Slide 1: AIXTRON Investor Presentation
AIXTRON Investor Presentation IR Presentation – H1/2018 (FSE: AIXA, ISIN DE000A0WMPJ6) © AIXTRON Investor Relations, July 2018
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: Technology. Materials. Performance.
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 near Aachen, Germany Company founded in 1983 – 35 years of experience Worldwide presence in 7 countries Technology leader in deposition systems R&D and production facilities in Germany and UK More than 2,700 deposition systems installed world
Slide 5: Global Presence
ABOUT AIXTRON 5 Global Presence
Slide 6: Technology Portfolio for Complex Material Deposition
AIXTRON TECHNOLOGIES AND PRODUCTS 6 Technology Portfolio for Complex Material Deposition OLED: OVPD®/PVPD® Carbon – PECVD NANO: Innovation Pool Photonics GaN Power (e.g. VCSEL for 3D Sensing, (e.g. Wireless Charging; RF, Lasers for CE, Datacom) Fast Charging) Specialty LED SiC Power (MicroLED-, Fine
Slide 7: Revenue Analysis
OPERATIONS 7 Revenue Analysis* * Rounded figures; may not add up H1/2018: H1/2018: H1/2018: by equipment & spares by end application by region (equipment only) 7% 17% 20% 21% 7% 50% 30% 79% 69% LED Asia Equipment Power Electronics Spares Europe Optoelectronics USA Others
Slide 8: 24-Month Business Development
FINANCIALS 8 24 - Month Business Development (€ million) Order Intake (incl. equipment, 69.0 66.6 69.6 65.7 78.6 75.6 60.5 61.9 service, spare parts) @ $1.10 @ $1.10 @ $1.20 Order Backlog (equipment only) 104.0 108.6 114.9 138.3 93.4 99.2 87.6 78.1 @ $1.10 @ $1.10 @ $1.20 Revenues 89.8 (incl. equipm
Slide 9: Consolidated Income Statement
Financials 9 Consolidated Income Statement* * Rounded figures; may not add up +/- +/- (€ million) H1/18 H1/17 Q2/18 Q1/18 % % Revenues 117.6 114.1 3 55.2 62.4 -12 Cost of sales 66.9 85.8 -22 31.3 35.6 -12 Gross profit 50.6 28.3 79 23.8 26.8 -11 % 43 25 18 pp 43 43 0 pp Selling expenses 4.6 5.3 -13 2
Slide 10: Balance Sheet
Financials 10 Balance Sheet* * Rounded figures; may not add up (€ million) 30/06/18 31/03/18 31/12/17 Property, plant & equipment 64.4 63.8 64.3 Goodwill 71.6 71.1 71.2 Other intangible assets 1.7 1.6 1.8 Others 9.0 9.1 4.0 Non-current assets 146.7 145.7 141.3 Inventories 60.1 46.2 43.0 Trade receiv
Slide 11: Consolidated Statement of Cash Flows
Financials 11 Consolidated Statement of Cash Flows* * Rounded figures; may not add up (€ million) H1/18 H1/17 Q2/18 Q1/18 Net Result 16.0 -24.9 3.7 12.3 Adjust for Non Cash Items -0.1 14.1 2.9 -3.0 Changes in Working Capital -24.5 54.1 5.9 -30.4 Cash Flow from Operating Activities -8.5 43.3 12.5 -21
Slide 12: AIXTRON – 2018 Guidance: Upward Adjustments
Outlook 12 AIXTRON – 2018 Guidance: Upward Adjustments Order Intake: EUR 260 ~ 290 million (from EUR 230 ~ 260 million) H2/2018 Revenues > H1/2018 Revenues Upper-end of Guidance Range to be reached for: Revenues: Around EUR 260m (Original Range: EUR 230 ~ 260 million) Gross Margin: Around
Slide 13: Market Prospects
FUTURE MARKETS 13 Market Prospects Short- to Mid-Term • Increasing adoption of compound semiconductor-based lasers for 3D sensor systems in mobile devices as well as sensors for infrastructure applications. • Further increasing demand for lasers for ultra-fast optical data transmission of large volu
