Slide 1: AIXTRON Investor Presentation Q1/2017
AIXTRON Investor Presentation IR Presentation – Q1/2017 (FSE: AIXA, ISIN DE000A0WMPJ6) © AIXTRON Investor Relations, April 2017
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
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 in Herzogenrath, Germany Technology leader in deposition systems Worldwide presence with 13 sales/representatives offices More than 3,000 deposition systems delivered and production facilities all over the world Company founded in 1983 – over 3
Slide 5: Global Presence
ABOUT AIXTRON 5 Global Presence
Slide 6: AIXTRON – Enabling an Innovative Future
AIXTRON TECHNOLOGIES AND PRODUCTS 6 AIXTRON –Enabling an Innovative Future New Complex Materials Tech Trends Compound Semiconductors • GaAs/ GaN (Sensors) • GaN/SiC (RF/Power – Mobile) LOREM • GaAs/InP (Laser - Datacom) • GaN (LED – LiFi, Micro-LED, UV LED) Silicon Semiconductors Big Data LOREM • II
Slide 7: Our Technology Portfolio
AIXTRON TECHNOLOGIES AND PRODUCTS 7 Our Technology Portfolio Silicon Carbon Compound Semiconductors Organic Semiconductors Nanomaterials MOCVD ALD/CVD/MOCVD OVPD®/PVPD®/TFE PECVD LEDs, Lasers and Power Management Silicon Graphene, 2D Nano Organic Electronics Optoelectronics GaN / SiC Semiconductors
Slide 8: Revenue Analysis
OPERATIONS 8 Revenue Analysis Q1/2017: Q1/2017: Q1/2017: by equipment & spares by end application by region (equipment only) 7% 2% 11% 19% 8% 19% 52% 20% 81% 81% LED Equipment Silicon Asia Spares Power Electronics Europe Optoelectronics USA Others
Slide 9: 24-Month Business Development
FINANCIALS 9 24 - Month Business Development (€ million) Order Intake 69.0 60.5 61.9 (incl. equipment, 52.5 44.4 51.1 34.4 31.3 service, spare parts) @ $1.25 @ $1.10 @ $1.10 Order Backlog 91.2 104.0 86.2 87.6 (equipment only) 72.3 67.7 78.1 42.9 @ $1.25 @ $1.10 @ $1.10 Total Revenues 89.8 (incl. equ
Slide 10: Consolidated Income Statement
Financials 10 Consolidated Income Statement* +/- +/- (€ million) Q1/16 Q1/17 Q4/16 Q1/17 % % Revenues 21.4 53.6 – 89.8 53.6 -40 Cost of sales (incl. € 1m TFOS effect) 18.3 40.0 – 60.5 40.0 -34 Gross profit 3.1 13.6 – 29.4 13.6 -54 % 15 25 10 pp 33 25 -8 pp Selling expenses 2.9 2.6 -10 4.8 2.6 -46 Ge
Slide 11: Balance Sheet
Financials 11 Balance Sheet* (€ million) 31/03/16 31/12/16 31/03/17 Property, plant & equipment 79.0 74.2 68.9 Goodwill 74.6 74.6 74.5 Other intangible assets 6.0 5.4 5.2 Others 3.3 2.4 2.1 Non-current assets 162.9 156.5 150.6 Inventories 73.6 54.2 49.9 Trade receivables 18.2 60.2 29.6 Others 9.1 5.
