Aixtron Se · XETR:AIXA
Aixtron — Investor Presentation (2009)
42 slides from Aixtron's investor presentation, 2009
Slide 1: AIXTRON Investor Presentation Fall/Winter 2009
(FSE: AIXA, ISIN DE000A0WMPJ6; NASDAQ: AIXG, ISIN: US0096061041) AIXTRON Investor Presentation Fall/Winter Fall/Winter 2009 2009 including including 9M/2009 9M/2009
Slide 2: Forward-Looking Statements
Forward-Looking Statements AIXTRON Investor Presentation This publication constitutes neither an offer to sell nor a solicitation of an offer to buy securities. In particular, this document constitutes neither an offer to sell nor a solicitation of an offer to purchase securities in the United State
Slide 3: Agenda
Agenda AIXTRON Investor Presentation Introduction Operations Industry & Markets Business Trends Financials Outlook Summary Contact Appendix Production Sites Slide: 3
Slide 4: AIXTRON Investor Presentation
AIXTRON Investor Presentation Slide: 4 This Page has been intentionally left blank
Slide 5: AIXTRON Global Presence
AIXTRON Global Presence Ltd. AB Cambridge, UK Lund, Sweden Introduction cshs KK Seoul, South Korea Tokyo, Japan Inc. AG Sunnyvale, USA Aachen, Germany Headquarters Taiwan Co., Ltd. AG Shanghai, P.R. China Representation Slide: 5
Slide 6: AIXTRON MOCVD Reactors
AIXTRON MOCVD Reactors Injector Introduction Wafers Reactor Chamber ®® Planetary Planetary Reactor Reactor Slide: 6
Slide 7: One Technology – Multiple Solutions
One Technology – Multiple Solutions Deposition Technology Technology Nano Scale Material Engineering Compound Semiconductor Silicon Semiconductor System Introduction MOCVD, OVPD®, PECVD CVD, ALD, AVD® • LEDs/OLEDs for displays • LEDs/OLEDs for lighting • Metal and oxide films for • Optoelectronics f
Slide 8: Value Chain Positioning
Value Chain Positioning Production Chip & Electronic End Modules & Equipment Component Device User Packaging Manufacturers Makers Manufacturers Markets Introduction Consumer commu- nication Industrial Display Lighting Medical Automotive Slide: 8
Slide 9: System Technologies
System Technologies Compound Compound Compound OVPD®, PVPD Compound Compound Operations Nanoinstruments Black Magic II - MOCVD Planetary Reactor® PECVD MOCVD Close Coupled Showerhead® Hot Wall SiC CVD Silicon Silicon Silicon Lynx-iXP CVD Tricent® AVD® Tricent® ALD Slide: 9
Slide 10: Compound Semiconductor Systems
Compound Semiconductor Systems Leading edge design to manufacturing Planetary Reactor® Flexible wafer configuration from 2”-300mm AIX 2800G4, 42x2” Configurable common platform Integrated automated solutions Operations Customized turn-key solutions Proven industry standard & market leader Integrated
Slide 11: Global MOCVD Market Shares
Global MOCVD Market Shares 2006 2007 2008 Total: $202m Total: $289m Total: $486m 7% 2% Operations 2% 4% 10% 14% 19% 62% 18% 20% 70% 72% AIXTRON Veeco Nippon Sanso Others Based on VLSI RESEARCH Inc. 2008, Gartner Dataquest 2009 Slide: 11
Slide 12: Silicon Semiconductor Systems
Silicon Semiconductor Systems Consumer Electronics continue to drive the ALD/AVD® System NAND flash and DRAM industry Comprehensive AIXTRON-portfolio: CVD, ALD, AVD® ALD/AVD®: film qualifications for new materials Operations in transistors & capacitors Combined ALD/AVD® technology (JDP with Asian Se
Slide 13: Business Development and Convergence
Business Development and Convergence 9M/2009 Compound Semiconductors Silicon Semiconductors (including Organics) €158.2m equipment1) €9.3m equipment1) Operations Revenues revenues (-2% yoy) revenues (-9% yoy) 86% of total2) revenues 5% of total2) revenues Equipment €206.7m (-2% yoy) €0.6m (-95% yoy)
Slide 14: Revenues by Region
Revenues by Region 2006: €171.7m 2007: €214.8m 2008: €274.4m 9M/2009: €184.9m 8% 10% 6% 5% Operations 13% 14.3 9% 21.9 7% 17.8 15% 9.3 18.5 28.4 22.2 18.8 135.2 174.1 147.2 238.1 79% 81% 87% 80% USA Europe Asia Slide: 14
Slide 15: Equipment Revenues by Application
