Asml Holding Nv · EURONEXT:ASML
Asml Holding Nv — Morgan Stanley TMT Conference 2006
15 slides from Asml Holding Nv's conference presentation, Dec 6, 2006
Slide 1: ASML - a strong company with secular growth opportunity
ASML - a strong company with secular growth opportunity Morgan Stanley TMT Conference Barcelona – November 16, 2006 Eric Meurice, President & CEO
Slide 2: Safe Harbor
Safe Harbor “Safe Harbor” Statement under the U.S. Private Securities Litigation Reform Act of 1995: the matters discussed in this document may include forward-looking statements that are subject to risks and uncertainties including, but not limited to: economic conditions, product demand and semico
Slide 3: ASML overview
2004/ 2005 2005 2004 IC Fabrication Equipment ASML overview -7.1% 23396.8 25191.0 Total Market +2.7% 2786.9 2712.4 ASML -6.3% 3480.9 3714.0 Tokyo Electron Ltd. -22.9% 4444.7 5768.1 Applied Materials Key facts: Headquarters: Veldhoven, the Netherlands Revenue 2006 ~ €3.5 B Market cap ~ €8.5 B Employe
Slide 4: Market share through technology
0% 10% 20% 30% 40% 50% 60% 12” & ArF 6” & early i-line KrF & Step & Scan 8” & I-line 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 Reliable introduction Lead time reduction Cost effective Market share through technology 1H-06 ArFi Source: ASML, SEMI
Slide 5: Key financial trends 2005 - 2006
Profit & Loss Statement M€ Q3 05 Q4 05 Q1 06 Q2 06 Q3 06 Units Sales Gross profit Gross margin % R&D SG&A Operating income Operatin g income % Net income Net income % ASP New Systems Booking Units Key financial trends 2005 - 2006 Numbers have been rounded for readers’ convenience 37.0 % 37.3 % 40.0
Slide 6: R&D spend per quarter is supporting continued technology leadership
R&D spend (M€) per quarter is supporting continued technology leadership Source: ASML Q1 2002 Q3 2002 Q1 2003 Q3 2003 Q1 2004 Q3 2004 Q1 2005 Q3 2005 Q1 2006 Q3 2006
Slide 7: Ensuring technological leadership
Ensuring technological leadership Continuously increasing R&D investments to reinforce leadership… … in Immersion: 500 TWINSCAN’s shipped 28 immersion systems shipped to customer sites on three continents - 4 are shipped to Japan 25 TWINSCAN XT:1700i – 45nm half pitch capable tools to be made in ‘06
Slide 8: Innovation: pushing ArF lithography to 40 nm and below
“40nm and below” ArFi lens: 1.35 NA Improved Overlay 6 nm Highest Productivity Fastest Scanning Stages: 131 wph @ 125 exposures / wafer Innovation: pushing ArF lithography to 40 nm and below TWINSCAN XT:1900i provides the best resolution, productivity and overlay Proven single barrel catadioptric le
Slide 9: Litho share of equipment approaching 18% level
Source: SEMI Last data point: June 2006 Expose & Write as % of Total Equipment Litho share of equipment approaching 18% level ! Expose & Write Equipment Sales as % of Total Equipment Sales 10% 12% 14% 16% 18% 20% 22% 24% 26% Expose & Write as % of Total Equipment Expon. (Expose & Write as % of Total
Slide 10: An Accelerated Moore's law to meet customer's roadmap
An Accelerated “Moore’s law” to meet customer’s roadmap Logic DRAM NAND ASML Product Introduction XT:1400 XT:1700i AT:1200 AT:850 XT:1900i DPT EUV Year – Production start
Slide 11: Lithography Equipment - a growing market with three major value drivers
Lithography Equipment - a growing market with three major value drivers Accelerating roadmap forcing more complexity… ASP increase not fully compensated by throughput …and more processing layers with Alternative shrink solutions (Spacer, 3D, Vertical gates) Double Patterning …with increased value ge
Slide 12: As shrink continues more litho layers and more immersion layers are needed
Source: ASML As shrink continues more litho layers and more immersion layers are needed…. … leading to growing Lithography expenditure Fabsize Memory - Flash 70kwsm Memory - Dram 50kwsm Logic/Foundry 30kwsm Flash 55nm Flash 45nm DRAM 65nm DRAM 55nm Logic 65nm Logic 45nm ArFi ArF KrF i line
Slide 13: Outlook update
Outlook update: Industry Analysts forecast average 9% IC unit growth in 2007 and about 5.5 billion Euro ($ 6.7 Billion) litho investment in 2007 (source: Gartner Dataquest and VLSI Research) ASML’s record current backlog of 2.1 billion Euro suggests strong H1 2007, sustained by Flash planned new fab
Slide 14: ASML's positioning for growth
ASML’s positioning for growth A secular trend, as Lithography needs per node are growing: More tools for more layers Higher ASP to address complexity A solid business model execution, as ASML continues to grow its worldwide market share through Technology leadership fueled by R&D strength and scale
Slide 15: Commitment
Commitment