00:00We are very happy to finish the year so strongly.
00:03I think that, you know, the...
00:05The SML team has done a great job.
00:06They're bringing out a very, very big quarter.
00:10And we are looking at the record quarter.
00:12We are looking at the record year.
00:14So this is...
00:15The SML team is very good already for 2025.
00:17And when we look at the mid...
00:20You know, in the course of last year, we sometimes had some doubt, basically, also.
00:25Some uncertainty on what AI will do to our business because, to be honest...
00:30It took a bit of time to convert some of the great announcements we heard from the AI...
00:35Company to Semiconductor.
00:37But the last three months have brought a lot...
00:40A lot of clarity.
00:41And I think what you see, basically, is that the semi-industrial...
00:45Three-hour customers stop to believe that this AI demand is...
00:50Sustainable.
00:51And therefore, they have moved into building capacity.
00:55And they are moving very aggressively.
00:56And I think this has been very nicely translated...
01:00Indeed, into a record booking number.
01:02So that's, of course, very good news for the midterm.
01:05That's 2026, most probably also beyond that.
01:10Does it pull forward, Christoph, given that demand, given that build-out?
01:15Does it pull forward the timeframe for your most sophisticated product, the high-end...
01:20In a EUV?
01:21Or is that still a 2027 story?
01:23Well, I think...
01:25I think that, you know, the pull is on all capacities.
01:29So we're going to look at...
01:30Logic.
01:31We're going to look at DRAM.
01:32I think, you know, the first move would be...
01:35We're going to be using existing product, and we'll see a lot of pull on our low-NA...
01:40UV this year.
01:41This is clearly one of the products that will be...
01:45We're going to see a high demand in 2026.
01:47But we also see that on our...
01:50Less advanced histography system, DPV.
01:53We also see that, by the way...
01:55On inspection and metrology.
01:56So we see, basically, on the short-term, a huge demand...
02:00Basically, for everything we have to offer our customer today.
02:04Now, the other...
02:05The second argument is that, on the longer-term, you know, AI application...
02:09I think we say that...
02:10In our capital market day, November 24, those applications are...
02:15We have a huge appetite for advanced technology, and we also see our...
02:20A customer ramping their most advanced technology nodes, so 2nm for logic...
02:25We look at 1c for DRAM, and they are looking also, you know...
02:30We look forward to the future with the need, basically, to continue to innovate.
02:34And this, of course...
02:35And this, of course, position of future technology also nicely.
02:38So I think on the short mid-term...
02:40You know, 26, 27, you look at an impact first and foremost on our...
02:45Existing product, I would say low NA EUV, most would be on top of that.
02:50And beyond that, of course, we expect some positive development for INE.
02:55Thank you very much.
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