Aixtron Se · XETR:AIXA
Aixtron — Investor Presentation (February 2019)
36 slides from Aixtron's investor presentation, February 2019
Slide 1: AIXTRON Investor Presentation
AIXTRON Investor Presentation IR Presentation – FY/2018 (FSE: AIXA, ISIN DE000A0WMPJ6) © AIXTRON Investor Relations, February 2019
Slide 2: Forward-Looking Statements
Disclaimer 2 Forward-Looking Statements This document may contain forward-looking statements regarding the business, results of operations, financial condition and earnings outlook of AIXTRON. These statements may be identified by words such as “may”, “will”, “expect”, “anticipate”, “contemplate”, “
Slide 3: Our Vision: Technology. Materials. Performance.
ABOUT AIXTRON 3 Our Vision Technology. Materials. Performance. Technology. Materials. Performance. We are the recognized We enable our We deliver the technology leader customers to performance driving in complex material successfully shape the economic success deposition. markets of the future, thro
Slide 4: Who we are
ABOUT AIXTRON 4 Who we are Headquarters based near Aachen, Germany Company founded in 1983 – 35 years of experience Worldwide presence in 7 countries Technology leader in deposition systems R&D and production facilities in Germany and UK More than 2,700 deposition systems installed world
Slide 5: Global Presence
ABOUT AIXTRON 5 Global Presence
Slide 6: Technology Portfolio for Complex Material Deposition
AIXTRON TECHNOLOGIES AND PRODUCTS 6 Technology Portfolio for Complex Material Deposition OLED: OVPD®/PVPD® Carbon – PECVD NANO: Innovation Pool LEDs / Optoelectronics Lasers (VCSEL/EEL) GaN Power | GaN RF Power Management (e.g. 3D Sensing; Consumer (e.g. Wireless Charging; 5G, Electronics; Fast Char
Slide 7: Revenue Analysis
OPERATIONS 7 Revenue Analysis* * Rounded figures; may not add up FY/2018: FY/2018: FY/2018: by equipment & spares by end application by region (equipment only) 10% 16% 20% 18% 8% 26% 54% 82% 66% LED Asia Equipment Power Electronics Spares Europe Optoelectronics* USA Others * Optoelectronics includes
Slide 8: 24-Month Business Development
FINANCIALS 8 24 - Month Business Development (€ million) Order Intake (incl. equipment, 61.9 66.6 69.6 65.7 78.6 75.6 76.0 72.2 service, spare parts) @ $1.10 @ $1.20 Order Backlog (equipment only) 138.3 151.9 138.3 108.6 114.9 93.4 99.2 87.6 @ $1.10 @ $1.20 Revenues 87.9 (incl. equipment, 53.6 60.6
Slide 9: Consolidated Income Statement
Financials 9 Consolidated Income Statement* * Rounded figures; may not add up +/- +/- (€ million) 2018 20171 Q4/18 Q3/18 % % Revenues 268.8 230.4 17 87.9 63.4 39 Cost of sales 151.2 156.4 -3 48.5 35.8 35 Gross profit 117.6 74.0 59 39.4 27.6 43 % 44% 32% 12 pp 45 44 1 pp Selling expenses 9.4 10.2 -8
Slide 10: Balance Sheet
Financials 10 Balance Sheet* * Rounded figures; may not add up (€ million) 31/12/18 30/09/18 31/12/17 Property, plant & equipment 63.1 63.8 64.3 Goodwill 71.6 71.5 71.2 Other intangible assets 2.1 1.6 1.8 Others 13.3 12.9 4.0 Non-current assets 150.1 149.8 141.3 Inventories 73.5 71.4 43.0 Trade rece
Slide 11: Consolidated Statement of Cash Flows
Financials 11 Consolidated Statement of Cash Flows* * Rounded figures; may not add up (€ million) 2018 2017 Q4/18 Q3/18 Net Result 45.9 6.5 18.2 11.7 Adjust for Non Cash Items 1.7 -7.8 1.8 -0.1 Changes in Working Capital -34.6 71.4 -12.4 2.3 Cash Flow from Operating Activities 13.0 70.1 7.6 13.9 Cap
Slide 12: AIXTRON – 2018 Operational Performance
Financials 12 AIXTRON – 2018 Operational Performance Guidance vs Actuals: Achieved in all Metrics Upper-ends of 2018 Full Year Guidance Ranges reached without exception: • Order Intake: Around EUR 290 million Guided – EUR 302.5 million Reported • Revenues: Around EUR 260 million Guided – EUR 268
