Slide 1: ASML 2019 Fourth-Quarter and Full-Year Results
Public ASML reports €11.8 billion net sales and €2.6 billion net income in 2019 Strong EUV demand and Installed Base business support expected growth in 2020 ASML announces a three-year share buyback program up to €6 billion and proposes 14% annualized dividend increase ASML 2019 Fourth-Quarter and
Slide 2: Agenda
Public Slide 2 January 22, 2020 Agenda • Investor key messages • Business summary • Outlook • Financial statements
Slide 3: Investor key messages
Public Slide 3 January 22, 2020 Investor key messages
Slide 4: Investor key messages
Investor key messages Public Slide 4 January 22, 2020 • Long term growth opportunity remains, driven by end markets growth enabled by major innovation in semiconductors • Shrink is a key industry driver supporting innovation and providing long term industry growth • Holistic Lithography enables affo
Slide 5: Business summary
Public Slide 5 January 22, 2020 Business summary
Slide 6: 2019 - Highlights
2019 - Highlights Public Slide 6 January 22, 2020 • Despite an overall industry decline, ASML delivered a sales growth of 8%, reflecting our customers' desire to invest in future technology: ◦ Net sales grew to a record €11.8 billion at 44.7% gross margin ◦ Net income at €2.6 billion resulted in an
Slide 7: Investing for our long-term growth opportunities
Investing for our long-term growth opportunities Public Slide 7 January 22, 2020 Infrastructure, including High-NA @ Zeiss SMT HQ: High-NA manufacturing facilities* HQ: Logistic center and offices* Wilton: Manufacturing facilities* Zeiss SMT: High-NA optics metrology vessels * Artist impression
Slide 8: Q4 results summary
Q4 results summary Public Slide 8 January 22, 2020 • Net sales of €4,036 million, net systems sales of €3,130 million, Installed Base Management* sales of €906 million • Gross margin of 48.1% • Operating margin of 31.6% • Net income as a percentage of net sales of 28.1% • Net bookings of €2,402 mill
Slide 9: Net system sales breakdown (Quarterly)
Net system sales breakdown (Quarterly) Public Slide 9 January 22, 2020 Q4’19 total sales €3,130 million Q3’19 total sales €2,326 million
Slide 10: Net system sales breakdown (Yearly)
Net system sales breakdown (Yearly) Public Slide 10 January 22, 2020 2019 total value €8,996 million 2018 total value €8,259 million
Slide 11: Total net sales € million by End-use
Total net sales € million by End-use Public Slide 11 January 22, 2020 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 2015 - 2017 presented above have not been adjusted
Slide 12: Litho systems bookings activity by End-use
Litho systems bookings activity by End-use Public Slide 12 January 22, 2020 Lithography systems Q4’19 total value New Used €2,402 million Units 57 3 Lithography systems New Used Q3’19 total value Units 78 3 €5,111 million Our systems net bookings include all system sales orders for which written aut
Slide 13: Capital return to shareholders
Capital return to shareholders Public Slide 13 January 22, 2020 • Paid total dividends of €1.3 billion, including FY2018 final dividend and FY2019 interim dividend, and purchased €410 million worth of shares in 2019 • Proposal at the 2020 Annual General Meeting of Shareholders (AGM) to declare a tot
Slide 14: Outlook
Public Slide 14 January 22, 2020 Outlook
Slide 15: Q1 Outlook
Q1 Outlook Public Slide 15 January 22, 2020 • Q1 2020 net sales between €3.1 billion and €3.3 billion, including ◦ Installed Base Management sales of around €950 million • Gross margin between 46% and 47% • R&D costs of around €550 million • SG&A costs of around €140 million • Estimated annualized e
Slide 16: Financial statements
Public Slide 16 January 22, 2020 Financial statements
Slide 17: Consolidated statements of operations € million
Consolidated statements of operations € million Public Slide 17 January 22, 2020 Year on Year 20151 2016 2017 2018 2019 Net sales 6,287 6,875 8,963 10,944 11,820 Gross profit 2,896 3,145 4,020 5,029 5,280 Gross margin % 46.1 45.7 44.9 46.0 44.7 Other income 2 83 94 96 — — R&D costs (1,068) (1,106) (
Slide 18: Consolidated statements of operations € million
Consolidated statements of operations € million Public Slide 18 January 22, 2020 Quarter on Quarter Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Net sales 3,143 2,229 2,568 2,987 4,036 Gross profit 1,393 928 1,105 1,307 1,940 Gross margin % 44.3 41.6 43.0 43.7 48.1 R&D costs (442) (473) (487) (493) (516)
Slide 19: Consolidated statements of cash flows € million
Consolidated statements of cash flows € million Public Slide 19 January 22, 2020 Year on Year 20151 2016 2017 2018 2019 Cash and cash equivalents, beginning of period 2,420 2,459 2,907 2,259 3,121 Net cash provided by (used in) operating activities 2,026 1,666 1,818 3,073 3,276 Net cash provided by
Slide 20: Consolidated statements of cash flows € million
Consolidated statements of cash flows € million Public Slide 20 January 22, 2020 Quarter on Quarter Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Cash and cash equivalents, beginning of period 2,203 3,121 2,253 1,661 1,586 Net cash provided by (used in) operating activities 1,646 (481) 100 69 3,588 Net ca
Slide 21: Consolidated Balance sheets € million
Consolidated Balance sheets € million Public Slide 21 January 22, 2020 Year on Year Assets 20151 2016 2017 2018 2019 Cash & cash equivalents and short-term investments 3,409 4,057 3,288 4,034 4,718 Net accounts receivable and finance receivables 1,208 1,145 1,958 2,384 2,773 Contract assets — 149 27
Slide 22: Consolidated balance sheets € million
Consolidated balance sheets € million Public Slide 22 January 22, 2020 Quarter on Quarter Assets Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Cash & cash equivalents and short-term investments 4,034 3,275 2,335 2,070 4,718 Net accounts receivable and finance receivables 2,384 2,523 2,664 3,274 2,773 Cont
Slide 23: Forward looking statements
Forward looking statements Public Slide 23 January 22, 2020 This document contains statements that are forward-looking, including statements with respect to expected trends, outlook, bookings, financial results and effective tax rate, annual revenue opportunity in 2020 and through 2025 and long term
Slide 24: S ML
S ML