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© 2009 ASM
Presentation title: 31pt Arial Bold, white, center
Presentation subtitle:
24pt Arial Bold, white,
center
Release date: April 2006
For questions, please contact: Central Marketing
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Proprietary Information
Investor presentation
24 April 2013
© 2009 ASM
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Proprietary Information 2 Monday, April 29, 2013 2
Safe Harbor Statements
All matters discussed in this business and strategy update, except for any historical data, are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These include, but are not limited to, economic conditions and trends in the semiconductor industry generally and the timing of the industry cycles specifically, currency fluctuations, the success of restructurings, the timing of significant orders, market acceptance of new products, competitive factors, litigation involving intellectual property, shareholder and other issues, commercial and economic disruption due to natural disasters, terrorist activity, armed conflict or political instability, epidemics and other risks indicated in the Company's filings from time to time with the U.S. Securities and Exchange Commission. All statements are made as of the date provided and we assume no obligation nor intend to update or revise any forward-looking statements to reflect future developments or circumstances.
© 2009 ASM
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Proprietary Information 3 Monday, April 29, 2013 3
Investment Highlights
Strong offering in Front End equipment
Deposition represents a US$ 7.5bn market, growing to US$ 10.8bn in 2016 (VLSI Research)
Leading position in our target market segments
Technology enabling new materials and new device integration roadmaps
Fast growth ALD / PEALD markets
Enabling technology for 3D transistor formation (FinFet)
Mobile devices for high performance and / or lower power
Customer expansion from Logic to Foundries and Memory
Attractive value proposition
Strong growth opportunities
Consistent profitable Front End operations
Front End Gross Margin in line with peers
Strongly improved balance sheet
40% stake in ASMPT
Dividend of Euro 0,50/share proposal to AGM May 2013
© 2009 ASM
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Proprietary Information 4 Monday, April 29, 2013
Semiconductor Market Through 2017 PC versus smartphones
Source: Gartner (March 2013), ASM
Source: Gartner (March 2011), ASM
0
20
40
60
80
100
120
140
160
2009 2010 2011 2012 2013 2014 2015 2016 2017
Ultramobile PC
Notebook PC
Desk-based PC
Utility/Basic Media Tablet
Premium Media Tablet
Premium Smartphone
Utility/Basic Smartphone
Traditional Mobile Phone
Semiconductor Sales1 ($B)
0
20
40
60
80
100
120
140
160
180
2009 2010 2011 2012 2013 2014 2015 2016 2017
PC
Smartphone
Media Tablet
Traditional Phone
Semiconductor Dollars Per Unit1 ($)
1 - excludes SSD / ODD / RDD / Ethernet / graphics cards
© 2009 ASM
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Proprietary Information 5 Monday, April 29, 2013 5
Global Semiconductor Equipment Market
Test
$ 3.7 B
Etch & Clean
$ 6.8 B
Assembly
$ 4.2 B
Deposition
$ 7.5 B
Lithography
$ 8.4 B
Other Wafer
Process
$ 7.5 B
2012 ($ 38.1 Billion)
Source: VLSI Research Inc., January, 2013
© 2009 ASM
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Proprietary Information 6 Monday, April 29, 2013 6
ASM Front-end Markets
6
Source: VLSI Research January, 2013
Key Growth Drivers:
Spending result of need to
advance towards 20/14nm and
beyond and by capacity
increases
Logic and Foundry spending to
remain healthy in 2013
ASM’s leading ALD technology
required for miniaturization of
chips
Critical in enabling processing
power in mobile devices while
improving energy efficiency
0
1000
2000
3000
4000
5000
6000
7000
2007 2010 2012 2014 2016
Diffusion/Furnace
Epitaxy
PECVD
ALD
$M ASM addressable IC Deposition market by Sub-Segment
© 2009 ASM
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0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
2008 2009 2010 2011 2012 2013 2014 2015 2016
$M
Wafer Fab Equipment by Node
14 nm & Below
22 nm
32 nm
45 nm
65 nm
90 nm & Above
7
Key market Drivers
Wafer Fab Equipment Forecast by node
Opportunity for WFE share increase
Gartner Dec, 2012
• Share of 22nm and 14nm estimated to grow from 2013 with expected increased demand for ALD, PEALD
Co
nfi
de
nti
al
an
d
