Slide 1: FY 2023 Investor Presentation
FY 2023 Investor Presentation Dr. Felix Grawert, CEO Dr. Christian Danninger, CFO 29 February 2024
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 – Full Year 2023 Highlights
AIXTRON – Full Year 2023 Highlights FY/2023: Successful Continuation of Growth Trajectory - Guidance Delivered ▪ 36% yoy revenue growth to EUR 630m ▪ 43% yoy gross profit growth with 44% gross margin (+2pp yoy increase) ▪ 50% EBIT growth to EUR 157m with EBIT-Margin of 25% (+2pp yoy) ▪ 45% Net Profi
Slide 4: Update Innovation Center
Update Innovation Center Innovation Center construction is fully on track Picture shows construction status end of January 2024 3
Slide 5: Consolidated Income Statement
Consolidated Income Statement1 (EUR million) FY/23 FY/22 +/- (%) Q4/2023 Q4/2022 +/- (%) Revenues 629.9 463.2 36% 214.2 183.2 17% Cost of sales 350.8 267.9 31% 116.0 101.0 15% Gross profit 279.0 195.3 43% 98.2 82.2 19% Gross margin 44% 42% 2pp 46% 45% 1pp Selling expenses 14.1 11.2 26% 4.0 3.4 18% G
Slide 6: Consolidated Balance Sheet
Consolidated Balance Sheet1 (EUR million) 31.12.23 30.09.23 31.12.22 Property, plant & equipment and leased assets 147.8 106.2 99.0 Goodwill 72.3 72.8 72.5 Other intangible assets 4.4 3.3 3.3 Others 41.8 36.6 35.0 Non-current assets 266.3 218.9 209.7 Inventories 394.5 380.5 223.6 Trade receivables 1
Slide 7: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows1,2 (EUR million) FY/23 FY/22 Q4/2023 Q4/2022 Net result 145.2 100.5 61.7 50.3 Adjust for: Non-cash items 7.5 5.7 (1.5) 3.3 Changes in Working Capital (200.0) (69.1) (41.8) (53.7) Cash flow from operating activities (47.3) 37.1 18.4 (0.1) Capital expenditures/disp
Slide 8: AIXTRON – Guidance for Q1/2024 and FY/2024 introduced
AIXTRON – Guidance for Q1/2024 and FY/2024 introduced1 EUR million Guidance1 Q1/2024 FY/2024 Revenue Guidance FY/2024 EUR million Revenues EUR 100m – 120m EUR 630m – 720m ~80 ~100 ~ 120 Gross Margin (%) 43% – 45% ~ 190 -280 ~370 ~300 ~ 320 EBIT Margin (%) 24% – 26% 2024 Revenues from After Sales 202
Slide 9: 24 Months Business Development
24 Months Business Development EUR million Order Intake Revenues Order Backlog (incl. equipment & after sales)1 (incl. equipment & after sales)2 (equipment only)1 @ $1.20 @ $1.15 @ $1.06 @ $1.08 @ $1.20 @ $1.15 418 412 369 368 352 354 314 214 260 204 178 183 173 165 153 160 143 140 130 118 102 89 89
Slide 10: FY/23 Revenue Analysis
FY/23 Revenue Analysis1 Equipment & After Sales End Application (equipment only) Regional Split 2% 15% 11% 20% 12% 75% 50% 30% 85% Equipment Power Electronics Asia After Sales Optoelectronics & Communications² Europe LED incl. Micro LED Americas 1 Rounded figures; may not add up Other incl. R&D 2 in
Slide 11: Annual Total Revenues by Application (including After Sales)
Annual Total Revenues by Application (including After Sales) EUR million 630-720e 630 463 429 269 260 269 230 196 2016 2017 2018 2019 2020 2021 2022 2023 2024 LED incl. Micro LED Power Electronics Optoelectronics and Communication Other incl. R&D After Sales Silicon² FY24 Guidance Range 1 Includes a
Slide 12: Demand Drivers on Order Intake per Quarter (Equipment Only)
Demand Drivers on Order Intake per Quarter (Equipment Only) EUR million SiC & GaN Power Equipment Demand Electronics & Micro LED 180 170 160 SiC Power Electronics 150 140 GaN Power Electronics, 130 Lasers, ROY & Micro LEDs 120 110 WBG Power Electronics, 100 Lasers, ROY LEDs 90 3D Sensing 80 Lasers (
