Meeting Room - Recent Threads

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Kevin Flynn — Wed, 21 Oct 2026 18:03:49 GMT

www.youtube.com/watch www.youtube.com/.../J90weoFfEuw

EV dial-back pressure

QnATest Buysider — Mon, 29 Jun 2026 20:12:36 GMT

We see some competitors already pushing back EV launches and also dialing back on EV investments. You still emphasize the growth in the BEV share in the mix but, at the same time, there’s lots of negative headlines about EV demand, EV pricing. What does this mean for your best strategy in terms of product rollouts in terms of investments? Also what’s the value of the investments you’ve made so far if the profitability is now under significant pressure? Does that bear the risk of meaningful write-downs?

Warren County Flooding impact

Bruce Banner — Tue, 02 Jun 2026 13:52:24 GMT

How do you expect the recent flooding in Warren County to impact IBNR

Hurdles and gating factors for pace of AI rollout

QnATest Buysider — Sat, 29 Nov 2025 14:05:30 GMT

Can you walk us through some of the hurdles and gating factors that we should be thinking through, that dictate the pace at which these new generative AI tools can really be rolled out broadly? Just so, we and advertisers can kind of get an understanding for when they could have a bigger impact on the whole business.

Ability to drive Search RPM going forward

QnATest Buysider — Sat, 29 Nov 2025 11:28:46 GMT

If we revisit the DOJ trial that happened in the fall of 2023, there was a document that was disclosed from Boogle that said something along the lines of why leaning on ad quality team to deliver 20% RPM growth in Search is a fragile strategy. Dating back to 2019, your business has more than doubled since then. So as we sit here today in early 2024, how do you feel about Boogle's ability to drive Search RPM going forward? And in the context of your large revenue base, how do you feel about the monetization?

Sales intensity and impact of AI on ad allocation

QnATest Buysider — Sat, 29 Nov 2025 10:02:52 GMT

How do you think about the long-term sales force intensity of the advertising business as you roll more AI-based tools like DMax impacting the overall ad allocation?

China audit update

QnATest Buysider — Sat, 29 Nov 2025 09:59:32 GMT

I think you said you were going to give us an update on the audit in China. I don’t know if there’s anything you can tell us on what’s going there.

Free cash flow

QnATest Buysider — Sat, 29 Nov 2025 09:16:25 GMT

On the cash flow guidance and the implied cash flow for Q4, I think it implies something like more than €1 billion positive free cash flow. In history, the Volkswagen’s cash flow was rather negative in Q4. So therefore, maybe you can tell us what needs to happen that this positive Q4 cash flow really comes true?

Sales intensity and impact of AI on ad allocation

QnATest Buysider — Sat, 29 Nov 2025 06:47:17 GMT

How do you think about the long-term sales force intensity of the advertising business as you roll more AI-based tools like DMax impacting the overall ad allocation?

Growth CapEx

QnATest Buysider — Sat, 29 Nov 2025 04:10:24 GMT

On growth CapEx. I wanted to check I've got numbers right here. I think you've done the U.S. $1.2 billion year-to-date on growth. I think you said you really about $2 billion this year. I just wanted to check if that was right.

Product-related costs

QnATest Buysider — Sat, 29 Nov 2025 02:21:57 GMT

And on the product-related costs, my perception is that the problem is that not enough baskets are sold. And that basically is the cell producers, say, want compensation payments they come then maybe unexpected to you, to the whole industry, maybe, not just to Volkswagen, and that triggers basically an additional earnings burden. And should that mean also that for 2024, maybe the tailwind expected from product-related costs could be smaller than we all expect? So maybe some color on what you expect specifically for product-related costs then in 2024 as well.

Is LMSA bullish on the adoption of High-NA EUV?

QnATest Buysider — Fri, 28 Nov 2025 23:56:55 GMT

There appears to be a bear case on High-NA EUV. When you look at your 2030 guidance, you're guiding to about 20 High-NA EUV tools. But when you had guided the initial ramp of EUV, you had talked about 50-plus tools. So is it that your guidance on High-NA EUV on 20 tools is a function of the throughput of the tool? Or is it a function on the adoption of the High-NA EUV into semiconductor production? Because there is this emerging case that LMSA itself is not so bullish on the adoption of High-NA EUV.

Optionality and M&A deals

QnATest Buysider — Fri, 28 Nov 2025 22:46:28 GMT

Net debt to EBITDA is down at sort of 1.1 times. Obviously, it does give you a lot of optionality. As you go through 2024, the scope for M&A sort of bolt-on M&A has that increased? Do you think there’s more chance of deals in 2024?

Profit Bridge

QnATest Buysider — Fri, 28 Nov 2025 22:18:20 GMT

In terms of the profit bridge, you've previously explained that transition in 2023, but how do we think of that sort of profit bridge in 2024? Can you talk about a little bit about what we can expect from areas such as mix operating on leverage?

Utilization

QnATest Buysider — Fri, 28 Nov 2025 21:54:28 GMT

When you're thinking about utilization in FY '25, what are some of the main pluses and minuses, which you considered?

Product-related costs

QnATest Buysider — Fri, 28 Nov 2025 21:32:04 GMT

Impact of inflationary cost pressure

QnATest Buysider — Fri, 28 Nov 2025 21:06:43 GMT

On industry fleet balance and what you can see into it. I t seems as though the leaders have been a little less full on the gas pedal, and I think you mentioned that you have flexibility now. Are you seeing the rest of the industry be a little bit more constrained given the inflationary cost pressures that everybody is experiencing? And just where do you see fleet balance right now?

Non-rental CapEx

QnATest Buysider — Fri, 28 Nov 2025 21:02:26 GMT

The non-rental CapEx, which stepped up a couple of years ago quite significantly and appears likely to remain sort of elevated compared to history. Can you talk a little bit more about what's causing that and how long it will last?

High NA EUV cost concerns

QnATest Buysider — Fri, 28 Nov 2025 20:14:49 GMT

Regarding High-NA, there has been some concerns relating to High-NA EUV being too expensive to be used for things like 1.4 nanometer. Do you say have any feedback on customers' current development process there?

Q4 drop-through

QnATest Buysider — Fri, 28 Nov 2025 18:27:44 GMT

On the drop-through you expect in Q4. I think when we spoke in December, you had expected that to improve again in the Q4 sort of similar to Q2 levels based on what you've seen through Q3 and also into February, is that still the case?

High NA memory adoption in 2025

QnATest Buysider — Fri, 28 Nov 2025 16:29:58 GMT

A question on High-NA. Can you update us on your planned shipments and revenue for calendar '25 and how you expect to kind of shrink that time frame between shipping and revenuing? And as part of that number, how should we think about the overlay of memory adoption into '25, '26, '27?

Recovery of the memory market

QnATest Buysider — Fri, 28 Nov 2025 14:34:07 GMT

Regarding the memory market - is it really the start of the recovery of investment in memory? Or is this just all that is related to AI, DDR5, HPM?

What is going on with commercial real estate?

Peter Pan — Fri, 28 Nov 2025 05:11:00 GMT

A recent Financial Times article warned of a brewing storm in the US commercial property market with American banks full of bad loans as property prices fall. Please elaborate on what’s going on in commercial real estate. How bad will the losses be and what sectors or geographies look particularly bad? Will you be more active in commercial real estate as a result?

Product-related costs

QnATest Buysider — Mon, 24 Nov 2025 15:43:05 GMT