Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — TMT Conference 2011 – Bank of America
30 slides from Asml Holding Nv's conference presentation, Jun 7, 2011
Slide 1: TMT Conference 2011 – Bank of America
Exhibit 99.1 TMT Conference 2011 – Bank of America London Franki D’Hoore, Director European Investor Relations June 7, 2011
Slide 2: Safe Harbor
Safe Harbor "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 backlog, IC unit demand, financial results, average selling pr
Slide 3: ASML Headquarters in Veldhoven, the Netherlands
ASML Headquarters in Veldhoven, the Netherlands ASML: the number 2 semiconductor equipment supplier in the world in 2010
Slide 4: Agenda
Agenda Business Overview Market ASML EUV update Outlook and summary
Slide 5: Business Overview
Business Overview
Slide 6: Total net sales M€ by quarter, 2006-2011
629 949 919 183 742 1,452 942 930 844 277 1,069 958 934 697 555 1,176 1,053 955 494 581 1,521 1,000 2,000 3,000 4,000 5,000 6,000 2006 2007 2008 2009 2010 2011 Q4 Q3 Q2 Q1 Total net sales M€ 3,582 3,768 Numbers have been rounded for readers’ convenience. 2,954 1,596 4,508
Slide 7: Q1 results - highlights
Q1 results - highlights Net sales of € 1,452 million, 63 systems shipped valued at € 1,284 million, service and field option sales at € 168 million Gross margin of 44.7% Operating margin of 31.0% Net system bookings of 40 systems, € 845 million Backlog at € 3,330 million, 134 systems with ASP of € 2
Slide 8: Key financial trends 2010 – 2011
Key financial trends 2010 – 2011 Consolidated statements of operations M€ Q1 10 Q2 10 Q3 10 Q4 10 Q1 11 Net Sales 1,069 1,176 1,521 1,452 Gross profit Gross margin % 40.3% 43.0% 43.6% 45.0% 44.7% R&D costs SG&A costs Income from operations Operating income % 18.5% 27.4% 27.9% 32.4% 31.0% Net income
Slide 9: Backlog in value per March 27, 2011
Backlog in value per March 27, 2011 Numbers have been rounded for readers’ convenience.
Slide 10: Market
Market
Slide 11: Business environment
Business environment Semiconductor manufacturers have shown caution in assessing economic impact of Japanese earthquake on their supply chain and end-product markets Although direct impact to the electronics industry world- wide seems limited, it has caused some of our customers to review their exis
Slide 12: 3mma IC revenue, inventory and inventory days
3mma IC revenue, inventory and inventory days - 3mma IC inventory value (left) 3mma IC revenues (left) 3mma IC consumption: revenues ± inventory value change (left) 3mma Inventory days (right) Consumption decreased in March, whereas revenues increased, causing growing IC inventory level Source: VLSI
Slide 13: DRAM
DRAM Source: DRAMeXchange (5/5/2011), ASML MCC Further recovery of contract prices leads tier manufacturers at low 5x nm (closer) to profitability <Customer litho system utilizations high>
Slide 14: NAND
NAND SLC spot prices slide after change in product mix in March, overall chip prices remain quite stable at healthy levels <Customer litho tool utilization remain high> Source: DRAMeXchange (5/5/2011), ASML MCC
Slide 15: ASML EUV update
ASML EUV update
Slide 16: Technology - EUV
Technology - EUV NXE:3100 second generation EUV Three NXE:3100 shipped to date, 3 more to go Progress ongoing to reach target throughput by year end Customer process development started Infrastructure development transitioning to optimization phase (masks, resist, metrology, etc) Revenue recognition
Slide 17: Why EUV? EUV supports IC & Lithography roadmap towards <10nm
Why EUV? EUV supports IC & Lithography roadmap towards <10nm Year of production start Notes: 1. R&D solution required 1.5~ 2 yrs ahead of Production 2. EUV resolution requires 7nm diffusion length resist 3. DPT = Double Patterning 4. QPT = Double Double Patterning Source: Customers, ASML
Slide 18: Consumers are the winners
Consumers are the winners Shrink drives manufacturing cost down Note: data iSupply, March 2009. High quality Flash
Slide 19: Shrink drives device complexity which drives litho opportunity
Shrink drives device complexity which drives litho opportunity due to a growing number of critical litho layers Source: ASML Marketing (03/11), 300mm wafers only
Slide 20: Increasing immersion layers per node, per year with shrink in memory too
Increasing immersion layers per node, per year with shrink in memory too Source: ASML Marketing (03/11), 300mm wafers only
Slide 21: Typical Patterning Schemes for Critical Layers
Typical Patterning Schemes for Critical Layers DPT = Double Patterning Source: ASML Strategic Marketing
Slide 22: EUV lowers overall costs for customer, while increasing litho costs
EUV lowers overall costs for customer, while increasing litho costs * Source: ASML Strategic Marketing; Cost of Technology model incl. Capex & Opex – NAND Example Cost per layer [Euro/Wafer]
Slide 23: ASML's Unique Holistic Litho Optimisation & Control
ASML’s Unique Holistic Litho Optimisation & Control of future low k1, DP and EUV litho processes
Slide 24: ASML's unique Holistic Litho optimisation & control
ASML’s unique Holistic Litho optimisation & control of future low k1, DP and EUV litho processes
Slide 25: Holistic Litho creating value
Holistic Litho creating value Customers: Improved chip yield capability and cycle time improvement for semiconductors made with advanced litho process like low k1, double pattering and EUV ASML: Holistic products sold with new machines or added to existing tools in customers factories result in High
Slide 26: Section Summary
Section Summary Low k1 Double Patterning Lithography enables extension of immersion Lithography bridging the gap until single patterning EUV is available However, Double Patterning presents significant Cost, Process Control, and Cycle Time manufacturing challenges Advanced Optical Metrology enables
Slide 27: Outlook and summary
Outlook and summary
Slide 28: Q2 2011 outlook
Q2 2011 outlook Order intake between € 900 million – €1 billion Net sales around € 1.5 billion Gross margin about 45% R&D at € 150 million SG&A at € 55 million ASML expects 2011 total revenue clearly above € 5 billion
Slide 29: Cash return
Cash return € 2.7B cash & cash equivalents at end Q1 2011 € 1 B / 24 month share buy back program in progress 25% of program executed until wk 21 7 million shares repurchased at an average price of € 29.42 Weekly updates available on ASML’s website Dividend for 2010 of € 0.40 per ordinary share (app
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