Slide 14: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 14
Slide 15: AIXTRON – Enabling Emerging Global Mega Trends
AIXTRON TECHNOLOGIES AND PRODUCTS 15 AIXTRON – Enabling Emerging Global Mega Trends GaAs GaN Optical 3D Sensing Mobile Consumer Automotive Communication Lasers communication Electronics MOCVD Platform Technology GaAs SiC Fine-pitch Infrared LED Display Electric MicroLED GaN Industrial Vehicles SSL,
Slide 16: Devices: VCSEL/EEL – Internet of Things Creates New Opportunities
AIXTRON TECHNOLOGIES AND PRODUCTS 16 Devices: VCSEL/EEL – Internet of Things Creates New Opportunities Source: icons from www.flaticon.com 3D Sensing Functionality Facial Recognition Autonomous Driving VCSEL Processor Tailor-made clothing/shoes Interior Design Sensor/Receiver …… Mapping Industry 4.0
Slide 17: Devices: ROY LEDs for RGB Displays; UV LEDs for Niche Markets
AIXTRON TECHNOLOGIES AND PRODUCTS 17 Devices: ROY LEDs for RGB Displays; UV LEDs for Niche Markets Source: LEDinside ROY LED UV LED Curing ● ● ● ● ● ● ● ● ● ● ● ● RGB Fine-Pitch Indoor Display ● ● ● ● ● ● (Pixel Pitch ≤2.5mm) ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● Water Disinfection RGB Stadium Outdoor
Slide 18: Devices: MiniLED & MicroLED – The Perfect Future Display Technology
AIXTRON TECHNOLOGIES AND PRODUCTS 18 Devices: MiniLED & MicroLED – The Perfect Future Display Technology Source: LEDinside RGB ● ● ● Self-Emissive MicroLED ● ● ● ● ● ● Display 1 Wearables Low Power 100 Consumption Perfect AR/VR Contrast ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● High Sign
Slide 19: AIXTRON MOCVD – Planetary Reactor: Tool-of-Record
AIXTRON TECHNOLOGIES AND PRODUCTS 19 AIXTRON MOCVD – Planetary Reactor® : Tool-of-Record Individual Wafer Rotation = Best Material Uniformity Individual wafer temperature adjustment = Wafer Level Control/Optimization Highest Epi / Product Yield = Lowest Production Cost
Slide 20: AIXTRON Investor Presentation
AIXTRON INVESTOR PRESENTATION 20
Slide 21: Overview: GaN/SiC as Wide Band Gap Power Electronics
AIXTRON TECHNOLOGIES AND PRODUCTS 21 Overview: GaN/SiC as 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 • UPS •
Slide 22: Devices: GaN/SiC Power Electronics – Superior Performance
AIXTRON TECHNOLOGIES AND PRODUCTS 22 Devices: GaN/SiC Power Electronics – Superior Performance Source: icons from www.flaticon.com Energy Saving Electric Vehicles EV-charging More Efficient Less Heat Light Weight Renewable Energy Data Centers Lower Smaller System Cost Wireless Charging Fast Charging
Slide 23: SiC in Automotive: Main Inverter as the Major Market Opportunity
AIXTRON TECHNOLOGIES AND PRODUCTS 23 SiC in Automotive : Main Inverter as the Major Market Opportunity Quick charging pole Higher efficiency = 1 kV DC (30 – 300 kW) Battery size Battery 3 reduction 2 OBC DC-DC 1 Main inverter 240 V Cost savings AC Range extension Component Power (kW) Fraction
Slide 24: AIXTRON – Instrumental in Evolving Display Technologies