Slide 12: Consolidated Statement of Cash Flows
Financials 12 Consolidated Statement of Cash Flows* (€ million) Q1/16 Q1/17 Q4/16 Q1/17 Net Result -15.5 -13.5 6.4 -13.5 Adjust for Non Cash Items 3.7 7.3 5.9 7.3 Changes in Working Capital -7.6 40.8 -15.0 40.8 Cash Flow from Operating Activities -19.4 34.6 -2.7 34.6 Capital Expenditures -5.1 -1.3 -
Slide 13: Market Prospects
FUTURE MARKETS 13 Market Prospects Short-Term • Further increasing adoption of LEDs and specialty LEDs (in particular Red-Orange-Yellow, UV or IR) for Display and other applications • Increased emergence of wide-band-gap GaN or SiC based devices for energy efficient power management and communicatio
Slide 14: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 14
Slide 15: Compound Semiconductors – Enabling Breakthrough Technologies
AIXTRON TECHNOLOGIES AND PRODUCTS 15 Compound Semiconductors – Enabling Breakthrough Technologies Hyperscale Data Centers Faster Connectivity (Optical, Lasers, Communication) Power Management Mobile Applications 3D Gesture Sensing (Power) (Optics, Lasers) Advanced Processors Wireless Charging (III-V
Slide 16: AIXTRON – Enabling Emerging Global Mega Trends
AIXTRON TECHNOLOGIES AND PRODUCTS 16 AIXTRON – Enabling Emerging Global Mega Trends Computing Hyperscale Datacenters Silicon AR / VR Photonics Wireless 3D Charging GaN Gesture Sensors GaAs SiC 5G Network Autonomous InP ZnO Driving Smart AIXTRON Lighting InSb Pure Play Ge Electric Vehicle Epitaxy Mic
Slide 17: AIXTRON – Enabling Emerging Global Mega Trends
AIXTRON TECHNOLOGIES AND PRODUCTS 17 AIXTRON – Enabling Emerging Global Mega Trends Applications for Global Mega Trends Material Revolution • Global Megatrends in Mobility, Connectivity and Performance fueling Demand for Leading Edge Deposition Technology Key Enabling Position • Advanced III-V Compo
Slide 18: Short Term: Compound Semiconductors in Next-Gen CE Applications
AIXTRON TECHNOLOGIES AND PRODUCTS 18 Short Term: Compound Semiconductors in Next-Gen CE Applications Source: Gartner; Credit Suisse, Deutsche Bank, Stifel AIXTRON Enables GaAs Applications Potential CE markets (2017e) RF Power transistors HMIC Pin diode ~3bn units RF Switches Smartphones: 1.55 b
Slide 19: Mid Term: Compound Semiconductors in Connected Vehicles
AIXTRON TECHNOLOGIES AND PRODUCTS 19 Mid Term: Compound Semiconductors in Connected Vehicles Source: Gartner; Baader, Bernstein, Deutsche Bank, Stifel AIXTRON Enables GaAs Applications Potential EV, BEV and PHEV ~ 4m units in 2020e Vehicle speed sensing (IR) Power Semiconductor content per car N
Slide 20: Long Term: Compound Semiconductors in Smart Homes
AIXTRON TECHNOLOGIES AND PRODUCTS 20 Long Term: Compound Semiconductors in Smart Homes Source: Gartner; Credit Suisse, Deutsche Bank, Stifel AIXTRON also in... AIXTRON Enables GaAs Applications Smart homes: Self-sufficient, OLED CNT based Night vision IR Terrestrial CPV environmentally friendly an
Slide 21: Compound Semiconductors – Evolving Applications
AIXTRON TECHNOLOGIES AND PRODUCTS 21 Compound Semiconductors – Evolving Applications AIXTRON Revenues CAGR 2013 -2016 AIXTRON 2016 Revenues by end application AIXTRON LED Power Optoelectronic (equipment only) Group Equipment Equipment Equipment Others; 5% 25% Optoelectronics; 34% LED; 26% 10% 2% Sil
Slide 22: Compound Semiconductors – Wide-Band-Gap Power Electronics
AIXTRON TECHNOLOGIES AND PRODUCTS 22 Compound Semiconductors – 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 • U
Slide 23: Compound Semiconductors – Wide Band Gap Power Electronics
AIXTRON TECHNOLOGIES AND PRODUCTS 23 Compound Semiconductors – Wide Band Gap (WBG) Power Electronics Source: Dell, DOE, Toyota Example Applications in Pipeline MORE EFFICIENT SMALLER FASTER Wireless charging Electric Vehicles laptops WBG Power Electronics Data Centers Fast chargers
Slide 24: Silicon Semiconductors – Leading Edge Technologies
AIXTRON TECHNOLOGIES AND PRODUCTS 24 Silicon Semiconductors – Leading Edge Technologies Source: Gartner 2016 At the forefront to extend Moore’s Law Memory Logic transistor Interconnects (ALD) (MOCVD- III-V) (Graphene/CNT) >5x ≤14nm Fab Capacities Total Fab Capacities “More than Moore” ~1.1x (2016: I