Slide 13: EU Taxonomy Alignment & ESG-Ratings
EU Taxonomy Alignment & ESG-Ratings FY/2023: Revenues1 EU Taxonomy Aligned Technologies ESG-Ratings ▪ Wide Band Gap (WBG) Power ▪ CDP (Europe): 27% 73% Taxonomy Aligned Semiconductors based on: ▪ 2023: D (B) ▪ Gallium Nitride (GaN) and ▪ 2022: C (B) Taxonomy Non-Aligned ▪ Silicon Carbide (SiC) Key t
Slide 14: What We Do
What We Do AIXTRON - a leading global supplier of Deposition Equipment for the Compound Semiconductor Industry 13
Slide 15: Our Technology Portfolio for the Deposition of Complex Materials
Our Technology Portfolio for the Deposition of Complex Materials GaN Power & RF Lasers (VCSEL/EEL) (e.g., Fast Charging, IT Power (e.g., Optical Datacom, Machine Optoelectronics / LEDs Supply, 5G, Wireless Vision, 3D Sensing, LiDAR) Power Management Communication) MOCVD Core Technology SiC Power Mic
Slide 16: AIXTRON - Market Position in MOCVD Deposition Equipment
AIXTRON - Market Position in MOCVD Deposition Equipment 2020 2021 2022 USD 438m USD 561m USD 566m AIXTRON Veeco AMEC Source: Gartner 2020-2022 15
Slide 17: AIXTRON Competitive Landscape
AIXTRON Competitive Landscape USA Europe China/Taiwan Korea Japan GaAs/InP Lasers Opto ROY (Micro) LED GaN (Micro) LED TOPEC Power GaN Power SiC Power Source: AIXTRON market research 16
Slide 18: Four Year View on Consolidated Income Statement
Four Year View on Consolidated Income Statement1 (EUR million) FY/23 FY/22 FY/21 FY/20 Revenues 629.9 463.2 429.0 269.2 Cost of sales 350.8 267.9 247.5 161 Gross profit 279.0 195.3 181.5 108.3 Gross margin 44% 42% 42% 40% Selling expenses 14.1 11.2 10.0 9.7 General & admin expenses 32.6 29.2 25.4 18
Slide 19: Four Year View on Consolidated Balance Sheet
Four Year View on Consolidated Balance Sheet1 (EUR million) 31.12.2023 31.12.2022 31.12.2021 31.12.2020 Property, plant & equipment and leased assets 147.8 99.0 74.0 63.5 Goodwill 72.3 72.5 72.3 71.0 Other intangible assets 4.4 3.3 2.2 2.9 Others2 41.8 34.9 25.4 74.9 Non-current assets 266.3 209.7 1
Slide 20: Four Year View on Consolidated Statement of Cash Flows
Four Year View on Consolidated Statement of Cash Flows1 (EUR million) FY/23 FY/22 FY/21 FY/20 Net Result 145.2 100.5 94.8 34.5 Adjust for: Non-Cash Items 7.5 5.7 5.7 8.0 Changes in Working Capital (200.0) (69.1) (34.2) (19.2) Cash Flow from Operating Activities² (47.3) 37.1 66.4 23.3 Capital Expendi
Slide 21: AIXTRON - In a Nutshell
AIXTRON - In a Nutshell 31 7 31 33 Ga N Gallium Nitrogen Ga As Gallium Arsenic 69,72 14,01 69,72 74,92 14 6 49 15 Si Silicon C Carbon In Indium P Phosphorus 28,09 12,01 114,82 30,97 Tools of record Power – Speed – Light Diversified industry portfolio addressing ahead of competition *Enabled by AIXTR
Slide 22: Financial Calendar & Contact Data
Financial Calendar & Contact Data Our Financial Reporting Dates: For further information please contact: 25 April Q1/24 Results, Conference Call Carsten Werle, CFA 15 May Annual General Meeting 25 July Q2/24 Results, Conference Call Director IR (interim) +49 (2407) 9030-8815 c.werle.sc@aixtron.com C
Slide 23: AIXTRON SE
AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath, Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mail info@aixtron.com