Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Credit Suisse Annual European Technology Conference 2011
22 slides from Asml Holding Nv's conference presentation, May 11, 2011
Slide 1: Credit Suisse Annual European Technology Conference London
/ Slide 1 Credit Suisse Annual European Technology Conference London Franki D'Hoore, Director European Investor Relations May 11, 2011
Slide 2: Safe Harbor
/ Slide 2 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
Slide 3: Agenda
/ Slide 3 Agenda Business Overview Market ASML business update Outlook and summary
Slide 4: Business Overview
/ Slide 4 Business Overview
Slide 5: Total net sales by quarter 2006-2011
/ Slide 5 2006 2007 2008 2009 2010 2011 Q1 629 949 919 183 742 1452 Q2 942 930 844 277 1069 Q3 958 934 697 555 1176 Q4 1053 955 494 581 1521 Total net sales M€ 3,582 3,768 Numbers have been rounded for readers' convenience. 2,954 1,596 4,508
Slide 6: Q1 results - highlights
/ Slide 6 Q1 results - highlights Net sales of € 1,452 million, 63 systems shipped valued at € 1,284 million, service and field option sales at € 168 million Gross margin of 44.7% Operating margin of 31.0% Net system bookings of 40 systems, € 845 million Backlog at € 3,330 million, 134 systems with
Slide 7: Key financial trends 2010 - 2011
/ Slide 7 Key financial trends 2010 - 2011 Consolidated statements of operations M€ Numbers have been rounded for readers' convenience.
Slide 8: Backlog in value per March 27, 2011
/ Slide 8 Korea Taiwan USA Japan Singapore Europe China 25 17 18 8 13 10 9 DRAM IDM Foundry NAND 27 17 22 0 34 0 immersion KrF 1-line ArF dry 74 19 2 5 Backlog in value per March 27, 2011 Total value M€ 3,330 Technology ArF immersion 74% KrF 19% I-Line 2% Region (ship to location) USA 18% Taiwan 17%
Slide 9: Bookings activity by sector
/ Slide 9 DRAM idm foundry NAND 23 5 26 46 Foundry 26% DRAM 23% NAND 46% Bookings activity by sector - total value M€ 845 Bookings in value Bookings in units IDM 5% DRAM idm foundry NAND 20 8 25 47 IDM 8% Foundry 25% DRAM 20% NAND 47% Booked 36 new tools at € 832 million, 4 used at € 13 million Numb
Slide 10: Market
/ Slide 10 Market
Slide 11: Business environment
/ Slide 11 Business environment Semiconductor manufacturers have shown caution in assessing economic impact of Japanese earthquake on their supply chain and end-product markets Although direct impact to the electronics industry world- wide seems limited, it has caused some of our customers to review
Slide 12: Device complexity drives litho opportunity due to growing number of critical litho layers
/ Slide 12 Device complexity drives litho opportunity due to a growing number of critical litho layers 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 Add. layers per year Immersion Exposures Average MPU immersion layer
Slide 13: Required immersion layers keeps increasing per node, per year in memory also
/ Slide 13 Required immersion layers keeps increasing per node, per year in memory also Node 8x, 6x 6x, 5x 5x, 4x 4x, 3x 3x, 2x Node 5x, 4x 4x, 3x 4x, 3x 3x, 2x 2x, 1x Source: ASML Marketing (03/11), 300mm wafers only Average DRAM immersion layers Average DRAM immersion layers Average DRAM immersion
Slide 14: Slightly decreased consumption & revenues in February 2011, stable days of inventory
/ Slide 14 Slightly decreased consumption & revenues in February 2011, stable days of inventory (36) Source: VLSI Research, WSTS, ASML Last data point: February 2011
Slide 15: DRAM pricing and cash costs
/ Slide 15 Source: DRAMeXchange (1/4/2011), ASML MCC First improvement in DDR3 contract prices visible, Not enough yet to bring tier 2/3 players back to profitability Customer litho system utilizations high DRAM (64), 1Gb (5x H), 1 Gb (5x L), 1 Gb (4x H), 2 Gb Estimated DRAM cash costs in Q1/11 (avg
Slide 16: NAND cash costs and spot prices
/ Slide 16 NAND 300 mm cash-costs for 3x nm 32 Gb 2 b/c MLC NAND between 3,2 and 4,0 USD Spot prices peaked in March due to fear of shortages after Japan earthquake, SLC spot-prices increased due to change in product-mix Customer litho tool utilization remain high Source: DRAMeXchange (1/4/2011), AS
Slide 17: ASML business update
/ Slide 17 ASML business update
Slide 18: Technology - EUV
/ Slide 18 Technology - EUV NXE:3100 second generation EUV Three NXE:3100 shipped to date, 3 more to go Progress ongoing to reach target throughput by year end Customer process development started Infrastructure development transitioning to optimization phase (masks, resist, metrology, etc) Revenue
Slide 19: Cash return
/ Slide 19 Cash return € 2.7B cash & cash equivalents at end Q1 2011 € 1 B / 24 month share buy back program in progress 21% of program executed until wk 19 7 million shares repurchased at an average price of € 29.66 Weekly updates available on ASML's website Dividend for 2010 of € 0.40 per ordinary
Slide 20: Outlook and summary
/ Slide 20 Outlook and summary
Slide 21: Q2 2011 outlook
/ Slide 21 Q2 2011 outlook Order intake between € 900 million - €1 billion Net sales around € 1.5 billion Gross margin about 45% R&D at € 150 million SG&A at € 55 million ASML expects 2011 total revenue clearly above € 5 billion
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/ Slide 22
Asml Holding — Credit Suisse Annual European Technology Conference 2011 on 6ix