AIXTRON TECHNOLOGIES AND PRODUCTS 24 AIXTRON – Instrumental in Evolving Display Technologies Specialty LED OLED Display Plasma LED Backlit Display MicroLED Display LCD CRT // 1950’s → 2000’s → 2006 → 2010 → Under Development →
Slide 25: OVPD – APEVA: Disruptive OLED Manufacturing Technology
AIXTRON TECHNOLOGIES AND PRODUCTS 25 OVPD® – APEVA: Disruptive OLED Manufacturing Technology Source: UBI Research, Display Supply Chain OVPD® enables production of next generation displays 2021e: >US$50 billion Higher quality displays OLED industry’s revenue High material utilization efficiency
Slide 26: Organic Electronics – OVPD – APEVA
AIXTRON TECHNOLOGIES AND PRODUCTS 26 Organic Electronics – OVPD® – APEVA 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 (Thin film
Slide 27: Carbon Nanomaterials – PECVD
AIXTRON TECHNOLOGIES AND PRODUCTS 27 NANO: Innovation Pool 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 plat
Slide 28: Equipment Order Intake per Quarter
0 50 100 150 200 250 OPERATIONS Q1/98 Q2/98 Q3/98 Q4/98 Q1/99 Q2/99 Q3/99 driven by Q4/99 Q1/00 (EUR million) Q2/00 Q3/00 Q4/00 Q1/01 telecom/datacom Q2/01 and mobile phone Q3/01 Q4/01 Q1/02 Q2/02 Q3/02 Q4/02 Q1/03 Q2/03 Q3/03 Q4/03 Compound Semiconductor Market Q1/04 Q2/04 mobile phone driven by pe
Slide 29: Annual Equipment Revenues by Application (excl. spares)
OPERATIONS 29 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 2017 LED Silicon Power Electronics Optoelectronics* Others * Optoelectronics includes applic
Slide 30: AIXTRON Competitive Landscape
INDUSTRY 30 AIXTRON Competitive Landscape USA Europe China Korea Japan GaAs/InP Opto Optoelectronics, ROY LED GaN LED TOPEC Power GaN Power SiC Power OLED
Slide 31: Consolidated Income Statement
FINANCIALS 31 Consolidated Income Statement* * Rounded figures; may not add up (€ million) 2017 2016 2015 Revenues 230.4 196.5 197.8 Cost of sales 156.4 140.2 147.9 Gross profit 74.0 56.3 49.8 % 32% 29% 25% Selling expenses 10.2 13.8 11.5 General & admin expenses 17.1 17.1 16.3 R&D 68.8 53.9 55.4 Ne
Slide 32: Balance Sheet
FINANCIALS 32 Balance Sheet* * Rounded figures; may not add up (€ million) 31/12/17 31/12/16 31/12/15 Property, plant & equipment 64.3 74.2 81.3 Goodwill 71.2 74.6 75.9 Other intangible assets 1.8 5.4 6.4 Others 4.0 2.4 3.9 Non-current assets 141.3 156.5 167.6 Inventories 43.0 54.2 70.8 Trade receiv
Slide 33: Consolidated Statement of Cash Flows
FINANCIALS 33 Consolidated Statement of Cash Flows* * Rounded figures; may not add up (€ million) 2017 2016 2015 Cash Flow from operating activities 70.1 -37.7 -45.7 Cash Flow from investing activities 40.7 43.4 41.2 Cash Flow from financing activities 1.2 0.3 -0.1 Exchange rate changes -5.5 -2.3 4.
Slide 34: Financial Calendar & Contact Data
34 Financial Calendar & Contact Data • October 30, 2018 Q3/2018 Results, Conference Call • February 2019 FY/2018 Results, Conference Call • April 2019 Q1/2019 Results, Conference Call • July 2019 H1/2019 Results, Conference Call For further information please contact: Investor Relations & Corporate
Slide 35: Technology. Materials. Performance.
Technology. Materials. Performance. AIXTRON SE Dornkaulstr. 2 52134 Herzogenrath Germany Phone +49 (2407) 9030-0 Fax +49 (2407) 9030-40 E-Mail invest@aixtron.com