Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — FY2005 Earnings Presentation
19 slides from Asml Holding Nv's earnings presentation, Jan 18, 2006
Slide 1: 2005 Annual and 4th Quarter Results
2005 Annual and 4th Quarter Results January 18, 2006
Slide 2: Safe Harbor
Safe Harbor “Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995: the matters discussed in this document may include forward-looking statements that are subject to risks and uncertainties including, but not limited to: economic conditions, product demand and semico
Slide 3: Agenda
Agenda z Accomplishments z Financial summary z Q1 outlook z Company focus 2006 / Slide 3
Slide 4: Accomplishments
Accomplishments / Slide 4 \ as ASML
Slide 5: Accomplishments 2005
Accomplishments 2005 z Net sales increased 3% y-o-y while z Net profit improved by 32% to € 311 million z Shipping 30% fewer but higher priced systems (196 units) z Operating profit increased 2.4% to 17.8% z Net cash from operations nearly tripled to € 711 million z Improved our market position z Ad
Slide 6: Financial accomplishments Q4 2005
Financial accomplishments Q4 2005 Solid execution z Revenue of € 548 million z Shipped 47 systems (34 new systems) z Net profit of € 52 million (9.4% of sales) z Gross margin 37% z Operating profit 14% z Cash generation of € 205 million / Slide 6
Slide 7: Financial summary
Financial summary / Slide 7 \ as ASML
Slide 8: Revenues
Total revenues M€ H2 Q4 3000 H1 Q3 2673 Q2 2529 2465 2500 Q1 548 1959 785 2000 1493 Revenues 1589 1543 533 1500 820 611 526 1070 611 759 1000 351 763 370 616 1180 500 609 329 830 685 453 179 318 0 2000 2001 2002 2003 2004 2005 / Slide 8
Slide 9: Revenue breakdown: Q4 2005
Revenue breakdown: Q4 2005 Value per type Value per technology Others i-line 7% KrF TWINSCAN 15% 45% 85% ArF 48% TWINSCAN Others ArF KrF i-line units Units 28 19 11 24 12 Value per region Value per end-use Europe R&D IDM Memory 9% Korea 5% 15% 43% Taiwan 40% 26% U.S. China Singapore Foundry 8% 5% RO
Slide 10: Profit & Loss statement M€
Profit & Loss statement M€ Q3 05 Q4 05 2004 2005 Net sales 533 548 2465 2529 Gross margin 197 204 906 974 Gross margin % 37.0% 37.3% 36.7% 38.5% R&D costs 80 82 3311 324 SG&A costs 48 47 1962 201 Operating income 69 75 379 449 Operating income % 12.9% 13.6% 15.4% 17.8% Net income 48 52 2351 311 Net
Slide 11: Key financial trends 2005
Key financial trends 2005 Profit & Loss Statement M€ Q1 05 Q2 05 Q3 05 Q4 05 2005 Units 59 51 39 47 196 Sales 685 763 533 548 2529 Gross margin 274 299 197 204 974 Gross margin % 40.0% 39.1% 37.0% 37.3% 38.5% R&D 79 82 80 82 324 SG&A 51 55 48 47 201 Operating income 144 162 69 75 449 Operating incom
Slide 12: Cash flow M€
Cash flow M€ Q3 05 Q4 05 2004 2005 Net income 48 52 235 311 Depreciation and amortization 22 30 93 99 Effects of changes in assets and liabilities 103 128 (77) 301 Cash flow from recurring operations 173 210 251 711 Cash flow from investing activities (9) (15) (60) (61) Cash flow from financing acti
Slide 13: Balance sheet as of December 31, 2005 M€
Balance sheet as of December 31, 2005 M€ ASSETS December 2004 December 2005 Cash and cash equivalents 1228 38 % 1905 51 % Accounts receivable, net 503 16 % 303 8% Inventories, net 718 22 % 777 21 % Other assets 203 6% 164 4% Tax assets 256 8% 303 8% Fixed assets 336 10 % 304 8% TOTAL ASSETS 3244 100
Slide 14: Backlog: litho units vs. value
Backlog: litho units vs. value 200 2500 New and used systems 180 Used systems New systems 160 2000 Backlog value Backlog value M€ 140 Backlog units 120 1500 100 80 1000 60 40 500 20 0 0 Dec 02 Jun 03 Sep 03 Dec 03 Jun 04 Sep 04 Dec 04 Jun 05 Sep 05 Dec 05 Mar 03 Mar 04 Mar 05 / Slide 14
Slide 15: Backlog as of December 31, 2005
Backlog as of December 31, 2005 New Systems Used Systems Total Backlog Backlog Backlog Units 86 9 95 Value M€ 1,411 M€ 23 M€ 1,434 ASP M€ 16.4 M€ 2.6 M€ 15.1 80 % of unit backlog carry Q1 + Q2 2006 shipment dates Q4 net bookings of 55 systems of which 43 are new with an ASP of M€ 14.5 Note: Due to p
Slide 16: Backlog lithography per December 31, 2005
Backlog lithography per December 31, 2005 Total value M€ 1,434 Value per type Value per technology I-line TWINSCAN KrF ArF immersion 2% 96% 28% 24 % Others 4% ArF dry 46 % Value per region Value per end-use ROW Korea IDM 9% Memory 28% U.S. 34% 27% 48% Europe 12% Taiwan Foundry 24% 18% Numbers have b
Slide 17: Q1 outlook
Q1 outlook z Bookings are expected to be at least at the same level as Q4 2005 (55 bookings) z ASML expects to ship 48 systems in Q1 2006 with upside potential for a few additional systems z ASP for new systems is € 14.1 million, new + used is € 12.0 million z Gross margin of 38 - 39% z R&D expendit
Slide 18: Company focus 2006
Company focus 2006 z Continue execution of 2005 focus points z Execute on volume production ramp of the TWINSCAN XT:1700i, hyper NA tool for 45 nm node, in Q2 2006 z Execute on cost of goods reduction z Execute on lead time reduction z Accelerate the technology leadership gap z Prepare 2 EUV tools f
Slide 19: Commitment
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