Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Q3 2017 Earnings Presentation
23 slides from Asml Holding Nv's earnings presentation, Oct 18, 2017
Slide 1: ASML 2017 Third-Quarter Results
Q3 sales strong across the full product portfolio Very strong demand for DUV systems EUV shipments continue to ramp in support of customer plans ASML 2017 Third-Quarter Results Veldhoven, the Netherlands October 18, 2017 Public
Slide 2: Agenda
Public Slide 2 October 18, 2017 Agenda • Investor key messages • Business highlights • Outlook • Product / Market highlights • Financial statements
Slide 3: Investor key messages
Public Slide 3 October 18, 2017 Investor key messages
Slide 4: Investor key messages
Public Slide 4 October 18, 2017 Investor key messages • Shrink is a key industry driver supporting innovation and providing long term industry growth • Lithography enables affordable shrink and therefore delivers compelling value for our customers • EUV will enable continuation of Moore’s Law and wi
Slide 5: Business highlights
Public Slide 5 October 18, 2017 Business highlights
Slide 6: Q3 results summary
Public Slide 6 October 18, 2017 Q3 results summary • Net sales of € 2,447 million, net systems sales valued at € 1,819 million, net Installed Base Management sales at € 628 million • Gross margin of 42.9% • Operating margin of 26.8% • Net bookings of € 2,154 million • Backlog at € 5,693 million, inc
Slide 7: Net system sales breakdown in value
Public Slide 7 October 18, 2017 Net system sales breakdown in value Q3’17 total value € 1,819 million Q2’17 total value € 1,384 million Lithography systems do not include metrology and inspection systems
Slide 8: Total net sales by End-use and Installed Base Management
Public Slide 8 October 18, 2017 Foundry IDM Memory Total net sales million € by End-use YTD Installed Base Management Net Installed Base Management equals our service and field option sales
Slide 9: Bookings activity by sector
Public Slide 9 October 18, 2017 Bookings activity by sector Q3’17 total value € 2,154 million Q2’17 total value € 2,375 million Lithography systems New Used Units 65 5 Lithography systems New Used Units 49 6 Lithography systems do not include metrology and inspection systems
Slide 10: System backlog in value
Public Slide 10 October 18, 2017 System backlog in value Q3’17 total value € 5,693 million Q2’17 total value € 5,351 million Lithography systems New Used Units 110 12 Lithography systems New Used Units 93 14 Lithography systems do not include metrology and inspection systems
Slide 11: Progress of 2016/2017 share buyback program for up to €1.5 billion
Public Slide 11 October 18, 2017 Progress of 2016/2017 share buyback program for up to € 1.5 billion • € 569 million worth of shares (6.0 million) have been repurchased so far ◦ repurchased shares worth € 169 million in Q3 • As a result of the pause in the program from July 20, 2016 until July 19, 2
Slide 12: Outlook
Public Slide 12 October 18, 2017 Outlook
Slide 13: Q4 Outlook
Public Slide 13 October 18, 2017 Q4 Outlook • Q4 2017 net sales around € 2.1 billion ◦ EUV revenue approximately € 300 million • Gross margin around 44% • R&D costs of about € 315 million • SG&A costs of about € 110 million • Other income (Customer Co-Investment Program) of about € 24 million • Effe
Slide 14: Product / Market highlights
Public Slide 14 October 18, 2017 Product / Market highlights
Slide 15: EUV shipments ramp in support of customers production plans
Public Slide 15 October 18, 2017 EUV shipments ramp in support of customers production plans Customers show commitment to insert EUV in volume manufacturing by ordering systems ASML commits to securing system performance, shipments and support required for volume manufacturing • 3 NXE:3400B systems
Slide 16: ePfm5 pattern fidelity metrology tool shipped
Public Slide 16 October 18, 2017 • We shipped the first product that was jointly developed with the engineering team of HMI, which ASML acquired last year. The product, ePfm5, is a pattern fidelity metrology tool that offers our customers enhanced capabilities for detecting patterning defects • E-be
Slide 17: E-Beam inspection for EUV mask defects
Public Slide 17 October 18, 2017 E-Beam inspection for EUV mask defects • E-beam enables improved defect detection as optical inspection has resolution challenges on EUV reticles • Multi-column technology enables faster throughput to inspect full reticle in < 24 hours • First eXplore 6000 system shi
Slide 18: Financial statements
Public Slide 18 October 18, 2017 Financial statements
Slide 19: Consolidated statements of operations
Public Slide 19 October 18, 2017 Consolidated statements of operations M€ Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Net sales 1,815 1,907 1,944 2,101 2,447 Gross profit 834 901 925 946 1,050 Gross margin % 46.0% 47.2% 47.6% 45.0% 42.9% Other income 1 23 23 24 24 24 R&D costs (273) (287) (315) (313) (3
Slide 20: Consolidated statements of Cash flows
Public Slide 20 October 18, 2017 Consolidated statements of Cash flows M€ Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Net income 396 524 452 466 557 Net cash provided by (used in) operating activities (3) 1,193 (168) 530 400 Net cash provided by (used in) investing activities (485) (2,498) 150 (754) (72
Slide 21: Consolidated Balance sheets
Public Slide 21 October 18, 2017 Consolidated Balance sheets M€ Assets Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Cash & cash equivalents and short-term investments 4,313 4,057 3,836 2,514 2,678 Net accounts receivable and finance receivables 1,593 1,264 1,426 1,758 2,066 Inventories, net 2,697 2,781 2
Slide 22: Forward-looking statements
Public Slide 22 October 18, 2017 This document contains statements relating to certain projections and business trends that are forward-looking, including statements with respect to expected trends and outlook, systems backlog, expected financial results and trends for the fourth quarter of 2017, in
Slide 23: ASML
ASML