Asml Holding Nv · EURONEXT:ASML

Asml Holding Nv — Shareholder Meeting (April 2019)

58 slides from Asml Holding Nv's shareholder meeting presentation, Apr 24, 2019

  1. Slide 1: Annual General Meeting of Shareholders 2019

    Public Annual General Meeting of Shareholders 2019 Veldhoven, the Netherlands, April 24, 2019

  2. Slide 2: Forward looking statements

    Forward looking statements Public Slide 2 April 24, 2019 This presentation and related discussion contains statements relating to certain projections, business trends and other matters that are forward-looking, including statements with respect to expected trends and outlook, bookings, expected fina

  3. Slide 3: Agenda

    Agenda Public Slide 3 April 24, 2019 van de Jaarlijkse Algemene Vergadering van Aandeelhouders van ASML Holding N.V. (de “Vennootschap”), te houden op woensdag 24 april 2019, om 14.00 uur in het Auditorium, ASML Gebouw 7, De Run 6665, Veldhoven 1. Opening 2. Overzicht van de activiteiten, de financi

  4. Slide 4: Financials

    Public Slide 4 April 24, 2019 Financials

  5. Slide 5: 2018 in review: the highlights

    2018 in review: the highlights Public Slide 5 • Net sales grew to a record € 10.9 billion at 46.0% gross margin April 24, 2019 • Net income grew to a record € 2.6 billion resulting in an EPS of € 6.10 • EUV lithography: ◦ Shipped 18 systems ◦ Accelerated our NXE:3400C product roadmap with a >35% pro

  6. Slide 6: Total net sales million € by End-use

    Total net sales million € by End-use Public Slide 6 April 24, 2019 Installed Base Management Logic Memory As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers presented above have not been adjusted to reflect the

  7. Slide 7: Net system sales breakdown in value (Yearly)

    Net system sales breakdown in value (Yearly) Public Slide 7 April 24, 2019 2018 total value € 8,259 million 2017 total value € 6,424 million As of January 1, 2018, ASML has adopted the new Revenue Recognition Standard (ASC 606) and Lease Standard (ASC 842). The comparative numbers presented above ha

  8. Slide 8: Consolidated statements of operations M€

    Consolidated statements of operations M€ Public Slide 8 2014 2015 20161 20171 2018 April 24, 2019 Net sales 5,856 6,287 6,875 8,963 10,944 Gross profit 2,596 2,896 3,145 4,020 5,029 Gross margin % 44.3 46.1 45.7 44.9 46.0 Other income 2 81 83 94 96 — R&D costs (1,074) (1,068) (1,106) (1,260) (1,576)

  9. Slide 9: Consolidated statements of Cash flows M€

    Consolidated statements of Cash flows M€ Public Slide 9 April 24, 2019 2014 2015 20161 20171 2018 Net income 1,197 1,387 1,558 2,067 2,592 Net cash provided by (used in) operating activities 1,025 2,026 1,666 1,818 3,073 Net cash provided by (used in) investing activities (16) (1,160) (3,188) (1,229

  10. Slide 10: Consolidated Balance sheets M€

    Consolidated Balance sheets M€ Public Slide 10 April 24, 2019 Assets 2014 2015 20161 20171 2018 Cash & cash equivalents and short-term investments 2,754 3,409 4,057 3,288 4,034 Net accounts receivable and finance receivables 1,304 1,208 1,145 1,958 2,384 Contract assets 149 270 96 Inventories, net 2

  11. Slide 11: Capital return to shareholders

    Capital return to shareholders Public Slide 11 April 24, 2019 • Proposal submitted to the 2019 AGM to declare a dividend in respect of 2018 of EUR 2.10 per ordinary share. This is a 50% increase versus last year (for a total amount of approximately EUR 0.9 billion). • € 55 million worth of shares ha

