Aixtron Se · XETR:AIXA
Aixtron — Investor Presentation (October 2017)
36 slides from Aixtron's investor presentation, October 2017
Slide 1: AIXTRON Investor Presentation
AIXTRON Investor Presentation IR Presentation – 9M/2017 (FSE: AIXA, ISIN DE000A0WMPJ6) © AIXTRON Investor Relations, October 2017
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
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 in Herzogenrath, Germany Technology leader in deposition systems Worldwide presence with 13 sales/representatives offices More than 3,000 deposition systems delivered and production facilities all over the world Company founded in 1983 – over 3
Slide 5: Global Presence
ABOUT AIXTRON 5 Global Presence
Slide 6: Technology Portfolio – Strategy
CORPORATE STRATEGY 6 Technology Portfolio – Strategy Executing Strategic Plans: NANO OVPD/ PVPD Innovation Pool APEVA SE Partner: APEVA / OLED Deposition Partner Established APEVA SE as AIXTRON subsidiary; Joint Venture discussions in progress AIXTRON SE Freezing R&D: TFOS & TFE ALD/CVD MOCVD
Slide 7: Technology Portfolio – MOCVD Core Technology
AIXTRON TECHNOLOGIES AND PRODUCTS 7 Technology Portfolio AIXTRON SE MOCVD Core Technology Opto & Power Electric Vehicles Photonics (e.g. VCSEL for 3D Sensing, Lasers for CE, SiC Datacom) Power Internet of Things (e.g. EVs, Specialty Charging LED Stations, MicroLED-, Fine Infrastructure) Pitch Displa
Slide 8: Revenue Analysis
OPERATIONS 8 Revenue Analysis* * Rounded figures; may not add up 9M/2017: 9M/2017: 9M/2017: by equipment & spares by end application by region (equipment only) 2% 12% 18% 16% 13% 13% 45% 82% 75% 24% LED Equipment Silicon Asia Spares Power Electronics Europe Optoelectronics USA Others
Slide 9: 24-Month Business Development
FINANCIALS 9 24 - Month Business Development (€ million) Order Intake (incl. equipment, 69.0 61.9 66.6 69.4 60.5 44.4 51.1 service, spare parts) 31.3 @ $1.25 @ $1.10 @ $1.10 Order Backlog 104.0 93.4 99.2 86.2 87.6 (equipment only) 67.7 78.1 42.9 @ $1.25 @ $1.10 @ $1.10 Total Revenues 89.8 62.2 (incl
Slide 10: Consolidated Income Statement
FINANCIALS 10 Consolidated Income Statement* * Rounded figures; may not add up **Q3/17 adjusted vs Q2/17 adjusted Q3/17 Q2/17 +/- (€ million) Adjusted Adjustment Actual Adjusted Restructuring Actual %** Revenues 57.6 -4.6 62.2 60.6 60.6 -5 Cost of sales 37.5 37.5 45.9 45.9 -18 Gross profit 20.1 -4.6
Slide 11: Consolidated Income Statement
FINANCIALS 11 Consolidated Income Statement* * Rounded figures; may not add up **9M/17 adjusted vs 9M/16 actual 9M/17 9M/16 +/- (€ million) Adjusted Adjusted Actual Actual %** Revenues 171.7 -4.6 176.3 106.6 61 Cost of sales 121.0 123.3 79.7 52 Gross profit 50.8 -2.2 53.0 26.9 89 % 30 30 25 5 pp Sel
Slide 12: Balance Sheet
FINANCIALS 12 Balance Sheet* * Rounded figures; may not add up (€ million) 30/09/17 30/06/17 31/12/16 Property, plant & equipment 64.0 65.3 74.2 Goodwill 71.1 68.7 74.6 Other intangible assets 1.8 1.5 5.4 Others 1.9 2.1 2.4 Non-current assets 138.8 137.5 156.5 Inventories 40.2 36.4 54.2 Trade receiv
Slide 13: Consolidated Statement of Cash Flows
FINANCIALS 13 Consolidated Statement of Cash Flows* * Rounded figures; may not add up (€ million) 9M/17 9M/16 Q3/17 Q2/17 Net Result -20.6 -30.4 4.3 -11.4 Adjust for Non Cash Items 16.8 9.8 2.6 6.8 Changes in Working Capital 60.4 -14.5 6.3 13.3 Cash Flow from Operating Activities 56.5 -35.0 13.2 8.7
