EX-99 3 q1slides.txt EXHIBIT 99.2 - SLIDE PRESENTATIONS Exhibit 99.2 ------------ Slide 1 ------- [GRAPHIC OMITTED] A S M L Q1 2004 Results April 21, 2004 Slide 2 -------- Safe Harbor "Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995: the matters discussed during this presentation include forward-looking statements that are subject to risks and uncertainties including, but not limited to, economic conditions, product and pricing, manufacturing efficiencies, new products development, ability to enforce patents, availability of raw materials and critical manufacturing equipment, trade environment, and other risks indicated in filings with the U.S. Securities and Exchange Commission. Slide 3 ------- Agenda o Summary Q1 2004 o Financial Summary o Focus Q2 2004 Slide 4 ------- Summary Q1 2004 Slide 5 ------- Summary Q1 2004: good, solid results o Revenue for system sales and service: M Euro 453 o Sold 58 lithography systems: 42 new, 16 refurbished o Increased backlog to 163 systems, up 31% Q-o-Q o Increased backlog ASP for new systems from M Euro 9.2 to M Euro 9.6 Net income: M Euro 21, an increase of 31% Q-o-Q o Improved gross margin to 32.2% from 28.5% in Q4 2003 Slide 6 ------- Financial summary Slide 7 ------- Total revenues M Euro 2000 2001 2002 2003 2004 ------------------------------------------------------------------ Semi-annual 1180 830 - - - ------------------------------------------------------------------ Q1 - - 179 318 453 ------------------------------------------------------------------ Q2 - - 609 329 - ------------------------------------------------------------------ Q3 - - 351 370 - ------------------------------------------------------------------ Q4 - - 820 526 - ------------------------------------------------------------------ Total 2673 1589 1959 1543 - ------------------------------------------------------------------ Slide 8 ------- New and used system revenues by region, type and technology: Q1 2004 Region -------- Asia 69% U.S. 21% Europe 10% Type ------ Scanners 300 mm 56% Scanners 200 mm 40% Steppers 4% Technology -------------- 248 nm 66% 193 nm 20% 365 nm 14% Slide 9 ------- Overview historical financials consolidated M Euro
----------------------------------------------------------------------------------------------------------------------- ASML 2003 FY 2003 Q1 2004 Q1 ----------------------------------------------------------------------------------------------------------------------- Net sales 1,543 100.0% 318 100.0% 453 100.0% Gross profit 369 23.9% 53 16.6% 146 32.2% R&D costs 287 18.6% 76 23.9% 70 15.4% SG&A costs 237(1) 15.4% 67(2) 21.0% 42(3) 9.2% Operating income from continuing operations (155) (10.0)% (90) (28.5)% 34 7.6% Net income from continuing ops. (125) (8.1)% (69) (21.6)% 21 4.5% Net income from discont. ops. (36) (2.3)% (13) (4.2)% 0 0.0% ------------------------------------------------------------------------------------------------------------------------ Total net income (160) (10.4)% (82) (25.8)% 21 4.5% ======================================================================================================================== ______________________ Prior year financial statements have been restated to reflect the impact of discontinued operations (1) SG&A costs include restructuring expenses of M Euro 24 (2) SG&A costs include restructuring expenses of M Euro 6 (3) SG&A costs include a positive adjustment of M Euro 6 for restructuring expenses
Slide 10 -------- Cash flow M Euro
----------------------------------------------------------------------------------------------------------- 2003 FY 2003 Q1 2004 Q1 ----------------------------------------------------------------------------------------------------------- Net income (125) (69) 21 Depreciation and amortization 157 35 26 Effects of changes in assets and liabilities 477 93 62 ----------------------------------------------------------------------------------------------------------- Cash flow from operations 509 59 109 ----------------------------------------------------------------------------------------------------------- Cash flow from investing activities (26) (19) 2 Cash flow from financing activities (68) 0 7 Cash flow from discontinued operations 13 (12) - Effect of changes in exchange rates on cash (69) (8) 6 ----------------------------------------------------------------------------------------------------------- Net cash flow 359 20 124 =========================================================================================================== Prior year financial statements have been restated to reflect the impact of discontinued operations
Slide 11 -------- Balance sheet as of Mar 28, 2004 M Euro
------------------------------------------------------------------------------------------------------ ASSETS Dec 2003 Mar 2004 ------------------------------------------------------------------------------------------------------ Cash and cash equivalents 1,028 35.8% 1,152 38.2% Accounts receivable, net 314 10.9% 317 10.5% Inventories, net 595 20.8% 599 19.9% Other assets 193 6.7% 225 7.5% Tax assets 375 13.1% 380 12.6% Fixed assets 363 12.7% 341 11.3% ------------------------------------------------------------------------------------------------------ TOTAL ASSETS 2,868 100% 3,014 100.0% ====================================================================================================== LIABILITIES and SHAREHOLDERS' EQUITY Current liabilities 676 23.5% 765 25.4% Tax liability 180 6.3% 180 6.0% Long term debts 871 30.4% 890 29.5% Shareholders' equity 1,141 39.8% 1,179 39.1% ------------------------------------------------------------------------------------------------------ TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 2,868 100% 3,014 100.0% ====================================================================================================== Prior year financial statements have been restated to reflect the impact of discontinued operations. Numbers have been rounded for readers' convenience
Slide 12 --------
Backlog: litho units vs. value Jan 02 Mar 02 Jun 02 Sep 02 Dec 02 Mar 03 Jun 03 Sep 03 Dec 03 Mar 04 Backlog units 111 117 160 93 103 87 62 91 124 163 Backlog value (MEuro) 1141 1215 1570 930 1030 870 678 859 993 1357
Slide 13 -------- Backlog lithography per March 28, 2004 Total value M Euro 1,357 Value per type -------------- Scanners 300 mm 64% Scanners 200 mm 33% Steppers 3% Value per technology -------------------- 248 nm 52% 193 nm 33% 365 nm 15% Value per region ---------------- Taiwan 17% Korea 19% U.S. 24% Singapore 16% China 13% Europe 11% Value per end-use ----------------- Foundry 46% Memory 30% IDM 24% Slide 14 -------- Backlog as of March 28, 2004 ---------------------------------------------------------------------- New Systems Used Systems Total Backlog Backlog Backlog ---------------------------------------------------------------------- Units 135 28 163 ---------------------------------------------------------------------- Value M Euro 1,293 M Euro 64 M Euro 1,357 ---------------------------------------------------------------------- ASP M Euro 9.6 M Euro 2.3 M Euro 8.3 ---------------------------------------------------------------------- Numbers have been rounded for readers' convenience Slide 15 -------- Focus Q2 2004 Slide 16 -------- Focus Q2 2004 o Continue to reduce Cost of Goods and contain operational costs o Improve gross margin by 2% Q-o-Q o Deliver first TWINSCAN XT:1250 o Continue to focus on Value of Ownership with customers o Maintain control of working capital o Build on leadership position Slide 17 -------- [GRAPHIC OMITTED] ASML Commitment