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 the month of October 2003
______________________
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 Form 20-F or Form 40-F.
Form 20-F /X/ Form 40-F /_/
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes /_/ No /X/
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b):
Exhibit
-------
99.1 "Q3 2003 Results," presentation dated October 15, 2003.
99.2 "ASML's New Generation TWINSCAN(TM)System Patterns for the 65
nm Node," dated October 21, 2003.
99.3 "Media Advisory: A Very Flat Piece of Glass Enables Atomic-level
Precision in Optics Technology," dated October 27, 2003.
99.4 "Euronext Semiconductor presentation," dated October 30, 2003.
"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 industry
capacity, competitive products and pricing, manufacturing efficiencies, new
product development, ability to enforce patents, the outcome of intellectual
property litigation, availability of raw materials and critical manufacturing
equipment, trade environment, and other risks indicated in filings with the U.S.
Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ASML HOLDING N.V. (Registrant)
Date: November 13, 2003 By: /s/ Peter T.F.M. Wennink
-----------------------------
Peter T.F.M. Wennink
Executive Vice President
and Chief Financial Officer
Exhibit 99.1
------------
Slide 1
-------
A S M L
Q3 2003 Results
October 15, 2003
Slide 2
-------
"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 Q3 2003
o Financial Summary
o Focus Q4 2003
Slide 4
-------
Summary Q3 2003
Slide 5
-------
Summary Q3 2003
o Revenue 370 M Euro, up 12% q-o-q, up 5% y-o-y
o Sold 34 lithography systems: 28 new, 6 refurbished
o Increased average selling price for new systems to MEuro 10.8, up
from MEuro 8.3 in Q2
o Increased backlog to 91 new systems, up 47% q-o-q
o Reduced net loss in lithography operations from M Euro 54 in Q2 to
MEuro 18 this quarter
o Improved gross margin to 25% from 22% in Q2
o Ended quarter with cash position MEuro 1104
o Used MEuro 124 in debt reduction
o Completed divestment of Thermal operations
Slide 6
-------
Financial summary
Slide 7
-------
Total revenues MEuro
-------------------------------------------------------------
1999 2000 2001 2002 2003
-------------------------------------------------------------
Semi-annual - 1180 830 - -
-------------------------------------------------------------
Q1 - - - 179 318
-------------------------------------------------------------
Q2 - - - 609 329
-------------------------------------------------------------
Q3 - - - 351 370
-------------------------------------------------------------
Q4 - - - 820 -
-------------------------------------------------------------
Total 1518 2673 1589 1959 1017
-------------------------------------------------------------
Slide 8
-------
New and used system revenues by region and type for the period from Jan 1
through Sep 28 2003
Region Type
------ ----
Europe 12% Steppers 3%
U.S. 40% Scanners 300 mm Scanners 200 mm
48% 49%
Asia 48%
Slide 9
-------
Overview historical financials consolidated MEuro
---------------------------------------------------------------------------------------------------------------------
QTD* 2002 QTD 2003 YTD** 2002 YTD 2003
ASML
---------------------------------------------------------------------------------------------------------------------
Net sales 352 100.0% 370 100.0% 1139 100.0% 1017 100.0%
---------------------------------------------------------------------------------------------------------------------
Gross profit 93 26.6% 93 25.2% 326 28.6% 219 21.5%
---------------------------------------------------------------------------------------------------------------------
R&D costs 69 19.7% 62 16.7% 214 18.7% 211 20.7%
---------------------------------------------------------------------------------------------------------------------
SG&A costs 70 19.8% 50 13.6% 203 17.8% 166 16.3%
---------------------------------------------------------------------------------------------------------------------
Restructuring expenses - 0.0% - 0.0% 24 2.4%
---------------------------------------------------------------------------------------------------------------------
Operating income (loss) from continuing
operations (46) (13.0)% (19) (5.1)% (90) (7.9)% (183) (18.0)%
---------------------------------------------------------------------------------------------------------------------
Net income (loss) from cont. ops. (36) (10.1)% (18) (4.7)% (82) (7.2)% (140) (13.8)%
---------------------------------------------------------------------------------------------------------------------
Net income (loss) from discont. ops. (24) (6.9)% (13) (3.5)% (76) (6.7)% (36) (3.5)%
---------------------------------------------------------------------------------------------------------------------
