AIXTRON : FY 2020 Result Presentation.pdf

AIXTRON Investor Presentation

DISCLAIMER

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.

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.

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®

HIGHLIGHTS 3

AIXTRON - Q4 and FY/2020 Highlights

•  Strong Order Intake Continued with 92m Euros in Q4

  • • Driven by high level of demand for laser-applications and power electronics

•  Revenues and Results as expected

  • • Q4/20 Revenues almost 70% higher q-on-q

  • • EBIT and net result tripled q-on-q

•  Full Year 2020 Guidance - fully met

  • • Revenues at mid-point of 260m - 280m Euro range: 269 Million Euros 

  • • Orders at high-end of 270m - 300m Euro range: 301 Million Euros 

  • • Gross Margin spot-on at 40% and EBIT Margin at mid-point of 10% - 15% range: 13% 

•  Dividend Proposal

  • • Executive and Supervisory Boards propose a Dividend of 11 Euro Cents per Share

  • • AGM on May 19, 2021 to approve

Consolidated Income Statement*

(€ million) FY/20 To be up FY/19	+/- dated%	Q4/20 Q	Q3/20	+/-%
Revenues Cost of Sales Gross profit %	269.2 259.6 161.0 150.9 108.3 108.7 40 42	4 7 0 -2 pp	108.1 64.1 63.1 38.4 45.0 25.8 42 40	69 64 75 2 pp
Selling expenses General & admin expenses R&D Net other operating income EBIT %	9.7 9.9 18.0 16.5 58.4 55.0 (12.6) (11.6) 34.8 39.0 13 15	-2 9 6 9 -11 -2 pp	2.4 1.9 4.2 4.4 17.2 12.6 (3.3) (1.2) 24.5 8.2 23 13	26 -5 37 175 199 10 pp
Net result %	34.5 32.5 13 13	6 -	24.9 7.1 23 11	250 12 pp

Balance Sheet*

(€ million) 31/12/20 To be updated 31/12/19	30/09/20
Property, plant & equipment Goodwill Other intangible assets Others	63.5 64.5 71.0 72.4 2.9 2.4 74.9 11.7	66.9 71.2 2.7 41.8
Non-current assets	212.2 151.0	182.7
Inventories Trade receivables Others Cash, Cash deposits & Investments	79.1 79.0 41.3 29.2 8.1 5.4 249.7 298.3	101.6 19.0 10.9 262.8
Current assets	378.2 412.0	394.3
Equity	496.4 464.1	471.4
Non-current liabilities	6.6 4.5	4.8
Trade payables Advance payments from customers Others	10.8 19.4 50.8 51.1 25.8 23.9	14.7 63.2 22.9
Current liabilities	87.5 94.3	100.8
Balance Sheet total	590.4 563.0	577.0

Consolidated Statement of Cash Flows*

(€ million) FY/20 FY/19	Q4/20 Q3/20
Net Result	34.5 32.5	24.9 7.1
Adjust for Non-Cash Items	8.0 13.1	2.0 3.2
Changes in Working Capital	(19.2) (2.8)	(8.5) (2.2)
Cash Flow from Operating Activities**	23.3 42.8	18.4 8.1
Capital Expenditures/Disposals	(9.3) (7.7)	(1.1) (3.0)
Free Cash Flow	14.0 35.1	17.3 5.0
FX Effects	(2.0) (0.1)	(0.2) (0.7)
Cash, financial investments & deposits	309.7 298.3	309.7 292.8

2019 figures reflect the changed presentation of cash flow in the 2019 Annual Report **Excludes changes in financial assets

OPERATIONS

Update on our Addressed Markets

•  Demand in Optoelectronics strengthening driven by Datacom

  • • Strong demand for Datacom Lasers due to 5G build out

  • • Consumer Opto Laser demand to pick up again due to adoption of face recognition/Lidar

•  Stronger Demand in LEDs driven by Display, Horticulture

  • • ROY LED Demand driven by Full Color Mini LED Display & Backlighting, Indoor Farming

  • • Micro LED Industry moving to preparation of pilot production

•  Growth in Power Electronics driven by Telecom, Consumer Electronics, IT

  • • Tipping point of adoption reached in GaN Power, Volume Ramp for chargers and servers / datacenters

  • • Stronger GaN/GaAs RF demand due to 5G build out

  • • Growing Customer acceptance of new SiC tool

OUTLOOK

AIXTRON 2021 Guidance* - Strong Growth Expected

Based on current order situation,

Management expects for 2021**:

• • Total Order Intake between EUR 340 ~ 380 million

• • Revenues between EUR 320 ~ 360 million

• • Gross Margin of ~40%

• • EBIT Margin of ~16%

Equipment Order Backlog convertible into 2021 Revenues as of January 1, 2021: ca. EUR 130m

2021 Equipment

Order Intake Convertible into 2021 Revenues: EUR 140 ~ 180m

2021 Estimated Revenues from

After Sales: ca. EUR 50m

* Based on 1.25 USD/EUR Budget Rate; for more information please refer to the AIXTRON 2020 Annual Report, "Expected Results of Operations and Financial Position"

** Assuming that the COVID-19 pandemic will continue not to have a significant impact on the business

Financial Calendar & Contact Data

•	April 29, 2021	Q1/2021 Results, Conference Call
•	May 19, 2021	Virtual Annual General Meeting
•	July 29, 2021	H1/2021 Results, Conference Call
•	November 04, 2021	9M/2021 Results, Conference Call
•	February 24, 2022	FY 2021 Results, Conference Call

For further information please contact:

Investor Relations

Phone: [phone]

AIXTRON SE

Investor Relations & Corporate Communications Dornkaulstr. 2

52134 Herzogenrath Germany

E-Mail:[e-mail]

Public Relations

Phone: [phone]

AIXTRON - Our technology. Your future.

AIXTRON SE

Dornkaulstr. 2

52134 Herzogenrath

Germany

Phone [phone]

Fax [phone]

[e-mail]

OPERATIONS

Revenue Analysis*

FY 2020: by equipment & after sales

FY 2020: by end application

(equipment only)

FY 2020: by region

Q1/2019 Q2/2019 Q3/2019 Q4/2019 Q1/2020 Q2/2020 Q3/2020 Q4/2020

USD order intake and backlog were recorded at the prevailing budget rate (2019 & 2020: $1.20/€)

USD revenues were converted at the actual period average FX rate (2019: $1.12/€; 2020: $1.14/€)