Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Shareholder Meeting (May 2016)
59 slides from Asml Holding Nv's shareholder meeting presentation, May 4, 2016
Slide 1: ASML Annual General Meeting 2016
Exhibit 99.2 ASML Annual General Meeting 2016 Veldhoven, the Netherlands, 29 April 2016
Slide 2: Forward looking statements (1)
Forward looking statements (1) ASML Public Slide 2 29 April 2016 This document contains statements relating to certain projections and business trends that are forward-looking, including statements with respect to our outlook, expected customer demand in specified market segments including DRAM and
Slide 3: Forward looking statements (2)
Forward looking statements (2) ASML Public Slide 3 29 April 2016 Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include, without limitation, economic conditions, product demand and semiconductor equipment industry cap
Slide 4: Agenda
Agenda ASML Public Slide 4 29 April 2016 van de Jaarlijkse Algemene Vergadering van Aandeelhouders van ASML Holding N.V. (de “Vennootschap”), te houden op vrijdag 29 april 2016, om 14.00 uur in het Auditorium, ASML Gebouw 7, De Run 6665, Veldhoven 1. Opening 2. Overzicht van de activiteiten, inclusi
Slide 5: ASML at a glance; Technology highlights; Business highlights; Outlook; Capital allocation
ASML Public Slide 5 29 April 2016 Agenda ASML at a glance Technology highlights Business highlights Business environment and outlook Capital allocation
Slide 6: ASML at a glance
ASML Public Slide 6 29 April 2016 ASML at a glance
Slide 7: Vision, Mission, Corporate Priorities
ASML Public Slide 7 29 April 2016 Vision Mission Corporate Priorities Vision ‘Why?’ Mission ‘What?’ Corporate Priorities ‘How?’
Slide 8: Vision
ASML Public Slide 8 29 April 2016 Vision (answering the “why” question) ASML makes possible affordable microelectronics that improve the quality of life
Slide 9: Mission
ASML Public Slide 9 29 April 2016 Mission (answering the “What” question) ASML invents, develops and manufactures advanced patterning technology for high-tech lithography, metrology and software solutions for the semiconductor industry. ASML’s guiding principle is continuing Moore’s Law towards ever
Slide 10: Corporate Priorities
ASML Public Slide 10 29 April 2016 Corporate Priorities (answering the “How” question”): Five corporate priorities to execute the mission. MAKE IT WORK MAKE IT WELL MAKE IT TOGETHER MAKE IT WORTH IT MAKE US GROW
Slide 11: Employees, R&D and manufacturing locations
ASML Public Slide 11 29 April 2016 Employees, R&D and manufacturing locations R&D Sites Manufacturing Sites Employees per continent (Total: 14,681) Santa Clara U.S. San Diego U.S. Wilton U.S. 3,310 8,823 2,548 Pyeongtaek Korea Shenzhen China Linkou Taiwan Veldhoven Netherlands
Slide 12: Technology highlights
ASML Public Slide 12 29 April 2016 Technology highlights
Slide 13: The three elements of ASML's holistic shrink roadmap
ASML Public Slide 13 29 April 2016 The three elements of ASML’s holistic shrink roadmap DUV and EUV will co-exist for a long time Extend DUV to support multiple patterning Introduce EUV to volume manufacturing Support both with a suite of process window enhancement, control and calibration products
Slide 14: Our fourth-gen NXT is rapidly ramping into production
ASML Public Slide 14 29 April 2016 Our fourth-gen NXT is rapidly ramping into production Better overlay, focus, productivity in support of leading-edge nodes NXT:1980i starting shipping late 2015 1.2 nm dedicated chuck overlay Better than 10 nm focus uniformity 10% throughput increase to 275 wafers/
Slide 15: EUV introduces yet a new range of innovations
