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MarketScreener Homepage  >  Equities  >  Xetra  >  AIXTRON SE    AIXA   DE000A0WMPJ6

AIXTRON SE

(AIXA)
  Report
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AIXTRON : 9-MONTHS-REPORT 2020.PDF

10/29/2020 | 05:15am EST

We are shaping the future.

With innovation and precision.

AIXTRON GROUP

FINANCIALS AT A GLANCE

Key Quarterly Financials

+/-

+/-

In EUR million

9M 2020

9M 2019

%

Q3 2020

Q2 2020

%

Order intake

209.3

150.6

39

70.8

69.6

2

Order backlog

164.1

108.4

51

164.1

156.6

5

(Equipment only)

Revenues

161.1

184.6

-13

64.1

56.0

14

Gross profit

63.3

74.7

-15

25.8

22.9

13

%

39

40

-1pp

40

41

-1pp

EBIT

10.3

24.5

-58

8.2

3.3

148

%

6

13

-7pp

13

6

7pp

Net result

9.6

20.2

-52

7.1

3.3

115

%

6

11

-5pp

11

6

5pp

Free cash flow

-3.3

-2.4

38

5.0

-11.3

144

Key Balance Sheet Data

In EUR million

September 30, 2020

December 31, 2019

Inventories

101.6

79.0

Trade Receivables

19.0

29.2

Cash, financial investments and deposits

292.8

298.3

Trade Payables

14.7

19.4

Contract liabilities for advance payments

63.2

51.1

Equity

471.4

464.1

Equity Ratio

82%

82%

Key Share Data

In EUR

9M 2020

9M 2019

Closing Price (end of period)

10.23

9.36

Period High Price

12.39

10.67

Period Low Price

6.20

7.43

Number of shares issued (end of period)

112,927,320

112,927,320

Market capitalization (end of period), million EUR

1,155.20

1,057.5

Net result per share (EUR)

0.09

0.18

2

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

TABLE OF CONTENTS

FINANCIALS AT A GLANCE

2

BUSINESS DEVELOPMENT

4

INTERIM MANAGEMENT REPORT

6

Business Activity and Strategy

6

Business Performance and Key Developments

6

Development of Orders

6

Exchange Rate Development of the US Dollar

7

Development of Revenues

7

Development of Results

8

Financial Position and Net Assets (Highlights)

10

Cash Flow

11

Opportunities and Risks

11

Outlook

12

INTERIM FINANCIAL STATEMENTS

13

Consolidated Income Statement (unaudited)

13

Consolidated Statement of other Comprehensive Income (unaudited)

13

Consolidated Statement of Financial Position (unaudited)

14

Consolidated Statement of Cash Flows (unaudited)

15

Consolidated Statement of Changes in Equity (unaudited)

16

ADDITIONAL DISCLOSURES

17

Accounting Policies

17

Segment Reporting

18

Stock Option Plans

18

Employees

19

Management

19

Related Party Transactions

19

Post-Balance Sheet Date Events

19

Forward-Looking Statements

20

3

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

AIXTRON GROUP

BUSINESS DEVELOPMENT

Demand continuing at a high level

Revenues increase as planned

Forecast refined and confirmed

New orders in the third quarter of 2020 are at the high level of the previous quarters. This is mainly due to the continued high demand for tools for the production of GaN power electronics and laser applications in particular. As expected, sales and earnings improved significantly year- on-year in the third quarter of 2020. Thus, sales of EUR 161.1 million in the first nine months of 2020 were also much closer to the previous year's figure (9M/2019: EUR 184.6m) than at the half-year reporting date. The positive development of orders in the past quarter and the enquiry activities of customers in the current quarter thus underline the expectations of the Management Board regarding order intake, sales and earnings for the full year 2020. Accordingly, the forecast for the full year 2020 has been refined and confirmed.

At EUR 70.8 million, order intake in the third quarter of 2020 was stable compared to the strong previous quarter (EUR 69.6m). This positive development is mainly based on demand from the GaN and SiC power electronics and laser applications such as optical data transmission or 3D sensing. The total equipment order backlog as of September 30, 2020 has increased to EUR 164.1 million.

