Slide 1: Q1/2025 Investor Presentation
Q1/2025 Investor Presentation Dr. Felix Grawert, CEO Dr. Christian Danninger, CFO April 30th, 2025
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 – Q1/2025 Key highlights
AIXTRON – Q1/2025 Key highlights Financials Q1/2025: Robust Q1 in a soft market environment ▪ Order Intake with EUR 132m above prior year and expectations (Q1/2024: EUR 120m) ▪ Revenues with EUR 113m exceeded upper end of guided range; weaker demand from western players compensated by Asian/Chinese
Slide 4: Annual Revenues by Application
Annual Revenues by Application EUR million 630 633 530-600e 463 Q2/25- 429 Q4/25e 269 Q1/2025 2020 2021 2022 2023 2024 2025 Optoelectronics and Communication¹ LED incl. Micro LED GaN-Power SiC-Power Other incl. R&D After Sales FY25 Guidance low end FY25 Guidance high end 1 Includes applications in C
Slide 5: Q1/2025 – Highlights | Key P&L Indicators
Q1/2025 – Highlights | Key P&L Indicators Revenues Gross Profit Margin EBIT Margin Q1 € 112.5 m € 34.1 m 30% € 3.3 m 3% -5% YoY -22% YoY -67% YoY Q3/24- Q4/24e FY/24 €1%633.2 YoY m € 262.5 m -6% YoY 41% € 131.2 m -16% YoY 21% ▪ Gross Profit & EBIT both impacted by the EUR ~5m one-off for personnel m
Slide 6: Q1/2025 – Highlights | Key Balance Sheet & Cash Flow Indicators
Q1/2025 – Highlights | Key Balance Sheet & Cash Flow Indicators Working Capital1 Operating Cash Flow Free Cash Flow Cash Balance2 Q1 € 414.7 m € 35.1 m € 29.8 m € 93.3 m € -31.5 m vs. Q4/24 € +42.5 m YoY € +62.9 m YoY € +28.7 m vs. Q4/24 FY/24 €€ +93.9 446.9 m vs. Q4/23 € 26.2 m € +73.5 m YoY € -72.
Slide 7: We address a comprehensive set of growth applications with our G10 family
We address a comprehensive set of growth applications with our G10 family of products 1 2 GaN Power & RF SiC Power Electronics ▪ EV main inverters and EV OBCs ▪ Fast charging / mobile devices Power ▪ EV charging infrastructure ▪ Data centers: AC/DC & DC/DC ▪ Data centers: AC/DC ▪ Motor drives, e.g.
Slide 8: G10-SiC – tool of record for low cost SiC Epitaxy
1 G10-SiC – tool of record for low cost SiC Epitaxy & best in class at material uniformity ◦ Market adoption further fueled by increased availability of 200mm substrates ◦ Multi-Ject technology as market disruptor ▪ Enables very long epi campaigns without recipe change ▪ Now enabling material unifor
Slide 9: GaN power – growth is fueled by adding more and more applications
2 GaN power – growth is fueled by adding more and more applications Voltage ≥ 1200 V EV main inverter 500-700 V Smartphone AC/DC for HV motor EV On-Board fast chargers datacenters drives, home Charger (OBC) appliances Class-D audio Industrial Battery tools, PSU battery consumer < 200 V DC/DC for LV
Slide 10: GaN power – selected case examples
2 GaN power – selected case examples HV motor drives, home appliances ▪ Up to 40% energy consumption reduction ▪ Ramp from 2025 onwards ▪ High unit volume, large dies --> high wafer consumption AI „On Board“ power delivery ▪ Replacement of silicon Battery tools and consumer power chips around the de
Slide 11: AIXTRON Innovation Center in Herzogenrath (Germany)
AIXTRON Innovation Center in Herzogenrath (Germany) Neue Bilder ▪ Total invest of EUR ~100 million ▪ 1,000m2 additional cleanroom space ▪ Allows for collaboration and co-development with customers ▪ Designed and built for 300mm technology Opened in December 2024 - Full operation for 300mm GaN starte
Slide 12: AIXTRON – Guidance for Q2/2025 and FY/2025
AIXTRON – Guidance for Q2/2025 and FY/2025 EUR million Guidance1 Q2/20251 FY/20251 Revenue Guidance FY/2025 EUR million Revenues EUR 120m – 140m EUR 530m – 600m ~80 ~100 ~ 140- 113 210 Gross Margin (%) 41% – 42% ~ 85 ~370 ~300 ~ 190 EBIT Margin (%) 18% – 22% Q1/2025 Revenues Q2-Q4/25e Revenues After
Slide 13: Financial Calendar & Contact Data
Financial Calendar & Contact Data Our Financial Calendar: For further information please contact: 15 May 2025 Annual General Meeting Christian Ludwig Ralf Penner 31 Jul. 2025 Q2/25 Results, Conference Call 30 Oct. 2025 Q3/25 Results, Conference Call VP Investor Relations Senior IR Manager +49 (2407)
Slide 14: Backup
Backup
Slide 15: 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 @ $1.15 @ $1.15 @ $1.10 @ $1.08 @ $1.09 @ $1.04 @ $1.15 @ $1.15 @ $1.10 412 401 384 368 354 355 308 227 289 214 204 178 176 173 165 156 1
Slide 16: Q1/2025 Revenue Analysis