Total net income (loss) (60) (17.1)% (31) (8.2)% (158) (13.9)% (176) (17.3)%
---------------------------------------------------------------------------------------------------------------------
* Quarter-To-Date: three months ended September 28
** Year-To-Date: nine months ended September 28
Prior year financial statements have been restated to reflect the impact of discontinued operations
The above percentages are calculated on amounts in TEuro
Numbers rounded for reader's convenience
Slide 10
--------
Cash flow MEuro
------------------------------------------------------------------------------------------------------------------------
QTD* 2002 QTD 2003 YTD** 2002 YTD 2003
------------------------------------------------------------------------------------------------------------------------
Net income (loss) from cont. ops. (36) (18) (82) (140)
------------------------------------------------------------------------------------------------------------------------
Depreciation and amortization 49 45 132 112
------------------------------------------------------------------------------------------------------------------------
Effects of changes in assets and liabilities (140) (40) (397) 286
------------------------------------------------------------------------------------------------------------------------
Cash flow from operations (127) (13) (347) 258
------------------------------------------------------------------------------------------------------------------------
Cash flow from investing activities (31) (2) (80) (19)
------------------------------------------------------------------------------------------------------------------------
Cash flow from financing activities 1 (125) 21 245
------------------------------------------------------------------------------------------------------------------------
Cash flow from discontinued operations (36) (4) (93) (14)
------------------------------------------------------------------------------------------------------------------------
Effect of changes in exchange rates on cash (1) (2) (2) (35)
------------------------------------------------------------------------------------------------------------------------
Net cash flow (194) (146) (502) 435
------------------------------------------------------------------------------------------------------------------------
* Quarter-To-Date: three months ended September 28
** Year-To-Date: nine months ended September 28
Prior year financial statements have been restated to reflect the impact of discontinued operations
Numbers rounded for reader's convenience
Slide 11
--------
Balance sheet as of September 28, 2003 MEuro
------------------------------------------------------------------------------------------------------
ASSETS Dec 2002 Sep 2003
------------------------------------------------------------------------------------------------------
Cash and cash equivalents 669 20% 1104 35%
------------------------------------------------------------------------------------------------------
Accounts receivable, net 557 17% 301 10%
------------------------------------------------------------------------------------------------------
Inventories, net 730 22% 676 21%
------------------------------------------------------------------------------------------------------
Assets held for sale 106 3% 77 2%
------------------------------------------------------------------------------------------------------
Tax assets 494 15% 384 12%
------------------------------------------------------------------------------------------------------
Other assets 237 7% 219 7%
------------------------------------------------------------------------------------------------------
Property, plant and equipment 495 15% 393 12%
------------------------------------------------------------------------------------------------------
Intangible fixed assets 14 1% 16 1%
------------------------------------------------------------------------------------------------------
TOTAL ASSETS 3302 100% 3170 100%
------------------------------------------------------------------------------------------------------
LIABILITIES and SHAREHOLDERS' EQUITY
------------------------------------------------------------------------------------------------------
Current liabilities 662 20% 570 18%
------------------------------------------------------------------------------------------------------
Tax liability 158 5% 156 5%
------------------------------------------------------------------------------------------------------
Liabilities held for sale 66 2% 58 2%
------------------------------------------------------------------------------------------------------
Long term debts 1100 33% 1243 39%