Revenues in the third quarter of 2020 increased as expected by 14% to EUR 64.1 million compared to the previous quarter (Q2/2020: EUR 56.0m). Gross profit in Q3/2020 was EUR 25.8 million with a gross margin of 40% (Q2/2020: EUR 22.9m; 41%). Operating expenses in Q3/2020 were EUR 17.6m, below the level of the previous quarter (Q2/2020: EUR 19.6m), which was mainly due to lower selling and R&D expenses in the quarter within the usual fluctuations. This led to an operating profit (EBIT) of EUR 8.2 million and an improved EBIT margin of 13% (Q2/2020: EUR 3.3m; 6%). Net income increased to EUR 7.1 million in Q3/2020 (Q2/2020: EUR 3.3m).

Free cash flow in Q3/2020 was EUR 5.0 million (Q2/2020: EUR -11.3m).

AIXTRON reported cash and cash equivalents, including financial assets, of EUR 292.8m as of September 30, 2020 (December 31, 2019: EUR 298.3m; June 30, 2020: EUR 288.6m). This includes long-termbank deposits with a maximum maturity of 18 months amounting to EUR 30.0m. The continued high equity ratio of 82% reflects AIXTRON's financial strength.

4

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

AIXTRON GROUP

Within the scope of our OLED qualification project, which is operated jointly by engineers of our customer and our subsidiary APEVA, we are about to complete the qualification of the Gen2 deposition system and, thus, to successfully complete the Gen2 project. We will then discuss with the customer about an entry into the next phase of the joint OLED development. In such a follow- up project, the focus would be on scaling the OVPD technology to production size in a pilot plant.

We continue to report no significant effects of the COVID 19 pandemic on the AIXTRON Group. Strict safety measures are in place to ensure the safety of operations.

Against the background of this and the current order backlog and market trends, we confirm our guidance for 2020 as follows: We expect an order intake of EUR 270m to EUR 300m (previously: EUR 260m to EUR 300m). We expect to generate revenues in a range between EUR 260m and EUR 280m (previously: EUR 260m to EUR 300m). We expect to achieve a gross margin of around 40% and an EBIT margin of between 10% and 15% of sales in the 2020 financial year.

5

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM MANAGEMENT REPORT

INTERIM MANAGEMENT REPORT

Business Activity and Strategy

A detailed overview of the business activities and strategy of the AIXTRON Group AIXTRON ("the AIXTRON Group" or "the Company") can be found in the Annual Report 2019. There were no changes in the first nine months of 2020. The Report is publicly available for download on the Company's website at https://www.aixtron.com/en/investors/publications.

Business Performance and Key Developments

Development of Orders

Orders

(in EUR million)

9M 2020

9M 2019

+/-

m EUR

%

Total order intake incl. spares & services

209.3

150.6

58.7

39

Equipment order backlog (end of Period)

164.1

108.4

55.7

51

Order intake in 9M/2020 increased by around 39% year-on-year to EUR 209.3 million from EUR 150.6 million in 9M/2019. This was driven in particular by continued strong demand from the power electronics, optical data communications and LED sectors. At EUR 70.8 million in Q3/2020, order intake was slightly above the previous quarter (Q2/2020: EUR 69.6m).

The equipment order backlog was EUR 164.1 million as of September 30, 2020, up 51% from EUR 108.4 million as of September 30, 2019.

6

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM MANAGEMENT REPORT

Exchange Rate Development of the US Dollar

The average exchange rate used by AIXTRON to translate income and expenses denominated in US dollars in the first nine months of 2020 was 1.13 USD/EUR (Q1/2020: 1.11 USD/EUR; Q2/2020:

1.10 USD/EUR; Q3/2020: 1.17 USD/EUR). This compares to an exchange rate of 1.13 USD/EUR in 9M/2019. Thus, compared to the previous year average, the US dollar remained stable. In Q3/2020 AIXTRON applied an average USD/EUR exchange rate of 1.17 USD/EUR. Compared to the previous year's average exchange rate (Q3/2019: 1.12 USD/EUR), the US-Dollar depreciated by 4%, with a corresponding impact of the US-Dollar-based revenues on the AIXTRON Group's earnings.

