Aixtron Se · XETR:AIXA
Aixtron — Q1 2009 Earnings Presentation
18 slides from Aixtron's earnings presentation, May 7, 2009
Slide 1: First Quarter 2009 Results
(FSE: AIXA, ISIN DE000A0WMPJ6; NASDAQ: AIXG, ISIN: US0096061041) First Quarter 2009 Results May May 7, 7, 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 First Quarter 2009 Results operations and earnings outlook of AIXTRON within the meaning of the “safe harbor” provisions of the United States Private Securities Lit
Slide 3: Phases of Market Recovery
Phases of Market Recovery Phase 1: Reaching the bottom First Quarter 2009 Results No inventory buffer between end-user demand and production Customer replenishment orders trigger higher utilization rates Initially smaller volumes & shorter contracts Additionally, new ‘strategic’ LED investors enter
Slide 4: Financial Highlights: Year-on-Year Comparison
Financial Highlights Year-on-Year Comparison (Q1/2009 vs. Q1/2008) First Quarter 2009 Results Q1/2009 total Revenues down 26% to €46.2m (Q1/2008: €62.6m) Gross Margin significantly higher at 45% (Q1/2008: 39%) Q1/2009 EBIT, incl. two specific operational events of €3.8m, down to €7.6m, but with incr
Slide 5: Financial Highlights: Quarter-on-Quarter Sequential Comparison
Financial Highlights Quarter-on-Quarter Sequential Comparison (Q1/2009 vs. Q4/2008) Quarterly Revenues down 44% to €46.2m (Q4/2008: €82.3m) First Quarter 2009 Results Gross Margin up 2pp to 45% (Q4/2008: 43%) EBIT up 3% to €7.6m with 16% Margin (Q4/2008: €7.4m; 9% Margin); EBIT-Margin without specif
Slide 6: Business Development
Business Development Q1/2009 Compound First Quarter 2009 Results Semiconductors Silicon Semiconductors (including Organics) €41.9m equipment1) €0.2m equipment1) Revenues revenues (-12% yoy) revenues (-98% yoy) 91% of total2) revenues 0% of total2) revenues Equipment €30.6m (-60% yoy) €0.6m (-93% yoy
Slide 7: Key Financials
Key Financials Year-on-Year/Quarterly Comparison (Q1/2009 vs. Q1/2008 vs. Q4/2008) First Quarter 2009 Results (€ million, unaudited) Q1/09 Q1/08 +/- Q1/09 Q4/08 +/- Equipment Order Intake 31.2 85.5 -64% 31.2 40.6 -23% Equipment Order Backlog 100.7 157.3 -36% 100.7 105.0 -4% (end of period) Revenues
Slide 8: Quarterly Business Development
24 - Month Business Development (€ million) First Quarter 2009 Results 86.9 85.5 70.0 72.6 Equipment (only) 50.3 52.2 Order Intake 40.6 31.2 157.3 165.1 158.1 132.0 102.8 105.0 100.7 Equipment (only) 80.3 Order Backlog 82.3 62.6 65.6 63.9 Total Revenues 51.7 54.1 46.2 (incl. equipment, service, spar
Slide 9: Revenue Analysis
Revenue Analysis Q1/2009: Q1/2009: Q1/2009: by Technology by End Application by Region First Quarter 2009 Results (equipment only) 9% 7% 22% 25% 3% 7% 68% 68% 91% Compound LED Asia Spares & Service Telecom/Datacom Europe Consumer/Optoelectronic USA Display & Others Slide: 9
Slide 10: 2009 Guidance Model
2009 Guidance Model 2009 revenue guidance range: €200m - €220m First Quarter 2009 Results 2009 EBIT guidance: 10 - 11% EBIT margin Sufficient cash levels will be maintained (without any bank borrowings) (€ million) ‘shippable’ Q1/2009 actual total revenue equipment orders required by Q3/2009 46 41-6
Slide 11: Key Takeaways
Key Takeaways 2009 will be challenging, but … First Quarter 2009 Results Solid financial situation High flexibility through outsourcing, contract staff Strong competitive positioning: technology and market leader Prepared for controllable scaling-up of production in line with demand … with equal lev
Slide 12: Financial Calendar & Contact Data
Financial Calendar & Contact Data First Quarter 2009 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 contact: Investor Relations & Corporate Commu
Slide 13: Appendix
First Quarter 2009 Results Appendix Target Target Market Market Opportunities Opportunities Detailed Detailed Financial Financial Statements Statements Slide: 13
Slide 14: Market Prospects
Market Prospects Short -Term LED backlighting for next generation LCD screens First Quarter 2009 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 aut
Slide 15: Group Income Statement
Group Income Statement (€ million) Q1/2009 Q1/2008 +/- First Quarter 2009 Results Revenues 46.2 62.6 -26% Cost of sales 25.2 38.1 -34% Gross profit 21.0 24.5 -14% Gross Margin 45% 39% +6 pp Selling Expenses 4.6 8.0 -42% General & Administration Expenses 4.6 4.5 3% R&D 8.9 6.8 30% Net Other operating
Slide 16: Group Balance Sheet
Group Balance Sheet (€ million) 31/03/09 31/12/08 31/03/08 First Quarter 2009 Results Property, plant & equipment 34.0 39.3 36.5 Goodwill 61.1 58.7 55.0 Other intangible assets 9.7 10.3 11.3 Others 10.5 9.1 8.7 Non-current assets 115.4 117.4 111.5 Inventories 71.5 77.1 67.8 Trade receivables 31.5 38
Slide 17: Group Cash Flow Statement
Group Cash Flow Statement (€ million) Q1/2009 Q1/2008 First Quarter 2009 Results Cash Flow from operating activities 13.3 16.4 Cash Flow from investing activities -5.0 -18.1 Cash Flow from financing activities 0.7 -1.6 (incl. exchange rate changes) Net change in Cash & Cash Equivalents 9.1 -3.3 Cash
Slide 18: First Quarter 2009 Results
First Quarter 2009 Results Slide: 18