Slide 1: ASML 2011 Second Quarter Results
ASML 2011 Second Quarter Results On track for a record year 2011 July 13, 2011 / 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 systems backlog, IC unit demand, financial results, average se
Slide 3: Agenda
Agenda Business summary Market ASML business update Outlook and summary / Slide 3
Slide 4: Business summary
Business summ ; / Slide 4 % ss ASML
Slide 5: Q2 results - highlights
Q2 results - highlights Net sales of € 1,529 million, 63 systems shipped valued at € 1,333 million, service and field option sales at € 196 million Gross margin of 45.1% Operating margin of 32.3% Net bookings are valued at € 840 million, 34 systems Backlog at € 2,756 million, 105 systems, ASP € 26.2
Slide 6: Net sales
Total net sales M€ 6,000 5,000 4,508 3,768 4,000 3,582 1,521 Q4 Net sales 955 2,954 1,053 Q3 3,000 494 Q2 934 1,176 2,000 958 697 1,596 1,529 Q1 930 844 581 1,069 1,000 942 555 1,452 949 919 742 629 277 0 183 2006 2007 2008 2009 2010 2011 Numbers have been rounded for readers’ convenience. / Slide 6
Slide 7: Net system sales breakdown in value: Q2 2011
Net system sales breakdown in value: Q2 2011 Technology Sales in Units ArF KrF immersion23% 26 27 83% ArF ArF dry 7% Immersion 4 6 I-Line 1% 69% ArF ArF dry KrF I-Line immersion Region Europe 8% End-use USA 22% Foundry Japan 9% NAND 26% Korea 36% IDM 17% Singapore 10% 15% DRAM Taiwan China 7% 23% 27
Slide 8: Consolidated statements of operations M€
Consolidated statements of operations M€ Q1 11 Q2 11 Net sales 1,452 1,529 Gross profit 649 690 Gross margin % 44.7% 45.1% R&D costs 145 145 SG&A costs 54 51 Income from operations 450 494 Operating income % 31.0% 32.3% Net income 395 432 Net income as a % of sales 27.2% 28.3% Earnings per share (ba
Slide 9: Key financial trends 2010 – 2011
Key financial trends 2010 – 2011 Consolidated statements of operations M€ Q2 10 Q3 10 Q4 10 Q1 11 Q2 11 Net Sales 1,069 1,176 1,521 1,452 1,529 Gross profit 459 513 685 649 690 Gross margin % 43.0% 43.6% 45.0% 44.7% 45.1% R&D costs 125 137 141 145 145 SG&A costs 42 48 50 54 51 Income from operations
Slide 10: Cash flows M€
Cash flows M€ Q1 11 Q2 11 Net income 395 432 Adjustments to reconcile net income to net cash flows from operating activities; Impairment and obsolescence 10 14 Depreciation and amortization 39 43 Deferred income taxes 47 (8) Other non-cash items 5 3 Change in assets and liabilities 605 15 Net cash p
Slide 11: Balance sheets M€
Balance sheets M€ Assets Mar 2011 Jun 2011 Cash and cash equivalents 2,699 39% 2,742 39% Accounts receivable, net 1,019 15% 895 12% Finance receivables, net 0 0% 62 1% Inventories, net 1,566 22% 1,610 23% Other assets 485 7% 468 7% Tax assets 194 3% 195 3% Fixed assets 994 14% 1,104 15% Total assets
Slide 12: Backlog in value per Jun 26, 2011
Backlog in value per Jun 26, 2011 Total value M€ 2,756 New Used Total systems systems systems Technology Units 86 19 105 Value M€ 2,691 65 2,756 ASP M€ 31.3 3.4 26.2 KrF 16% I-Line 2% ArF ArF dry 4% immersion End-use 78% Region (ship to location) Japan 8% USA Foundry IDM 23% Singapore 11% 26% 28% Ta
Slide 13: Bookings activity by sector - total value M€
Bookings activity by sector - total value M€ 840 Bookings in value NAND DRAM 5% 14% Foundry IDM 50% 31% Booked 29 new tools at € 827 million, 5 used at € 13 million Numbers have been rounded for readers’ convenience. / Slide 13
Slide 14: Market
/ Slide 14 ¥ ys ASML
Slide 15: Business environment
Business environment Our customers are currently taking some time to assess the semiconductor end-demand trends for 2012 before determining their overall capacity plans levels and timings Business in 2012 will be supported by the ramp: 2x node in Logic 2x node in NAND 3x node in DRAM Introduction of
Slide 16: ASML business update
ASML business update / Slide 16
Slide 17: 2011: EUV is here
2011: EUV is here NXE:3100 is Exposing wafers at customer 1 Exposing wafers at customer 2 Exposing wafers at customer 3 Under installation at customer 4 Shipping to customer 5 Planned to ship in Q3 to customer 6 Customers are developing first process recipes for future chip production at 2x node DRA
Slide 18: Light source suppliers progressing toward NXE:3100 throughput target of 60 wafers per hour
Light source suppliers progressing toward NXE:3100 throughput target of 60 wafers per hour / Slide 18
Slide 19: EUV revenue recognition expected to start in Q3 2011
EUV revenue recognition expected to start in Q3 2011 Orders for NXE:3100 systems consist of: 4 systems that will be recognized in net system sales 1 operating lease contract 1 R&D system to be recognized in the R&D line ASP of NXE:3100 is € 42 million Expect to recognize revenue of 2 systems in Q3 r
Slide 20: ASML's TWINSCAN NXT capabilities extended to enable chip manufacturing beyond 32 nm
ASML's TWINSCAN NXT capabilities extended to enable chip manufacturing beyond 32 nm PEP, throughput improvement to 230 wafers per hour (96 exposures) Flexwave, Programmable wave fronts within the lens, improves imaging and overlay performance Reticle Control compensates for lens heating effects to i
Slide 21: Cash return
Cash return € 1 billion share buy back program Share buy back program 37% of program executed 1000 8.5 million shares repurchased in Q2 at an average price of € 27.08 800 million euros Weekly updates available on 600 Q2 ASML’s website 400 Q1 200 Dividend of € 0.40 per ordinary 0 share paid (€ 173 mi
Slide 22: Outlook and summary
Outlook and summary / Slide 22
Slide 23: Q3 2011 outlook
Q3 2011 outlook Order intake level is likely not to exceed € 500 million Net sales around € 1.4 billion including 2 EUV systems Gross margin about 42% including EUV (44% excl. EUV) R&D costs at € 150 million SG&A costs at € 56 million Reiterate our expectation of 2011 revenue (excluding EUV) to be c
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