Slide 25: Silicon Semiconductors – ALD
AIXTRON TECHNOLOGIES AND PRODUCTS 25 Silicon Semiconductors – ALD Product Description – ALD • 300mm ALD Technology • QXP-8300 Mini-batch system • High throughput : 2 Process Chambers – 8 stations “Best-in class technology, state of the art • Up to 3 vaporizers and one bubbler deposition system, lowe
Slide 26: Carbon Nanomaterials – PECVD
AIXTRON TECHNOLOGIES AND PRODUCTS 26 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 platform: BM R&D (2-inch),
Slide 27: Organic Electronics – OVPD + Encapsulation
AIXTRON TECHNOLOGIES AND PRODUCTS 27 Organic Electronics – OVPD® + Encapsulation 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 Te
Slide 28: Organic Electronics – OVPD
AIXTRON TECHNOLOGIES AND PRODUCTS 28 Organic Electronics – OVPD® Product Description – OVPD Proprietary carrier-gas enhanced gas phase deposition approach for organic thin films Based on AIXTRON‘s core competence of carrier gas enhanced vapor phase deposition Free scalability: suitable for all
Slide 29: Organic Electronics – OPTACAP PECVD
AIXTRON TECHNOLOGIES AND PRODUCTS 29 Organic Electronics – OPTACAP™ PECVD Product Description – OptaCap™ PECVD Proprietary PECVD technology based on linear plasma sources Based on AIXTRON‘s core competence of carrier gas enhanced vapor phase deposition “Disruptive deposition technology Free sc
Slide 30: Equipment Order Intake per Quarter
0 50 100 200 150 250 OPERATIONS Q1/98 Q2/98 Q3/98 Q4/98 Q1/99 Q2/99 Q3/99 driven by Q4/99 (EUR million) Q1/00 Q2/00 Q3/00 Q4/00 Q1/01 telecom/datacom and mobile phone Q2/01 Q3/01 Q4/01 Q1/02 Q2/02 Q3/02 Q4/02 Q1/03 Q2/03 Compound Semiconductor Market Q3/03 Q4/03 Q1/04 mobile phone driven by penetrat
Slide 31: Annual Equipment Revenues by Application (excl. spares)
OPERATIONS 31 Annual Equipment Revenues by Application (excl. 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 LED Silicon Power Electronics Optoelectronics* Others * Optoelectronics includes application
Slide 32: Competitive Landscape
INDUSTRY 32 Competitive Landscape GaAs/InP: Advanced Optoelectronics, ROY LEDs GaN LED MOCVD (TOPEC) GaN Power SiC Power Silicon Organic
Slide 33: Consolidated Income Statement
FINANCIALS 33 Consolidated Income Statement* (€ million) 2014 2015 2016 Revenues 193.8 197.8 196.5 Cost of sales 154.1** 147.9 140.2 Gross profit 39.7** 49.8 56.3 Gross Margin 20% 25% 29% Selling expenses 14.1** 11.5 13.8 General & admin expenses 19.3 16.3 17.1 R&D 66.7 55.4 53.9 Net other operating
Slide 34: Balance Sheet
FINANCIALS 34 Balance Sheet* (€ million) 31/12/14 31/12/15 31/12/16 Property, plant & equipment 77.3 81.3 74.2 Goodwill 64.8 75.9 74.6 Other intangible assets 2.5 6.4 5.4 Others 4.6 3.9 2.4 Non-current assets 149.2 167.6 156.5 Inventories, WIP & Finished Goods 81.7 70.8 54.2 Trade receivables 26.3 2
Slide 35: Consolidated Statement of Cash Flows
FINANCIALS 35 Consolidated Statement of Cash Flows* (€ million) 2014 2015 2016 Cash Flow from operating activities -33.8 -45.7 -37.7 Cash Flow from investing activities -23.2 41.2 43.4 Cash Flow from financing activities 0.2 -0.1 0.3 Exchange rate changes 5.9 4.3 -2.3 Net change in Cash & Cash Equiv
Slide 36: Global Presence
ABOUT AIXTRON 36 Global Presence AIXTRON SE Headquarters AIXTRON Ltd. AIXTRON Inc. Herzogenrath, Germany Cambridge, United Kingdom Sunnyvale, California, USA Core of AIXTRON’s activities is Focus on key MOCVD reactor Focus on silicon applications for the Technology and R&D Center component technolog
Slide 37: Financial Calendar & Contact Data
37 Financial Calendar & Contact Data • May 9, 2017 Annual General Meeting, Aachen • July 25, 2017 H1/2017 Results, Conference Call • October 26, 2017 9M/2017 Results, Conference Call • February 2018 FY/2017 Results, Conference Call For further information please contact: Investor Relations & Corpora
Slide 38: Thank you very much for your attention.
Thank you very much for your attention. AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mail invest@aixtron.com