  12. Slide 12: Q1 results summary

    Q1 results summary Public Slide 12 April 24, 2019 • Net sales of € 2,229 million, net systems sales valued at € 1,689 million, Installed Base Management* sales of € 540 million • Gross margin of 41.6% • Operating margin of 15.0% • Net income as a percentage of net sales of 15.9% • Net bookings of €

  13. Slide 13: Q2 Outlook

    Q2 Outlook Public Slide 13 April 24, 2019 • Q2 2019 net sales between € 2.5 billion and € 2.6 billion ◦ including EUV system revenue of around € 600 million • Gross margin between 41% and 42% • R&D costs of around € 485 million • SG&A costs of around € 125 million • Estimated annualized effective ta

  14. Slide 14: People and legal matters

    Public Slide 14 April 24, 2019 People and legal matters

  15. Slide 15: Growth in numbers of employees worldwide

    Growth in numbers of employees worldwide Public Slide 15 April 24, 2019 US Europe Asia 2017: 4,348 2017: 10,537 2017: 4,331 2018: 5,155 2018: 12,702 2018: 5,390 Growth 19% Growth 21% Growth 24% Total Worldwide 2017: 19,216 2018: 23,247 FTE Growth 21% FTE = Full Time Equivalent, end 2018

  16. Slide 16: XTAL court case – the facts

    XTAL court case – the facts Public Slide 16 April 24, 2019 • In November 2018, a jury in the Santa Clara Superior Court in found a US based company called XTAL guilty of misappropriation of trade secrets and inducing, aiding and abetting former employees of ASML to breach their contracts with and th

  17. Slide 17: XTAL court case – no grounds for disclosure

    XTAL court case – no grounds for disclosure Public Slide 17 April 24, 2019 • There is no sustained actual damage to speak of. The business concerned is small and not our core business, XTAL’s business deal with the South-Korean customer was thwarted hence ASML did not lose any business, and the stol

  18. Slide 18: IP Protection at ASML

    IP Protection at ASML Public Slide 18 April 24, 2019 • ASML’s Board of Management is deeply committed to protecting ASML’s IP. Therefore, the company has taken and continues to take significant measures in this regard. • These measures are not just of a technical nature, but also include continued e

  19. Slide 19: January 2019: Nikon, ASML and Carl Zeiss to settle all litigation

    January 2019: Nikon, ASML and Carl Zeiss to settle all Public litigation Slide 19 April 24, 2019 • A binding agreement that concerns all pending disputes between Nikon, ASML and Zeiss in Europe, Japan and the United States, including at the U. S. International Trade Commission • A definitive settlem

  20. Slide 20: Mapper

    Mapper Public Slide 20 April 24, 2019 • In January, ASML announced the acquisition of the intellectual property assets of Mapper, a Delft-based high-tech company. • In Q1 2019, approximately 100 former Mapper employees joined ASML • They are now working in projects for our Applications business: • 8

  21. Slide 21: ASML

    ASML

  22. Slide 22: Agenda

    Agenda Public Slide 22 April 24, 2019 3a. Bespreking van de implementatie van het Beloningsbeleid voor de Directie (Discussiepunt)

  23. Slide 23: Implementation Remuneration Policy in 2018 (1/2)

    Implementation Remuneration Policy in 2018 (1/2) Public Slide 23 Main elements of the execution of the Remuneration Policy in 2018 are: April 24, 2019 1. Base salaries of the BoM have not been increased 2. Short-Term Incentive (STI) payout over 2018 has been 78.3% of max (117.5% of target (65%), i.e

  24. Slide 24: Implementation Remuneration Policy in 2018 (2/2)

    Implementation Remuneration Policy in 2018 (2/2) Public Slide 24 3. Long-Term Incentive (LTI) payout over performance period 2016-2017-2018 has been April 24, 2019 75% of max • ASML ranked 5th in the ROAIC Peer Group (leading to a payout of 50% of max) • The qualitative target was evaluated at 100%

  25. Slide 25: Agenda

    Agenda Public Slide 25 April 24, 2019 3b. Voorstel tot vaststelling van de overeenkomstig de Nederlandse wet opgestelde jaarrekening van de Vennootschap over het boekjaar 2018 (Stempunt)

  26. Slide 26: Proefstemming

    Agenda Public Slide 26 April 24, 2019 Proefstemming “De shuttle service naar de ingang van gebouw 7 is een goed initiatief.”

