ASML Holding NV · EURONEXT:ASML
ASML Holding NV — Piper Jaffray Europe Conference 2010
29 slides from ASML Holding NV's conference presentation, Jun 22, 2010
Slide 1: Piper Jaffray Europe Conference London
Piper Jaffray Europe Conference London Franki D’Hoore Director Investor Relations June 22, 2010 / Slide 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 ASML Overview Short Term Business overview Future trends ASML Trajectory / Slide 3
Slide 4: ASML Overview
ASML Overview / Slide 4
Slide 5: ASML: Leading supplier of lithography equipment to the semiconductor industry
ASML : Leading supplier of lithography equipment to the semiconductor industry Headquarters: Veldhoven, The Netherlands Market Cap approx € 10 B / Slide 5
Slide 6: ASML's historic market share growth
ASML’s historic market share growth 7,000 70% 70% WW M$ 6,000 60% ASML Revenue Market Share [%] ASML market share World Wide Market [M USD] 60% 5,000 50% 50% 4,000 40% 40% 3,000 30% 30% 2,000 20% 20% 1,000 10% 10% 0 0% 0% 1990 2000 1991 1994 1995 1998 1999 2002 2003 1980 1981 1982 1983 1984 1985 198
Slide 7: Commitment to innovation requires a strong player
Commitment to innovation requires a strong player Source: ASML worldwide investments, Zeiss SMT / Slide 7
Slide 8: Short Term Business overview
Short Term Business overview / Slide 8
Slide 9: Analyst semiconductor growth outlook for 2010 now at 23.2%
A favorable analyst’s semiconductor growth outlook for 2010 now at 23.2% 2010 Semiconductor revenue growth forecast over time 35% YoY Semiconductor revenue growth Increased forecasts mainly driven by Future Horizons 30% more stable IC ASPs. IC unit growth over 15% questionable, due to limited SIA ca
Slide 10: Total inventories and days of inventories decreased in April 2010
Total inventories as well as days of inventories decreased in April 2010, as result of increased chip consumption 3mma IC unit sales, inventory and inventory days 25 monthly IC inventory based on 3mma IC ASPs 120 3mma IC unit sales / Inventory [Bio. Units] 3mma IC unit sale 3mma IC unit sales correc
Slide 11: World-wide under-investment in advanced logic capacity requires a structural catch up
LOGIC World-wide under-investment in advanced logic capacity requires a structural catch up Foundries 80% Capital Intensity 60% 40% 20% 0% 20 1 20 2 20 3 04 20 5 06 20 7 08 20 9 10 0 0 0 0 0 0 20 20 20 20 Source: ASML Marketing (4/10) / Slide 11
Slide 12: Litho layer stacks per sector
Litho layer stacks per sector DRAM NVM I-line KrF ArF ArFi EUVL I-line KrF ArF ArFi EUVL 50 40 45 35 5 40 1 1 1 1 1 4 30 5 9 11 9 9 7 7 Exposures 35 4 4 6 6 6 6 5 3 Exposures 7 7 9 25 4 4 3 6 7 2 2 3 3 3 3 3 3 3 30 9 5 5 5 5 5 11 12 25 4 4 4 5 5 20 10 9 13 13 13 8 11 11 12 12 12 15 12 13 13 13 13 13
Slide 13: Litho layers grow with each node transition
IC unit distribution over time Litho Layers grow with each node transition DRAM node distribution NAND - FG/ReRAM node distribution 80% 70% 70% 60% 60% 18nm 19nm ReRAM 22nm 50% 12nm FG 50% 25nm 15nm FG % of Units 28nm 40% % of Units 18nm FG 40% 32nm 20nm FG 38nm 22nm FG 45nm 30% 30% 28nm FG 55nm 35n
Slide 14: DRAM industry wafer production capacity and node transitions
DRAM industry wafer production capacity 2 concurrent node transitions in 2010 driving Capex and cost reductions DRAM WW Monthly Wafer Production Split by Node 2000 1XX nm -200mm 9x nm -200 mm 8x nm -200 mm 9x nm 8x nm 1800 6x nm 5x nm 4x nm 3x nm 2x nm Wafer Starts [300 mm equiv. KWSM] * Gartner DRA
Slide 15: NAND industry wafer production capacity and node transitions