Pro
pri
eta
ry
Inf
or
ma
tio
n
© 2009 ASM
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PECVD
8
ASM Products – Front-end
Strong IP protected portfolio
ALD and PEALD
• ALD solution (Hafnium oxide)
• PEALD Low temp dielectrics
Market Requirements: 32nm→22nm →14nm and beyond
Process Application
Diffusion Furnace
• Unique “dual reactor dual boat”
design
Epitaxy
• Epitaxial films for both analog
devices as well as NMOS/PMOS
• Extreme low-k films
• ALD key for High-k Metal Gate
technology
• 3D FinFET requires more
conformal layers, strength of ALD
• SDDP-application of PE-ALD
• Advanced batch processing
• Smallest footprint per reactor
• Lowest Cost of Ownership
• Thick Epi layers for power
devices
• Strained Epi films for CMOS
• Advanced intermetal dielectric
film
ASM Relative Positioning
#1 in the served ALD market
Qualified by nearly all Logic
manufacturers
Strengthening inroads into
Memory with PEALD
Leading IC manufacturers are
customers
ASM one of only two top
vendors
ASM one of only two top
vendors in PE-CVD Low-k
Proprietary Information
© 2009 ASM
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9
ASM Products – Front-end
Proprietary Information
Dragon® XP8
PECVD
Eagle® XP8
PEALD
IntrepidTM XP
Epitaxy
Two new high productivity
platforms have been
introduced in 2012
High throughput, low CoO single wafer deposition tool
High productivity XP cluster with 4 Epi reactors
© 2009 ASM
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Proprietary Information 10 10
Growing Wallet Share With Top Clients
ASMI Revenue % Key Developments:
Diversification of customer
base from Logic to Memory
and Foundries (recently
driven by ALD/PEALD)
Momentum Asia growing
© 2009 ASM
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Proprietary Information 11 Monday, April 29, 2013 11
ASMI Front-end’s Competitive Advantages
ASMI Front-end started ALD technology in 1999 and has a
strong time advantage over competition. The ALD (and PEALD) technology is strongly patented
ALD is now mainstream and there is no strong competition until now
Further miniaturization will require more and more ALD/PEALD applications.
ASMI is one of the two leading suppliers of Low-k films. ASMI is supplier to a few of the worlds leading IC manufacturers
XP8, 8 PEALD or PECVD reactor platform for higher productivity
In the EPI market ASMI is one of only two global suppliers. Recent successes with applications for the analog/power market
Intrepid™ XP, 4 Epi reactor cluster system for higher productivity
ASM’s Vertical Furnace is the only dual reactor, dual boat
configuration available in the market providing lowest CoO and
footprint per reactor. Top IC manufacturers are customers
© 2009 ASM
Front-End Operations, should not be moved or changed. Arial Regular, 7pt white, center
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Proprietary Information 12 Monday, April 29, 2013 12
What Has Changed – Front-end
Manufacturing consolidated into 1 location in Singapore since
2010
Adjacent to ASMPT facility
Significantly streamlined R&D, Product Management and G&A
functions
New cost cutting measures recently undertaken leading towards
further improved margins
Further restructuring
Further savings opportunities in local sourcing and supply chain
© 2009 ASM
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Proprietary Information 13 Monday, April 29, 2013 13
ASMPT markets
13
IC Assembly and Packaging Market
Source: IC equipment VLSI Research January, 2013
$M
IC Dicing
Key Growth Drivers:
For IC equipment
Increasing unit volume
Increasing share of the Asia Pacific
region benefiting regional ties of
ASMPT
ASM Served
Available Market
IC Equipment
CAGR 2010-2016
1.5%
LED – A High Growth Back End Market Segment
(not equipment) For LED equipment
LEDs provide an energy efficient,
high quality and longer life
alternative to traditional light
sources
LEDs replacing fluorescent lamps
in backlighting of TVs and FPDs
Years of strong growth expected
when LEDs penetrate the large
general illumination market
Source: Morgan Stanley Equity Research. (2013)
$M
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
2009 2010 2011 2012 2013 2014
2011-2014E
CAGR
20%
0
1000
2000
3000
4000
5000
6000
2007 2009 2011 2013 2015
© 2009 ASM
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Proprietary Information 14 Monday, April 29, 2013 14
ASMPT markets (cont’d)
14
Source: ASM SIPLACE Market Intelligence, February 2013
Key Growth Drivers:
For SMT