Development of Revenues

Total revenues recorded during the first nine months of 2020 were EUR 161.1 million, a decrease of EUR 23.5 million or 13% compared to the same period last year (9M/2019: EUR 184.6m). This development was mainly a result of the scheduling of deliveries to our customers. Compared to the previous quarter, revenues in Q3/2020 increased by 14% to EUR 64.1 million (Q2/2020: EUR 56.0m). In total, the spread of the COVID-19 pandemic had a limited impact in particular on the revenues of the first half of 2020. The COVID-19 pandemic first in China and later in other regions such as Europe and the U.S., led to the postponement of delivery and commissioning of a few tools in the first half of the year at the request of our customers. Nevertheless, revenues in the first nine months of 2020 continued to be in line with our expectations for the full year.

Equipment revenues in 9M/2020 were EUR 129.5 million, representing 80% of the total 9M/2020 revenues (9M/2019: 148.1m; 80%). In the third quarter of 2020, equipment revenues amounted to EUR 53.0m or 83% of revenues (Q3/2019: EUR 41.6m; 79%; Q2/2020: EUR 46.5m; 83%).

The remaining revenues were generated from the sale of spare parts and services.

7

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM MANAGEMENT REPORT

Revenues by Equipment, Spares & Service

9M

2020

9M

2019

+/-

m EUR

%

m EUR

%

m EUR

%

Equipment revenues

129.5

80

148.1

80

-18.6

-13

Revenues from service, spare parts, etc.

31.7

20

36.5

20

-4.8

-13

Total

161.1

100

184.6

100

-23.5

-13

Revenues by Region

9M

2020

9M

2019

+/-

m EUR

%

m EUR

%

m EUR

%

Asia

124.9

78

128.8

70

-3.9

-3

Europe

20.7

13

25.6

14

-4.9

-19

Americas

15.6

10

30.2

16

-14.6

-48

Total

161.1

100

184.6

100

-23.5

-13

Development of Results

Cost Structure

9M

2020

9M 2019

+/-

m EUR

% Rev.

m EUR

% Rev.

m EUR

% Rev.

Cost of sales

97.9

61

109.8

60

-11.9

-11

Gross profit

63.3

39

74.7

40

-11.4

-15

Operating costs

52.9

33

50.2

27

2.7

5

Selling expenses

7.3

5

7.1

4

0.2

3

General and administration expenses

13.7

9

12.4

7

1.3

10

Research and development costs

41.2

26

40.0

22

1.2

3

Net other operating (income)

(9.3)

-6

(9.4)

-5

(0,0)

0

and expenses

Gross profit in 9M/2020 was EUR 63.3 million with a gross margin of 39% (9M/2019: EUR 74.7m

or 40%; Q3/2020: EUR 25.8m or 40%; Q2/2020: EUR 22.9m or 41%). As expected, this reflects the lower revenues compared with the previous year, a less favourable product mix and a weak US Dollar, especially in the third quarter.

Operating costs in 9M/2020 at EUR 52.9 million were slightly higher year-on-year (9M/2019: EUR 50.2m; Q3/2020: EUR 17.6m; Q2/2020: EUR 19.6m). This was mainly due to higher R&D expenses, sales commissions as well as higher general and administration expenses driven by higher recruitment costs. This was partially offset by higher other operating income due to a positive effect in Q1/2020 from a reversal of an impairment allowance of EUR 2.9m for one of the two production sites in Germany.

8

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM MANAGEMENT REPORT

R&D expenses in 9M/2020 increased year-on-year to EUR 41.2 million (9M/2019: EUR 40.0m;

Q3/2020: EUR 12.6m; Q2/2020: EUR 14.2m) and are in line with our ongoing development activities to bring next generation MOCVD equipment to market for various applications. Furthermore, they reflect the current status of the OLED project at APEVA, where the qualification of the Gen2 system is nearing completion and a follow-up project has not yet started.

Key R&D Information

9M 2020

9M 2019

+/-

R&D expenses (million EUR)

41.2

40.0

3%

R&D expenses, % of revenues

26

22

4pp

Net other operating income and expenses in 9M/2020 were stable year-on-year at EUR 9.3 million (9M/2019: EUR 9.4m; Q3/2020: EUR 1.2m; Q2/2020: EUR 1.9m income). These are mainly attributable to grants for publicly funded development projects.

