As you also would have seen, if you look at the 2025 and 2030 scenarios that we’ve talked about, you see it coming down a little bit, and that’s clearly the intention to get some operational leverage there. But for the fast-growing company that we are, investments like these are necessary to make sure that the organization has run in a very professional way, that security is up to scratch, that the IT support for our professionals is up to scratch, et cetera, et cetera. So that’s what we’re doing on the SG&A side. On the R&D side, this really is the very, very aggressive road map that we have on all cylinders. So this is deep UV. And as Peter mentioned earlier on, this is not just a deep UV on the immersion side where we continue to drive immersion but also, this is on the — on the dry side, KrF.
So for KrF, we continue to drive road maps for smaller customers on the XT platform for larger customers operating large fabs on an NXT platform. We’re looking at i-Line road maps. We have a very broad road map that we have on metrology and inspection. And obviously, we continue to drive both low-NA and high-NA. So it’s a very extensive road map, more extensive than we’ve ever had before in the history of the company. And of course, all of this is conducive to the goals that we’ve been talking about and the scenarios that we’ve been talking about at the Investor Day for 2025 and 2030. So yes, definitely significant investment, but definitely rewarding if you look at the potential that we see in the market for those products.
Peter Wennink: Yes. I think it’s what Roger said. I mean our relentless focus on innovation and R&D has paid off handsomely in terms of value that we could create with our products, but also the extension of our market shares, the integration of our product offering into a kind of a holistic approach and value to our customers, that will only increase going forward. I mean things in semiconductor manufacturing will not get easier. They are getting more complex. It actually means that the entire product portfolio focused on patterning, patterning the 2-nanometer, the 1.5- to 1-nanometer and beyond, that is going to be significantly valuable to our customers. And that means we need to spend on R&D that Roger just talked about to make sure that all the ingredients for that value recipe are actually there. And that’s what we need to do. And it has served us extremely well in the past, it will serve us extremely well going forward.
Operator: And our next question comes from the line of Mehdi Hosseini at SIG.
Mehdi Hosseini: A couple of follow-ups. Peter, based on your conversation with customers over the past month or 2, has anything changed with your assumptions since the Analyst Day? I hear — what I hear from you is pretty much the same as what we heard in November, which is also consistent with what you said in October. On the surface, it seems like there hasn’t been any change to the customer zone or how they’re planning despite the fact that end market demand is weaker. And I’m just wondering if there’s anything else you can share.
Peter Wennink: Yes. So I think what we definitely see in the discussion with the customers, they are addressing the short-term challenges, it’s just clear. I mean they basically say, “No, we need to — we see inventories rising. We need to rebalance the inventory. So how do you do that?” So you just lower the utilization of the tools. That’s short term, they’re very clear. They’re also very clear about their confidence in the long-term growth trajectory of the industry and of the need for significantly more semiconductors in all kinds of applications. I think it’s without any exception, customers are talking about the medium- to long-term growth trajectory of the industry. That hasn’t changed. It is also why, of course, there are short-term concerns like always short-term concerns.
