Participation in Technology
Jan van Duren
13 maart, 2014
Company (> 5,000 employees)
World-class R&D
ASML (semiconductors)
Lundbeck (pharma)
R&D per
employee (€)
78,000
71,700
Porsche (automotive)
UBIsoft Entertainment (software)
Boehringer Ingelheim (pharma)
58,100
54,400
53,300
AstraZeneca (pharma)
48,400
Sanofi-Aventis (pharma)
GlaxoSmithKline (pharma)
Merck (pharma)
43,600
41,300
40,900
Source: European Commission: 2010 EU Industrial R&D Investment Scoreboard
Slide 4 |
Open Innovation makes complexity and cost manageable
Public
Slide 5
Customers
Suppliers
Technology partners
Academia
A market of 12 large ASML customers
Public
Slide 6
Source: Gartner, Q4 2013
Company
2013 semi capex
(estimate, $M)
Intel
10,500
TSMC Group
9,750
Samsung
9,500
GlobalFoundries
4,000
SK Hynix
2,730
Toshiba (incl. SanDisk)
2,580
Micron Technology
1,800
United Microelectronics Group
1,500
SMIC
805
Infineon
640
Sony
617
STMicroelectronics
500
3 major clients hold 25% of the ASML
shares (without voting rights)
Interconnected Dependency
Interconnected Participation
...the stairway to heaven…
Slide 9 |
Slide 10 |
ASML Employee Participation Plans
Confidential
Slide 11
Employee Share Ownership Plans
• BoM, Management and Employees
• 10% of Employees – Up to Euro 12,000
Employee Share Purchase Plans
• Management and Employees
• Max 10% of Base salary; Premium 20%
Employee Profit Sharing Plans
• Employees
• Max 20% of Base Salary
ASML Share Ownership Plan for Employees
Confidential
Incentive Shares
Slide 12
Conditions employees (non management)
Discretionary grant of shares
Recognition and retention
10% of employees nominated
Value up to Euro 12,000 (~ 10% to 15% of Base)
1 year service condition to vesting
Year
Shares
Value
Granted
Per Part.
Granted
Per Part.
2009
110,000
220
2.2 mio
4,500
2010
132,500
240
2.7 mio
4,800
2011
152,500
220
3.9 mio
5,600
2012
167,500
200
6.0 mio
7,100
2013
99,500
100
5.9 mio
5,800
ASML Share Purchase Plan for Employees
Confidential
Ordinary Shares
Slide 13
Conditions (excluding Board of Management)
Buy shares from Net Income (broadly defined)
Max value of 10% (net) of gross base salary
After 1 year 20% premium (gross) on acquired value
Premium only when in service and in possession
Swop to options possible (Black & Scholes, 10 year)
Year
Participants
Shares
Acquired
Invested
Value
ASML
Premium
2011
~ 1,000*
110,000
2.7 mio
530,000
2012
1,118
50,000
2.3 mio
470,000
2013
1,095
60,000
3.4 mio
690,000
* Estimation of unique participants
Participation
Netherlands
16%
Europe
14%
USA
21%
Asia
11%
ASML Share Price in 15 years: 1999 - 2014
Public
Slide 14 |
ASML Profit Sharing Plan for Employees
Year
Pay Out
2005
8%
2006
12%
2007
14%
2008
6%
2009
0%
2010
18%
2011
20%
2012
18%
2013
14%
Participation: How about Influence?
Als iedere medewerker van ASML aandelen
zou hebben in het bedrijf ter waarde van twee
keer zijn bruto jaarinkomen……..
……..dan zouden alle medewerkers samen in
totaal 3% van de aandelen van ASML bezitten
Participation in Influence
 Job
 Work Meetings
 Professional Culture
 Speak Up
 Take Charge
 People Survey (Me@ASML)
 Works Council
 Labor Unions
 Shareholder Vote
Flexibilisering Arbeidsmarkt
?
Success factors participation plans: chicken and egg
Confidential
Slide 19
Trust
Connection
Believe
Participate in ASML,
Participate in Yourself