Improve market position
in SE Asia
Add Low-end tools to
product portfolio
Surface Mount Technology (SMT) market development
© 2009 ASM
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Proprietary Information 15 Monday, April 29, 2013 15
Turnover distribution by products
ASMPT
15
48.0%
15.8%
36.2%
83.2%
16.8%
50.5%
11.7%
37.8%
2012
2010 2011 Back-end EQT
Lead frame
SMT EQT
© 2009 ASM
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Proprietary Information 16 Monday, April 29, 2013 16
ASMPT Products
16
IC manufacturing
• Assembly tools
• Packaging tools
• Inspection tools
IC manufacturing - LED manufacturing - Surface Mount Technology
Market Application
LED manufacturing
• Assembly tools
• Packaging tools
• Testing tools
SMT
• Placement tools
• Die bonding
• Wire bonding
• Moulding
• Trim & Form
• Vision and Inspection
• Sorting
• Pick & Place
ASMPT Relative
Positioning
#1 in the market
Qualified by most IDM’s
and Subcontractors’
Strong local service and
support organization
#1 in the bonding market
Complete manufacturing
tools portfolio
Entered LED market
already in 2006
Strong local service and
support organization
ASMPT #3 vendor
Leading position in High-
end tools
• Die bonding
• Wire bonding
• Moulding
• Trim & Form
• Vision and Inspection
• Sorting
• Testing
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Proprietary Information 17 Monday, April 29, 2013 17
Chip Assembly Solution for Advanced Packages
ASMPT
17
Expanding SMT equipment into non-
traditional placement market
Ideal for WLFO (Wafer Level Fan Out) ,
SiP(System-in-package), LED,
Embedded PCB and flip chips
Enables the combination of flip-chip
and SMT operations in a single pass
Supports large panel areas
Very high production speed and
throughput
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Proprietary Information 18 Monday, April 29, 2013 18
ASMPT’s Competitive Advantages
Back-end industry continues to move to SE Asia/China
ASMPT the only large BE company fully located in SE Asia has the
largest part of its operations in China/Hong Kong
Cost is the most important topic in Back-end.
ASMPT provides the lowest cost solutions to customers.
Increasing focus R&D and new product development
ASMPT has a strong pipeline of new products in for instance flip chip,
TCB, copper wire bonding and ultra high density packages.
LED is a strongly growing market with highest future growth
potential.
ASMPT has the dominant market share in LED assembly equipment
SMT provides further growth opportunities
ASMPT AS is amongst the top three suppliers
© 2009 ASM
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Proprietary Information 19 6 May 29 September 2011
Monday, April 29, 2013 011 19
What Has Been Achieved – ASMPT
ASMPT has broadened its portfolio and expanded into new markets
Continued its #1 position in the Assembly & Packaging market, in IC’s,
LED’s and CMOS image sensors
Profitable leadframe business
SMT improved its market position and profitability in 2012:
Cross selling opportunities, SMT penetrating the Asian market
In-source SMT parts & modules using ASMPT low-cost manufacturing base
and supply chain
ASMI will no longer consolidate ASMPT following the secondary
placement of the 12% stake in ASMPT
© 2009 ASM
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Proprietary Information 20 6 May 29 September 2011
Monday, April 29, 2013 011 20
Response to Challenging Times – ASMPT
Tightly control cost and expenses to cope with the short term challenges
Drive for structural cost reduction
Bring down overhead cost
Raise productivity through innovation and automation
Supplement internal manufacturing with outsourcing
Strike a better balance between fixed and variable manufacturing cost
Efficient management of working capital
Efficient materials planning
Consignment program with suppliers
Efficient payments terms control and collection
Expedite the cost reduction program for all major products
© 2009 ASM
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Proprietary Information
Financial Overview
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Key Highlights – Q1 2013
• Reported revenues down 25% q-o-q and 23% y-o-y
• In FE sales declined with 14% q-o-q and 16% y-o-y
• In BE sales declined with 29% q-o-q and 26% y-o-y
• Q1 Book-to-Bill ratio of 1.3 for Front-end
• Q1 Backlog of € 120m (1.5 X Q1 sales) for Front-end
• EBIT margin of -1% stable compared to Q4 2012 and down 8%
