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0000950123-11-023947.txt : 201103100000950123-11-023947.hdr.sgml : 2011031020110310103212ACCESSION NUMBER:0000950123-11-023947CONFORMED SUBMISSION TYPE:6-KPUBLIC DOCUMENT COUNT:27CONFORMED PERIOD OF REPORT:20110310FILED AS OF DATE:20110310DATE AS OF CHANGE:20110310
FILER:
COMPANY DATA:COMPANY CONFORMED NAME:ASML HOLDING NVCENTRAL INDEX KEY:0000937966STANDARD INDUSTRIAL CLASSIFICATION:SPECIAL INDUSTRY MACHINERY, NEC [3559]IRS NUMBER:000000000FISCAL YEAR END:1231
FILING VALUES:FORM TYPE:6-KSEC ACT:1934 ActSEC FILE NUMBER:001-33463FILM NUMBER:11677125
BUSINESS ADDRESS:STREET 1:DE RUN 6501CITY:DR VELDHOVENSTATE:P7ZIP:5504BUSINESS PHONE:31402683000
MAIL ADDRESS:STREET 1:P.O. BOX 324CITY:AH VELDHOVENSTATE:P7ZIP:5500
FORMER COMPANY:FORMER CONFORMED NAME:ASM LITHOGRAPHY HOLDING NVDATE OF NAME CHANGE:19950215
6-K1u10788e6vk.htm6-K
e6vk
Table of Contents
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF A FOREIGN ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For March10, 2011
ASML Holding N.V.
De Run 6501
5504 DR Veldhoven
The Netherlands
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form20-F or Form 40-F.
Form20-FForm40-Fo
Indicate by check mark whether the registrant by furnishing the information contained in this Formis also thereby furnishing the information to the Commission pursuant to Rule12g3-2(b) under theSecurities Exchange Act of 1934.
YesoNo
If Yes is marked, indicate below the file number assigned to the registrant in connection withRule12g3-2(b):
TABLE OF CONTENTS
SIGNATURES
EX-99.1
EX-99.1
Table of Contents
Exhibits
99.1 UBS Technology Conference 2011, presentation dated March10, 2011
Safe Harbor Statement under the US Private Securities Litigation Reform Act of 1995: the mattersdiscussed in this document may include forward-looking statements, including statements made aboutour outlook, realization of backlog, IC unit demand, financial results, average selling price,gross margin and expenses, dividend policy and intention to repurchase shares. These forwardlooking statements are subject to risks and uncertainties including, but not limited to: economicconditions, product demand and semiconductor equipment industry capacity, worldwide demand andmanufacturing capacity utilization for semiconductors (the principal product of our customer base),including the impact of general economic conditions on consumer confidence and demand for ourcustomers products, competitive products and pricing, the impact of manufacturing efficiencies andcapacity constraints, the pace of new product development and customer acceptance of new products,our ability to enforce patents and protect intellectual property rights, the risk of intellectualproperty litigation, availability of raw materials and critical manufacturing equipment, tradeenvironment, changes in exchange rates, available cash, distributable reserves for dividendpayments and share repurchases and other risks indicated in the risk factors included in ASMLsAnnual Report on Form 20-F and other filings with the US Securities and Exchange Commission.
2
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has dulycaused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
ASML HOLDING N.V. (Registrant)
Date: March 10, 2011 By: /s/ Peter T.F.M. Wennink
Peter T.F.M. Wennink
Executive Vice President
and Chief Financial Officer
3
EX-99.12u10788exv99w1.htmEX-99.1
exv99w1
Exhibit 99.1
/ Slide 1
UBS Technology Conference 2011
Franki D'Hoore - Director European Investor Relations
London, March 10, 2011
/ Slide 2
Safe Harbor
"Safe Harbor" Statement under the US Private Securities Litigation Reform Act of1995: the matters discussed in this document may include forward-lookingstatements, including statements made about our outlook, realization of backlog, ICunit demand, financial results, average selling price, gross margin and expenses,dividend policy and intention to repurchase shares.