Slide 13: AIXTRON – 2019 Guidance
Outlook 13 AIXTRON – 2019 Guidance* Based on current order situation and 2019 Guidance* customer reticence, Management expects for 2019: 2019 Shippable • Total Order Intake between Equipment Order EUR 220 ~ 260 million Intake: EUR 77 ~ 107m • Revenues between Order Backlog as of EUR 260 ~ 290 millio
Slide 14: Market Prospects
FUTURE MARKETS 14 Market Prospects Short- to Mid-Term • Increasing adoption of compound semiconductor-based lasers for 3D sensor systems in mobile devices as well as sensors for infrastructure applications. • Further increasing demand for lasers for ultra-fast optical data transmission of large volu
Slide 15: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 15
Slide 16: AIXTRON MOCVD – Planetary Reactor: Tool-of-Record
AIXTRON TECHNOLOGIES AND PRODUCTS 16 AIXTRON MOCVD – Planetary Reactor®: Tool-of-Record Individual Wafer Rotation = Best Material Uniformity Individual wafer temperature adjustment = Wafer Level Control/Optimization Highest Epi / Product Yield = Lowest Production Cost
Slide 17: AIXTRON – Enabling Emerging Global Mega Trends
AIXTRON TECHNOLOGIES AND PRODUCTS 17 AIXTRON – Enabling Emerging Global Mega Trends GaAs GaN Optical 3D Sensing Mobile Power Supplies for Automotive Communication Lasers communication Consumer Electronics MOCVD Platform Technology GaAs SiC Electric Solar Vehicles Fine Pitch & Infrared LED MiniLED Di
Slide 18: Devices: VCSEL/EEL – Internet of Things Creates New Opportunities
AIXTRON TECHNOLOGIES AND PRODUCTS 18 Devices: VCSEL/EEL – Internet of Things Creates New Opportunities Source: icons from www.flaticon.com 3D Sensing Functionality Facial Recognition Autonomous Driving Lasers: VCSEL/EEL Processor Tailor-made clothing/shoes Interior Design Sensor/Receiver …… Mapping
Slide 19: Devices: GaN/SiC Power Electronics – Superior Performance
AIXTRON TECHNOLOGIES AND PRODUCTS 19 Devices: GaN/SiC Power Electronics – Superior Performance Source: icons from www.flaticon.com Energy Saving Electric Vehicles EV-charging More Efficient Less Heat Light Weight Renewable Energy Data Centers Lower Smaller System Cost Wireless Charging Fast Charging
Slide 20: Devices: ROY LEDs for RGB Displays; UV LEDs for Niche Markets
AIXTRON TECHNOLOGIES AND PRODUCTS 20 Devices: ROY LEDs for RGB* Displays; UV LEDs for Niche Markets Source: LEDinside, Yole Développement Initial RGB* LED Introduction Under Development DISPLAYS Soon ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● Stadium Fine Pitch MiniLED f
Slide 21: Devices: MiniLED & MicroLED – The Perfect Future Display Technology
AIXTRON TECHNOLOGIES AND PRODUCTS 21 Devices: MiniLED & MicroLED – The Perfect Future Display Technology Source: LEDinside RGB* ● ● ● Self-Emissive MicroLED ● ● ● ● ● ● Display 1 Wearables ≈ Low Power 100 Consumption Perfect AR/VR Contrast ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● High S
Slide 22: AIXTRON – Instrumental in Evolving Display Technologies
AIXTRON TECHNOLOGIES AND PRODUCTS 22 AIXTRON – Instrumental in Evolving Display Technologies Specialty LED OLED Display Plasma LED Backlit Display MicroLED Display LCD CRT // 1950’s → 2000’s → 2006 → 2010 → Under Development →
Slide 23: APEVA: Complete OLED Deposition System Provider
Strategic Rationale 23 APEVA: Complete OLED Deposition System Provider OVPD Deposition OVPD Deposition Line* Automation & Handling • Fully Automated OLED Deposition Lines and Fab Integration as a Complete System Provider • Innovative Deposition Technology with • Higher Efficiency of OLED Material De
Slide 24: Organic Electronics – OVPD – APEVA