------------------------------------------------------------------------------------------------------
Shareholders equity 1316 40% 1143 36%
------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 3302 100% 3170 100%
------------------------------------------------------------------------------------------------------
Prior year financial statements have been restated to reflect the impact of discontinued operations
Numbers rounded for reader's convenience
Slide 12
--------
Backlog: litho unit vs. value
Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02
--------------------------------------------------------------------------------------------
Backlog Units 111 109 117 134 144 160 135
--------------------------------------------------------------------------------------------
Backlog Value* (MEuro) 1141 1150 1215 1294 1444 1570 1350
--------------------------------------------------------------------------------------------
Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
--------------------------------------------------------------------------------------------
Backlog Units 127 93 76 79 103 99 90
--------------------------------------------------------------------------------------------
Backlog Value* (MEuro) 1270 930 760 790 1030 1010 909
--------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03
--------------------------------------------------------------------------------------------
Backlog Units 87 81 73 62 68 75 91
--------------------------------------------------------------------------------------------
Backlog Value* (MEuro) 870 750 671 678 694 732 859
--------------------------------------------------------------------------------------------
* Total new and used systems
Slide 13
--------
Backlog lithography per September 28, 2003
Total value MEuro 859
Value per type
--------------
Scanners 200 mm Scanners 300 mm
30% 70%
Value per technology
--------------------
248 nm 193 nm 157 nm 365nm >365 nm
47% 42% 3% 7% 1%
Value per region
----------------
China Singapore U.S. Taiwan Europe Korea Japan
8% 8% 24% 13% 16% 29% 2%
Value per end-use
-----------------
Foundry Memory MPU/MCU Logic R&D
23% 43% 17% 8% 9%
Slide 14
--------
Backlog as of September 28, 2003
New Systems Used Systems Total Backlog
Backlog Backlog
------------------------------------------------------------------------------
Units 80 11 91
------------------------------------------------------------------------------
Value MEuro 817 MEuro 42 MEuro 859
------------------------------------------------------------------------------
ASP MEuro 10.2 MEuro 3.8 MEuro 9.4
------------------------------------------------------------------------------
Numbers rounded for reader's convenience
Slide 15
--------
Focus Q4 2003
Slide 16
--------
Focus Q4 2003
o Continue to improve financial position
o Continue to reduce operational costs and Cost of Goods
o Generate cash
o Pursue aggressive new product introductions
o Strengthen relationship with existing customers
o Build on a leadership position
Slide 17
--------
A S M L
Commitment
Exhibit 99.2
------------
ASML's New Generation TWINSCAN(TM) System Patterns for the 65 nm Node
Veldhoven, the Netherlands - October 21, 2003 - ASML Holding NV (ASML) today
introduced the new generation of its TWINSCAN(TM) platform -- TWINSCAN XT:1250
-- a 0.85 NA, 193 nm volume production lithography scanner that extends
imaging to the 65 nm node on both 200 mm and 300 mm wafers. ASML has already
booked several customer orders for the XT:1250 with initial deliveries
scheduled for the second quarter of 2004.
"ASML's commitment to customers drives the functionality and design of the
TWINSCAN XT:1250. After conducting a global survey, we concluded that
chipmakers wanted a tool that cost-effectively manufactures smaller, faster
chips and maximizes customer investment in existing 193 nm infrastructure,"
said Doug Dunn, president and CEO, ASML. "TWINSCAN XT:1250 achieves this
through its extendibility to the 65 nm node, its availability in either 200 mm
or 300 mm models and its modular design."
The greatest challenges in manufacturing faster chips is printing the
incredibly small - sub-micron - circuit features in precise alignment -
measured in nanometers - with as many as two-dozen separate layers. The
XT:1250 patterns those minute features accurately, based on the stability and
reliability of the proven TWINSCAN platform.
The XT:1250 features Ultra-k1(TM), a hardware and software portfolio that
extends the capabilities of 193 systems. This package of proprietary products
gives chipmakers the ability to continue to shrink circuit features, ensures
high die yields and maximizes bottom-line return. The Ultra-k1 portfolio
dramatically improves process latitude, depth of focus and critical dimension
(CD) control.