These forward looking statements are subject to risks and uncertainties including,but not limited to: economic conditions, product demand and semiconductorequipment industry capacity, worldwide demand and manufacturing capacityutilization for semiconductors (the principal product of our customer base),including the impact of general economic conditions on consumer confidence anddemand for our customers' products, competitive products and pricing, the impactof manufacturing efficiencies and capacity constraints, the pace of new productdevelopment and customer acceptance of new products, our ability to enforcepatents and protect intellectual property rights, the risk of intellectual propertylitigation, availability of raw materials and critical manufacturing equipment, tradeenvironment, changes in exchange rates, available cash, distributable reserves fordividend payments and share repurchases and other risks indicated in the riskfactors included in ASML's Annual Report on Form 20-F and other filings with theUS Securities and Exchange Commission.
/ Slide 3
Agenda
Business summary
Market
ASML business update
Outlook and summary
/ Slide 4
Business summary
/ Slide 5
Q4 results - highlights
Net sales of 1,521 million, 69 systems shipped valued at
1,313 million, service revenue at 208 million
Gross margin of 45.0%
Operating margin of 32.4%
Shipped 28 immersion systems
Net bookings are valued at 2,315 million with 117 systems(see slide 12)
Backlog increased to 3,856 million, 157 systems with ASPof 27.7 million for new tools, including 67 immersion tools
Generated 302 million cash from operations
/ Slide 6 2005 2006 2007 2008 2009 2010 Q1 685 629 949 919 183 742 Q2 763 942 930 844 277 1069 Q3 533 958 934 697 555 1176 Q4 548 1053 955 494 581 1521
Total net sales M
2,529
3,582
3,768
Numbers have been rounded for readers' convenience.
2,954
1,596
4,508
/ Slide 7
Key financial trends 2009 - 2010
Consolidated statements of operations M
Numbers have been rounded for readers' convenience.
Numbers have been adjusted for consolidation of variable interest entity.
Net bookings value numbers have been adjusted, see slide 12.
/ Slide 8
Backlog: value and litho units Backlog Jan 05 Apr 05 Jul 05 Oct 05 Jan 06 Apr 06 Jul 06 Oct 06 Jan 07 Apr 07 Jul 07 Oct 07 Jan 08 Apr 08 Jul 08 Oct 08 Jan 09 4/9/2009 Jul 09 Oct 09 Jan 10 Apr 10 Jul 10 10/10/2010 1/1/2011 Backlog value 1691 1377 987 1245 1434 1596 1830 2126 2146 2163 1745 1769 1697 1167 1106 1028 755 853 1064 1551.9 2113.7 2524.2 2803.4 2983 3855.7 Units 131 107 80 87 95 106 127 151 163 148 109 90 89 65 59 53 41 38 43 54 69 85 100 109 157
Backlog in units
57 % of backlog or 2,208 million system sales carry shipmentdates in the next 6 months, 100% backlog shippable in 2011
Last 6 quarters are restated according new backlog definition
/ Slide 9 Korea Taiwan USA Japan Singapore Europe China 11 23 28 4 13 11 10
DRAM IDM Foundry NAND 27 21 33 0 19 0
immersion KrF 1-line ArF dry 71 22 1 6
Backlog in value per December 31, 2010
Total value M 3,856
Technology
ArF
immersion
71%
KrF
22%
I-Line 1%
Region (ship to location)
USA
28%
Taiwan23%
Korea 11%
Europe 11%
Japan 4%
End-use
DRAM27%
IDM
21%
Foundry
33%
Numbers have been rounded for readers' convenience.
