Quarterly Group Statement

Q3/2022

AIXTRON GROUP

FINANCIALS AT A GLANCE

Key Quarterly Financials

+/-

+/-

in EUR million

9M 2022

9M 2021

%

Q3 2022

Q3 2021

%

Order intake

425.6

377.6

13%

142.8

114.2

25%

Order backlog

369.4

267.6

38%

369.4

267.6

38%

(Equipment only)

Revenue

279.9

248.1

13%

88.9

130.8

-32%

Gross profit

113.1

101.4

12%

39.3

56.3

-30%

%

40%

41%

-1pp

44%

43%

1pp

EBIT

47.6

41.1

16%

16.2

36.2

-55%

%

17%

17%

0pp

18%

28%

-10pp

Net result

50.2

42.9

17%

19.1

31.4

-39%

%

18%

17%

1pp

21%

24%

-3pp

Free cash flow

19.0

27.1

-30%

-7.5

-19.0

61%

Key Balance Sheet Data

in EUR million

30.09.22

31.12.21

Inventories

209.2

120.6

Trade Receivables

48.7

81.0

Cash, cash equivalent and other financial asset

339.2

352.5

Trade Payables

36.7

19.6

Contract liabilities for advance payments

121.8

77.0

Equity

614.7

592.2

Equity Ratio

75%

80%

Key Share Data

in EUR

9M 2022

9M 2021

Closing Price (end of period)

24.62

21.54

Period High Price

27.90

26.09

Period Low Price

15.07

14.16

Number of shares issued (end of period)

113,318,970

113,289,220

Market capitalization (end of period), million EUR

2,789.9

2,440.2

Net result per share (EUR per share)

0.45

0.39

2

AIXTRON QUARTERLY GROUP STATEMENT Q3/2022

TABLE OF CONTENTS

FINANCIALS AT A GLANCE

2

BUSINESS DEVELOPMENT

4

INTERIM MANAGEMENT REPORT (UNAUDITED)

6

Business Activity and Strategy

6

Results of Operations

7

Development of Orders

7

Exchange Rate Development of the US Dollar

7

Development of Revenues

8

Development of Results

9

Financial Position and Net Assets

10

Cash Flow

11

Opportunities and Risks

11

Outlook

12

INTERIM FINANCIAL STATEMENTS (UNAUDITED)

13

Consolidated Income Statement (unaudited)

13

Consolidated Statement of other Comprehensive Income (unaudited)

14

Consolidated Statement of Financial Position (unaudited)

15

Consolidated Statement of Cash Flows (unaudited)

16

Consolidated Statement of Changes in Equity (unaudited)

17

ADDITIONAL DISCLOSURES (UNAUDITED)

18

Accounting Policies

18

Segment Reporting

18

Stock Option Plans

19

Employees

20

Dividend

20

Financial Instruments

20

Management

21

Related Party Transactions

21

Post-Balance Sheet Date Events

21

FURTHER INFORMATION

22

Forward-Looking Statements

22

3

AIXTRON QUARTERLY GROUP STATEMENT Q3/2022

AIXTRON GROUP

BUSINESS DEVELOPMENT

Demand remains at a high level

New G10-SiC system generation already largest driver of orders in

the quarter

Gross margin increased due to improved product mix

FY 2022 growth guidance upgraded

AIXTRON continues to see very high demand for equipment to produce efficient power electronics based on gallium nitride (GaN) and silicon carbide (SiC), as well as strong demand from the areas of lasers and micro LEDs. The 9M/2022 order intake of EUR 425.6 million is at a very high level, 13% above the order intake in the same period of the previous year (9M/2021: EUR 377.6 million). The equipment order backlog as of September 30, 2022, has increased to EUR 369.4 million (9M/2021: EUR 267.6 million).

Revenues in the third quarter of 2022 at EUR 88.9 million were below the prior-year quarter (Q3/2021: EUR 130.8 million). This was mainly due to a few customer-related delivery delays and the granting of export licenses, which were not yet available as of the reporting date. Accordingly, the gross profit of the third quarter of 2022 amounted to EUR 39.3 million (Q3 2021: EUR 56.3 million). Changes in the product mix led to an improvement in the gross margin of the third quarter of 2022 to 44% (Q3/2021: 43%). Due to the unabated strong demand and stable supply chains, the Executive Board continues to expect significant growth for the year with increasing margins and order intake. The growth guidance for full year 2022, was therefore upgraded. Accordingly, the expected order intake will now range between EUR 540 and 600 million (previously: between EUR 520 and 580 million); expected revenues are unchanged between EUR 450 and 500 million; expected gross margin: now approximately 42% (previously: approximately 41%); expected EBIT margin: now between approximately 22% and 24% (previously: between approximately 21% and 23%).

At EUR 142.8 million in Q3/2022, order intake significantly exceeded the level of the prior-year quarter (Q3/2021: EUR 114.2 million). This development is particularly attributable to the very encouraging demand from the area of power electronics based on GaN and SiC. The recently introduced G10-SiC system already accounted for the highest share of total order intake in the quarter of its market launch.

4

AIXTRON QUARTERLY GROUP STATEMENT Q3/2022

AIXTRON GROUP

Revenues were EUR 88.9 million in Q3/2022 (Q3/2021: EUR 130.8 million; Q2/2022: EUR

  1. million) due to the reasons mentioned above. Gross profit in Q3/2022 was at EUR
  1. million with a gross margin of 44% (Q3/2021: EUR 56.3 million, 43%; Q2/2022: EUR
  1. million, 37%). At EUR 23.1 million, operating expenses in Q3/2022 were higher than the corresponding figure of the previous year (Q3/2021: EUR 20.1 million; Q2/2022: EUR
  1. million) mainly due to higher variable compensation components and lower R&D grants. With an operating result (EBIT) of EUR 16.2 million and an EBIT margin of 18% (Q3/2021: EUR 36.2 million, 28%; Q2/2022: EUR 17.2 million, 17%), net profit in the third quarter of 2022 amounted to EUR 19.1 million (Q3/2021: EUR 31.4 million; Q2/2022: EUR
  1. million).

Free cash flow in Q3/2022 was EUR (7.5) million (Q3/2021: EUR (19.0) million; Q2/2022: EUR 4.0 million). The deviation from the previous quarter is mainly due to a strong increase in inventories in preparation for exceptionally high shipments in the fourth quarter of 2022.

AIXTRON reported cash and cash equivalents including financial assets of EUR 339.2 million as of September 30, 2022 (December 31, 2021: EUR 352.5 million; September 30, 2021: EUR 330.7 million). The change compared to December 31, 2021 is mainly due to the dividend payment in May 2022. The equity ratio at September 30, 2022 was 75% (December 31, 2021: 80%; September 30, 2021: 78%).

Overall, the current global crisis situations and market developments continue to have only a minor impact on our business. Logistics and supply chains are tense, but in our view remain stable overall.

5

AIXTRON QUARTERLY GROUP STATEMENT Q3/2022

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Aixtron SE published this content on 27 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2022 05:33:02 UTC.