To provide chipmakers with highest value of ownership, ASML reduced the
XT:1250 footprint by 25 percent. This was achieved by placing components from
the original system into redesigned, compact support modules that can be
located in the sub-fab. Additionally, all TWINSCAN systems benefit from a 50
percent reduction in specified installation facility requirements, such as
power consumption, process cooling water, clean dry air and exhaust flow.
About ASML
ASML is the world's leading provider of lithography systems for the
semiconductor industry, manufacturing complex machines that are critical to
the production of integrated circuits or chips. Headquartered in Veldhoven,
the Netherlands, ASML is traded on Euronext Amsterdam and NASDAQ under the
symbol ASML.
ASML
Tom McGuire
Vice President Communications
corpcom@asml.com
tel: +31.40.268.5758
fax: +31.40.268.3655
ASML
Elizabeth Kitchener
Director Corporate Communications
corpcom@asml.com
+31.40.268.2602
+31.40.268.3655
ASML
Doug Marsh
Vice President Institutional Investor Relations U.S.
doug.marsh@asml.com
+1.480.383.4006
+1.480.383.3976
ASML
Craig DeYoung
Director Investor Relations
craig.deyoung@asml.com
+31.40.268.3938
+31.40.268.3655
Exhibit 99.3
------------
Media Advisory: A Very Flat Piece of Glass Enables Atomic-level Precision in
Optics Technology
VELDHOVEN, the Netherlands, October 27, 2003 - To the casual observer, it
looks like a round piece of glass in a metal holder, a bit larger than a
hockey puck. However, the new PerfectWave(TM) metrology standard from ASML
Optics enables reliable measurement of dimensions approaching the atomic
scale.
Producers of semiconductors, nanotechnology devices, advanced optics and other
technologies are constantly shrinking the features of their products to
manufacture smaller, faster ICs. Today's silicon chips have features as small
as 90 nanometers - less than 1000 atoms across - and 50 nanometer features are
just a few years away. The lenses used to print these features have to be
smoothed and shaped to even smaller tolerances. Engineers and scientists are
finding that traditional measurement systems (based on interferometer
techniques) are unable to keep up with advancing technology.
ASML's new PerfectWave metrology standard helps solve this problem, because it
is almost incomprehensibly flat - variation is just 1 nanometer, or about 10
atomic layers, across its 4-inch diameter. This consistency provides a new
"gold standard" for calibration of advanced interferometer measurement
systems, enabling a 5x increase in their accuracy.
The PerfectWave metrology standard is the first commercial product from ASML
Optics. Founded in 2001, ASML Optics' depth of experience comes from the
former Tinsley Laboratories and Perkin-Elmer Optics Group and includes
development of sophisticated optics for the Hubble Space Telescope and
Micralign and Micrascan, the semiconductor industry's first mask projection
scanners.
"There are less than five optics shops in the world with our extreme-precision
optical capability and capacity. ASML recently decided to make these our
abilities available outside the company," said Thomas Polzer, managing
director, ASML Optics. "With our expertise and resources, we can manufacture
the full range of optics - from leading edge to standard - and introduce a
level of precision and accuracy that has not existed before in semiconductor
metrology. Additionally, the PerfectWave metrology standard will also enable
other industries to measure more accurately, a vital capability in the
up-coming era of nanotechnology applications."
About ASML
ASML is the world's leading provider of lithography systems for the
semiconductor industry, manufacturing complex machines that are critical to
the production of integrated circuits or chips. Headquartered in Veldhoven,
the Netherlands, ASML is traded on Euronext Amsterdam and NASDAQ under the
symbol ASML.