Operating result (EBIT) was down year-on-year from EUR 24.5 million in 9M/2019 to EUR 10.3 million in 9M/2020 (Q3/2020: EUR 8.2m; Q2/2020: EUR 3.3m). This development is mainly the result of the lower level of revenues year-on-year and, thus, attributable to the business development described above. In the third quarter of 2020, a correspondingly significant increase in earnings was observed.

The Company's net result in 9M/2020 amounted to EUR 9.6 million (9M/2019: EUR 20.2m; Q3/2020:

EUR 7.1m; Q2/2020: EUR 3.3m). In Q3/2020, the net result rose significantly year-on-year (Q3/2019: EUR 4.4m). The difference was mainly driven by the afore-mentioned volume and margin effects.

9

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM MANAGEMENT REPORT

Financial Position and Net Assets (Highlights)

The Company did not have any bank borrowings as of September 30, 2020 or December 31, 2019.

Total equity as of September 30, 2020 stood at EUR 471.4 million compared to EUR 464.1 million as of December 31, 2019. The equity ratio was stable at 82% as of September 30, 2020 compared to December 31, 2019.

Cash and cash equivalents and financial assets totaled EUR 292.8 million as of September 30, 2020 (December 31, 2019: EUR 298.3 million; June 30, 2020: EUR 288.6 million). Cash and cash equivalents including other financial assets decreased to EUR 262.8 million as of September 30, 2020 compared to EUR 298.3 million as of December 31, 2019. Other financial assets included short-termbank deposits of EUR 57.5 million and fund investments of EUR 27.5 million. In addition, AIXTRON held long-term financial assets with a maximum term of 18 months of EUR 30.0 million as of September 30, 2020.

Property, plant and equipment increased to EUR 66.9 million as of September 30, 2020 (EUR 64.5 million as of December 31, 2019).

Goodwill was EUR 71.2 million on September 30, 2020 compared to EUR 72.4 million as of December 31, 2019. The difference was entirely related to exchange rate fluctuations.

Inventories, including components, work in progress and finished goods, increased to EUR 101.6 million as of September 30, 2020 from EUR 79.0 million as of December 31, 2019, which mainly reflects work in progress for planned tool deliveries in the last quarter of the year.

Trade receivables decreased to EUR 19.0 million as of September 30, 2020 (December 31, 2019: EUR 29.2 million), which corresponds to an average DSO of 24 days (December 31, 2019: 30 days). This mainly reflects the current business volumes and payment terms with customers.

Contract liabilities for advance payments received from customers amounted to EUR 63.2 million as of September 30, 2020 compared to EUR 51.1 million as of December 31, 2019, and reflect the current order backlog.

10

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM MANAGEMENT REPORT

Cash Flow

Free cash flow (Operating cash flow, excluding changes in financial investments - Capex + Proceeds from disposals) in 9M/2020 amounted to EUR -3.3 million (9M/2019: EUR -2.4m; Q3/2020: EUR 5.0m; Q2/2020: EUR -11.3m). Following the first-time application of IFRS 16, the year-on-year comparative figures for 2019 of the consolidated cash flow statement have been restated.

Opportunities and Risks

During the first nine months of 2020, AIXTRON Management was not aware of any further significant additions or changes in the Opportunities and Risks as described in the 2019 Annual Report. The COVID-19 related risks have been assessed and considered not to be significant, as it turned out that demand for AIXTRON products was not significantly affected by the pandemic and our supply chains proved to function reliably even during the lockdown.

A description of the opportunities and risks of the AIXTRON Group can be found in the chapters "Risk Report" and "Opportunities Report" of the Annual Report 2019 which is publicly available for download on the Company's website at https://www.aixtron.com/en/investors/publications.

11

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM MANAGEMENT REPORT

Outlook

Based on the results for the first nine months of fiscal year 2020 and the internal assessment of the development of demand the Executive Board again confirms and refines its 2020 full year guidance. This takes into account the effect of the COVID-19pandemic, which is so far considered to have no significant impact on the AIXTRON Group's business.

The Executive Board expects an order intake of between EUR 270 million and EUR 300 million (previously: EUR 260m to EUR 300m). With revenues in a range between EUR 260 million and EUR 280 million (previously: EUR 260m to EUR 300m), Management also expects to achieve a gross margin of around 40% and an EBIT margin of between 10% and 15% of revenues in fiscal year 2020.