  27. Slide 27: Agenda

    Agenda Public Slide 27 April 24, 2019 3b. Voorstel tot vaststelling van de overeenkomstig de Nederlandse wet opgestelde jaarrekening van de Vennootschap over het boekjaar 2018 (Stempunt)

  28. Slide 28: Agenda

    Agenda Public Slide 28 April 24, 2019 3c. Toelichting op het reserverings- en dividendbeleid van de Vennootschap (Discussiepunt)

  29. Slide 29: Agenda

    Agenda Public Slide 29 April 24, 2019 3d. Voorstel tot vaststelling van een dividend van EUR 2,10 per gewoon aandeel (Stempunt)

  30. Slide 30: Agenda

    Agenda Public Slide 30 April 24, 2019 4a. Voorstel tot verlening van decharge aan de leden van de Directie voor de uitoefening van hun functie in het boekjaar 2018 (Stempunt)

  31. Slide 31: Agenda

    Agenda Public Slide 31 April 24, 2019 4b. Voorstel tot verlening van decharge aan de leden van de Raad van Commissarissen voor de uitoefening van hun functie in het boekjaar 2018 (Stempunt)

  32. Slide 32: Agenda

    Agenda Public Slide 32 April 24, 2019 5. Voorstel tot goedkeuring van een aantal wijzigingen in het Beloningsbeleid van de Directie (Stempunt)

  33. Slide 33: Adjustments Remuneration Policy BoM (1/2)

    Adjustments Remuneration Policy BoM (1/2) Public Slide 33 April 24, 2019 Current Remuneration Policy for the Board of Management was adopted by the Annual General Meeting of Shareholders of April 26, 2017 and became effective per January 1, 2017 Changes effective Jan 1, 2019: • Reference Group: remo

  34. Slide 34: Adjustments Remuneration Policy BoM (2/2)

    Adjustments Remuneration Policy BoM (2/2) Public Slide 34 April 24, 2019 Changes effective Jan 1, 2019: • STI and LTI: proposal to increase short-term incentive (STI) and long-term incentive (LTI) target percentages as follows: The current variable pay levels (STI & LTI) and total compensation are b

  35. Slide 35: Agenda

    Agenda Public Slide 35 April 24, 2019 5. Voorstel tot goedkeuring van een aantal wijzigingen in het Beloningsbeleid van de Directie (Stempunt)

  36. Slide 36: Agenda

    Agenda Public Slide 36 April 24, 2019 6. Voorstel tot goedkeuring van het aantal aandelen toe te kennen aan de Directie (Stempunt)

  37. Slide 37: Agenda

    Agenda Public Slide 37 April 24, 2019 7. Bespreking van het aangepaste profiel van de Raad van Commissarissen (Discussiepunt)

  38. Slide 38: Agenda

    Agenda Public Slide 38 April 24, 2019 8. Samenstelling van de Raad van Commissarissen (4 stempunten; 1 discussiepunt)

  39. Slide 39: Agenda

    Agenda Public Slide 39 April 24, 2019 8a. Voorstel tot herbenoeming van de heer G.J. (Gerard) Kleisterlee als lid van de Raad van Commissarissen (Stempunt)

  40. Slide 40: Agenda

    Agenda Public Slide 40 April 24, 2019 8b. Voorstel tot herbenoeming van mevrouw A.P. (Annet) Aris als lid van de Raad van Commissarissen (Stempunt)

  41. Slide 41: Agenda

    Agenda Public Slide 41 April 24, 2019 8c. Voorstel tot herbenoeming van de heer R.D. (Rolf-Dieter) Schwalb als lid van de Raad van Commissarissen (Stempunt)

