Slide 1: AIXTRON Investor Presentation
AIXTRON Investor Presentation IR Presentation – 9M/2019 (FSE: AIXA, ISIN DE000A0WMPJ6) © AIXTRON Investor Relations, October 2019
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 near Aachen, Germany Company founded in 1983, >35 years of experience Worldwide presence in 7 countries Technology leader in deposition systems R&D and production facilities in Germany and UK Around 3,500 deposition systems sold worldwide ~
Slide 5: Where we are
ABOUT AIXTRON Where we are Santa Clara USA @ AIXTRON Group @ Representation Cambridge UK a . Hwaseong -@ ® South Korea Herzogenrath e . Germany ; | AIXTRON SE —) Tokyo Headquarters @ Shanghai Japan China 3 © usinchu Taiwan
Slide 6: What We Do
ABOUT AIXTRON 6 What We Do part of lab/tool photographs©Fraunhofer IISB/Kurt Fuchs We provide enabling Deposition Equipment to the Compound Semiconductor and Display Industry For Optoelectronics and Power Electronics For Organic Electronics Applications • Metal-Organic Chemical Vapor Deposition (MOC
Slide 7: Our MOCVD Market Position
ABOUT AIXTRON 7 Our MOCVD Market Position (Market Size in USD) 2016 2017 2018 3% 2% 24% 20% 8% 43% 46% 401m 553m 37% 258m 55% 34% 27% AIXTRON AIXTRON AIXTRON Veeco Veeco Veeco Others AMEC AMEC Others Others Source: Gartner „Market Share: Semiconductor Wafer Fab Equipment, Worldwide, 2018” (publ. Apr
Slide 8: Technology Portfolio for Complex Material Deposition
AIXTRON TECHNOLOGIES AND PRODUCTS 8 Technology Portfolio for Complex Material Deposition OLED: OVPD®/PVPD® Carbon – PECVD NANO: Innovation Pool LEDs / Optoelectronics Lasers (VCSEL/EEL) GaN Power | GaN RF Power Management (e.g. 3D Sensing; Consumer (e.g. Wireless Charging, Fast Electronics; Optical
Slide 9: Key Financials Q3/2019
Financials 9 Key Financials Q3/2019* * Rounded figures; may not add up +/- +/- (€ million) 9M/19 9M/18 Q3/19 Q2/19 % % Order intake 150.6 230.3 -35 52.2 44.7 17 Order backlog (equipment only) 108.4 151.9 -29 108.4 110.1 -2 Revenues 184.6 180.9 2 52.6 63.3 -17 Gross profit 74.7 78.2 -4 22.1 25.9 -15
Slide 10: Revenue Analysis
FINANCIALS 10 Revenue Analysis* * Rounded figures; may not add up 9M/2019: 9M/2019: 9M/2019: by equipment & spares by end application by region (equipment only) 4% 16% 20% 39% 14% 44% 80% 70% 13% LED Asia Equipment Power Electronics Spares Europe Optoelectronics* Americas Others * Optoelectronics in
Slide 11: 24-Month Business Development
FINANCIALS 11 24 - Month Business Development (€ million) Order Intake (incl. equipment, 78.6 75.6 76.0 72.2 service, spare parts) 65.7 53.6 52.2 44.7 @$1.10 @ $1.20 @ $1.20 Order Backlog (equipment only) 138.3 151.9 138.3 114.9 125.7 108.6 110.1 108.4 @$1.10 @ $1.20 @ $1.20 Revenues (incl. equipmen
Slide 12: Consolidated Income Statement
FINANCIALS 12 Consolidated Income Statement* * Rounded figures; may not add up +/- +/- (€ million) 9M/19 9M/18 Q3/19 Q2/19 % % Revenues 184.6 180.9 2 52.6 63.3 -17 Cost of sales 109.8 102.7 7 30.4 37.4 -19 Gross profit 74.7 78.2 -4 22.1 25.9 -15 % 40 43 -3 pp 42 41 1 pp Selling expenses 7.1 6.7 6 2.