The Executive Board will continuously monitor the impact of the COVID-19 pandemic and ongoing trade disputes on the global economy and worldwide trade activities, in order to be able to assess at any time any potential effects on AIXTRON's own supply chain and production as well as on customer demand and, thus, on the business development of AIXTRON and - if necessary - to be able to initiate corrective measures.

Further details can be found in chapter "Expected Developments" of the Annual Report 2019, which is publicly available for download on the Company's website at https://www.aixtron.com/en/investors/publications.

12

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM FINANCIAL STATEMENTS

INTERIM FINANCIAL STATEMENTS

Consolidated Income Statement (unaudited)

in EUR thousands

9M/2020

9M/2019

+/-

Revenues

161,137

184,551

-23,414

Cost of sales

97,878

109,830

-11,952

Gross profit

63,259

74,721

-11,462

Selling expenses

7,326

7,121

205

General administration expenses

13,706

12,409

1,297

Research and development costs

41,192

39,994

1,198

Other operating income

10,121

9,807

314

Other operating expenses

809

455

354

Operating expenses

52,912

50,172

2,740

Operating result

10,347

24,549

-14,202

Finance income

291

671

-380

Finance expense

67

72

-5

Net finance income

224

599

-375

Profit before taxes

10,571

25,148

-14,577

Taxes on income

1,006

4,905

-3,899

Profit for the period

9,565

20,243

-10,678

Attributable to:

Owners of AIXTRON SE

10,003

20,485

-10,482

Non-controlling interests

-438

-242

-196

Basic earnings per share (EUR)

0.09

0.18

-0.09

Diluted earnings per share (EUR)

0.09

0.18

-0.09

Consolidated Statement of other Comprehensive Income

(unaudited)

in EUR thousands

9M/2020

9M/2019

+/-

Net profit for the period

9,565

20,243

-10,678

Currency translation

-2,990

479

-3,469

Other comprehensive income/loss

-2,990

479

-3,469

Total comprehensive income for the period

6,575

20,722

-14,147

Attributable to:

Owners of AIXTRON SE

7,043

20,957

-13,914

Non-controlling interests

-468

-235

-233

13

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM FINANCIAL STATEMENTS

Consolidated Statement of Financial Position (unaudited)

in EUR thousands

30/09/2020

31/12/2019

Assets

Property, plant and equipment

66,927

64,539

Goodwill

71,235

72,369

Other intangible assets

2,746

2,372

Non-current financial assets

30,000

0

Other non-current assets

484

446

Deferred tax assets

11,300

11,258

Total non-current assets

182,692

150,984

Inventories

101,624

79,022

Trade receivables

19,027

29,203

Current tax receivables

2,366

298

Other current assets

8,557

5,134

Other financial assets

84,977

27,500

Cash and cash equivalents

177,785

270,819

Total current assets

394,336

411,976

Total assets

577,028

562,960

Liabilities and shareholders' equity

Share capital

111,840

111,840

Additional paid-in capital

375,933

375,273

Accumulated losses

-19,952

-29,955

Currency translation reserve

2,604

5,564

Equity attributable to the owners of AIXTRON SE

470,425

462,722

Non-controlling interests

954

1,422

Total equity

471,379

464,144

Other non-current liabilities

2,150

2,548

Other non-current provisions

2,692

1,938

Total non-current liabilities

4,842

4,486

Trade payables

14,740

19,367

Contract liabilities for advance payments

63,156

51,051

Other current provisions

16,298

16,122

Other current liabilities

4,272

4,197

Current tax payables

2,341

3,593

Total current liabilities

100,807

94,330

Total liabilities

105,649

98,816

Total liabilities and shareholders' equity

577,028

562,960

14

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM FINANCIAL STATEMENTS

Consolidated Statement of Cash Flows (unaudited)