ASML Public Slide 15 29 April 2016 EUV introduces yet a new range of innovations Vacuum system Reflective mask New resists Laser-produced plasma source NXE:3350B
Slide 16: EUV is being prepared for high volume production
ASML Public Slide 16 29 April 2016 EUV is being prepared for high volume production Customer expressed increased confidence at SPIE Advanced Lithography MIT Technology Review JOURNAL Electronic Engineering HOME DESIGN MARKETS/INDUSTRIES ON DEMAND ARCHIVES COMM Feature Article March 28, 2016 EUV Beco
Slide 17: Demonstrated wafers per hour on NXE:3350B
ASML Public Slide 17 29 April 2016 Demonstrated 75 wafers per hour on NXE:3350B Further improvement with 125W upgrade NXE:3300B, at customers NXE:3350B, in ASML factory * Improved optics transmission Source power upgrade 100 90 80 70 60 50 40 30 20 10 0 2015 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q3 2015 Q
Slide 18: EUV 2016 targets and achievements
ASML Public Slide 18 29 April 2016 EUV 2016 targets and achievements Productivity - Target: 1500 wafers per day More than 1000 wafers per day exposed on NXE:3300B at customer sites, further improved to more than 1350 wafers per day on NXE:3350B at ASML A manufacturing readiness test at a customer si
Slide 19: Business highlights
ASML Public Slide 19 29 April 2016 Business highlights
Slide 20: 2015 - highlights
ASML Public Slide 20 29 April 2016 2015 - highlights Record net sales of € 6.3 billion, including record Service and Options sales of € 2 billion, gross margin 46.1%, net income € 1.4 billion and EPS € 3.22 EUV: we met our 2015 productivity and availability targets and successfully started shipping
Slide 21: Consolidated statements of operations
ASML Public Slide 21 29 April 2016 Consolidated statements of operations M€ Figures are in EUR millions, unless otherwise indicated Net sales Gross profit Gross margin % Other income* R&D costs SG&A costs Income from operations Operating income % Net income Net income as a % of net sales Earnings pe
Slide 22: Total net sales by End-use
ASML Public Slide 22 29 April 2016 Total net sales million € by End-use Service & Options Foundry IDM Memory Net Sales 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 4,508 613 944 366 2,585 2010 5,651 767 1,856 844 2,184 2011 4,732 930 2,279 588 935 2012 5,245 1,252 2,064 440 1,489 2013 5,856 1,614 1,1
Slide 23: 2015 Net system sales breakdown in value
ASML Public Slide 23 29 April 2016 2015 Net system sales breakdown in value Technology Region (ship to location) KrF 18% ArF dry 2% i-line 2% EUV 2% ArF Immersion 76% China 9% Taiwan 29% Korea 31% Japan 11% USA 17% Europe 2% Rest of Asia 1% Sales in Units 74 67 18 1 9 EUV ArF i ArFdry KrF I-Line Num
Slide 24: Q1 2016 results summary
ASML Public Slide 24 29 April 2016 Q1 2016 results summary Q1 sales in line with our guidance Net sales of € 1,333 million, 33 litho systems sold, valued at € 856 million, net service and field option sales at € 477 million Average selling price of € 25.9 million per system Gross margin of 42.6% Ope
Slide 25: Net system sales breakdown in value
ASML Public Slide 25 29 April 2016 Net system sales breakdown in value Q1’16 total value € 856 million Q4’15 total value € 881 million Numbers have been rounded for readers’ convenience Technology ArF DRY 5% I-line 2% KrF 14% ArF Immersion 79% End-Use Memory 42% Foundry 48% IDM 10% China 35% USA 10%
Slide 26: System backlog in value
ASML Public Slide 26 29 April 2016 System backlog in value Q1’16 total value € 3,018 million Q4’15 total value € 3,184 million Numbers have been rounded for readers’ convenience New systems Used systems Units 64 12 Value M€ 2,975 43 New systems Used systems Units 68 11 Value M€ 3,149 35 Technology A