ASML
Elizabeth Kitchener
Director Corporate Communications
corpcom@asml.com
+31.40.268.2602
+31.40.268.3655
Exhibit 99.4
------------
Slide 1
-------
A S M L
Rob van Vliet
Investor Relations Manager
Euronext Semiconductor presentation
October 30, 2003 - Amsterdam
Slide 2
-------
"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 Q3 2003 Overview
o Market Status
o Financials
o Focus Q4 2003
Slide 4
-------
Q3 2003 Overview
o Revenue 370 MEuro, up 12% q-o-q, up 5% y-o-y
o Sold 34 lithography systems: 28 new, 6 refurbished
o Increased average selling price for new systems to MEuro 10.8, up
from MEuro 8.3 in Q2
o Increased backlog to 91 new systems, up 47% q-o-q
o Reduced net loss in lithography operations from MEuro 54 in Q2 to
MEuro 18 this quarter
o Improved gross margin to 25% from 22% in Q2
o Ended quarter with cash position MEuro 1104
o Used MEuro 124 in debt reduction
o Completed divestment of Thermal operations
Slide 5
-------
Market Status
Slide 6
-------
Q3 2003, the changing environment
- global effects
o Stronger economy
o Early signs of economic stabilization in Europe
o Low supply chain inventories
o Improving seasonal demand
o Improved fundamentals within global semiconductor industry
Slide 7
-------
Global GDP Growth, 2000-2004
---------------------------------------------------------------------
2000 2001 2002 2003F 2004F
---------------------------------------------------------------------
Real GDP Growth (Percent) +4.0 +1.3 +2.0 +2.2 +3.3
---------------------------------------------------------------------
Source: Gartner Dataquest, 7 Oct. 2003
Slide 8
-------
Q3 2003, the changing environment
- the semiconductor industry
Growth in semi's grew approx. 10% in Q3
o Drivers
o notebook PC's
o cell phones
o broadband
o DVD players
o video games
o FPD's
o digital cameras
Slide 9
-------
Q3 2003, the changing environment
- customer reactions
o Improved confidence with expectations for seasonal strength in Q4
o Inventories in Q3 increased but some believe it is still too low
o Capacity utilization continues to increase with expectations of IC price
firming
o Orders for capital equipment increasing
o Transferring processes to 300mm
o Early stages of 90 nm product transition
Slide 10
--------
Wafer Fab: Overall Industry Utilization
Ratio of Silicon Consumed to Fab Capacity
--------------------------
Leading
Ratio (%) Edge (%)
--------------------------
1Q00 97.76 99.76
--------------------------
2Q00 97.52 99.52
--------------------------
3Q00 99.03 99.63
--------------------------
4Q00 93.22 96.22
--------------------------
1Q01 82.86 86.86
--------------------------
2Q01 71.71 83.71
--------------------------
3Q01 59.65 74.65
--------------------------
4Q01 62.59 80.59
--------------------------
1Q02 71.88 89.88
--------------------------
2Q02 79.07 95.07
--------------------------
3Q02 78.90 92.90
--------------------------
4Q02 74.80 86.30
--------------------------
1Q03 76.41 87.41
--------------------------
2Q03 82.80 90.80
--------------------------
3Q03 86.46 92.96
--------------------------
4Q03 87.77 94.77
--------------------------
1Q04 92.47 96.77
--------------------------
2Q04 93.36 97.66
--------------------------
3Q04 95.43 98.03
--------------------------
4Q04 96.86 98.86
--------------------------
Slide 11
--------
Capital Spending and Equipment Forecasts
Capital Spending Semi Equipment [excl. Test]
[GRAPHIC OMITTED]
Slide 12
--------
Applications Markets: No New "Killer" Application?
