Aixtron Se · XETR:AIXA
Aixtron — Investor Presentation (February 2017)
37 slides from Aixtron's investor presentation, February 2017
Slide 1: AIXTRON Investor Presentation – IR Presentation FY 2016
AIXTRON Investor Presentation IR Presentation – FY 2016 (FSE: AIXA, ISIN DE000A0WMPJ6) © AIXTRON Investor Relations, February 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: 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 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: AIXTRON – Enabling an Innovative Future
AIXTRON TECHNOLOGIES AND PRODUCTS 6 AIXTRON –Enabling an Innovative Future New Complex Materials Tech Trends Compound Semiconductors • GaAs/ GaN (Sensors) • GaN/SiC (RF/Power – Mobile) LOREM • GaAs/InP (Laser - Datacom) • GaN (LED – LiFi, Micro-LED, UV LED) Silicon Semiconductors Big Data LOREM • II
Slide 7: Our Technology Portfolio
AIXTRON TECHNOLOGIES AND PRODUCTS 7 Our Technology Portfolio Silicon Compound Semiconductors Organic Carbon Semiconductors MOCVD ALD/MOCVD OVPD®/PVPD®/TFE PECVD LEDs, Lasers and Power Management Silicon Graphene, Organic Electronics Optoelectronics GaN / SiC Semiconductors CNTs and CNWs • LEDs for d
Slide 8: Revenue Analysis
OPERATIONS 8 Revenue Analysis FY 2016: FY 2016: FY 2016: by equipment & spares by end application by region (equipment only) 5% 34% 19% 21% 26% 16% 65% 21% 79% 14% LED Equipment Silicon Asia Spares Power Electronics Europe Optoelectronics USA Others
Slide 9: 24-Month Business Development
FINANCIALS 9 24 - Month Business Development (€ million) Total Order Intake 69.0 52.5 60.5 (incl. equipment, 50.2 49.3 48.9 44.4 51.1 34.4 31.3 service, spare parts) @ $1.35 @ $1.25 @ $1.10 Equipment (only) 91.2 86.2 104.0 79.0 78.1 Order Backlog 70.7 65.2 72.3 67.7 42.9 @ $1.35 @ $1.25 @ $1.10 89.8
Slide 10: Consolidated Income Statement
Financials 10 Consolidated Income Statement* (€ million) FY/16 FY/15 +/- Q4/16 Q4/15 +/- Revenues 196.5 197.8 -1% 89.8 62.5 44% Cost of sales 140.2 147.9 -5% 60.5 42.8 41% Gross profit 56.3 49.8 13% 29.4 19.6 50% Gross Margin 29% 25% 4 pp 33% 31% 2 pp Selling expenses 13.8 11.5 20% 4.8 2.6 85% Gener
Slide 11: Consolidated Statement of Financial Position
Financials 11 Consolidated Statement of Financial Position* (€ million) 31/12/16 30/09/16 31/12/15 Property, plant & equipment 74.2 75.6 81.3 Goodwill 74.6 73.8 75.9 Other intangible assets 5.4 5.5 6.4 Others 2.4 3.6 3.9 Non-current assets 156.5 158.5 167.6 Inventories, WIP & Finished Goods 54.2 79.
Slide 12: Consolidated Statement of Cash Flows
Financials 12 Consolidated Statement of Cash Flows* (€ million) FY/16 FY/15 Q4/16 Q3/16 Cash Flow from operating activities -37.7 -45.7 -2.7 4.3 Cash Flow from investing activities 43.4 41.2 4.1 12.9 Cash Flow from financing activities 0.3 -0.1 0.1 0.2 Exchange rate changes -2.3 4.3 1.2 -0.9 Net cha
Slide 13: Market Prospects
FUTURE MARKETS 13 Market Prospects Short-Term • Further increasing adoption of LEDs and specialty LEDs (in particular Red-Orange-Yellow, UV or IR) for Display and other applications • Increased emergence of wide-band-gap GaN or SiC based devices for energy efficient power management and communicatio
Slide 14: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 14
Slide 15: Compound Semiconductors – Enabling Breakthrough Technologies
AIXTRON TECHNOLOGIES AND PRODUCTS 15 Compound Semiconductors – Enabling Breakthrough Technologies Hyperscale Data Centers Faster Connectivity (Optical, Lasers, Communication) Power Management Mobile Applications 3D Gesture Sensing (Power) (Optics, Lasers) Advanced Processors Wireless Charging (III-V
Slide 16: AIXTRON – Enabling Emerging Global Mega Trends
AIXTRON TECHNOLOGIES AND PRODUCTS 16 AIXTRON – Enabling Emerging Global Mega Trends Computing Hyperscale Datacenters Silicon AR / VR Photonics Wireless 3D Charging GaN Gesture Sensors GaAs SiC 5G Network Autonomous InP ZnO Driving Smart AIXTRON Lighting InSb Pure Play Ge Electric Vehicle Epitaxy Mic
Slide 17: AIXTRON – Enabling Emerging Global Mega Trends
AIXTRON TECHNOLOGIES AND PRODUCTS 17 AIXTRON – Enabling Emerging Global Mega Trends Applications for Global Mega Trends Material Revolution • Global Megatrends in Mobility, Connectivity and Performance fueling Demand for Leading Edge Deposition Technology Key Enabling Position • Advanced III-V Compo
Slide 18: Short Term: Compound Semiconductors in Next-Gen CE Applications
AIXTRON TECHNOLOGIES AND PRODUCTS 18 Short Term: Compound Semiconductors in Next-Gen CE Applications Source: Gartner; Credit Suisse, DB, Stifel AIXTRON Enables GaAs Applications Potential CE markets (2017e) RF Power transistors HMIC Pin diode ~3bn units RF Switches Smartphones: 1.55 bn units MMI
Slide 19: Mid Term: Compound Semiconductors in Connected Vehicles