Slide 13: Balance Sheet
FINANCIALS 13 Balance Sheet* * Rounded figures; may not add up (€ million) 30/09/19 30/06/19 31/12/18 Property, plant & equipment 64.8 64.6 63.1 Goodwill 72.2 71.7 71.6 Other intangible assets 2.2 2.3 2.1 Others 12.5 12.4 13.3 Non-current assets 151.8 151.0 150.1 Inventories 87.9 81.8 73.5 Trade rec
Slide 14: Consolidated Statement of Cash Flows
FINANCIALS 14 Consolidated Statement of Cash Flows* * Rounded figures; may not add up (€ million) 9M/19 9M/18 Q3/19 Q2/19 Net Result 20.2 27.7 4.4 7.3 Adjust for Non Cash Items 9.0 -0.1 2.8 3.8 Changes in Working Capital -22.7 -22.2 -2.4 2.5 Cash Flow from Operating Activities 6.5 5.4 4.9 13.6 Capit
Slide 15: AIXTRON – 2019 Guidance: Firmed Up
OUTLOOK 15 AIXTRON – 2019 Guidance*: Firmed Up 2019 Guidance* firmed up with 2019 Guidance* Orders, Revenues, FCF now at the lower end of the range, taking 9M-Results and the current order/revenue situation into account: 2019 Shippable Order Backlog: • Total Order Intake around ca. EUR 64m EUR 220 m
Slide 16: Market Prospects
FUTURE MARKETS 16 Market Prospects Short- to Mid-Term • Increasing adoption of compound semiconductor-based lasers for 3D sensor systems in mobile devices as well as sensors for infrastructure applications. • Further increasing demand for lasers for ultra-fast optical data transmission of large volu
Slide 17: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 17
Slide 18: AIXTRON MOCVD – Planetary Reactor: Tool-of-Record
AIXTRON TECHNOLOGIES AND PRODUCTS 18 AIXTRON MOCVD – Planetary Reactor®: Tool-of-Record Individual Wafer Rotation = Best Material Uniformity Individual wafer temperature adjustment = Wafer Level Control/Optimization Highest Epi / Product Yield = Lowest Production Cost
Slide 19: AIXTRON – Enabling Emerging Global Mega Trends
AIXTRON TECHNOLOGIES AND PRODUCTS 19 AIXTRON – Enabling Emerging Global Mega Trends GaAs GaN Optical 3D Sensing Mobile Power Supplies for Automotive Communication Lasers communication Consumer Electronics MOCVD Platform Technology GaAs SiC Electric Solar Vehicles Fine Pitch & Infrared LED MiniLED Di
Slide 20: Devices: VCSEL/EEL – Internet of Things Creates New Opportunities
AIXTRON TECHNOLOGIES AND PRODUCTS 20 Devices: VCSEL/EEL – Internet of Things Creates New Opportunities Source: icons from www.flaticon.com 3D Sensing Functionality Facial Recognition Autonomous Driving Lasers: VCSEL/EEL Processor Tailor-made clothing/shoes Interior Design Sensor/Receiver …… Mapping
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: ROY LEDs for RGB Displays; UV LEDs for Niche Markets
AIXTRON TECHNOLOGIES AND PRODUCTS 22 Devices: ROY LEDs for RGB* Displays; UV LEDs for Niche Markets Source: LEDinside, Yole Développement Initial RGB* LED Introduction DISPLAYS Expected ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● Stadium Fine Pitch MiniLED for MicroLED fo
Slide 23: Devices: MiniLED & MicroLED – The Perfect Future Display Technology
AIXTRON TECHNOLOGIES AND PRODUCTS 23 Devices: MiniLED & MicroLED – The Perfect Future Display Technology Source: LEDinside RGB* ● ● ● Self-Emissive MicroLED ● ● ● ● ● ● Display 1 Wearables ≈ Low Power 100 Consumption Perfect AR/VR Contrast ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● High S
Slide 24: AIXTRON – Instrumental in Evolving Display Technologies
AIXTRON TECHNOLOGIES AND PRODUCTS 24 AIXTRON – Instrumental in Evolving Display Technologies Specialty LED OLED Display Plasma LED Backlit Display MicroLED Display LCD CRT // 1950’s → 2000’s → 2006 → 2010 → Under Development →