in EUR thousands

9M/2020

9M/2019

+/-

Cash flow from operating activities

Net profit

9,565

20,243

-10,678

Adjustments to reconcile net profit to cash

from operating activities

Expense from share-based payments

660

647

13

Depreciation, amortization and impairment

5,131

7,453

-2,322

Net result from disposal of property, plant and equipment

2

33

-31

Deferred income taxes

-122

886

-1,008

Interest and lease repayments shown under investing or

396

223

173

financing activities

Change in

Inventories

-23,135

-14,287

-8,848

Trade receivables

9,746

7,877

1,869

Other assets

-6,018

5,286

-11,304

Financial assets at FVTPL

-27,477

0

-27,477

Trade payables

-4,266

-14,492

10,226

Provisions and other liabilities

-673

-608

-65

Non-current liabilities

484

2,890

-2,406

Advance payments from customers

13,087

-9,389

22,476

Cash from operating activities

-22,620

6,762

-29,382

Investing

Capital expenditures in property, plant and equipment

-7,119

-8,423

1,304

Capital expenditures in intangible assets

-1,107

-839

-268

Proceeds from disposal of fixed assets

24

53

-29

Interest received

257

671

-414

Bank deposits with a maturity of more than 90 days

-60,000

0

-60,000

Net cash provided by (used in) investing activities

-67,945

-8,538

-59,407

Financing

Interest paid

-20

-72

52

Repayment of lease liabilities

-633

-822

189

Net cash provided by (used in) financing activities

-653

-894

241

Effect of changes in exchange rates on cash and

-1,816

-450

-1,366

cash equivalents

Net change in cash and cash equivalents

-93,034

-3,120

-89,914

Cash and cash equivalents at the beginning of the period

270,819

236,207

34,612

Cash and cash equivalents at the end of the period

177,785

233,087

-55,302

Income taxes paid

-4,723

-2,523

-2,200

Income taxes received

271

324

-53

15

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

INTERIM FINANCIAL STATEMENTS

Consolidated Statement of Changes in Equity (unaudited)

Shareholders'

Retained

equity

Subscribed

Additional

Currency

Earnings/

attributable to

capital under

paid-in

trans-

Accumulated

the owners

Non-controlling

in EUR thousands

IFRS

capital

lation

deficit

of AIXTRON SE

interests

Total

Balance January 1, 2019

111,840

374,413

4,426

-62,094

428,585

1,059

429,644

Share based payments

648

648

648

Net profit for the year

20.485

20.485

-242

20.243

Other comprehensive

472

472

7

479

income

Total comprehensive profit

472

20.485

20.957

-235

20.722

for the period

Balance Sept 30, 2019

111,840

375,061

4,898

-41.609

450.190

824

451.014

Balance January 1, 2020

111,840

375,273

5,564

-29,955

462,722

1,422

464,144

Share based payments

660

660

660

Net profit for the year

10,003

10,003

-438

9,565

Other comprehensive

-2,960

-2,960

-30

-2,990

income

Total comprehensive profit

-2,960

10,003

7,043

-468

6,575

for the period

Balance Sept 30, 2020

111,840

375,933

2,604

-19,952

470,425

954

471,379

16

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

ADDITIONAL DISCLOSURES

ADDITIONAL DISCLOSURES

Accounting Policies

This consolidated interim financial report of AIXTRON SE has been prepared in accordance with International Financial Reporting Standards (IFRS) applicable for Interim Financial Reporting, IAS 34.

The accounting policies adopted in this interim financial report are consistent with those followed in the preparation of the Group's annual financial statements for the year ended December 31, 2019.

The consolidated interim financial statements of AIXTRON SE include the following subsidiaries (collectively referred to as "AIXTRON", "the AIXTRON Group" or"the Group"): APEVA SE, Herzogenrath (Germany), AIXTRON, Inc., Santa Clara (USA); AIXTRON Ltd., Cambridge (United Kingdom); AIXinno Ltd., Cambridge (United Kingdom); APEVA Holdings Ltd., Cambridge (UK); APEVA Co Ltd., Asan (South Korea); AIXTRON Korea Co. Ltd., Hwasung (South Korea); AIXTRON China Ltd., Shanghai (PR of China); AIXTRON KK, Tokyo ( Japan) and AIXTRON Taiwan Co. Ltd., Hsinchu (Taiwan).

Due to rounding, numbers presented throughout this report may not add up precisely to the totals indicated and percentages may not precisely reflect the absolute figures for the same reason.

