Aixtron Se · XETR:AIXA
Aixtron — Q3 2021 Earnings Presentation
19 slides from Aixtron's earnings presentation, Nov 6, 2021
Slide 1: Investor Presentation: First Nine Months / Third Quarter 2021 Results
Investor Presentation First Nine Months / Third Quarter 2021 Results, November 4, 2021
Slide 2: Forward-Looking Statements
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”, “intend”, “pla
Slide 3: AIXTRON – Q3/2021 highlights
HIGHLIGHTS AIXTRON – Q3/2021 highlights ✓ High order momentum continues ▪ Q3-Order Intake of EUR 114 million continues to be on high level ▪ Q3-Orders largely driven by GaN Power, Optical and Wireless Datacom as well as LED ✓ Q3-Revenues above Q2-levels – to accelerate further q-on-q in Q4/2021 ▪ Q3
Slide 4: Consolidated Income Statement
FINANCIALS Consolidated Income Statement1 (EUR million) 9M/21 9M/20 +/- (%) Q3/21 Q2/21 +/- (%) Revenues 248.1 161.1 54 130.8 67.7 93 Cost of sales 146.6 97.9 50 74.5 39.8 87 Gross profit 101.4 63.3 60 56.3 27.9 102 Gross margin 41% 39% 2 pp 43% 41% 2 pp Selling expenses 7.2 7.3 -2 2.2 2.9 -24 Gener
Slide 5: Balance Sheet
FINANCIALS Balance Sheet1 (EUR million) 30/09/21 31/12/20 30/09/20 Property, plant & equipment 70.6 63.5 66.9 Goodwill 71.9 71.0 71.2 Other intangible assets 2.2 2.9 2.7 Others 24.0 74.92 41.83 Non-current assets 168.7 212.2 182.7 Inventories 137.3 79.1 101.6 Trade receivables 38.0 41.3 19.0 Others
Slide 6: Consolidated Statement of Cash Flows
FINANCIALS Consolidated Statement of Cash Flows1 (EUR million) 9M/21 9M/20 Q3/21 Q2/21 Net Result 42.9 9.6 31.4 7.7 Adjust for: Non-Cash Items 1.7 6.1 3.2 0.1 Changes in Working Capital2 (4.2) (10.8) (46.8) 13.0 Cash Flow from Operating Activities2 40.5 4.9 (12.2) 20.8 Capital Expenditures/Disposals
Slide 7: AIXTRON – 2021 Guidance: Confirmed
OUTLOOK AIXTRON – 2021 Guidance1: Confirmed 2021 Guidance1 confirmed based on 9M Results, current order situation and current environment: Revenue Guidance FY 2021 EUR million Total Order Intake (EUR million) ~15 440 - 480 248 Revenues (EUR million) 400 - 440 ~137 -177 Gross Margin (%) ~ 40% Q4/2021
Slide 8: 24-Month Business Development
FINANCIALS 24 - Month Business Development EUR million Order Intake Revenues Order Backlog (incl. equipment & after sales) (incl. equipment & after sales) (equipment only) @ @ @ @ @ @ @ $1.20 $1.25 $1.10 $1.14 $1.20 $1.20 $1.25 295 268 224 164 139 146 157 151 124 131 114 108 117 92 81 75 69 70 71 64
Slide 9: Epitaxial Growth Equipment Market Forecast
Epitaxial Growth Equipment Market Forecast1 USD million 6,237 CAGR: 3,323 ~ 35% 3,612 1,588 2,192 1,701 450 1,396 112 958 1,138 109 2,914 ~ 21% 781 1,742 2,024 1,287 1,589 2018 2019 2020 2021 2022 2023 2024 2025 Aggressive Base ✓ Micro LED equipment demand as strongest driver in Aggressive Scenario
Slide 10: Revenue Analysis 9M/2021
OPERATIONS Revenue Analysis1 9M/2021: 9M/2021: 9M/2021: by equipment & after sales by end application (equipment only) by region 18% 19% 10% 2% 50% 23% 30% 67% 82% equipment after sales LED Other incl. R&D Asia Americas Power Optoelectronics and Europe Electronics Communications2 1 Rounded figures;
Slide 11: Our #1 MOCVD Market Position
OPERATIONS Our #1 MOCVD Market Position 2018 2019 2020 2% 3% 16% 24% 28% USD 553m 46% USD 488m 48% USD 438m 26% 58% 27% 21% AIXTRON Veeco AMEC Others Source: Gartner April 2021 10
Slide 12: Annual Total Revenues by Application (including After Sales)
Annual Total Revenues by Application (including After Sales) EUR million 800 784 700 611 600 500 400-440 400 303 Q4e 300 269 260 269 228 230 _______ 183 194 198 196 200 9M actual 100 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021e Blue LED boom Growth of diversified Compound Semi
Slide 13: Demand Drivers on Order Intake per Quarter (Equipment Only)
Demand Drivers on Order Intake per Quarter (Equipment Only) EUR million Strategic China Investments 250 200 LED TV 3D Sensing Lasers, ROY LEDs Overcapacity 150 Lasers and Power Absorption, (VCSELs) Electronics Industry Consolidation 100 50 0 Q4/11 Q3/15 Q4/15 Q4/18 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/1
Slide 14: AIXTRON Competitive Landscape
AIXTRON Competitive Landscape USA Europe China Korea Japan GaAs/InP Opto Optoelectronics, ROY LED GaN LED TOPEC Power GaN Power SiC Power Source: AIXTRON estimates 13
Slide 15: Consolidated Income Statement
FINANCIALS Consolidated Income Statement1 (EUR million) 2020 2019 2018 2019-2020 (%) Revenues 269.2 259.6 268.8 4 Cost of sales 161.0 150.9 151.2 7 Gross profit 108.3 108.7 117.6 0 Gross margin 40% 42% 44% -2 pp Selling expenses 9.7 9.9 9.4 -2 General & admin expenses 18.0 16.5 18.4 9 R&D 58.4 55.0
Slide 16: Balance Sheet
FINANCIALS Balance Sheet1 (EUR million) 31.12.2020 31.12.2019 31.12.2018 Property, plant & equipment 63.5 64.5 63.1 Goodwill 71.0 72.4 71.6 Other intangible assets 2.9 2.4 2.1 Others2 74.9 11.7 13.3 Non-current assets 212.2 151.0 150.1 Inventories 79.1 79.0 73.5 Trade receivables 41.3 29.2 40.1 Othe
Slide 17: Consolidated Statement of Cash Flows
FINANCIALS Consolidated Statement of Cash Flows 1 (EUR million) 2020 2019 2018 Net Result 34.5 32.5 45.9 Adjust for Non-Cash Items 8.0 13.1 0.7 Changes in Working Capital (19.2) (2.8) (34.6) Cash Flow from Operating Activities2 23.3 42.8 11.9 Capital Expenditures/Disposals (9.3) (7.7) (7.6) Free Cas
Slide 18: Financial Calendar & Contact Data
Financial Calendar & Contact Data Our Financial Reporting Dates: For further information please contact: Investor Relations February 24, 2022 Andrea Koegler-Ihler FY 2021 Results, Conference Call Phone: +49 (2407) 9030-6153 May 5, 2022 Public Relations Q1/2022 Results, Conference Call Rita Syre Phon
Slide 19: AIXTRON SE Contact Details
AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath, Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mai info@aixtron.com