[GRAPHIC OMITTED]
3 Phase Recovery Unfolding:
--------------------------
o Digital Cellular (Consumer)
o PCs (Business)
o Broad-based (Economic)
Key Trends:
----------
o Mobile
o Wireless
o Digital Video
o Broadband
o Equipment Convergence
o Device/Package Integration
o Power Consumption
Slide 13
--------
N B T NEXT BIG THING
N M T NEXT MEDIUM THING
NT NEXT THING
Slide 14
--------
Capital Spending as a percentage of
SEMI Revenues
[GRAPHIC OMITTED]
Slide 15
--------
Front End Equipment spending
as a percentage of Capital Spending
[GRAPHIC OMITTED]
Slide 16
--------
Stepper Revenues as a percentage of
Front End Equipment Spending
[GRAPHIC OMITTED]
Slide 17
--------
What if??
o NBT $220B x 25% Capex = $55B
Stepper Market = $5.9B
o NMT $190B x 25% Capex = $47.5B
Stepper Market = $5.1B
o NT $175B x 25% Capex = $43.75B
Stepper Market = $4.7B
Slide 18
--------
TWINSCAN(TM) 300 mm transition
[GRAPHIC OMITTED]
Slide 19
--------
The XT: 1250:
Volume production tool for the 65-nm node
Aimed at the 200-mm and 300-mm markets
[GRAPHIC OMITTED]
Slide 20
--------
Financials Q3 2003
Slide 21
--------
Total revenues MEuro
-------------------------------------------------------------
1999 2000 2001 2002 2003
-------------------------------------------------------------
Semi-annual - 1180 830 - -
-------------------------------------------------------------
Q1 - - - 179 318
-------------------------------------------------------------
Q2 - - - 609 329
-------------------------------------------------------------
Q3 - - - 351 370
-------------------------------------------------------------
Q4 - - - 820 -
-------------------------------------------------------------
Total 1518 2673 1589 1959 1017
-------------------------------------------------------------
Slide 22
--------
Overview historical financials consolidated MEuro
---------------------------------------------------------------------------------------------------------------------
QTD* 2002 QTD 2003 YTD** 2002 YTD 2003
ASML
---------------------------------------------------------------------------------------------------------------------
Net sales 352 100.0% 370 100.0% 1139 100.0% 1017 100.0%
---------------------------------------------------------------------------------------------------------------------
Gross profit 93 26.6% 93 25.2% 326 28.6% 219 21.5%
---------------------------------------------------------------------------------------------------------------------
R&D costs 69 19.7% 62 16.7% 214 18.7% 211 20.7%
---------------------------------------------------------------------------------------------------------------------
SG&A costs 70 19.8% 50 13.6% 203 17.8% 166 16.3%
---------------------------------------------------------------------------------------------------------------------
Restructuring expenses - 0.0% - 0.0% 24 2.4%
---------------------------------------------------------------------------------------------------------------------
Operating income (loss) from continuing
operations (46) (13.0)% (19) (5.1)% (90) (7.9)% (183) (18.0)%
---------------------------------------------------------------------------------------------------------------------
Net income (loss) from cont. ops. (36) (10.1)% (18) (4.7)% (82) (7.2)% (140) (13.8)%
---------------------------------------------------------------------------------------------------------------------
Net income (loss) from discont. ops. (24) (6.9)% (13) (3.5)% (76) (6.7)% (36) (3.5)%
---------------------------------------------------------------------------------------------------------------------
Total net income (loss) (60) (17.1)% (31) (8.2)% (158) (13.9)% (176) (17.3)%
---------------------------------------------------------------------------------------------------------------------
* Quarter-To-Date: three months ended September 28
** Year-To-Date: nine months ended September 28
Prior year financial statements have been restated to reflect the impact of discontinued operations
The above percentages are calculated on amounts in TEuro
Numbers rounded for reader's convenience
Slide 23
--------
Balance sheet as of September 28, 2003 MEuro
------------------------------------------------------------------------------------------------------
ASSETS Dec 2002 Sep 2003
------------------------------------------------------------------------------------------------------
Cash and cash equivalents 669 20% 1104 35%
------------------------------------------------------------------------------------------------------
Accounts receivable, net 557 17% 301 10%
------------------------------------------------------------------------------------------------------
Inventories, net 730 22% 676 21%
------------------------------------------------------------------------------------------------------
