ASML Holding N.V. Conference Call Summary Company Overview - **Company**: ASML Holding N.V. (NASDAQ: ASML) - **Event**: UBS 2022 Global TMT Conference - **Date**: December 6, 2022 - **Participants**: Skip Miller (Vice President Investor Relations Worldwide), Francois-Xavier Bouvignies (UBS) Key Points 2023 Outlook - **Macro Uncertainties**: Concerns regarding inflation, recession fears, and geopolitical issues create uncertainty for 2023 [4] - **Backlog**: ASML's backlog is approximately $38 billion, indicating strong demand exceeding supply [4] - **EUV and DUV Shipments**: Plans to ship 375 or more DUV systems, with 25% being immersion systems, and 60 or more EUV systems in 2023 [5] - **Revenue Recognition**: $2.2 billion in revenue from 2022 will carry over into 2023, with potential delays in revenue recognition due to accounting issues [5] Market Dynamics - **Market Share Gains**: ASML is gaining market share despite a projected 20% decline in wafer fab spending [6] - **Long Lead Times**: Customers are encouraged to order machines in anticipation of a potential recovery in demand, as lead times for orders and installation are lengthy [7][8] - **Customer Behavior**: Customers are likely to hold strategic investments in EUV technology despite potential changes in DPV capacity [19] Demand and Supply Insights - **DPV Demand**: Demand remains approximately 40% above planned shipments for DPV systems, with no significant cancellations reported [17][19] - **Logic vs. Memory**: Logic systems account for about 70% of ASML's revenue, driven by higher litho intensity and growth in advanced nodes [22][24] - **EUV Demand Stability**: Demand for EUV systems remains stable, with customers reluctant to change their plans due to the strategic nature of technology transitions [26] China and Export Controls - **Export Controls**: ASML cannot ship EUV systems to China, but DUV systems continue to be shipped without significant impact on demand [13][14] - **Potential Indirect Impact**: 5% of ASML's backlog may be indirectly affected by Chinese customers' inability to secure non-litho equipment [14] Installed Base Management - **Service and Upgrade Revenue**: The installed base business is expected to grow, driven by service revenue and potential upgrades as utilization levels may decrease [35][36] Long-Term Growth Drivers - **Technological Sovereignty**: Increased government initiatives to onshore semiconductor manufacturing may create inefficiencies but also drive demand [39][40] - **Intel's Role**: Intel is a critical customer, and its success is important for ASML's growth, although the overall demand is driven by end markets rather than specific customers [42][43] Future Projections - **Incremental Revenue Targets**: ASML has increased its revenue targets, with significant growth expected from mature nodes and advanced logic markets [46][48] - **High-NA Technology**: High-NA machines are expected to start shipping in volume by 2025-2026, with ongoing research into future technologies beyond High-NA [56][59] Financial Performance - **ASP and Margins**: New models are expected to improve average selling prices (ASP) and margins, with the potential for significant increases in revenue from upcoming product launches [61][62] Conclusion ASML is positioned for growth in 2023 and beyond, driven by strong demand for its EUV and DUV systems, strategic customer investments, and favorable market dynamics despite macroeconomic uncertainties. The company is actively managing its backlog and exploring opportunities for revenue recognition improvements while preparing for future technological advancements.

Exhibit 99.3 | --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------|-------|-------|-------|-------|-------| | Business model and capital allocation strategy | | | | | | | Roger Dassen Executive Vice President & Chief Financial Officer | | | | | | | Investor Day Veldhoven | | | | | | | | | | | | | Business model and capital allocation strategy | --- | --- | --- | |----------|---------------------------------|-------------------------------------------------- ...

ASML Holding N.V. (NASDAQ:ASML) Q3 2022 Earnings Conference Call October 19, 2022 9:00 AM ET Company Participants Skip Miller - Vice President, Investor Relations Peter Wennink - Chief Executive Officer Roger Dassen - Chief Financial Officer Conference Call Participants FX Bouvignies - UBS Joe Quatrochi - Wells Fargo Amit Harchandani - Citi Alexander Duval - Goldman Sachs Didier Scemama - Bank of America Mehdi Hosseini - SIG Sandeep Deshpande - JPMorgan Aleksander Peterc - Societe Generale Pierre Ferragu - ...