Equipment Revenues by Application 300 AIXTRON Equipment Revenues (excl. spares) in m EUR 250 200 Operations 150 100 50 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 9M/09 LED Telecom/Datacom Consumer-/Optoelectronics Solar Display & others Silicon Slide: 15
Slide 16: LED-Market Outlook (< 2013)
LED-Market Outlook (< 2013) Mo b ile A p plian ces ays l Industry & Markets p is Ill D um & s in gn Si at Indoor io Monitor BLU n Special Lighting Full Color Public Display Aut Lighting Single Color Public Display Outdoor o mot Photo Flash Lighting TV BLU Display BL Headlights ive Notebook BLU Exter
Slide 17: High Brightness LED Market Forecast
High Brightness LED Market Forecast HB LED summary forecast by application in m USD 2008 16,000 16% 16% Industry & Markets 14,000 % 10% 24 12,000 Market Size (USD million) G R 10,000 CA 15% 42% 8,000 1% 6,000 4,000 2013e 8% 2,000 0 19% 2008 2009e 2010e 2011e 2012e 2013e 48% Signs / Displays Mobile A
Slide 18: LCD TV BLU Market Forecast
LCD TV BLU Market Forecast Positive trend (2008-2012) towards technology acceptance Research opinion ranges Industry & Markets in market size (TAM) in penetration rate 200 100% LED BLU penetration (%) Total LCD-TV Market & LED Penetration LCD TV BLU (m units) 160 80% 120 60% 80 40% 40 20% 0 0% 2008
Slide 19: MOCVD Market Estimates for HB LEDs
MOCVD Market Estimates for HB LEDs Research opinion ranges Industry & Markets Strong unit growth – 5 year CAGR of 25% of total HB LED Market Improved visibility for SSL 150 HB LEDs in Billion Units CAGR: 82% 100 CAGR: 145% 50 0 2006 2007 2008 2009e 2010e 2011e 2012e 2013e Mobile Display Lighting Bas
Slide 20: MOCVD Equipment Estimates for HB LEDs
MOCVD Equipment Estimates for HB LEDs Bear, Bear, Consensus Consensus and and Bull Bull Outlook Outlook for for 2012 2012 Research opinion ranges in market size (TAM) Industry & Markets required equipment capacity 50 700 Annual MOCVD Tool Demand HB LED Incremental Demand (Billion Units) bar graphs f
Slide 21: Examples of Products with LEDs
Examples of Products with LEDs Samsung AIXTRON Phone AG, Aachen▪ Audi R8 LED Headlight ▪ LED Toshiba Portégé R500 Industry & Markets LED Street Lighting ▪ Samsung LED TV ▪ Nimbus LED Ceiling Light 12 W Slide: 21
Slide 22: Quarterly Business Development
24 - Month Business Development (€ million) 117.6 86.9 85.5 72.5 Equipment (only) 52.2 57.9 40.6 Business Trends Order Intake 31.2 157.3 165.1 158.1 152.4 132.0 105.0 100.7 109.4 Equipment (only) Order Backlog 82.3 82.0 62.6 65.6 63.9 Total Revenues 46.2 56.7 (incl. equipment, 54.1 service, spare pa
Slide 23: Group Income Statement
Group Income Statement (€ million, unaudited) 9M/09 9M/08 +/- Q3/09 Q3/08 +/- Revenues 184.9 192.1 -4% 82.0 63.9 28% Cost of sales 105.7 114.8 -8% 47.3 37.0 28% Financials Gross profit 79.2 77.3 2% 34.7 26.9 29% Gross Margin 43% 40% +3 pp 42% 42% +0 pp Selling expenses 16.3 20.5 -20% 6.8 5.9 15% Gen
Slide 24: Group Balance Sheet
Group Balance Sheet (€ million, unaudited) 30/09/09 31/12/08 30/09/08 Property, plant & equipment 32.8 39.3 38.0 Goodwill 57.1 58.7 59.3 Other intangible assets 7.8 10.3 10.9 Financials Others 14.2 9.1 12.1 Non-current assets 111.9 117.4 120.3 Inventories, WIP & Finished Goods 78.4 77.1 97.6 Trade r
Slide 25: Group Cash Flow Statement
Group Cash Flow Statement (€ million, unaudited) 9M/2009 9M/2008 Cash Flow from operating activities 44.5 14.7 Cash Flow from investing activities -31.8 -23.4 Financials Cash Flow from financing activities -5.1 -5.1 (incl. exchange rate changes) Net change in Cash & Cash Equivalents 7.6 -13.7 Cash &
Slide 26: Revised 2009 Guidance Model
Revised 2009 Guidance Model 2009 revised revenue guidance: €280m 2009 increased EBIT guidance: 18% EBIT margin (€ million) Outlook ‘shippable’ equipment orders out 9M/2009 actual total of €152m total 30/09/09 backlog 88 revenue Assumed Q4/2009 spares & 7 non-equipment revenues 185 Slide: 26
Slide 27: Market Prospects
