ASML Holding N.V.

Welcome to the ASML 2020 Second Quarter Financial Results Conference Call on July 15, 2020. Throughout today's introduction, all participants will be in a listen-only mode. After ASML's introduction, there will be an opportunity to ask questions. I would now like to open the Q&A question and answer queue. If you would like to ask a question, please press star 1 to register. If you would like to withdraw a question, please press star 2 at any time during your call. Your questions will be answered in the order that they are received. If any participant has difficulty hearing the conference, please press star zero for operator assistance. I would now like to turn the conference call over to Mr. Skip Miller. Please go ahead, sir.

Thank you, operator. Welcome, everyone. This is Skip Miller, Vice President of Investor Relations at ASML. Joining me today on the call is ASML CEO, Peter Winnick. and our CFO, Roger Dassen. The subject of today's call is ASML's 2020 second quarter results. The length of this call will be 60 minutes and questions will be taken in the order they are received. This call is also being broadcast live over the internet at asml.com. A transcript of management's opening remarks and a replay of the call will be available on our website shortly following the conclusion of this call. Before we begin, I'd like to caution listeners that comments made by management during this conference call will include forward-looking statements within the meaning of the federal securities laws. These forward-looking statements involve material risks and uncertainties. For discussion of risk factors, I encourage you to review the safe harbor statement contained in today's press release and presentation found on our website at asml.com and in ASML's annual report on Form 20-F and other documents as filed with the Securities and Exchange Commission. With that, I'd like to turn the call over to Peter Winnick for a brief introduction.

Thank you, Skip. Welcome, everyone, and thank you for joining us for our second quarter 2020 results conference call. First of all, I hope all of you and your families are healthy and safe and Before we start our normal quarterly results review, I would like to provide you a brief update on the COVID-19 situation. I think thanks to the commitment, engagement and creativity of our people, we managed the quarter very well and this translated into growth in both revenue and profitability in the quarter. And Roger will of course provide some more details on those results. Although we experienced some challenges early in the quarter around supply delays and increased absenteeism, We did not encounter any new disruptions due to COVID-19. We continue to operate with special measures in place around isolation and contamination protocols to ensure the safety of our employees and to reduce the risk of operational disruption. Even though this created some initial inefficiencies and production delays, operations capabilities are largely back to normal. Regarding transportation logistics and customer support, we were able to continue to secure flights to meet customer shipment requirements and we have managed to support our customers in this challenging environment. We have significantly increased the capability of our teams in the field to more independently support the customer and continue to deploy more novel remote diagnostics and augmented reality support. Maturity of this remote technology has accelerated throughout this COVID period and we expect to deploy even more of this in the future. In summary, we've been able to successfully navigate to the current environment and our operations capabilities are largely back to normal. But as COVID-19 is not yet behind us, we will remain vigilant to ensure the safety of our employees while providing the best possible customer support. Thanks again to our people and everyone in our supply chain who did an outstanding job servicing our customers during these challenging times. I would like to turn to our normal quarterly results process. Before we begin the Q&A session, Roger and I would like to provide an overview and some commentary on the second quarter. as well as provide our view on the coming quarters. Roger will start with a review of our Q2 financial performance with added comments on our short-term outlook and I will complete the introduction with some additional comments on the current business environment and our future business outlook. Roger, if you will.