Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Investor Day (November 2014)
18 slides from Asml Holding Nv's investor day presentation, Nov 24, 2014
Slide 1: Creating value for all stakeholders
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Slide 2: Forward-looking statements
Forward Slide Public ASML November This segments, margin expected shipments, of new Law, “plan”, assumptions Forward-looking equipment confidence performance roadmaps, ability litigation, available underlying acquired are our made applications document and 2tools, to percentage, “estimate”, looking
Slide 3: Summary: ASML's prime responsibility is to provide value
Summary: Slide Public November ASML’s Our ASML We have success 3 models prime reviewed ASML’s 2014 is based an responsibility annual our positioning, onmost delivering total impactful isrevenue to opportunities provide Litho threats opportunity products value and andfor feel with threats ofour 10B€
Slide 4: ASML's financial performance and value creation
ASML’s Slide Public November 31Average Financial +112% 100 200 300 400 500 600 and Total Semicon Global 5AEX 15 We ASML 13 +160% 11 09 08 07 8642006 10 12 Since to Cumulative for Data prior Source: 2014 2013 2012 2011 005 010 our 2014 our highly supply have AEX not to 06 return index 42010 supply in
Slide 5: Our focused strategy drives superior products and market share
Slide Public November Our Litho 963+ +12% +7% O 01ASML 25 50 85% EUV Twinscan Immersion Scanner Stepper 75 Source: 2013 ‘10 ‘08 ‘06 ‘04 ‘02 ‘2000 ’98 ’96 ’94 ’92 ’90 ’88 ’86 984 12% ur focused success market p.a. 5market p.a. Litho Gartner, 2014 isis strategy market B$growing based S&Pshare on enabl
Slide 6: Historically our revenues have been volatile
Historically Slide Public ASML November Quarterly Ø0.99 1.0 -82% -46% 1.2 1.4 1.6 1.8 022.0 0.2 0.4 0.6 -10% 0.8 +87% +54% Source: 2014 2013 2012 2011 2010 2009 2008 2007 2006 005 6B€ASML revenues, 2014 our revenues B€ have been volatile due to the industry cyclicality and uncertainty...
Slide 7: Therefore we have built a flexible operating model
... therefore Slide Public November Flexible Indicators Employees, Low Additional Outsourced Cost R&D COG, 14 Flex Flexworkers 2014 2009 19% 14% 62% 65% 80% 85% 38% 35% 81% 86% 20% 15% 100% 1,066 450 Bill Own Source: ASML D&E of labor share of personnel 7spend, =8 = M€ material Goods ASML workforce
Slide 8: We expect further growth from new devices and applications
We Slide Public ASML November Further New through performance Smartphones, Wearables, +28% +15% 1. 1.4 1.2 1.1 0.9 Tablets, 0.10 0.18 +10% N/A Connected 0.21 0.20 0.19 0.17 0.14 Servers, Internet +25% +4% 8.5 #Big 6.9 Source: 2017 2016 2015 2014 2013 3.5 12 11 10 4.4 5.5 cores 5 expect Data applicat
Slide 9: Moore's law enabled by continued customer roadmaps
…enabled ASML HVM Logic 28nm DRAM MRAM Planar 3D X-Point: Today’s Production Research Node Source: NAND x20nm Poly 2012 Floating Public #Working ASML, status 1xH ReRAM, Roadmap ofby 5x Development SiON 2013 layers 14/16nm 1xM continued Slide x24 Gate Customer Memory 2014 HiK 1xL CBRAM, 5x 9NAND Nove
Slide 10: ASML in an ecosystem that drives innovation
… intechnology Top intel Toshiba QUALCOMM® (49) EMC Semi Hardware Software ASML Total SAMSUNG (13) an EBIT equipment manufacturers (4) Public (2) Peers (3) ecosystem SAP® and TSMC manufacturers AMAT 2013 Semi services Slide companies (7) (7) (8) = (35) (1) Other ~250 that IBM 10 Semi TITEL Hitachi N
Slide 11: Time and cost reductions remain compelling for customers
…Time Cost 100% No -45% Investment Node 50 Months N90 Future 1Realized Source: and 25 full N65 per NoN investment 010% by in shrink ASML function N40 months compelling -32% 1% pay-back step, N28 Patterning 0.1% NoN payback reductions for that N20 mainly time1 logic cost it-41% takes N16 N10 cost tim
Slide 12: Full opportunity of 10B€ revenue by 2020
Continuation Full Assumptions Customers For End-market ASML EUV Growth ~10 >5.6 Dry ArFi 2014 Source: prudent ASML 2020 0.33 Public total ASML opportunity will roadmap financial demand revenue of Slide marketing continue Moore’s 12 15+ is B€ is modelling based November delivered to B€ Law model deli
Slide 13: Litho revenues grow with number of passes per wafer
ASML Total B€ 6Litho 3x Node -10% End-market 178 Passes EUV 35 Growth Average M€/k 171 The N90 LOGIC 1) Source: +199% 1000 & +46% +159% +121% value N20 ArFi 4x Logic 300 capacity growth capex passes #Public ASML due EXAMPLE wafer higher cost passes +293% 51 N5 270 of Dry +169% litho 380 decreases M€
Slide 14: We reviewed our most impactful threats: delay and substitutes
1We ASML Source 2EUV Increased Substitutes Delay Competition have infrastructure Public power inreviewed competition EUV for/Slide and EUV availability insertion our substitutes not 14 becoming in most November ready DUV not impactful intechnically scaling time 2014threats up fast feasible enough an
Slide 15: EUV delay: financial downside is mitigated
1 Even Delay Source EUV ASML Customers Economics The We have continuously financial infrastructure inASML approach power with EUV allocated indicated, ofdelayed downside /Moore’s Public insertion availability monitor massive not EUV EUV Slide law ready ofprogress potential delivery will resources 15
Slide 16: Increased competition from substitutes
2 Wecontinuously Competition Increased Substitutes ASML Multiple Next Additional Alternative Currently We continue to remain Public approach cost, patterning competition there DUV for technologies and executing competitive we Slide EUV are believe demand substitutes monitor no 16 becoming viable in
Slide 17: Summary: ASML's success is based on delivering value
Summary: ASML’s Our ASML We have success Public models prime reviewed ASML’s is Slide based an responsibility annual our positioning, 17 onmost November delivering total impactful isrevenue to opportunities 2014 provide Litho threats opportunity products value and andfor feel with threats ofour 10B€
Slide 18: Investor Day ASML London
INVESTOR DAY ASML LONDON ASMLSMALLTALK2014