scanner complete, source (LDP) operational, mini-track interfaced, now exposing wafers…..
Slide 25: NXE:3300B integration status
NXE:3300B integration status Proto 1 Pilot 1 reliability testing Pilot 2 reliability testing First exposure in resist done Cymer install and plasma Ushio source installation Coarse lens setup qualification Pilot 3 Pilot 4 Pilot 5 Dynamics performance testing Reticle handler installation Bottom modul
Slide 26: Outlook
Public Slide 26 18 July 2012 Outlook
Slide 27: Q3 Outlook
Q3 Outlook Public Slide 27 18 July 2012 • Net sales around € 1.2 billion • Gross margin about 43% • R&D costs at € 145 million • SG&A costs at € 60 million* ASML on track for H2 2012 sales between € 2.2 and € 2.4 billion * SG&A costs planned at higher run rate due to extra IT investments
Slide 28: ASML
ASML