Aixtron Se · XETR:AIXA
Aixtron — FY2008 Earnings Presentation
20 slides from Aixtron's earnings presentation, Mar 12, 2009
Slide 1: Full Year 2008 Results
(FSE: AIXA, ISIN DE000A0WMPJ6; NASDAQ: AIXG, ISIN: US0096061041) Full Year 2008 Results March March 12, 12, 2009 2009 Paul Hyland President & Chief Executive Officer Wolfgang Breme Executive Vice President & Chief Financial Officer
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may contain forward-looking statements about the business, financial condition, results of operations and earnings outlook of AIXTRON within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995.
Slide 3: Financial Highlights
Financial Highlights Year-on-Year Comparison (2008 vs. 2007) Full Year 2008 Results 2008 total Revenues up 28% to €274.4m (2007: €214.8m) Gross Margin improvement to 41% for the year (2007: 40%) 2008 EBIT up to €32.5m or 12% margin (2007: €20.6m / 10%) EPS up 30% to €0.26 in 2008 (2007: €0.20) 2008
Slide 4: Business Development
Business Development FY/2008 Compound Semiconductors Silicon Semiconductors Full Year 2008 Results (including Organics) €235.7m equipment1) €11.6m equipment1) Revenues revenues (+62% yoy) revenues (-72% yoy) 86% of total2) revenues 4% of total2) revenues Equipment1) €237.1m (+14% yoy) €13.7m (-65% y
Slide 5: AIXTRON Market & Business Trends
AIXTRON Market & Business Trends From R&D pioneers to the global market leader in MOCVD-equipment Strong market position supporting increasing revenue levels Full Year 2008 Results AIXTRON in good shape to meet the challenges of the current year MOCVD Equipment Market Growth AIXTRON Total Revenue De
Slide 6: Operational Flexibility
Operational Flexibility More profitable products and an increasingly cost-effective organization Higher profit margins and return on equity Full Year 2008 Results Solid financial position for its continuing operations Flexible Cost Structure Improving Profit Margins Increasing Net Income 28% 50% 25
Slide 7: Key Financials
Key Financials Year-on-Year Comparison (Q4,FY/2008 vs. Q4,FY/2007) Full Year 2008 Results (€ million, unaudited) Q4/08 Q4/07 +/- 2008 2007 +/- Equipment Order Intake 40.6 86.9 -53% 250.8 247.7 1% Equipment Order Backlog 105.0 132.0 -20% 105.0 132.0 -20% (end of period) Revenues 82.3 54.1 52% 274.4 2
Slide 8: Quarterly Business Development
24 - Month Business Development (€ million) 86.9 85.5 70.0 72.6 Equipment (only) Full Year 2008 Results 50.3 52.2 Order Intake 40.5 40.6 157.3 165.1 158.1 132.0 102.8 105.0 Equipment (only) 70.0 80.3 Order Backlog 82.3 62.6 65.6 63.9 Total Revenues 63.8 45.2 51.7 54.1 (incl. equipment, service, spar
Slide 9: Revenue Analysis
Revenue Analysis 2008: 2008: 2008: by Technology by End Application by Region (equipment only) Full Year 2008 Results 10% 6% 2%6% 7% 4% 4% 4% 86% 84% 87% LED Compound Asia Consumer/Optoelectronic Silicon Europe Telecom/Datacom Spares USA Display & Others Silicon Slide: 9
Slide 10: Group Balance Sheet
Group Balance Sheet (€ million) Dec 31, 2008 Dec 31, 2007 Full Year 2008 Results Property, plant & equipment 39.3 35.1 Goodwill 58.7 59.0 Other intangible assets 10.3 12.5 Others 9.1 10.9 Non-current assets 117.4 117.5 Inventories 77.1 60.0 Trade receivables 38.8 33.5 Others 14.0 13.9 Cash & Cash Eq
Slide 11: Group Cash Flow Statement
Group Cash Flow Statement (€ million) 2008 2007 Full Year 2008 Results Cash Flow from operating activities 15.9 32.9 Cash Flow from investing activities -11.4 -10.5 Cash Flow from financing activities -8.9 2.9 (incl. exchange rate changes) Net change in Cash & Cash Equivalents -4.5 25.2 Cash & Cash
Slide 12: Financial Strength and Flexibility
Financial Strength and Flexibility Strong balance sheet: Equity ratio of 68%, debt free Comfortable and sufficient cash position for all operational needs Full Year 2008 Results Further cash generation through reduction of current/non-current assets Flexible operational setup will keep gross margin
Slide 13: 2009 Break-Even Guidance Model
2009 Break-Even Guidance Model Revenue and EBIT guidance to be quantified as visibility improves EBIT profitability from total revenues of €170m Full Year 2008 Results Sufficient cash levels will be maintained (without any bank borrowings) 2009 ‘shippable’ Equipment 100 Orders out of €105.0m total B
Slide 14: Key Takeaways
Key Takeaways 2009 will be challenging, but … Solid financial situation Full Year 2008 Results High flexibility through outsourcing, contract staff Strong competitive positioning: technology and market leader … with equal levels of opportunity Maintain a high level of strategic R&D Therefore prepare
Slide 15: Financial Calendar & Contact Data
Financial Calendar & Contact Data May 7, 2009 Q1/2009 Results, Conference Call Full Year 2008 Results May 20, 2009 Annual General Meeting at Eurogress in Aachen July 30, 2009 Q2/2009 Results Conference in Frankfurt October 29, 2009 Q3/2009 Results, Conference Call For further information please cont
Slide 16: Appendix
Full Year 2008 Results Appendix Target Target Market Market Opportunities Opportunities Detailed Detailed Financial Financial Statements Statements Slide: 16
Slide 17: Market Prospects
Market Prospects Short -Term LED backlighting for next generation LCD screens Full Year 2008 Results LEDs for increasing automotive applications Emerging LED external/street lighting applications Mid-Term Emerging Solid State/Interior Lighting device applications Silicon carbide (SiC) hybrid automot
Slide 18: Key Financials: Quarter-on-Quarter
Key Financials Quarter-on-Quarter Sequential Comparison (Q4/2008 vs. Q3/2008) Full Year 2008 Results (€ million, unaudited) Q4/2008 Q3/2008 +/- Equipment Order Intake 40.6 52.2 -22% Equipment Order Backlog (end of period) 105.0 158.1 -34% Revenues 82.3 63.9 29% Gross Profit 35.6 26.9 32% Gross Margi
Slide 19: Group Income Statement
Group Income Statement (€ million) 2008 2007 +/- Full Year 2008 Results Revenues 274.4 214.8 28% Cost of sales 161.5 129.8 24% Gross profit 112.9 85.0 33% Gross Margin 41% 40% +1 pp Selling Expenses 27.8 27.2 2% General & Administration Expenses 18.0 16.0 13% R&D 28.3 26.5 7% Net Other operating inc
Slide 20: Full Year 2008 Results
Full Year 2008 Results Slide: 20