Slide 27: Balance sheets
ASML Public Slide 27 29 April 2016 Balance sheets M€ Assets Cash & cash equivalents and short-term investments Net accounts receivable and finance receivables Inventories, net Other assets Tax assets Goodwill Other intangible assets Property, plant and equipment Total assets Liabilities and sharehol
Slide 28: Business Environment and Outlook
ASML Public Slide 28 29 April 2016 Business Environment and Outlook
Slide 29: Business environment 2016
ASML Public Slide 29 29 April 2016 Business environment 2016 2x nm DRAM node progressing, 1x nm node initial production starting Planar NAND shrink continues 3D NAND technology ramping X-Point initial production expected to start this year Multiple new foundries fabs accepting equipment in 2016 Cont
Slide 30: Outlook
ASML Public Slide 30 29 April 2016 Outlook Our guidance for second-quarter: Q2 net sales approximately € 1.7 billion Including about € 110 million on two NXE:3350B sales Gross margin around 42% Initial low profitability on early EUV systems and partial EUV revenue recognition at full cost together h
Slide 31: ASML Financial Model
ASML Public Slide 31 29 April 2016 ASML Financial Model … Net sales Gross margin % R&D* % sales SG&A % sales Effective Tax Rate Cash Conversion Cycle Capex % sales 2015 (Actual) 6.3B€ ~46% ~17% ~6% ~10% ~300 days ~6% By 2020 (Model) ~10B€ ~50% ~13% ~4% ~10% <200 days ~5% Driver Growing share of Lith
Slide 32: Capital Returns
ASML Public Slide 32 29 April 2016 Capital Returns
Slide 33: Capital return to shareholders
ASML Public Slide 33 29 April 2016 Capital return to shareholders Paid € 302 million in dividend and purchased € 565 million worth of our own shares in 2015 In January 2016 we announced a new plan for a share buyback program of € 1.5 billion over 2016/2017, which includes approx. € 500 million remai
Slide 34: Summarizing our investor key messages
ASML Public Slide 34 29 April 2016 Summarizing our investor key messages Shrink is the key industry driver supporting innovation and providing long term industry growth Moore’s Law will continue and be affordable Lithography enables affordable shrink and therefore delivers compelling value for our c
Slide 35: ASML
ASML
Slide 36: Proefstemming
ASML Public Slide 36 29 April 2016 Agenda Proefstemming “ASML zou vitaminedrankjes moeten aanbieden op de borrel na de aandeelhoudersvergadering.”
Slide 37: 3. Bespreking van de implementatie van het beloningsbeleid
ASML Public Slide 37 29 April 2016 Agenda 3. Bespreking van de implementatie van het beloningsbeleid van de Vennootschap (Discussiepunt)
Slide 38: Execution of the Remuneration Policy
ASML Public Slide 38 29 April 2016 Execution of the Remuneration Policy The Remuneration Policy for the Board of Management was adopted by the Annual General Meeting of Shareholders of April 24, 2013 and became effective per January 1, 2014. Some adjustments to the Remuneration Policy were adopted b
Slide 39: 3. Bespreking van de implementatie van het beloningsbeleid
ASML Public Slide 39 29 April 2016 Agenda 3. Bespreking van de implementatie van het beloningsbeleid van de Vennootschap (Discussiepunt)
Slide 40: 4. Vaststelling jaarrekening boekjaar 2015
ASML Public Slide 40 29 April 2016 Agenda 4. Voorstel tot vaststelling van de overeenkomstig de Nederlandse wet opgestelde jaarrekening over het boekjaar 2015 (Stempunt)
Slide 41: 5. Decharge aan de leden van de Directie
ASML Public Slide 41 29 April 2016 Agenda 5. Voorstel tot verlening van decharge aan de leden van de Directie voor de uitoefening van hun functie in het boekjaar 2015 (Stempunt)