ASML Holding N.V. Conference Call Summary Company Overview - **Company**: ASML Holding N.V. (NASDAQ: ASML) - **Event**: Citi 2022 Global Technology Conference - **Date**: September 8, 2022 Key Points Industry Dynamics - **Current State of Business**: Demand remains significantly above supply, with expectations of 10% revenue growth for the year despite supply chain challenges [4][27] - **Supply Chain Challenges**: Initial issues with chip supply have been resolved, but broader component-level challenges persist [6][7][12] - **Delayed Revenue**: €2.8 billion of revenue has been deferred into next year due to fast shipments, up from €1 billion earlier in the year [4][27] Demand Insights - **Memory Market**: Despite reports of reduced CapEx from memory customers, ASML has not seen a change in demand, attributed to long lead times for lithography tools [14][15][17] - **Logic Demand**: Mixed signals exist, with strong demand in high-performance computing and automotive sectors, while consumer electronics show weakness [22][23] - **Backlog and Bookings**: ASML reported a record backlog of over €33 billion, indicating strong order flow and healthy bookings expected for Q3 and Q4 [25][26] Capacity and Growth Projections - **Future Capacity Plans**: Plans to increase EUV units to over 60 and Deep-UV units to over 375 next year, with expectations for continued double-digit volume growth [26][28] - **Long-term Demand Drivers**: Factors such as digital transformation, energy efficiency, and government initiatives (e.g., CHIPS Act) are expected to drive demand beyond 2023 [43][46] Financial Considerations - **Gross Margin Trends**: Gross margins have been impacted by inflation, with adjustments made from a target of 53% down to 49%-50% for the year [61][62] - **Inflation Impact**: Significant increases in freight and labor costs have affected margins, with discussions ongoing with customers to share these costs [62] Technology Transitions - **Gate-All-Around Technology**: Expected to enhance control over smaller features, continuing the trend of Moore's Law and increasing litho intensity [51][52] - **Increased Die Sizes**: Larger die sizes are anticipated to drive wafer demand, contributing to ASML's revenue growth [56] Regional Insights - **China Market**: Demand for trailing-edge technology remains strong in China, despite reports of declining utilization rates in foundries [36][39] Additional Insights - **Fast Shipments**: A strategy to reduce cycle time in production, allowing for quicker delivery to customers, though revenue recognition may be delayed [31][34] - **Talent Challenges**: Ongoing pressure on talent acquisition as the supply chain ramps up production capacity [12][13] This summary encapsulates the key insights and dynamics discussed during the ASML conference call, highlighting the company's current position, future outlook, and the broader industry context.

ASML Holding NV (NASDAQ:ASML) Q2 2022 Results Conference Call July 20, 2022 9:00 AM ET Company Participants Skip Miller - VP, IR Peter Wennink - CEO Roger Dassen - CFO Conference Call Participants Joe Quatrochi - Wells Fargo Mehdi Hosseini - SIG Francois Bouvignies - UBS Alexander Duval - Goldman Sachs Aleksander Peterc - Societe Generale Didier Scemama - Bank of America Krish Sankar - Cowen and Co. Adithya Metuku - Credit Suisse C.J. Muse - Evercore ISI Operator Thank you for standing by. Welcome to the AS ...

Summary of ASML Holding N.V. Conference Call Company Overview - **Company**: ASML Holding N.V. (NASDAQ: ASML) - **Industry**: Semiconductor Equipment Manufacturing - **Event**: Goldman Sachs Global Semiconductor Virtual Conference - **Date**: June 14, 2022 Key Points Importance of EUV Technology - EUV (Extreme Ultraviolet Lithography) is crucial for producing advanced chips, allowing for smaller feature sizes due to a wavelength reduction from 193 nanometers to 13.5 nanometers [3][4] - The adoption of EUV technology has accelerated significantly over the past two to three years, driven by customer demand for advanced applications such as AI and 5G [3][6] Production Capacity Expansion - ASML is examining the feasibility of expanding EUV production capacity to 90 units by 2025, up from a previous estimate of 70 units [4][5] - The demand for EUV tools is expected to be structurally robust, driven by digitalization trends and the need for advanced chips [5][7] Demand Drivers - The demand for EUV is being fueled by applications requiring high-performance computing, AI, and 5G technologies [6][9] - Customers are increasingly focused on improving energy performance and reducing power consumption, which necessitates larger chips and more advanced manufacturing tools [7][9] Customer Insights and Roadmaps - Key customers are under pressure to secure capacity, with a clear roadmap for the next 10-15 years focusing on transistor structure and technology advancements [13][14] - EUV adoption in memory applications has exceeded expectations, with significant interest from DRAM customers [14][32] Pricing and Profitability - ASML has been able to increase the average selling prices (ASPs) of EUV tools in correlation with productivity improvements [15][16] - The company expects continued margin improvement as productivity increases and costs decrease over time [21][22] Challenges and Bottlenecks - The primary challenge in ramping up production is lead time for equipment, which can take over a year to prepare [24] - ASML is taking steps to ensure that lead times for future capacity increases are minimized [24] High NA Technology - ASML has received multiple orders for high NA (Numerical Aperture) machines, which are expected to offer significant benefits in terms of resolution and productivity [25][26] - The introduction of high NA technology is anticipated to follow a smoother path compared to previous technologies due to shared source technology [26][27] Geopolitical Factors - Geopolitical tensions are influencing the semiconductor industry, with increased competition among major players like Samsung, Intel, and TSMC [37][38] - ASML does not foresee EUV technology being available in China in the near future due to current U.S. administration policies [40] Future Outlook - Long-term demand for EUV tools is expected to remain strong, despite potential short-term fluctuations due to macroeconomic factors [10][11] - The company is preparing for potential increases in demand beyond the planned 90 units, with a focus on reducing lead times for future capacity [24][28] Additional Insights - The transition from low NA to high NA tools is not expected to cannibalize demand significantly, as overall market volume is projected to grow [29][30] - Customers are likely to adopt high NA technology gradually, starting with one or two layers in production [35]

ASML Holding N.V. (NASDAQ:ASML) Q1 2022 Earnings Conference Call April 20, 2022 9:00 AM ET Company Participants Skip Miller - Vice President of Investor Relations Peter Wennink - Chief Executive Officer Roger Dassen - Chief Financial Officer Conference Call Participants Joe Quatrochi - Wells Fargo Robert Sanders - Deutsche Bank Didier Scemama - Bank of America Krish Sankar - Cowen & Co. Adithya Metuku - Credit Suisse C.J. Muse – Evercore ISI Aleksander Peterc - Societe Generale Rolf Bulk - New Street Resear ...