  42. Slide 42: Agenda

    Agenda Public Slide 42 April 24, 2019 8d. Voorstel tot herbenoeming van de heer W.H. (Wolfgang) Ziebart als lid van de Raad van Commissarissen (Stempunt)

  43. Slide 43: Agenda

    Agenda Public Slide 43 April 24, 2019 8e. Samenstelling van de Raad van Commissarissen in 2020 (Discussiepunt)

  44. Slide 44: Agenda

    Agenda Public Slide 44 April 24, 2019 9. Voorstel tot wijziging van de beloning van de Raad van Commissarissen (Stempunt)

  45. Slide 45: Adjustments Remuneration SB

    Adjustments Remuneration SB Public Slide 45 April 24, 2019 Last increase of SB remuneration took place in 2017 (for SB Member in 2014) Proposed remuneration effective 24 April 2019: Increase is to reflect developments since 2017, growth of the Company, increase of responsibilities, workload and liab

  46. Slide 46: Agenda

    Agenda Public Slide 46 April 24, 2019 9. Voorstel tot wijziging van de beloning van de Raad van Commissarissen (Stempunt)

  47. Slide 47: Agenda

    Agenda Public Slide 47 April 24, 2019 10. Voorstel tot benoeming van KPMG Accountants N.V. als externe accountant voor het rapportagejaar 2020 (Stempunt)

  48. Slide 48: Agenda

    Agenda Public Slide 48 April 24, 2019 11. Voorstellen om de Directie aan te wijzen als het orgaan dat bevoegd is tot uitgifte van gewone aandelen of tot toekenning van rechten tot het verwerven van gewone aandelen, alsmede tot het beperken of uitsluiten van het aan de aandeelhouders toekomende voork

  49. Slide 49: Agenda

    Agenda Public Slide 49 April 24, 2019 11a. Aanwijzing tot uitgifte van gewone aandelen of tot toekenning van rechten tot het verwerven van gewone aandelen tot 5% voor algemene doeleinden (Stempunt)

  50. Slide 50: Agenda

    Agenda Public Slide 50 April 24, 2019 11b. Aanwijzing tot het beperken of uitsluiten van voorkeursrechten met betrekking tot agendapunt 11a) (Stempunt)

  51. Slide 51: Agenda

    Agenda Public Slide 51 April 24, 2019 11c. Aanwijzing tot uitgifte van aandelen of tot toekenning van rechten tot het verwerven van gewone aandelen tot 5% in verband met of ter gelegenheid van fusies, acquisities en/of (strategische) allianties (Stempunt)

  52. Slide 52: Agenda

    Agenda Public Slide 52 April 24, 2019 11d. Aanwijzing tot het beperken of uitsluiten van voorkeursrechten met betrekking tot agendapunt 11 c) (Stempunt)

  53. Slide 53: Agenda

    Agenda Public Slide 53 April 24, 2019 12. Voorstellen om de Directie te machtigen om gewone aandelen te verwerven tot 20% van het geplaatst aandelenkapitaal (2 Stempunten)

  54. Slide 54: Agenda

    Agenda Public Slide 54 April 24, 2019 12a. Machtiging om gewone aandelen in te kopen tot een maximum van 10% van het geplaatste kapitaal (Stempunt)

  55. Slide 55: Agenda

    Agenda Public Slide 55 April 24, 2019 12b. Machtiging om additioneel gewone aandelen in te kopen tot een maximum van 10% van het geplaatste kapitaal (Stempunt)

  56. Slide 56: Agenda

    Agenda Public Slide 56 April 24, 2019 13. Voorstel tot intrekking van gewone aandelen (Stempunt)

  57. Slide 57: Agenda

    Agenda Public Slide 57 April 24, 2019 14. Rondvraag 15. Sluiting

  58. Slide 58: ASML

    ASML

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