Slide 1: Q1/2024 Investor Presentation
Q1/2024 Investor Presentation Dr. Felix Grawert, CEO Dr. Christian Danninger, CFO 25 April 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 – Q1/2024 Update (1/2)
AIXTRON – Q1/2024 Update (1/2) Financials Q1/2024: Strong increase in revenues and in profit ▪ Revenues up 53% yoy to EUR 118m ▪ Gross Profit up 41% yoy; Gross Margin at 37% (-3pp yoy due to product mix) ▪ EBIT up 183% yoy to EUR 10m; EBIT-Margin improved to 8% (+3pp yoy) ▪ Net Profit up 209% to EUR
Slide 4: AIXTRON – Q1/2024 Update (2/2)
AIXTRON – Q1/2024 Update (2/2) Market Q1/2024 (continued) ▪ Optoelectronics / Lasers: ▪ Clear #1 position with very strong market share ▪ Stable demand in Optoelectronics driven by demand for datacom / telecom lasers ▪ Lasers critical to datacenters to meet higher demands of AI workloads (within-dat
Slide 5: Update Innovation Center
Update Innovation Center Innovation Center construction is fully on track Picture shows construction status in March 2024 4
Slide 6: Consolidated Income Statement
Consolidated Income Statement1 (EUR million) Q1/2024 Q1/2023 +/- (%) Q1/2024 Q4/2023 +/- (%) Revenues 118.3 77.2 53% 118.3 214.2 (45)% Cost of sales 74.5 46.1 62% 74.5 116.0 (36)% Gross profit 43.8 31.1 41% 43.8 98.2 (55)% Gross margin 37% 40% (3)pp 37% 46% (9)pp Selling expenses 3.7 3.1 19% 3.7 4.0
Slide 7: Consolidated Balance Sheet
Consolidated Balance Sheet1 (EUR million) 31.03.24 31.12.23 30.09.23 Property, plant & equipment and leased assets 169.9 147.8 106.2 Goodwill 72.7 72.3 72.8 Other intangible assets 4.8 4.4 3.3 Others 44.0 41.8 36.6 Non-current assets 291.5 266.3 218.9 Inventories 436.4 394.5 380.5 Trade receivables
Slide 8: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows1 (EUR million) Q1/2024 Q1/2023 Q1/2024 Q4/2023 Net result 10.8 3.5 10.8 61.7 Adjust for: Non-cash items 3.0 3.2 3.0 (1.5) Changes in Working Capital (21.2) (0.9) (21.2) (41.8) Cash flow from operating activities (7.4) 5.8 (7.4) 18.4 Capital expenditures/disposals
Slide 9: AIXTRON – Guidance for Q2/2024 and FY/2024
AIXTRON – Guidance for Q2/2024 and FY/2024 EUR million Guidance1 Q2/20241 FY/ 20241 Revenue Guidance FY/2024 EUR million Revenues EUR 120m – 140m EUR 630m – 720m ~80 ~100 ~ 118 ~ 130-220 ~ 90 Gross Margin (%) 43% - 45% ~ ~370 290 ~300 EBIT Margin (%) 24% – 26% Q1/2024 Revenues Q2-Q4/24e Revenues Aft
Slide 10: 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 @ $1.15 @ $1.06 @ $1.08 @ $1.09 @ $1.20 @ $1.15 @ $1.15 418 412 369 368 352 354 355 314 214 204 178 183 173 165 153 160 1
Slide 11: Q1/2024 Revenue Analysis
Q1/2024 Revenue Analysis1 Equipment & After Sales End Application (equipment only) Regional Split 6% 11% 10% 21% 17% 21% 32% 58% 79% 45% Equipment After Sales Optoelectronics & Communications² Asia Europe Americas LED incl. Micro LED GaN-Power SiC-Power Other incl. R&D 1 Rounded figures; may not add
Slide 12: Annual Total Revenues by Application (including After Sales)
Annual Total Revenues by Application (including After Sales) EUR million 630-720e 630 Q2/24- 463 Q4/24e 429 260 269 Q1/2024 2019 2020 2021 2022 2023 2024 Optoelectronics and Communication¹ LED incl. Micro LED GaN-Power SiC-Power Other incl. R&D After Sales FY24 Guidance low end FY24 Guidance high en
Slide 13: Demand Drivers on Order Intake per Quarter (Equipment Only)
Demand Drivers on Order Intake per Quarter (Equipment Only) EUR million SiC & GaN Power Electronics & Micro LED Equipment Demand 170 SiC Power Electronics 160 150 140 GaN Power Electronics, 130 Lasers, ROY & Micro LEDs 120 110 WBG Power Electronics, 100 Lasers, ROY LEDs 90 80 70 60 50 40 30 20 10 Q1
Slide 14: EU Taxonomy Alignment & ESG-Ratings
EU Taxonomy Alignment & ESG-Ratings FY/2023: Revenues EU Taxonomy Aligned Technologies ESG-Ratings ▪ Wide Band Gap (WBG) Power ▪ CDP (Europe): 27% Taxonomy Aligned Semiconductors based on: ▪ 2023: D (B) ▪ Gallium Nitride (GaN) and ▪ 2022: C (B) 73% Taxonomy Non-Aligned ▪ Silicon Carbide (SiC) Key te
Slide 15: What We Do
What We Do AIXTRON - a leading global supplier of Deposition Equipment for the Compound Semiconductor Industry 14
Slide 16: 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 17: Product Portfolio Renewal: Complete G10 Product Family Introduced
Product Portfolio Renewal: Complete G10 Product Family Introduced G10-GaN G10-AsP G10-SiC ▪ 9x150mm (6“) or 6x200mm (8“) ▪ 8x150mm (6“) or 5x200mm (8“) ▪ 8x150mm (6“) or 5x200mm (8“) ▪ New hardware & process ▪ 1st fully automated compact GaN ▪ 1st fully automated AsP MOCVD surpassing Single Wafer Re
Slide 18: 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 17
Slide 19: 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 18
Slide 20: 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 350.8 267.9 247.5 161.0 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
Slide 21: 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 Other intangible assets 4.4 3.3 2.2 2.9 Others2 41.8 34.9 25.4 74.9 Non-current assets 266.3 209.7 174
Slide 22: 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 23: 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 24: Financial Calendar & Contact Data
Financial Calendar & Contact Data Our Financial Reporting Dates: For further information please contact: 15 May 2024 Annual General Meeting 2024, Aachen Carsten Werle, CFA 25 July 2024 Q2/24 Results, Conference Call 31 Oct. 2024 Q3/24 Results, Conference Call Director IR (interim) +49 (2407) 9030-88
Slide 25: AIXTRON SE
AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath, Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mail info@aixtron.com