Singapore 13%
China 10%
ArF dry 6%
NAND19%
/ Slide 10 DRAM idm foundry NAND 11 11 50 28
Bookings activity by sector - total value M 2,315
DRAM idm foundry NAND 16 6 48 30
Bookings in value Bookings in units
IDM 6%
Foundry
48%
DRAM
16%
IDM
11%
Foundry
50%
DRAM
11%
NAND
28%
NAND
30%
Booked 104 new tools at 2,250 million, 13 used at 65 million
Numbers have been rounded for readers' convenience.
/ Slide 11
Market
/ Slide 12
All sectors are ramping their new nodes
Wafer starts per node
Wafer starts per nodeWafer starts per node
DRAM
NAND
Logic
MPU
ASML estimates
/ Slide 13
New fab litho opportunity
13 fabs projects representing 7.0 billion of litho (2011-2012)
Publicly announced projects
Publicly announced projects
Slide 14
Source: DRAMeXchange (7/2/2011), ASML MCC
DRAM spot prices improving for both 2Gb and 1GbDDR3 products
300 mm cash-costs for5x nm 1 Gb DRAMbetween 0.8 & 0.9 USD
300 mm cash-costs for7x nm 1 Gb DRAMbetween 1.4 & 1.6 USD
300 mm cash-costs for6x nm 1 Gb DRAMbetween 1.1 & 1.25 USD
300 mm cash-costs for 4xnm 2 GbDRAMbetween 1.3 &1.5 USD
No cash profiton 1Gb DDR3,if made at 5xnm and sold atcurrentcontractprices
Slide 15 |
Source: ASML Marketing (2/11)
Efficiency gap between tier-1 and tier-2 foundries
Market entry of two new leading-edgecontenders, i.e. Samsung and GlobalFoundries
/ Slide 16
ASML business update
/ Slide 17
Technology - TWINSCAN NXT
Productivity at specified 175 wafers per hour, 3 nm overlay
FlexRay, programmable illuminator, shipping in highvolume
System production capacity increasing by cycle timeimprovement and cabin conversions
Q4 NXT shipments surpassed Q4 XT immersion for thefirst time
/ Slide 18
Technology - EUV
Two NXE:3100 systems has been shipped, the first one isexposing wafers already at a customers manufacturing site
Four additional NXE:3100 systems are planned to ship innext several months
Orders received for 9 NXE:3300 production systems to bedelivered in 2012
EUV is now confirmed to be the most likely lithographyplatform to continue Moore's law to beyond 2020
Slide 19
EUV lowers overall costs for customer, while includingincreased litho costs
70.82 *
46.44 *
* Source: ASML Strategic Marketing
Patterning steps per device layer
Cost per layer [Euro/Wafer]
Cost per layer [Euro/Wafer]
Costs per layer:
ArFi :
Overall patterning costs (including litho, etching, etc.):70.82 / wafer
Litho costs (2xArFi exposures per layer): 23.36 / wafer
Ratio litho costs/overall patterning costs: 33%
EUV :
Overall patterning costs: 46.44 / wafer
Litho costs (1xEUV exposure per layer): 31.74 / wafer
Ratio litho costs/overall patterning costs: 68%
EUV secures the role oflithography for the next decade
Source power progress 10x per yearSource power [W]60 W/hr still provides challenge1000 250W~105W125wph60wph15mJ/cm2100 ~10W 10mJ/cm25wph10mJ/cm210~1W0.5wph10mJ/cm210.1Q1/2009 Q1/2010 Q1/2011 end/2011 end/2012Aggregate roadmaps of source suppliersTimeline/ Slide 20
Cash returnAnnouncing a share buy back program of up to 1billion executed within a 2year timeframeProposed dividend for 2010 of 0.40 per ordinary share (approx. 175million) vs. 0.20 per sharein 2009/ Slide 21
Outlook and summary/ Slide 22
Q1 2011 outlookNet sales expected around 1.4billionGross margin expected between 44% and 45%R&D is expected at 145millionSG&A is expected at 55millionCurrent backlog plus expected Q1 bookings confirm apotential for more than 5billion of net sales in 2011/ Slide 23
/ Slide 24
Back up
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