compared to Q1 2012 strongly impacted by lower sales and mix
changes
• Cash flow from operations of € 2m
• Net results of € 1.410m (including gain on sales of PT shares of
€ 1.408m) compared to € -22m in Q4 2012 and € 6m in Q1 2012
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Net Earnings Quarter - Group
reported comparable reported reported
Q1 Q1 Q4 Q1 Q1 '13/ Q1 '13/
€ mill ion 2013 2013 2012 2012 Q4' 12 Q1 '12
Front End 80.0 80.0 93.1 94.8 -14% -16%
Back End 160.3 206.7 226.8 216.2 -9% -4%
Net Sales 240.3 286.7 319.9 311.0 -10% -8%
Gross Margin 68.6 83.1 87.8 96.6 -5% -14%
as % of sales 28.5% 29.0% 27.5% 31.1%
Selling, general and administrative (40.9) (46.4) (53.5) (41.2) -24% -1%
Research and development (30.5) (33.9) (37.5) (33.5) -19% -9%
Front End 1.4 1.4 2.1 2.9
Back End (100%) (4.3) 1.2 (5.3) 19.0
EBIT (excl. special items) (2.9) 2.6 (3.2) 21.9 181% -88%
as % of sales -1.2% 0.9% -1.0% 7.0%
Special items:
Restructuring expenses (0.3) (0.3) (0.9) -
Early extinguishment of debt - - (2.2) -
Realized gain on sale PT shares 323.6 - - -
Unrealized gain on sale PT shares 1,084.0 - - -
Front End 3.1 3.1 (19.5) (2.5)
Back End (ASMI interest) (0.5) 0.2 (2.2) 8.8
Gain on sale PT shares 1,407.6 - - -
Net Result 1,410.1 3.3 (21.7) 6.3 115% -48%
For Q1 2013, the results of Back-end were consolidated until March 15, 2013. From that date on net results of ASMPT will be reported
on the line "results from investments"
© 2009 ASM
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Balance Sheet - Group
€ mill ion Dec 2012 Mar 2013
Cash and cash equivalents 291 565
Other current assets 807 208
Property, plant and equipment, net 275 61
Goodwill, net 52 12
Associates - 1,346
Other Assets 75 35
Total Assets 1,500 2,226
ST debt (incl current LT debt) 68 -
Other current l iabilities 350 87
Long-term debt & Convertible subordinated debt 13 -
Other long term liabilities 19 3
Total Liabilities 450 90
Total Shareholders' Equity 742 2,136
Non-controlling interest 308 -
Total Liabilities and Equity 1,500 2,226
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Cash Flow - Group
Q1 Q4 Q1
€ mill ion 2013 2012 2012
Net earnings (loss) 1,407.6 (23.8) 14.3
Depreciation 13.3 15.0 13.1
Working Capital (8.0) 41.8 19.9
PPA, restructuring & impairments (0.3) (0.9) 0.1
Associates (1,409.9) - -
Others (1.0) 18.0 (7.2)
Net cash from operating activities 1.7 50.1 40.2
Net cash from investing activities 293.0 (21.1) (18.4)
Net cash from financing activities (22.0) (35.1) (5.8)
Exchange rate effects 1.5 (0.8) (1.6)
Net increase (decrease) in cash and cash
equivalents 274.1 (6.8) 14.4
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Monday, April 29, 2013 Confidential and Proprietary Information 26
Historical development - FE
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Monday, April 29, 2013 Confidential and Proprietary Information 27
Bookings & Backlog - FE
Backlog increased 31% to €120m
Book-to-Bill ratio decreased to 1.3 (Q4: 1.4)
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Financial Outlook
Based upon the current backlog and our current visibility:
Following the healthy book to bill ratio's in Q4 2012 and Q1 2013
our Front-end operations are expected to show a strong double digit
sales increase in Q2 compared to Q1. We also expect a double digit
increase of our order intake in Q2 compared to Q1.
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Proprietary Information
Back-up slides
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Proprietary Information 30 Monday, April 29, 2013 30
Selected Front-End Products
A412 Vertical Furnace
Highest
productivity
Epsilon® 3200 Epitaxy
Advanced
strain
layers
Pulsar® ALD
High-k leader
Eagle® XP PECVD
ALD
PEALD
Common
Platform
© 2009 ASM
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ASM Pacific Technology Ltd. © 2013
ASMPT: Full Range of Advanced Flip Chip
Solutions
RF chips
Wireless chips
CPU
GPU
SoC
Application
Processor
High Pin count – High End
(TCB) High Pin count – Mid Range
(C4/TS) Low Pin count
(C4)
AD9312 AD9212/IS9012TS
AD8312FC
AD838FC
± 2 µm ± 10 µm
Placement Accuracy
± 15 µm
page 31
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Proprietary Information 32 Monday, April 29, 2013 32
ASMPT: Solutions for Fast Growing LED
Packaging Market
Material
- Leadframe & Wafer
Post Curing
Singulation
Die Sorting
Encapsulation /
Lens Attach /
Lens Molding
Testing, Sorting and Taping
Die Bonding
Phosphor Application
Jetting
Curing
Wire Bonding
Finished