AIXTRON TECHNOLOGIES AND PRODUCTS 19 Mid Term: Compound Semiconductors in Connected Vehicles Source: Gartner; Baader, Bernstein, DB, Stifel AIXTRON Enables GaAs Applications Potential EV, BEV and PHEV ~ 4m units in 2020e Vehicle speed sensing (IR) Power Semiconductor content per car Night vision
Slide 20: Long Term: Compound Semiconductors in Smart Homes
AIXTRON TECHNOLOGIES AND PRODUCTS 20 Long Term: Compound Semiconductors in Smart Homes Source: Gartner; Credit Suisse, DB, Stifel AIXTRON also in... AIXTRON Enables GaAs Applications Smart homes: Self-sufficient, OLED CNT based Night vision IR Terrestrial CPV environmentally friendly and LiB FTTH
Slide 21: Compound Semiconductors – Evolving Applications
AIXTRON TECHNOLOGIES AND PRODUCTS 21 Compound Semiconductors – Evolving Applications LED AIXTRON Revenues CAGR 2013 -2016 30% Power 25% Enabling Technologies 20% 15% Compound 10% Semi- Optics, Lasers conductors 5% 0% -5% Communications -10% -15% AIXTRON Group LED Equipment Power Optoelectronic Reven
Slide 22: Compound Semiconductors – Wide-Band-Gap (WBG) Power Electronics
AIXTRON TECHNOLOGIES AND PRODUCTS 22 Compound Semiconductors – 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 • U
Slide 23: Compound Semiconductors – Wide Band Gap (WBG) Power Electronics
AIXTRON TECHNOLOGIES AND PRODUCTS 23 Compound Semiconductors – Wide Band Gap (WBG) Power Electronics Source: DOE, IHS 2016 WBG GaN and SiC based Power Management Device Shipments ~9x CAGR: 24% ~5x 1x (2015: Indexed=1x) 2015 2022e 2025e Higher- Reduced Energy High Voltage Improved power Higher temper
Slide 24: Silicon Semiconductors – Leading Edge Technologies
AIXTRON TECHNOLOGIES AND PRODUCTS 24 Silicon Semiconductors – Leading Edge Technologies Source: Gartner 2016 At the forefront to extend Moore’s Law Memory Logic transistor Interconnects (ALD) (MOCVD- III-V) (Graphene/CNT) >5x ≤14nm Fab Capacities “More than Moore” ~1.1x Total Fab Capacities (2016: I
Slide 25: Silicon Semiconductors – ALD
AIXTRON TECHNOLOGIES AND PRODUCTS 25 Silicon Semiconductors – ALD Product Description – ALD • 300mm ALD Technology • QXP-8300 Mini-batch system • High throughput : 2 Process Chambers – 8 stations “Best-in class technology, state of the art • Up to 3 vaporizers and one bubbler deposition system, lowe
Slide 26: Carbon Nanomaterials – PECVD
AIXTRON TECHNOLOGIES AND PRODUCTS 26 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 platform: BM R&D (2-inch),
Slide 27: Organic Electronics – OVPD + Encapsulation
AIXTRON TECHNOLOGIES AND PRODUCTS 27 Organic Electronics – OVPD® + Encapsulation 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 Te
Slide 28: Organic Electronics – OVPD
AIXTRON TECHNOLOGIES AND PRODUCTS 28 Organic Electronics – OVPD® 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 scalability: suitable for all
Slide 29: Organic Electronics – OPTACAP PECVD
AIXTRON TECHNOLOGIES AND PRODUCTS 29 Organic Electronics – OPTACAP™ PECVD Product Description – OptaCap™ PECVD Proprietary PECVD technology based on linear plasma sources Based on AIXTRON‘s core competence of carrier gas enhanced vapor phase deposition “Disruptive deposition technology Free sc
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 (EUR million) Q1/00 Q2/00 Q3/00 Q4/00 Q1/01 telecom/datacom and mobile phone Q2/01 Q3/01 Q4/01 Q1/02 Q2/02 Q3/02 Q4/02 Q1/03 Compound Semiconductor Market Q2/03 Q3/03 Q4/03 mobile phone driven by penetration Q1
Slide 31: Annual Equipment Revenues by Application (excl. spares)
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* (€ 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** Gross Margin 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 66.7 Net other op.(incom
Slide 33: Consolidated Statement of Financial Position
FINANCIALS 33 Consolidated Statement of Financial Position* (€ 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 70.
Slide 34: Consolidated Statement of Cash Flows
FINANCIALS 34 Consolidated Statement of Cash Flows* (€ 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 5.9 Net change in Cash & Cash Equiv
Slide 35: Global Presence
ABOUT AIXTRON 35 Global Presence AIXTRON SE Headquarters AIXTRON Ltd. AIXTRON Inc. Herzogenrath, Germany Cambridge, United Kingdom Sunnyvale, California, USA Core of AIXTRON’s activities is Focus on key MOCVD reactor Focus on silicon applications for the Technology and R&D Center component technolog
Slide 36: Financial Calendar & Contact Data
36 Financial Calendar & Contact Data • April 25, 2017 Q1/2017 Results, Conference Call • May 9, 2017 Annual General Meeting, Aachen • July 25, 2017 H1/2017 Results, Conference Call • October 26, 2017 9M/2017 Results, Conference Call For further information please contact: Investor Relations & Corpor
Slide 37: Thank you very much for your attention.
Thank you very much for your attention. AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mail invest@aixtron.com