Slide 25: APEVA: Complete OLED Deposition System Provider
AIXTRON TECHNOLOGIES AND PRODUCTS 25 APEVA: Complete OLED Deposition System Provider OVPD Deposition OVPD Deposition Line* Automation & Handling • Fully Automated OLED Deposition Lines and Fab Integration as a Complete System Provider • Innovative Deposition Technology with • Higher Efficiency of OL
Slide 26: Organic Electronics – OVPD – APEVA
AIXTRON TECHNOLOGIES AND PRODUCTS 26 Organic Electronics – OVPD® – APEVA 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 (Thin film
Slide 27: Carbon Nanomaterials – PECVD
AIXTRON TECHNOLOGIES AND PRODUCTS 27 NANO: Innovation 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 plat
Slide 28: Overview: GaN/SiC as Wide Band Gap Power Electronics
AIXTRON TECHNOLOGIES AND PRODUCTS 28 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 29: SiC in Automotive: Main Inverter as the Major Market Opportunity
AIXTRON TECHNOLOGIES AND PRODUCTS 29 SiC in Automotive : Main Inverter as the Major Market Opportunity Quick charging pole Higher efficiency = 1 kV DC (30 – 300 kW) Battery size Battery 3 reduction 2 OBC DC-DC 1 Main inverter 240 V Cost savings AC Range extension Component Power (kW) Fraction
Slide 30: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 30
Slide 31: AIXTRON Competitive Landscape
INDUSTRY 31 AIXTRON Competitive Landscape USA Europe China Korea Japan GaAs/InP Opto Optoelectronics, ROY LED GaN LED TOPEC Power GaN Power SiC Power OLED
Slide 32: Order Intake per Quarter (Equipment Only)
OPERATIONS 32 Order Intake per Quarter (Equipment Only) 250 driven by strategic (EUR million) China investments 200 Lasers, ROY driven by driven by LED TV Overcapacity LEDs and Power notebook Absorption, Electronics 150 driven by backlighting Industry driving demand telecom/datacom Consolidation and
Slide 33: Annual Total Revenues by Application (including spares)
FINANCIALS 33 Annual Total Revenues by Application (including 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 2017 2018 LED Power Electronics Optoelectronics* Others Spares, Services, etc. Silicon** * O
Slide 34: Consolidated Income Statement
FINANCIALS 34 Consolidated Income Statement* * Rounded figures; may not add up (€ million) 2018 2017 2016 Revenues 268.8 230.4 196.5 Cost of sales 151.2 156.4 140.2 Gross profit 117.6 74.0 56.3 % 44% 32% 29% Selling expenses 9.4 10.2 13.8 General & admin expenses 18.4 17.1 17.1 R&D 52.2 68.8 53.9 Ne
Slide 35: Balance Sheet
FINANCIALS 35 Balance Sheet* * Rounded figures; may not add up (€ million) 31/12/18 31/12/17 31/12/16 Property, plant & equipment 63.1 64.3 74.2 Goodwill 71.6 71.2 74.6 Other intangible assets 2.1 1.8 5.4 Others 13.3 4.0 2.4 Non-current assets 150.1 141.3 156.5 Inventories 73.5 43.0 54.2 Trade recei
Slide 36: Consolidated Statement of Cash Flows
FINANCIALS 36 Consolidated Statement of Cash Flows* * Rounded figures; may not add up (€ million) 2018 2017 2016 Cash Flow from operating activities 13.0 70.1 -37.7 Cash Flow from investing activities -16.1 40.7 43.4 Cash Flow from financing activities 10.4 1.2 0.3 Exchange rate changes 2.4 -5.5 -2.
Slide 37: Financial Calendar & Contact Data
37 Financial Calendar & Contact Data • February 27, 2020 FY/2019 Results, Conference Call • April 30, 2020 Q1/2020 Results, Conference Call • May 20, 2020 Annual General Meeting, Aachen, Germany • October 29, 2020 9M/2020 Results, Conference Call • February 2021 FY/2020 Results, Conference Call For
Slide 38: 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