Aixtron Se · XETR:AIXA
Aixtron — Q2 2025 Earnings Presentation
28 slides from Aixtron's earnings presentation, Aug 1, 2025
Slide 1: H1/2025 Investor Presentation
H1/2025 Investor Presentation Dr. Felix Grawert, CEO Dr. Christian Danninger, CFO July 31st, 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 – H1/2025 Key highlights
AIXTRON – H1/2025 Key highlights Financials Q2/2025: Q2 delivered at upper end of revenue guidance ▪ Order Intake with EUR 119m solid in a soft market environment ▪ Revenues with EUR 137m at upper end of revenue guidance ▪ Gross Profit at EUR 56m; Gross Margin at 41% ▪ EBIT at EUR 24m; EBIT Margin a
Slide 4: Annual Revenues by Application
Annual Revenues by Application EUR million 630 633 530-600e 463 Q3/25- 429 Q4/25e 269 H1/2025 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: H1/2025 – Highlights | Key P&L Indicators
H1/2025 – Highlights | Key P&L Indicators Revenues Gross Profit Margin EBIT Margin Q2/25 €4%137.4 YoY m € 55.7 m 13% YoY 41% € 23.6 m 83% YoY 17% Q3/24- Q4/24e 633.2 m € 89.9 262.5mm €€131.2 26.9 mm FY/24 €0% H1/25 249.9 1% YoY -3% YoY -6% 36% 41% 18% -16%YoY YoY 11% 21% ▪ H1 Gross Profit & EBIT imp
Slide 6: H1/2025 – Highlights | Key Balance Sheet & Cash Flow Indicators
H1/2025 – Highlights | Key Balance Sheet & Cash Flow Indicators Working Capital1 Operating Cash Flow Free Cash Flow Cash Balance2 Q2/25 €€ -33.5 382.8 m m vs. Q1/25 € 50.0 m € +29.8 m YoY € 41.3 m € +64.7 m YoY € 114.8 m € +21.5 m vs. Q1/25 FY/24 €€ -65.0 H1/25 382.8 446.9 m 85.1 m € 26.2 71.1 m € -
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: Optoelectronics – momentum in laser market continues to be strong
Optoelectronics – momentum in laser market continues to be strong G10-AsP Platform: Securing top-tier engagements ▪ G10 AsP recognized as tool of record by leading customers – further engagements progressing with additional prospects. ▪ Increased demand in Optoelectronics driven primarily by discret
Slide 9: Optoelectronics – great market expectations
Optoelectronics – great market expectations Data Demand Explosion: Photonic Integrated Circuits (PICs): - Driven by AI, 5G, sensing - Replacing discrete lasers - Bandwidth doubling every ~2 years - Higher performance, smaller size, lower energy - Shift to Co-Packaged Optics (CPO) in hyperscale data
Slide 10: GaN power – growth is fueled by adding more and more applications
GaN power – growth is fueled by adding more and more applications Voltage ≥ 1200 V 1200V GaN 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 motor dev
Slide 11: NVIDIA – HVDC Architecture combines SiC and GaN devices
NVIDIA – HVDC Architecture combines SiC and GaN devices NVIDIA 800 V HVDC Architecture will power the next Navitas developing next generation 800V HVDC generation of AI Factories architecture with NVIDIA Source: Navitas Infineon Unveils Next-Generation Power Architecture Key efficiency gains ▪ Up to
Slide 12: AIXTRON – Guidance for Q3/2025 and FY/2025
AIXTRON – Guidance for Q3/2025 and FY/2025 EUR million Guidance1 Q3/20251 FY/20251 Revenue Guidance FY/2025 EUR million Revenues1 EUR 110m – 140m EUR 530m – 600m ~80 ~100 ~ 80 - 150 Gross Margin1 41% – 42% 250 ~ 140 ~370 ~300 ~ 60 1 EBIT Margin 18% – 22% H1/2025 Revenues Q3-Q4/25e Revenues After Sal
Slide 13: Financial Calendar & Contact Data
Financial Calendar & Contact Data Our Financial Calendar: For further information please contact: 30 Oct. 2025 Q3/25 Results, Conference Call Christian Ludwig Ralf Penner VP Investor Relations Senior IR Manager +49 (2407) 9030-444 +49 (2407) 9030-6153 c.ludwig@aixtron.com r.penner@aixtron.com Confer
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 @ $1.08 @ $1.15 @ $1.15 @ $1.10 401 384 368 354 355 308 227 289 285 214 204 176 165 157 156 143 1
Slide 16: H1/2025 Revenue Analysis
H1/2025 Revenue Analysis1 Equipment & After Sales End Application (equipment only) Regional Split 4% 9% 21% 20% 16% 45% 16% 64% 79% 26% 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, Lasers, ROY & Micro LEDs 130 120 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: 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 19
Slide 21: Consolidated Income Statement
Consolidated Income Statement1 (EUR million) H1/2025 H1/2024 +/- (%) Q2/2025 Q2/2024 +/- (%) Revenues 249.9 250.1 0% 137.4 131.8 4% Cost of sales 160.0 157.2 2% 81.7 82.7 (1)% Gross profit 89.9 92.9 (3)% 55.7 49.1 13% Gross margin 36% 37% (1)pp 41% 37% 4pp Selling expenses 9.1 7.4 23% 4.3 3.7 16% Ge
Slide 22: Consolidated Balance Sheet
Consolidated Balance Sheet1 (EUR million) 30.06.25 31.03.25 31.12.24 Property, plant & equipment and leased assets 235.5 229.5 226.9 Goodwill 71.8 72.9 73.5 Other intangible assets 5.9 7.3 7.4 Other non-current assets 5.1 3.3 3.8 Others 33.8 36.8 35.4 Non-current assets 352.1 349.9 347.1 Inventories
Slide 23: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows1 (EUR million) H1/2025 H1/2024 Q2/2025 Q2/2024 Net result 24.3 22.0 19.2 11.2 Adjust for: Non-cash items (4.2) (4.5) (2.7) 5.9 Changes in Working Capital2 65.0 (4.7) 33.5 3.1 Cash flow from operating activities 85.1 12.8 50.0 20.2 Capital expenditures/disposals (
Slide 24: 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 25: 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 26: 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 27: 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 28: AIXTRON SE
AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath, Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mail info@aixtron.com