Slide 14: Market Prospects
FUTURE MARKETS 14 Market Prospects Short-Term • Increasing emergence of compound semiconductor based laser devices such as VCSELs for sensors in automotive and mobile applications. • Increasing emergence of compound semiconductor based laser devices for ultrafast Telecom and Datacom infrastructure a
Slide 15: AIXTRON – Enabling Emerging Global Mega Trends
AIXTRON TECHNOLOGIES AND PRODUCTS 15 AIXTRON – Enabling Emerging Global Mega Trends Autonomous Driving Materials Applications Wireless Charging AIX G5 GaN GaAs Micro-LED 3D Sensing SiC InP Smart Home AIX G4 InSb ZnO Ge … Electric Vehicles AIX R6 Thin-film III–V Solar cells
Slide 16: Application: Short Term – Compound Semis in Next-Gen CE
AIXTRON TECHNOLOGIES AND PRODUCTS 16 Application: Short Term – Compound Semis in Next-Gen CE Source: Gartner; Credit Suisse, Deutsche Bank, Stifel AIXTRON Enables GaAs Applications Potential CE markets (2017e) RF Power transistors HMIC Pin diode ~3bn units RF Switches Smartphones: 1.55 bn units
Slide 17: Application: Mid Term – Compound Semis in Connected E-Vehicles
AIXTRON TECHNOLOGIES AND PRODUCTS 17 Application: Mid Term – Compound Semis in Connected E-Vehicles Source: Gartner; Baader, Bernstein, Deutsche Bank, Stifel AIXTRON Enables GaAs Applications Potential EV, BEV and PHEV ~ 4m units in 2020e Vehicle speed sensing (IR) Power Semiconductor content pe
Slide 18: Application: Long Term – Compound Semis in Smart Homes
AIXTRON TECHNOLOGIES AND PRODUCTS 18 Application: Long Term – Compound Semis in Smart Homes Source: Gartner; Credit Suisse, Deutsche Bank, Stifel AIXTRON also in... AIXTRON Enables GaAs Applications Smart homes: Self-sufficient, OLED CNT based Night vision IR Terrestrial CPV environmentally friend
Slide 19: AIXTRON Opto & Power – Positioned for Profitable Growth
AIXTRON TECHNOLOGIES AND PRODUCTS 19 AIXTRON Opto & Power – Positioned for Profitable Growth * WSPM: wafer starts per month; Source: IHS, LEDinside, AIXTRON estimates AIXTRON Position Planetary system Power (e.g. EVs, Charging Stations #1 78% Wireless Charging, AIX G5 GaN RF) Specialty higher LED (e
Slide 20: Overview: GaN/SiC as Wide Band Gap Power Electronics
AIXTRON TECHNOLOGIES AND PRODUCTS 20 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 21: Devices: GaN/SiC Power Electronics – Superior Performance
AIXTRON TECHNOLOGIES AND PRODUCTS 21 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 22: Devices: VCSEL – Internet of Things Creates New Opportunities
AIXTRON TECHNOLOGIES AND PRODUCTS 22 Devices: VCSEL – Internet of Things Creates New Opportunities Source: icons from www.flaticon.com 3D Sensing Functionality Facial Recognition Autonomous Driving VCSEL Processor Tailor-made clothing/shoes Interior Design Sensor/Receiver …… Mapping Industry 4.0
Slide 23: Devices: ROY LEDs for RGB Displays; UV LEDs for Niche Markets
AIXTRON TECHNOLOGIES AND PRODUCTS 23 Devices: ROY LEDs for RGB Displays; UV LEDs for Niche Markets Source: LEDinside ROY LED UV LED Curing ● ● ● ● ● ● ● ● ● ● ● ● RGB Fine-Pitch Indoor Display ● ● ● ● ● ● (Pixel Pitch ≤2.5mm) ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● Water Disinfection RGB Stadium Outdoor
Slide 24: Devices: MicroLED – The Perfect Future Display Technology
