Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Q2 2020 Earnings Presentation
21 slides from Asml Holding Nv's earnings presentation, Jul 15, 2020
Slide 1: ASML reports €3.3 billion net sales at 48.2% gross margin in Q2
Public Exhibit 99.2 ASML reports €3.3 billion net sales at 48.2% gross margin in Q2 2020 sales growth expectations unchanged ASML 2020 Second-Quarter Veldhoven, the Netherlands July 15, 2020
Slide 2: Agenda
Public Slide 2 July 15, 2020 Agenda • Investor key messages • Business summary • Outlook • Financial statements
Slide 3: Investor key messages
Public Slide 3 July 15, 2020 Investor key messages
Slide 4: Investor key messages
Investor key messages Public Slide 4 July 15, 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 afforda
Slide 5: Business summary
Public Slide 5 July 15, 2020 Business summary
Slide 6: Q2 results summary
Q2 results summary Public Slide 6 July 15, 2020 • Net sales of €3,326 million, net systems sales of €2,439 million, Installed Base Management* sales of €887 million • Gross margin of 48.2% • Operating margin of 27.2% • Net income as a percentage of net sales of 22.6% • Net bookings of €1,101 million
Slide 7: EUV: roadmap execution
EUV: roadmap execution Public Slide 7 July 15, 2020 Multiple NXE:3400C systems upgraded at the customers with the modular vessel, within the planned install time Achieved a successful introduction of inline Tin refill on those systems in support of our availability improvement roadmap Upgrades were
Slide 8: DUV: Shipped first NXT:1470 system
DUV: Shipped first NXT:1470 system Public Slide 8 July 15, 2020 Provides >300 wph capability and <4.0 nm Matched Machine Overlay Building on the NXT immersion platform, with improved matched machine overlay and higher productivity to maximize wafer output from customers' cleanroom
Slide 9: Applications: 1st eScan 1000 MultiBeam system shipped
Applications: 1st eScan 1000 MultiBeam system shipped Public Slide 9 July 15, 2020 MultiBeam leverages ASML's stage, ebeam and computational technologies Milestones Technology Demonstrated Concept Proven First ever MultiBeam system shipped Features unique 9 beam (3x3) electron optics Leverages ASML’
Slide 10: Net system sales breakdown (Quarterly)
Net system sales breakdown (Quarterly) Public Slide 10 July 15, 2020 Q2’20 total sales €2,439 million Q1’20 total sales €1,584 million
Slide 11: Total net sales € million by End-use
Total net sales € million by End-use Public Slide 11 July 15, 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 2016 - 2017 presented above have not been adjusted to
Slide 12: Litho systems bookings activity by End-use
Litho systems bookings activity by End-use Public Slide 12 July 15, 2020 Lithography systems Q2’20 total value New Used €1,101 million Units 28 6 Lithography systems New Used Q1’20 total value Units 72 1 €3,085 million Our systems net bookings include all system sales orders for which written author
Slide 13: Capital return to shareholders
Capital return to shareholders Public Slide 13 July 15, 2020 • In Q2, ASML paid a final dividend of €1.35 per ordinary share or €565 million. Together with the interim dividend paid in 2019, this results in a total dividend for 2019 of €2.40 per ordinary share • ASML announced a three-year share buy
Slide 14: Outlook
Public Slide 14 July 15, 2020 Outlook
Slide 15: Q3 Outlook
Q3 Outlook Public Slide 15 July 15, 2020 • Q3 2020 net sales between €3.6 billion and €3.8 billion, including ◦ Installed Base Management sales of around €850 million • Gross margin between 47% and 48% • R&D costs of around €545 million • SG&A costs of around €140 million • Estimated annualized effe
Slide 16: Financial statements
Public Slide 16 July 15, 2020 Financial statements
Slide 17: Consolidated statements of operations € million
Consolidated statements of operations € million Public Slide 17 July 15, 2020 Quarter on Quarter Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Net sales 2,568 2,987 4,036 2,441 3,326 Gross profit 1,105 1,307 1,940 1,101 1,603 Gross margin % 43.0 43.7 48.1 45.1 48.2 R&D costs (487) (493) (516) (544) (567)
Slide 18: Consolidated statements of cash flows € million
Consolidated statements of cash flows € million Public Slide 18 July 15, 2020 Quarter on Quarter Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Cash and cash equivalents, beginning of period 2,253 1,661 1,586 3,532 2,724 Net cash provided by (used in) operating activities 100 69 3,588 (606) 372 Net cash pr
Slide 19: Consolidated balance sheets € million
Consolidated balance sheets € million Public Slide 19 July 15, 2020 Quarter on Quarter Assets Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Cash & cash equivalents and short-term investments 2,335 2,070 4,718 4,112 4,440 Net accounts receivable and finance receivables 2,664 3,274 2,773 2,857 3,286 Contrac
Slide 20: Forward looking statements
Forward looking statements Public Slide 20 July 15, 2020 This document contains statements that are forward-looking, including statements with respect to expected trends, including trends in end markets and technology industry and business environment trends, outlook and expected financial results f
Slide 21: S ML
S ML