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ASML Holding Management Presents At Deutsche Bank 2012 Technology Conference (Transcript)

ASML Holding NV (ASML)

Deutsche Bank 2012 Technology Conference Call

September 11, 2012 7:00 PM ET


Craig DeYoung – VP, IR


Kai Korschelt – Deutsche Bank


Kai Korschelt

Okay. Yeah, welcome everyone. My name is Kai Korschelt. I’m the European Semiconductor Analyst at Deutsche Bank. It’s my pleasure to have Craig DeYoung here, like last year, present to us, and I think Craig is going to give about 10 minutes – 5, 10 minutes presentation and then we’ll do...

Craig DeYoung

10 or 15.

Kai Korschelt

Yeah, okay, 10 or 15.

Craig DeYoung

No, I’ll try to go through it quickly. Part of this presentation is anticipation of your questions as well. So hopefully I’ll get some of those covered, and then Kai and I will talk a little bit afterwards. So appreciate your coming this afternoon. I know you would rather be enjoying the Nevada sunshine, but since there isn’t any.

So here is the obligatory safe harbor statement. Just everything that I speak about of course will be covered by this. So I want to do a brief business summary and I’ll talk to you – give you an update on our co-investment program, which I think all of you are probably familiar with, at least in part; talk about the business environment that we are in today, talk a little bit about our strategy on the product side and then just remind you of our outlook.

So in terms of the business summary, this is a repeat of what you’ve already seen, but I thought it worthwhile to remind you that we did about EUR1.2 billion in sales in the second quarter, kind of a typical quarter relative to the last six or seven or eight. So you’ll see that in a bit. 43% gross margin, operating margin of 27%. We booked just under EUR1 billion in systems and that left us with a backlog of EUR1.5 billion coming out of the quarter. And we generated in the first half about EUR470 million, of which a majority returned to you through a combination of buybacks and dividends in the first half.

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