Q1/2025 Revenue Analysis1 Equipment & After Sales End Application (equipment only) Regional Split 4% 10% 15% 22% 17% 15% 49% 70% 78% 21% 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 17: 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 SiC & GaN Power 180 Electronics 170 SiC Power Electronics 160 150 140 GaN Power Electronics, 130 Lasers, ROY & Micro LEDs 120 WBG Power Electronics, 110 Lasers, ROY LEDs 1
Slide 18: What We Do – deposition equipment for compound semiconductors
What We Do – deposition equipment for compound semiconductors Focused Business Model ▪ AIXTRON is the leading supplier of deposition equipment to the compound semiconductor industry ▪ (MO)CVD: The tools run a (Metal-Organic) Chemical Vapor Deposition process for deposition of compound semiconductors
Slide 19: Renewed product portfolio – strong market adoption of G10 tool family
Renewed product portfolio – strong market adoption of G10 tool family G10-GaN G10-AsP G10-SiC ◦ 9x150mm (6“) or 6x200mm (8“) ◦ 8x150mm (6“) or 5x200mm (8“) ◦ 8x150mm (6“) or 5x200mm (8“) ◦ Cost benefit of batch tool with ◦ Compact cluster for high volume ◦ Fully automated AsP MOCVD uniformity on par
Slide 20: Market Share Overview 2023 - AIXTRON is clear market leader
Market Share Overview 2023 - AIXTRON is clear market leader MOCVD (GaN/LED/Opto) CVD (SiC) Others Others EUR 530m EUR 500m AIXTRON AIXTRON Source: Gartner, own estimates Source: YOLE Power SiC - Manufacturing Report 2024 19
Slide 21: AIXTRON Competitive Landscape – clear market leader
AIXTRON Competitive Landscape – clear market leader USA Europe China/Taiwan Japan Opto GaAs/InP Lasers ROY (Micro) LED GaN (Micro) LED TOPEC Power GaN Power TOPEC SiC Power Source: AIXTRON market research 20
Slide 22: Consolidated Income Statement
Consolidated Income Statement1 (EUR million) Q1/2025 Q1/2024 +/- (%) Q1/2025 Q4/2024 +/- (%) Revenues 112.5 118.3 (5)% 112.5 226.7 (50)% Cost of sales 78.4 74.5 5% 78.4 124.3 (37)% Gross profit 34.1 43.8 (22)% 34.1 102.5 (67)% Gross margin 30% 37% (7)pp 30% 45% (15)pp Selling expenses 4.8 3.7 30% 4.
Slide 23: Consolidated Balance Sheet
Consolidated Balance Sheet1 (EUR million) 31.03.25 31.12.24 30.09.24 Property, plant & equipment and leased assets 229.5 226.9 224.3 Goodwill 72.9 73.5 72.6 Other intangible assets 7.3 7.4 5.4 Other non-current assets 3.3 3.8 Others 36.8 35.4 42.1 Non-current assets 349.9 347.1 344.5 Inventories 353
Slide 24: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows1 (EUR million) Q1/2025 Q1/2024 Q1/2025 Q4/2024 Net result 5.1 10.8 5.1 53.4 Adjust for: Non-cash items (1.5) (10.4) (1.5) 2.2 Changes in Working Capital2 31.5 (7.8) 31.5 (57.6) Cash flow from operating activities 35.1 (7.4) 35.1 (2.0) Capital expenditures/disposa
Slide 25: Four Year View on Consolidated Income Statement
Four Year View on Consolidated Income Statement1 (EUR million) FY/24 FY/23 FY/22 FY/21 Revenues 633.2 629.9 463.2 429.0 Cost of sales 370.7 350.8 267.9 247.5 Gross profit 262.5 279.0 195.3 181.5 Gross margin 41% 44% 42% 42% Selling expenses 14.2 14.1 11.2 10.0 General & admin expenses 31.9 32.6 29.2
Slide 26: Four Year View on Consolidated Balance Sheet
Four Year View on Consolidated Balance Sheet1 (EUR million) 31.12.2024 31.12.2023 31.12.2022 31.12.2021 Property, plant & equipment and leased assets 226.9 147.8 99.0 74.0 Goodwill 73.5 72.3 72.5 72.3 Other intangible assets 7.4 4.4 3.3 2.2 Other non-current assets 3.8 0.0 0.0 0.0 Others 35.4 41.8 3
Slide 27: Four Year View on Consolidated Statement of Cash Flows
Four Year View on Consolidated Statement of Cash Flows1 (EUR million) FY/24 FY/23 FY/22 FY/21 Net Result 106.2 145.2 100.5 94.8 Adjust for: Non-Cash Items 9.1 4.3 (11.9) 18.3 Changes in Working Capital2 (89.1) (196.8) (51.5) (46.7) Cash Flow from Operating Activities² 26.2 (47.3) 37.1 66.4 Capital E
Slide 28: EU Taxonomy Alignment & ESG-Ratings – well above industry standard
EU Taxonomy Alignment & ESG-Ratings – well above industry standard FY/2024: Revenues1 EU Taxonomy Aligned Technologies ESG-Ratings ▪ Wide Band Gap (WBG) Power ▪ CDP (Europe): 35% Taxonomy Aligned Semiconductors based on: ▪ 2024: C ▪ Gallium Nitride (GaN) and ▪ 2023: D 65% Taxonomy Non-Aligned ▪ Sili
Slide 29: AIXTRON SE
AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath, Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mail info@aixtron.com