17

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

ADDITIONAL DISCLOSURES

Segment Reporting

Geographical Segments

(in EUR thousands)

Asia

Europe

Americas

Group

Revenues realized with

9M/2020

124,852

20,717

15,567

161,137

third parties

9M/2019

128,818

25,577

30,156

184,551

Segment assets (property,

30/09/20

727

65,875

325

66,927

plant and equipment)

31/12/19

1,133

62,925

481

64,539

Stock Option Plans

As of September 30, 2020, AIXTRON's employees and Executive Board members held stock options, representing the right to receive AIXTRON common shares. The status of these options developed as follows:

AIXTRON ordinary shares

Expired/

Sep 30, 2020

Exercised

Forfeited

Allocation

Dec. 31, 2019

Stock options to

949,850

0

45,600

0

995,450

acquire shares

18

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

ADDITIONAL DISCLOSURES

Employees

The total number of employees increased from 686 on September 30, 2019 to 715 on September 30, 2020.

Employees by Region

2020

2019

+/-

Sep. 30

%

Sep. 30

%

abs.

%

Asia

114

16

123

18

-9

-7

Europe

569

80

528

77

41

8

USA

32

4

35

5

-3

-9

Total

715

100

686

100

29

4

Management

As compared to December 31, 2019, there were no changes to the composition of the Company's Executive and Supervisory Boards as of September 30, 2020. As announced, Dr. Jochen Linck has joined the Executive Board of AIXTRON SE as Chief Operating Officer as of October 1, 2020. Furthermore, the Supervisory Board resolved to add a Chief Financial Officer to the Executive Board. The Nomination Committee of the Supervisory Board is working to fill the new Executive Board position in a timely manner.

Related Party Transactions

During the reporting period, AIXTRON did not initiate or conclude any material transactions with related parties.

Post-Balance Sheet Date Events

There were no events of particular significance or with significant effects on AIXTRON's net assets, results of operations or financial position known to the Executive Board after the reporting date of September 30, 2020.

19

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

ADDITIONAL DISCLOSURES

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", "plan", "believe", "continue" and "estimate" and variations of such words or similar expressions. These forward-looking statements are based on the current assessments, expectations and assumptions of the executive board of AIXTRON, of which many are beyond control of AIXTRON, based on information available at the date hereof and subject to risks and uncertainties. You should not place undue reliance on these forward-looking statements. Should these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of AIXTRON may materially vary from those described explicitly or implicitly in the relevant forward-looking statement. This could result from a variety of factors, such as those discussed by AIXTRON in public reports and statements, including but not limited those reported in the chapter "Risk Report". AIXTRON undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise, unless expressly required to do so by law.

This document is an English language translation of a document in German language. In case of discrepancies, the German language document shall prevail and shall be the valid version.

Our registered trademarks: AIXACT®, AIXTRON®, APEVA®, Atomic Level SolutionS®, Close Coupled Showerhead®, CRIUS®, EXP®, EPISON®, Gas Foil Rotation®, Optacap™, OVPD®, Planetary Reactor®, PVPD®, STExS®, TriJet®.

This financial report should be read in conjunction with the interim financial statements and the additional disclosures included elsewhere in this report.

20

AIXTRON QUARTERLY GROUP STATEMENT Q3/2020

Contact for investors and analysts: invest@aixtron.com

Contact for journalists: communications@aixtron.com

Cover Photograph: Fraunhofer IISB/Kurt Fuchs, Erlangen

AIXTRON does not routinely print or mail its financial reports. These are available on the

AIXTRON website under www.aixtron.com/en/investors/publications at any time.

AIXTRON SE | Dornkaulstr. 2 | 52134 Herzogenrath | Germany

Disclaimer

Aixtron SE published this content on 28 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 October 2020 10:14:11 UTC


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Sales 2020 266 M 323 M 323 M
Net income 2020 27,8 M 33,8 M 33,8 M
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Free-Float 94,3%
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Mean consensus OUTPERFORM
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Average target price 13,15 €
Last Close Price 16,02 €
Spread / Highest target 6,12%
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Spread / Lowest Target -48,8%
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Bernd Schulte Co-President
Felix Jan Grawert Co-President
Kim Schindelhauer Chairman-Supervisory Board
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