EX-99 5 asm.txt EX 99.3 Exhibit 99.3 SLIDE 1 [ASML GRAPHIC OMITTED] Q1 2003 Results Veldhoven, April 16, 2003 SLIDE 2 Agenda o Highlights Q1 2003 vs Q1 2002 o Financial Summary o Focus Q2 2003 SLIDE 3 Highlights Q1 2003 vs Q1 2002 SLIDE 4 Highlights Q1 2003 vs Q1 2002 o Sale of 33 lithography systems, up from 13 o Increase in average selling price to MEuro 9.2, up 10% o Net loss of MEuro 82 narrowed from net loss of MEuro 108 o Cash generation of MEuro 40 in Lithography operation o Continued improvements in working capital of MEuro 92 o Pre-tax loss from discontinued operations narrowed to MEuro 22 from MEuro 33, including MEuro 11 one-time charge o Increased worldwide market share according to analysts SLIDE 5 Financial summary SLIDE 6 Total revenues MEuro ------------------------------------------------------------------------------- 1999 2000 2001 2002 2003 ---- ---- ---- ---- ---- Total revenues 1518 2673 1589 1959 -- Semi-annual revenues -- 1180 830 -- -- Q1 revenues -- -- -- 179 318 Q2 revenues -- -- -- 609 -- Q3 revenues -- -- -- 351 -- Q4 revenues -- -- -- 820 -- -------------------------------------------------------------------------------- Prior year financial statements have been restated to reflect the impact of discontinued operations SLIDE 7 System revenues by region and type Region Type ------ ---- Asia 59% Scanners 300m 56% U.S. 41% Scanners 200m 41% Steppers 3% SLIDE 8 Overview historical financials consolidated MEuro
------------------------------------------------------------------- --------------------------- --------------------------- 2002 FY 2002 Q1 2003 Q1 ASML ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- Net sales 1,959 100.0% 179 100.0% 318 100.0% ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- Gross profit 468 23.9% 17 9.6% 53 16.6% ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- R&D costs 299 15.3% 69 38.8% 76 23.9% ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- SG&A costs 261 13.3% 61 34.2% 61 19.2% ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- Restructuring expenses 2 0.1% 6 2.0% ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- Operating income from continuing operations (94) (4.8)% (113) (63.4)% (90) (28.5)% ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- Net income from continuing operations (88) (4.5) % (86) (48.1)% (69) (21.6)% ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- Net income from discontued operations (120) (6.1) % (22) (12.1)% (13) (4.2)% ----------------------------------------------------- ------------- ------------- ------------- ------------- ------------- Total net income (208) (10.6) % (108) (60.2)% (82) (25.8)% ----------------------------------------------------- ------------- ------------- ------------- ------------- -------------
Prior year financial statements have been restated to reflect the impact of discontinued operations SLIDE 9 Cash flow MEuro
---------------------------------------------------------------------------------------------------------------------- 2002 FY 2002 Q1 2003 Q1 ---------------------------------------------------------------------------------------------------------------------- Net income (88) (86) (69) ---------------------------------------------------------------------------------------------------------------------- Depreciation and amortization 187 41 35 ---------------------------------------------------------------------------------------------------------------------- Effects of changes in assets and liabilities (153) (131) 93 ---------------------------------------------------------------------------------------------------------------------- Cash flow from operations (54) (176) 59 ---------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------- Cash flow from investing and financing activities (59) (18) (19) ---------------------------------------------------------------------------------------------------------------------- Cash flow from discontinued operations (127) (7) (12) ---------------------------------------------------------------------------------------------------------------------- Effect of changes in exchange rates on cash (2) 2 (8) ---------------------------------------------------------------------------------------------------------------------- Net cash flow (242) (199) 20 ----------------------------------------------------------------------------------------------------------------------
Prior year financial statements have been restated to reflect the impact of discontinued operations SLIDE 10 Balance sheet as of March 30, 2003 MEuro
--------------------------------------------------------------------------------------- ---------------------------------- ASSETS Dec 2002 Mar 2003 --------------------------------------------------------------------- ----------------- ----------------- ---------------- Cash and cash equivalents 669 20% 688 21% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Accounts receivable, net 557 17% 435 13% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Inventories, net 730 22% 779 24% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Assets from discontinued operations 106 3% 93 3% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Tax assets 494 15% 522 16% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Other assets 237 7% 235 7% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Property, plant and equipment 495 15% 476 15% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Intangible fixed assets 14 1% 14 1% --------------------------------------------------------------------- ----------------- ----------------- ---------------- TOTAL ASSETS 3302 100% 3242 100% --------------------------------------------------------------------- ----------------- ----------------- ---------------- --------------------------------------------------------------------- ----------------- ----------------- ---------------- LIABILITIES and SHAREHOLDERS' EQUITY --------------------------------------------------------------------- ----------------- ----------------- ---------------- Current liabilities 662 20% 728 22% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Tax liability 158 5% 155 5% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Liabilities from discontinued operations 66 2% 54 2% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Long term debts 1100 33% 1072 33% --------------------------------------------------------------------- ----------------- ----------------- ---------------- Shareholders' equity 1316 40% 1233 38% --------------------------------------------------------------------- ----------------- ----------------- ---------------- TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 3302 100% 3242 100% --------------------------------------------------------------------- ----------------- ----------------- ----------------
Prior year financial statements have been restated to reflect the impact of discontinued operations SLIDE 11 Backlog: litho unit vs. value Backlog Value Jan 01 275 1863 Feb 01 269 1848 Mar 01 240 1757 Apr 01 191 1566 May 01 196 1591 Jun 01 188 1401 Jul 01 223 1752 Aug 01 216 1395 Sep 01 205 1577 Oct 01 196 1548 Nov 01 152 1118 Dec 01 117 1161 Jan 02 111 1141 Feb 02 109 1150 Mar 02 117 1215 Apr 02 134 1294 May 02 144 1444 Jun 02 160 1570 Jul 02 135 1350 Aug 02 127 1270 Sep 02 93 930 Oct 02 76 760 Nov 02 79 790 Dec 02 103 1030 Jan 03 99 1010 Feb 03 90 909 Mar 03 87 870 SLIDE 12 Backlog lithography per March 30, 2003 Total value MEuro 870
Value per type Value per technology -------------- -------------------- Scanners 300 mm 55% 248 nm 47% Scanners 200 mm 45% 193 nm 33% 157 nm 12% 365 nm 8% Value per region Value per end-use ---------------- ----------------- U.S. 42% Memory 34% Europe 19% Logic 24% Korea 16% Foundry 23% Taiwan 11% MPU/MCU 11% Singapore 8% R&D 7% China 4% Other 1%
SLIDE 13 Focus Q2 2003 SLIDE 14 Focus Q2 2003 o Reduced inventory and receivables o Continued cash generation o Successful roll-out of industry's first full-field 157 nm step and scan tool: Micrascan(TM) VII o Successful introduction of high NA 193 nm TWINSCAN(TM) AT:1200 product o Provide dedicated support for customers' Value of Ownership needs SLIDE 15 (graphic omitted) ASML Commitment