Market Prospects Short -Term Increasing penetration of LED backlighting in TVs LEDs for increasing automotive applications Early street light orders Mid-Term Outlook Increasing LED backlighting for monitors Emerging general/interior lighting device applications Emerging e-reader applications Silicon
Slide 28: Key Takeaways
Key Takeaways Rapid & Sustainable Market Development: Evidence of faster penetration of TV LED-backlighting Increasing momentum for lighting applications Ecological awareness increasingly influencing consumer behavior Summary Rising interest in tools with bigger wafer configurations Increased output
Slide 29: Financial Calendar & Contact Data
Financial Calendar & Contact Data March 11, 2010 Full Year 2009 Results, Conference in Frankfurt April 29, 2010 Q1/2010 Results, Conference Call May 18, 2010 Annual General Meeting, Eurogress Aachen Contact July 29, 2010 First Half 2010 Results, Conference in Frankfurt For further information please
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Slide 31: New Technologies – New Applications
New Technologies – New Applications Development of Gen 3.5 Tool for Plastic Logic – Plastic Electronics potential flexible display structure Appendix Slide: 31
Slide 32: New Technologies – New Opportunities
New Technologies – New Opportunities AIXTRON Nanoinstruments – Carbon Nanotubes Unique Properties Application Examples Very high thermal conductivity Electronics Appendix Very low resistivity Heat Sinks Very high mechanical stability Field Emission Display Graphene sheet Carbon Nanotube structure Ro
Slide 33: Advanced Technology Requirements
Advanced Technology Requirements Word Line DRAM 1000 CVD Metal Control Gate NAND Atomic Level Solutions Appendix Layer thickness [Å] 100 Metal Electrode and AVD® High-k Dielectric eDRAM 10 Metal Electrode and ALD High-k Dielectric DRAM 1 1 10 100 Aspect ratio Slide: 33
Slide 34: Films for Logic and Memory Transistors
Films for Logic and Memory Transistors Metal / Metal Silicide on Poly Gate Stack DRAM Capacitors FeRAM Capacitors CVD ALD (Dielectric) AVD® ALD + AVD® (Electrode) Metal Gate AVD® Sidewall Spacers ALD + AVD® Appendix High-k Gate Dielectrics AVD® Integrated Flash Floating Gate Capacitors Interpoly & T
Slide 35: AIXTRON Share Price
AIXTRON Share Price AIXTRON (YTD until September 30) 20.00 AIXTRON (in EUR) 18.00 TecDax indexed EUR 1.5bn Market Cap @ EUR 16.42 16.00 Appendix 14.00 12.00 EUR 1bn Market Cap @ EUR 10.95 10.00 8.00 6.00 4.00 2.00 14-Aug 29-Aug 01-Apr 16-Apr 15-Jun 30-Jun 15-Jul 30-Jul 02-Mar 17-Mar 01-Jan 16-Jan 31
Slide 36: Group Income Statement FY 2008
Group Income Statement FY 2008 (€ million) 2008 2007 +/- Revenues 274.4 214.8 28% Cost of sales 161.5 129.8 24% Appendix Gross profit 112.9 85.0 33% Gross Margin 41% 40% +1 pp Selling Expenses 27.8 27.2 2% General & Administration Expenses 18.0 16.0 13% R&D 28.3 26.5 7% Net other operating income (e
Slide 37: Group Cash Flow Statement FY 2008
Group Cash Flow Statement FY 2008 (€ million) 2008 2007 Cash Flow from operating activities 15.9 32.9 Cash Flow from investing activities -11.4 -10.5 Appendix Cash Flow from financing activities -8.9 2.9 (incl. exchange rate changes) Net change in Cash & Cash Equivalents -4.5 25.2 Cash & Cash Equiva
Slide 38: Compound Equipment Order Intake per Quarter
Compound Equip. Order Intake per Quarter 140 driven by LED TV 120 driven by notebook Appendix 100 driven by backlighting telecom/datacom 80 and mobile phone driven by mobile phone penetration 60 40 20 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 39: AIXTRON Group Worldwide Production
AIXTRON Group Worldwide Production AIXTRON AG, Aachen, Germany Production Sites Slide: 39
Slide 40: AIXTRON Group Worldwide Production
AIXTRON Group Worldwide Production AIXTRON Ltd., Cambridge, UK Production Sites Slide: 40
Slide 41: AIXTRON Group Worldwide Production
AIXTRON Group Worldwide Production Production Sites AIXTRON Inc., Sunnyvale/USA Slide: 41
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