Slide 1: ASML 2013 First Quarter Results
ASML Q1 results as guided, reiterates full year expectation ASML leadership succession within the Board of Management ASML 2013 First Quarter Results Veldhoven, the Netherlands April 17, 2013
Slide 2: Forward looking statements
Forward looking statements Public Slide 2 17 April 2013 “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, I
Slide 3: Agenda
Public Slide 3 17 April 2013 • Business summary • ASML leadership succession • Cymer merger update • Business environment • ASML technology status • Outlook
Slide 4: Business summary
Public Slide 4 17 April 2013 Business summary
Slide 5: Q1 results - highlights
Q1 results - highlights Public Slide 5 17 April 2013 • Net sales of € 892 million, 29 systems sold, valued at € 677 million, net service and field option sales at € 215 million • Gross margin of 38.2% • Operating margin of 12.1% • Net bookings of € 715 million, 25 systems • Backlog at € 1,266 millio
Slide 6: Net Sales
Total net sales M€ Public Slide 6 17 April 2013 6000 5,651 5000 1,211 4,732 4,508 1,023 4000 3,768 1,521 1,459 Q1 Net Sales 955 2,954 1,229 Q2 3000 494 Q3 934 1,176 Q4 697 1,529 2000 1,596 1,228 930 844 581 1,069 1000 555 1,452 1,252 949 919 742 892 277 0 183 2007 2008 2009 2010 2011 2012 2013 Numbe
Slide 7: Net system sales breakdown in value: Q1 2013
Net system sales breakdown in value: Q1 2013 Public Slide 7 Total value is € 677 million 17 April 2013 Technology End-Use Foundry 61% KrF 23% Memory 30% I-Line 3% Region IDM Taiwan 9% 56% ArF Immersion 74% Sales in Units Japan 2% 12 13 Europe 1% China 3% Due to uncertainty around system USA 4 alloca
Slide 8: Consolidated statements of operations M€
Consolidated statements of operations M€ Public Slide 8 17 April 2013 Q4 12 Q1 13 Net sales 1,023 892 Including € 16 million Gross profit 420 341 CCIP* Gross margin % 41.1% 38.2% Other income (CCIP*) 14 R&D costs (155) (185) Including € 6 million SG&A costs (80) (63) related to Cymer merger Income f
Slide 9: Key financial trends 2012 – 2013
Key financial trends 2012 – 2013 Public Slide 9 Consolidated statements of operations M€ 17 April 2013 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Net sales 1,252 1,228 1,229 1,023 892 Gross profit 524 530 531 420 341 Gross margin % 41.8% 43.2% 43.2% 41.1% 38.2% R&D costs (145) (145) (144) (155) (185) SG&A costs
Slide 10: Cash flows M€
Cash flows M€ Public Slide 10 Q4 12 Q1 13 17 April 2013 Net income 298 96 Adjustments to reconcile net income to net cash flows from operating activities: Impairment and obsolescence 23 30 Depreciation and amortization 44 45 Deferred income taxes (120) 0 Other non-cash items 5 7 Change in assets and
Slide 11: Balance sheets M€
Balance sheets M€ Public Slide 11 17 April 2013 Assets Dec 31st, 2012 Mar 31st, 2013 Cash & cash equivalents and short-term investments 2,698 36% 2,620 35% Accounts receivable, net 605 8% 690 9% Finance receivables, net 304 4% 318 4% Inventories, net 1,857 25% 2,006 26% Other assets 558 8% 591 8% Ta
Slide 12: Bookings activity by sector, EUV not included
Bookings activity by sector, EUV not included Public Slide 12 Total value M€ 715 17 April 2013 Net booked Foundry • 21 new tools at € 703 million 66% • 4 used tools at € 12 million Memory 33% IDM 1% Due to uncertainty around system allocations between DRAM and NAND we report total memory only Number
Slide 13: Backlog in value per Mar 31st, EUV not included
Backlog in value per Mar 31st, EUV not included Public Slide 13 Total value M€ 1,266 17 April 2013 Region USA Technology (ship to location) 13% Japan 4% I-Line 2% Singapore 1% KrF 17% ArF dry 1% Taiwan Europe 5% 48% China 15% End-use ArF immersion Foundry 80% Korea 58% 14% 88% of backlog carries shi
Slide 14: Capital return to shareholders
Capital return to shareholders Public Slide 14 17 April 2013 • ASML announces a share buy back program to purchase up to € 1 billion of shares within the 2013 – 2014 timeframe • As previously announced, ASML proposes a dividend of € 0.53 per ordinary share to be authorized by shareholders • ASML has
Slide 15: ASML leadership succession
Public Slide 15 17 April 2013 ASML leadership succession
Slide 16: ASML leadership succession within the Board of Management
ASML leadership succession within the Board of Public Slide 16 Management 17 April 2013 As of 1 July 2013, ASML’s leadership will be comprised as follows: • Peter Wennink will be President and Chief Executive Officer • Martin van den Brink will be President and Chief Technology Officer • Frits van H
Slide 17: Cymer merger update
Public Slide 17 17 April 2013 Cymer merger update
Slide 18: ASML - Cymer merger agreement status
ASML - Cymer merger agreement status Public Slide 18 17 April 2013 • Cymer shareholders approved the merger agreement • Clearance has been granted recently by the Antitrust Division of the United States Department of Justice • Merger under consideration by antitrust authorities in South Korea and Ja
Slide 19: Business environment
Public Slide 19 17 April 2013 Business environment
Slide 20: Business environment
Business environment Public Slide 20 17 April 2013 • We expect 2013 revenues to be at a similar level to 2012 • The underlying assumptions are unchanged: • Foundry and logic preparing for very lithography-intensive 14-16-20 nm technology nodes to be used for next generation mobile end-products • Lit
Slide 21: ASML technology status
Public Slide 21 17 April 2013 ASML technology status
Slide 22: EUV industrialization - source
EUV industrialization - source Public Slide 22 17 April 2013 • Implementation of the MOPA Pre-pulse Productivity roadmap technology has taken us beyond the development phase to incremental improvements leading to industrialization • The EUV source performs at 55 watts, corresponding to a NXE:3300B t
Slide 23: EUV industrialization – scanner
EUV industrialization – scanner Public Slide 23 17 April 2013 • Scanner imaging and overlay performance supports customer production implementation • NXE:3300B has imaged to 13 nm HP (half pitch) in a single exposure, demonstrating production capability for the 10nm logic node (23 nm HP) • Machine m
Slide 24: EUV deliveries and order status
EUV deliveries and order status Public Slide 24 17 April 2013 • ASML prepares the shipment and installation of the first 2 EUV systems which will happen in Q2 / Q3 2013 • We have received commitments for 7 NXE:3300B systems to ship in 2014, in addition to the existing 11 system orders • Currently Fu
Slide 25: Progress on immersion, Yieldstar and 450mm tools
Progress on immersion, Yieldstar and 450mm tools Public Slide 25 17 April 2013 • ASML shipped 5 NXT:1960Bi systems in the quarter, the successor to our NXT:1950i . This machine offers a 20 % improvement of overlay and focus control as well as a 30 % improvement in CD uniformity, which will support m
Slide 26: Outlook
Public Slide 26 17 April 2013 Outlook
Slide 27: Q2 Outlook
Q2 Outlook Public Slide 27 17 April 2013 • Net sales around € 1.1 billion • Gross margin 41 - 42 % • R&D costs of € 187 million • Other income (Customer Co-Investment Program) of € 16 million • SG&A costs of € 63 million, including € 6 million expenses related to pending Cymer acquisition • ASML exp
Slide 28: ASML
ASML