Assets held for sale 106 3% 77 2%
------------------------------------------------------------------------------------------------------
Tax assets 494 15% 384 12%
------------------------------------------------------------------------------------------------------
Other assets 237 7% 219 7%
------------------------------------------------------------------------------------------------------
Property, plant and equipment 495 15% 393 12%
------------------------------------------------------------------------------------------------------
Intangible fixed assets 14 1% 16 1%
------------------------------------------------------------------------------------------------------
TOTAL ASSETS 3302 100% 3170 100%
------------------------------------------------------------------------------------------------------
LIABILITIES and SHAREHOLDERS' EQUITY
------------------------------------------------------------------------------------------------------
Current liabilities 662 20% 570 18%
------------------------------------------------------------------------------------------------------
Tax liability 158 5% 156 5%
------------------------------------------------------------------------------------------------------
Liabilities held for sale 66 2% 58 2%
------------------------------------------------------------------------------------------------------
Long term debts 1100 33% 1243 39%
------------------------------------------------------------------------------------------------------
Shareholders equity 1316 40% 1143 36%
------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 3302 100% 3170 100%
------------------------------------------------------------------------------------------------------
Prior year financial statements have been restated to reflect the impact of discontinued operations
Numbers rounded for reader's convenience
Slide 24
--------
Backlog: litho unit vs. value
Jan 02 Feb 02 Mar 02 Apr 02 May 02 Jun 02 Jul 02
------------------------------------------------------------------------------------------------------
Backlog Units 111 109 117 134 144 160 135
------------------------------------------------------------------------------------------------------
Backlog Value* (MEuro) 1141 1150 1215 1294 1444 1570 1350
------------------------------------------------------------------------------------------------------
Aug 02 Sep 02 Oct 02 Nov 02 Dec 02 Jan 03 Feb 03
------------------------------------------------------------------------------------------------------
Backlog Units 127 93 76 79 103 99 90
------------------------------------------------------------------------------------------------------
Backlog Value* (MEuro) 1270 930 760 790 1030 1010 909
------------------------------------------------------------------------------------------------------
Mar 03 Apr 03 May 03 Jun 03 Jul 03 Aug 03 Sep 03
------------------------------------------------------------------------------------------------------
Backlog Units 87 81 73 62 68 75 91**
------------------------------------------------------------------------------------------------------
Backlog Value* (MEuro) 870 750 671 678 694 732 859***
------------------------------------------------------------------------------------------------------
* Total new and used systems
** Comprises 80 units New Systems Backlog and 11 units Used Systems Backlog
*** Comprises MEuro 817 New Systems Backlog and MEuro 42 Used Systems Backlog
Slide 25
--------
Backlog lithography per September 28, 2003
Total value MEuro 859
Value per type
--------------
Scanners 200 mm Scanners 300 mm
30% 70%
Value per technology
--------------------
248 nm 193 nm 157 nm 365nm
47% 42% 3% 8%
Value per region
----------------
China Singapore U.S. Taiwan Europe Korea Japan
8% 8% 24% 13% 16% 29% 2%
Value per end-use
-----------------
Foundry Memory MPU/MCU Logic R&D
23% 43% 17% 8% 9%
Slide 26
--------
Backlog as of September 28, 2003
New Systems Used Systems Total Backlog
Backlog Backlog
------------------------------------------------------------------------------
Units 80 11 91
------------------------------------------------------------------------------
Value MEuro 817 MEuro 42 MEuro 859
------------------------------------------------------------------------------
ASP MEuro 10.2 MEuro 3.8 MEuro 9.4
------------------------------------------------------------------------------
Numbers rounded for reader's convenience
Slide 27
--------
Focus Q4 2003
Slide 28
--------
Focus Q4 2003
o Continue to improve financial position
o Continue to reduce operational costs and Cost of Goods
o Generate cash
o Pursue aggressive new product introductions
o Strengthen relationship with existing customers
o Build on a leadership position
Slide 29
--------
A S M L
Commitment