AIXTRON TECHNOLOGIES AND PRODUCTS 24 Organic Electronics – OVPD® – APEVA Source: DisplaySearch, AIXTRON OLED manufacturing process Cleaning Cleaning Glass cutting ITO deposition Organic material deposition Bonding Coating Etching Cathode deposition Aging Stripping Encapsulation Final test (Thin film
Slide 25: Carbon Nanomaterials – PECVD
AIXTRON TECHNOLOGIES AND PRODUCTS 25 NANO: Innovation Pool Carbon Nanomaterials – PECVD Graphene and Carbon Nanotube Deposition Systems • Proprietary thermal and plasma enhanced chemical vapor deposition technology • Excellent uniformity and reproducibility with fast turnaround cycle times • BM plat
Slide 26: Overview: GaN/SiC as Wide Band Gap Power Electronics
AIXTRON TECHNOLOGIES AND PRODUCTS 26 Overview: GaN/SiC as Wide Band Gap (WBG) Power Electronics Consumer Electronics & IT Automotive Energy Industrial Power Management Power Switching 30V 600V 1.2 kV ≥2kV • Electronic appliances • Infotainment • General automotive • Power Grid / Smart meter • UPS •
Slide 27: SiC in Automotive: Main Inverter as the Major Market Opportunity
AIXTRON TECHNOLOGIES AND PRODUCTS 27 SiC in Automotive : Main Inverter as the Major Market Opportunity Quick charging pole Higher efficiency = 1 kV DC (30 – 300 kW) Battery size Battery 3 reduction 2 OBC DC-DC 1 Main inverter 240 V Cost savings AC Range extension Component Power (kW) Fraction
Slide 28: Equipment Order Intake per Quarter
OPERATIONS 28 Equipment Order Intake per Quarter driven by strategic (EUR million) China investments 250 Lasers, ROY driven by LED TV LEDs and Power 200 driven by driven by Overcapacity Electronics telecom/datacom notebook Absorption, driving demand and mobile phone backlighting Industry 150 Consoli
Slide 29: Annual Total Revenues by Application (including spares)
OPERATIONS 29 Annual Total Revenues by Application (including spares) (EUR million) 800 700 600 500 400 300 200 100 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 LED Power Electronics Optoelectronics* Others Spares, Services, etc. Silicon** * O
Slide 30: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 30
Slide 31: AIXTRON Competitive Landscape
INDUSTRY 31 AIXTRON Competitive Landscape USA Europe China Korea Japan GaAs/InP Opto Optoelectronics, ROY LED GaN LED TOPEC Power GaN Power SiC Power OLED
Slide 32: Consolidated Income Statement
FINANCIALS 32 Consolidated Income Statement* * Rounded figures; may not add up (€ million) 2018 2017 2016 Revenues 268.8 230.4 196.5 Cost of sales 151.2 156.4 140.2 Gross profit 117.6 74.0 56.3 % 44% 32% 29% Selling expenses 9.4 10.2 13.8 General & admin expenses 18.4 17.1 17.1 R&D 52.2 68.8 53.9 Ne
Slide 33: Balance Sheet
FINANCIALS 33 Balance Sheet* * Rounded figures; may not add up (€ million) 31/12/18 31/12/17 31/12/16 Property, plant & equipment 63.1 64.3 74.2 Goodwill 71.6 71.2 74.6 Other intangible assets 2.1 1.8 5.4 Others 13.3 4.0 2.4 Non-current assets 150.1 141.3 156.5 Inventories 73.5 43.0 54.2 Trade recei
Slide 34: Consolidated Statement of Cash Flows
FINANCIALS 34 Consolidated Statement of Cash Flows* * Rounded figures; may not add up (€ million) 2018 2017 2016 Cash Flow from operating activities 13.0 70.1 -37.7 Cash Flow from investing activities -16.1 40.7 43.4 Cash Flow from financing activities 10.4 1.2 0.3 Exchange rate changes 2.4 -5.5 -2.
Slide 35: Financial Calendar & Contact Data
35 Financial Calendar & Contact Data • April 30, 2019 Q1/2019 Results, Conference Call • May 15, 2019 Annual General Meeting, Aachen (Germany) • July 25, 2019 H1/2019 Results, Conference Call • October 24, 2019 9M/2019 Results, Conference Call • February 2020 FY/2019 Results, Conference Call For fur
Slide 36: Technology. Materials. Performance.
Technology. Materials. Performance. AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mail invest@aixtron.com