Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Jefferies Global Technology, Internet, Media and Telecom Conference 2011
22 slides from Asml Holding Nv's conference presentation, May 12, 2011
Slide 1: Jefferies Global Technology, Internet, Media and Telecom Conference
Jefferies Global Technology , Internet, Media and Telecom Conference New York, New York Craig De Young – Vice President Investor Relations May 12, 2011 Exhibit 99.1
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 Business Overview Market ASML business update Outlook and summary
Slide 4: Business Overview
Business Overview
Slide 5: Sales History
1,000 2,000 3,000 4,000 5,000 6,000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Sales History M€ 3,582 3,768 Numbers have been rounded for readers’ convenience. 2,954 1,596 4,508 1,959 1,589 2,465 2,529 1,543 2011 Average analyst estimates* Q1 only *Bank analysts average includes Barclays
Slide 6: Q1 results - highlights
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 ASP of € 2
Slide 7: Key financial trends 2010 - 2011
Key financial trends 2010 – 2011 Consolidated statements of operations M€ Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Net Sales 1,069 1,176 1,521 1,452 Gross profit Gross margin % 40.3% 43.0% 43.6% 45.0% 44.7% R&D costs SG&A costs Income from operations Operating income % 18.5% 27.4% 27.9% 32.4% 31.0% Net income
Slide 8: Backlog in value per March 27, 2011
ArF immersion 74% Korea 25% DRAM 27% Foundry 22% New systems Used systems Total systems Units Value M€ 3,262 3,330 ASP M€ 28.4 3.6 24.9 Backlog in value per March 27, 2011 Total value M€ 3,330 Technology KrF 19% I-Line 2% Region (ship to location) USA 18% Taiwan 17% Europe 10% Japan 8% End-use IDM 1
Slide 9: Bookings activity by sector
DRAM 23% DRAM 20% Foundry 26% NAND 46% Bookings activity by sector - total value M€ Bookings in value Bookings in units IDM 5% IDM 8% Foundry 25% NAND 47% Booked 36 new tools at € 832 million, 4 used at € 13 million Numbers have been rounded for readers’ convenience.
Slide 10: Market
Market
Slide 11: Business environment
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 their exis
Slide 12: Device complexity drives litho opportunity due to growing number of critical litho layers
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 Average MPU immersion layers 2008 2009 2010 2011 2012 Average Logic + DSP + MCU
Slide 13: Required immersion layers keeps increasing per node, per year in memory also
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 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Average NAND
Slide 14: Slightly decreased consumption & revenues in February 2011, stable days of inventory
Slightly decreased consumption & revenues in February 2011, stable days of inventory (36) Source: VLSI Research, WSTS, ASML Last data point: February 2011 3mma IC revenue, inventory and inventory days - 3mma IC inventory value (left) 3mma IC revenues (left) 3mma IC consumption: revenues ± inventory
Slide 15: DRAM
DRAM MAIN DRAM SPOT & CONTRACT PRICES (01/2008 - 2011YTD) 0.4 0.6 0.8 1.2 1.4 1.6 1.8 2.2 2.4 2.6 2.8 1Gb DDR2 800 MHz SPOT PRICE 1Gb DDR2 800 MHz CONTRACT PRICE 1Gb DDR3 1333 MHz SPOT PRICE 1Gb DDR3 1333 MHz CONTRACT PRICE 2Gb DDR3 1333MHz SPOT PRICE 2Gb DDR3 1333MHz CONTRACT PRICE Source: DRAMeXch
Slide 16: NAND
NAND MAIN NAND SPOT & CONTRACT PRICES (01/2008 - 2011YTD) 16Gb NAND SLC SPOT PRICE 16Gb NAND SLC CONTRACT PRICE 32Gb NAND MLC SPOT PRICE 32Gb NAND MLC CONTRACT PRICE 64Gb NAND TLC SPOT PRICE 64Gb NAND TLC CONTRACT PRICE 300 mm cash-costs for 3x nm 32 Gb 2 b/c MLC NAND between 3,2 and 4,0 USD Spot pr
Slide 17: ASML business update
ASML business update
Slide 18: Technology - EUV
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 recognition
Slide 19: Cash return
€ 0 € 50 € 100 € 150 € 200 € 250 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
Slide 20: Outlook and summary
Outlook and summary
Slide 21: Q2 2011 outlook
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
Slide 22: Slide 22
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