ASML Holding NV · EURONEXT:ASML
ASML Holding NV — Q1 2003 Earnings Presentation
15 slides from ASML Holding NV's earnings presentation, Apr 16, 2003
Slide 1: Q1 2003 Results
Q1 2003 Results Veldhoven, April 16, 2003 / Slide 1
Slide 2: Agenda
Agenda l Highlights Q1 2003 vs Q1 2002 l Financial Summary l Focus Q2 2003 / Slide 2
Slide 3: Highlights Q1 2003 vs Q1 2002
Highlights Q1 2003 vs Q1 2002 / Slide 3
Slide 4: Highlights Q1 2003 vs Q1 2002
Highlights Q1 2003 vs Q1 2002 l Sale of 33 lithography systems, up from 13 l Increase in average selling price to M€ 9.2, up 10% l Net loss of M€ 82 narrowed from net loss of M€ 108 l Cash generation of M€ 40 in Lithography operation l Continued improvements in working capital of M€ 92 l Pre-tax los
Slide 5: Financial summary
Financial summary / Slide 5
Slide 6: Total revenues M€
Total revenues M€ 3000 2673 Total Semi-annual 2500 Q1 Q2 1959 2000 Q3 1493 1518 1589 Q4 1500 820 759 1000 351 1180 500 609 830 179 318 0 1999 2000 2001 2002 2003 Prior year financial statements have been restated to reflect the impact of discontinued operations / Slide 6
Slide 7: System revenues by region and type
System revenues by region and type Region Type U.S. 41% Asia 59% Steppers 3% Scanners 300 mm Scanners 200 mm 56% 41% / Slide 7
Slide 8: Overview historical financials consolidated M€
Overview historical financials consolidated M€ 2002 FY 2002 Q1 2003 Q1 ASML Net sales 1,959 100.0% 179 100.0% 318 100.0% Gross profit 468 23.9% 17 9.6% 53 16.6% R&D costs 299 15.3% 69 38.8% 76 23.9% SG&A costs 261 13.3% 61 34.2% 61 19.2% Restructuring expenses 2 0.1% 6 2.0% Operating income from con
Slide 9: Cash flow M€
Cash flow M€ 2002 FY 2002 Q1 2003 Q1 Net income (88) (86) (69) Depreciation and amortization 187 41 35 Effects of changes in assets and liabilities (153) (131) 93 Cash flow from operations (54) (176) 59 Cash flow from investing and financing activities (59) (18) (19) Cash flow from discontinued oper
Slide 10: Balance sheet as of March 30, 2003 M€
Balance sheet as of March 30, 2003 M€ ASSETS Dec 2002 Mar 2003 Cash and cash equivalents 669 20% 688 21% Accounts receivable, net 557 17% 435 13% Inventories, net 730 22% 779 24% Assets from discontinued operations 106 3% 93 3% Tax assets 494 15% 522 16% Other assets 237 7% 235 7% Property, plant an
Slide 11: Backlog: litho unit vs. value
Backlog units 0 50 100 150 200 250 Jan 01 Feb 01 Mar 01 / Slide 11 Apr 01 May 01 Jun 01 Jul 01 Aug 01 Sep 01 Oct 01 Nov 01 Dec 01 Jan 02 Feb 02 Mar 02 Apr 02 Backlog: litho unit vs. value May 02 Jun 02 July 02 Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03 Mar 03 0 500 1000 1500 2000 Backlog value
Slide 12: Backlog lithography per March 30, 2003
Backlog lithography per March 30, 2003 Total value M€ 870 Value per type Value per technology 365 nm Scanners 300 mm Scanners 200 mm 157 nm 8% 55% 45% 12% 193 nm 33% 248 nm 47% Value per region Value per end-use Korea China Singapore R&D Other Foundry 16% 4% 8% Logic 7% 1% 23% 24% Europe 19% U.S. Ta
Slide 13: Focus Q2 2003
Focus Q2 2003 / Slide 13
Slide 14: Focus Q2 2003
Focus Q2 2003 l Reduced inventory and receivables l Continued cash generation l Successful roll-out of industry’s first full-field 157 nm Step and Scan tool: Micrascan™ VII l Successful introduction of high NA 193 nm TWINSCAN™ AT:1200 product l Provide dedicated support for customers’ Value of Owner
Slide 15: Commitment
Commitment / Slide 15