AIXTRON TECHNOLOGIES AND PRODUCTS 24 Devices: MicroLED – The Perfect Future Display Technology Source: LEDinside RGB ● ● ● Self-Emissive MicroLED ● ● ● ● ● ● Display 1 Wearables Low Power 100 Consumption Perfect AR/VR Contrast ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● High Signage ● ● ●
Slide 25: AIXTRON Competitive Landscape
INDUSTRY 25 AIXTRON Competitive Landscape USA Europe China Korea Japan GaAs/InP Compound Optoelectronics, ROY LED GaN LED TOPEC GaN Power SiC Power Silicon Organics 09. Mai 2017 | Pullman Aachen Quellenhof
Slide 26: Organic Electronics – OVPD – APEVA SE
APEVA SE TFE AIXTRON TECHNOLOGIES AND PRODUCTS 26 Partner Frozen Organic Electronics – OVPD® – APEVA SE Source: DisplaySearch, AIXTRON OLED manufacturing process Cleaning Cleaning Glass cutting ITO deposition Organic material deposition Bonding Coating Etching Cathode deposition Aging Stripping Enca
Slide 27: Organic Electronics – OVPD – APEVA SE
APEVA SE AIXTRON TECHNOLOGIES AND PRODUCTS 27 Partner Organic Electronics – OVPD® – APEVA SE Product Description – OVPD Proprietary carrier-gas enhanced gas phase deposition approach for organic thin films Based on AIXTRON‘s core competence of carrier gas enhanced vapor phase deposition Free s
Slide 28: Carbon Nanomaterials – PECVD
NANO AIXTRON TECHNOLOGIES AND PRODUCTS Innovation 28 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 platf
Slide 29: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 29
Slide 30: Equipment Order Intake per Quarter
0 50 100 150 200 250 OPERATIONS Q1/98 Q2/98 Q3/98 Q4/98 Q1/99 Q2/99 Q3/99 driven by Q4/99 Q1/00 (EUR million) Q2/00 Q3/00 Q4/00 Q1/01 telecom/datacom Q2/01 and mobile phone Q3/01 Q4/01 Q1/02 Q2/02 Q3/02 Q4/02 Q1/03 Q2/03 Q3/03 Compound Semiconductor Market Q4/03 Q1/04 Q2/04 mobile phone driven by pe
Slide 31: Annual Equipment Revenues by Application
OPERATIONS 31 Annual Equipment Revenues by Application (excl. spares) 800 (EUR million) 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 LED Silicon Power Electronics Optoelectronics* Others * Optoelectronics includes application
Slide 32: Consolidated Income Statement
FINANCIALS 32 Consolidated Income Statement* * Rounded figures; may not add up (€ million) 2016 2015 2014 Revenues 196.5 197.8 193.8 Cost of sales 140.2 147.9 154.1** Gross profit 56.3 49.8 39.7** % 29% 25% 20% Selling expenses 13.8 11.5 14.1** General & admin expenses 17.1 16.3 19.3 R&D 53.9 55.4 6
Slide 33: Balance Sheet
FINANCIALS 33 Balance Sheet* * Rounded figures; may not add up (€ million) 31/12/16 31/12/15 31/12/14 Property, plant & equipment 74.2 81.3 77.3 Goodwill 74.6 75.9 64.8 Other intangible assets 5.4 6.4 2.5 Others 2.4 3.9 4.6 Non-current assets 156.5 167.6 149.2 Inventories, WIP & Finished Goods 54.2
Slide 34: Consolidated Statement of Cash Flows
FINANCIALS 34 Consolidated Statement of Cash Flows* * Rounded figures; may not add up (€ million) 2016 2015 2014 Cash Flow from operating activities -37.7 -45.7 -33.8 Cash Flow from investing activities 43.4 41.2 -23.2 Cash Flow from financing activities 0.3 -0.1 0.2 Exchange rate changes -2.3 4.3 5
Slide 35: Financial Calendar & Contact Data
35 Financial Calendar & Contact Data • February 27, 2018 FY/2017 Results, Conference Call • April 26, 2018 Q1/2018 Results, Conference Call • May 16, 2018 2018 Annual General Meeting, Aachen, Germany • July 26, 2018 Q2/2018 Results, Conference Call • October 30, 2018 Q3/2018 Results, Conference Call
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