Slide 42: 6. Decharge aan de Raad van Commissarissen
ASML Public Slide 42 29 April 2016 Agenda 6. Voorstel tot verlening van decharge aan de leden van de Raad van Commissarissen voor de uitoefening van hun functie in het boekjaar 2015 (Stempunt)
Slide 43: 7. Reserverings- en dividendbeleid
ASML Public Slide 43 29 April 2016 Agenda 7. Toelichting op het reserverings- en dividendbeleid van de Vennootschap (Discussiepunt)
Slide 44: 8. Vaststelling dividend van EUR 1,05 per aandeel
ASML Public Slide 44 29 April 2016 Agenda 8. Voorstel tot vaststelling van een dividend van EUR 1,05 per gewoon aandeel (Stempunt)
Slide 45: 9. Goedkeuring aantal aandelen voor de Directie
ASML Public Slide 45 29 April 2016 Agenda 9. Voorstel tot goedkeuring van het aantal aandelen toe te kennen aan de Directie (Stempunt)
Slide 46: 10. Goedkeuring aantal opties en/of aandelen voor werknemers
ASML Public Slide 46 29 April 2016 Agenda 10. Voorstel tot goedkeuring van het aantal opties en/of aandelen toe te kennen aan werknemers (Stempunt)
Slide 47: 11. Samenstelling van de Raad van Commissarissen
ASML Public Slide 47 29 April 2016 Agenda 11. Samenstelling van de Raad van Commissarissen (Discussiepunt)
Slide 48: 12. Benoeming van KPMG als externe accountant
ASML Public Slide 48 29 April 2016 Agenda 12. Voorstel tot benoeming van KPMG als externe accountant voor het rapportagejaar 2017 (Stempunt)
Slide 49: 13. Directie aanwijzen voor uitgifte van aandelen
ASML Public Slide 49 29 April 2016 Agenda 13. Voorstellen om de Directie aan te wijzen als het orgaan dat bevoegd is tot uitgifte van gewone aandelen of tot toekenning van rechten tot het verwerven van gewone aandelen, alsmede tot het beperken of uitsluiten van het aan de aandeelhouders toekomende v
Slide 50: 13a. Aanwijzing tot uitgifte van gewone aandelen (5%)
ASML Public Slide 50 29 April 2016 Agenda 13a. Aanwijzing tot uitgifte van gewone aandelen of tot toekenning van rechten tot het verwerven van gewone aandelen (5%) (Stempunt)
Slide 51: 13b. Beperken of uitsluiten van voorkeursrechten
ASML Public Slide 51 29 April 2016 Agenda 13b. Aanwijzing tot het beperken of uitsluiten van voorkeursrechten (Stempunt)
Slide 52: 13c. Uitgifte aandelen bij fusies en acquisities (5%)
ASML Public Slide 52 29 April 2016 Agenda 13c. Aanwijzing tot uitgifte van gewone aandelen of tot toekenning van rechten tot het verwerven van gewone aandelen in verband met of ter gelegenheid van fusies, acquisities en/of (strategische) allianties (5%) (Stempunt)
Slide 53: 13d. Beperken of uitsluiten van voorkeursrechten
ASML Public Slide 53 29 April 2016 Agenda 13d. Aanwijzing tot het beperken of uitsluiten van voorkeursrechten (Stempunt)
Slide 54: 14. Machtiging om gewone aandelen te verwerven
ASML Public Slide 54 29 April 2016 Agenda 14. Voorstellen om de Directie te machtigen om gewone aandelen te verwerven (Stempunten)
Slide 55: 14a. Inkoop tot maximum van 10% van het kapitaal
ASML Public Slide 55 29 April 2016 Agenda 14a. Machtiging om gewone aandelen in te kopen tot een maximum van 10% van het geplaatste kapitaal (Stempunt)
Slide 56: 14b. Additionele inkoop tot maximum van 10%
ASML Public Slide 56 29 April 2016 Agenda 14b. Machtiging om additioneel gewone aandelen in te kopen tot een maximum van 10% van het geplaatste kapitaal (Stempunt)
Slide 57: 15. Intrekking van gewone aandelen
ASML Public Slide 57 29 April 2016 Agenda 15. Voorstel tot intrekking van gewone aandelen (Stempunt)
Slide 58: 16. Rondvraag 17. Sluiting
ASML Public Slide 58 29 April 2016 Agenda 16. Rondvraag 17. Sluiting
Slide 59: ASML
ASML