NAND industry wafer production capacity 2 concurrent node transitions in 2010 driving Capex and cost reductions NAND WW Monthly Wafer Starts Split by Node and Utilization 1400 7x-200 mm 6x-200 mm 5x-200 mm 7x nm 6x nm 5x nm 4x nm 3x nm 2x nm 1x nm Wafer Starts [300 mm equiv. KWSM] 1200 * Gartner NAN
Slide 16: ASML Systems: 300mm Memory
ASML Systems: 300mm Memory Average number of systems required for new fab 3xnm NAND 4xnm DRAM ArFi ArF KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi KrF KrF I-Line ArFi ArF KrF KrF I-Line ArFi KrF KrF I-Line Ar
Slide 17: DRAM shrink creates bit growth and lowers cash cost
DRAM DRAM shrink creates bit growth and lowers cash cost MAIN DRAM SPOT & CONTRACT PRICES (01/2008 - 2010YTD) 1Gb DDR2 667 SPOT PRICE 2.8 1Gb DDR2 667 CONTRACT PRICE 1Gb DDR3 1066 SPOT PRICE 1Gb DDR3 1066 CONTRACT PRICE 2.4 300 mm cash- 300 mm cash-costs for 2 costs for 7x Chip ASP [$US] 6x nm 1 Gb
Slide 18: Future trends
Future tre / Slide 18 & ys ASML
Slide 19: A large technology driver until 2020
A large technology driver until 2020 Source: Morgan Stanley (12/09) / Slide 19
Slide 20: IC segment roadmaps – sustained aggressive pace
IC segment roadmaps – sustained aggressive pace ASML supports shrink roadmap 200 Logic DRAM NAND Resolution/half pitch, "Shrink" [nm] 100 80 ARF 2 years/node AT:1200 60 XT:1400 50 XT:1700i 40 ARFi 1 year/node XT:1900i 30 NXT:1950i 18 months/node NXE:3100 20 EUV NXE:3300 ’02 ’03 ’04 ’05 ’06 ’07 ’08 ’
Slide 21: Customer lithography roadmap by sector
Customer lithography roadmap by sector DRAM NAND MPU LOGIC Node Node Node = HP [nm ] Node = HP [nm ] YEAR / HP [nm ] / HP [nm ] 2007 65 55 45 / 80 2008 55 42 45 / 70 2009 52 35 32 / 60 40 / 70 2010 45 28 32 / 50 2011 38 22 22 / 40 28 / 50 2012 32 20 2013 28 18 15 / 30 22 / 35 DPT 2014 25 15 2015 22
Slide 22: ASML's R&D focus is on three strategic programs
ASML’s R&D focus is on three strategic programs TWINSCAN NXT Holistic Lithography EUV / Slide 22
Slide 23: Technology Leadership - Reinforced
Technology Leadership - Reinforced Immersion Lithography: - Installed Base >160 Systems - leading performance on CD imaging uniformity well below 1 nm and overlay of less than 2 nm - 28 systems in backlog end Q1 ’10 - More than 10 NXT installed and producing NXT:1950i EUV: - 6 systems shipping thru
Slide 24: Holistic Litho: A requirement to enable next nodes
Holistic Litho: A requirement to enable next nodes Process Window Process Control Pre-production: enlarges the process window further and earlier through pattern optimization and scanner tuning Production: ensures that the process stays in the “sweet spot” of the process window maximized for the spe
Slide 25: Holistic Litho – Addressing process control
Holistic Litho – Addressing process control To keep process in application specific window center using computational lithography, cost effective metrology and feedback loops Scanner settings Data design/ SMO Scanner Wafer data mask data FlexRay settings BaseLiner Control Tuning Wafer data Scanner s
Slide 26: Summary
/ Slide 26 Si ys ASML
Slide 27: ASML Strategy
ASML Strategy Continue the large R&D outlay to ensure leadership and provide customers with enabling technologies Improve profitability further by: Improving product mix towards value added software support tools Keeping fixed cost structure to a low break even point, while growing top line Improvin
Slide 28: ASML Trajectory
ASML Trajectory ASML confirms its leadership in offering lithography technology that enables the industry's shrink roadmaps and therefore makes ASML the partner of choice for all leading Semiconductor Manufacturers ASML confirms that it has the appropriate size and know how to continue leading the i
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