Q1/2024 Investor Presentation

Dr. Felix Grawert, CEO

Dr. Christian Danninger, CFO

25 April 2024

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.

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®, Close Coupled Showerhead®, EXP®, EPISON®, Gas Foil Rotation®, Optacap™, OVPD®, Planetary Reactor®, PVPD®, STExS®, TriJet®

1

AIXTRON - Q1/2024 Update (1/2)

Financials Q1/2024: Strong increase in revenues and in profit

  • Revenues up 53% yoy to EUR 118m
  • Gross Profit up 41% yoy; Gross Margin at 37% (-3pp yoy due to product mix)
  • EBIT up 183% yoy to EUR 10m; EBIT-Margin improved to 8% (+3pp yoy)
  • Net Profit up 209% to EUR 11m

Market Q1/2024: Growing success in SiC and strong momentum for G10 system generation

  • Order intake Q1/24 at EUR 120m with Equipment Order Backlog with EUR 355m stable at FY23 level
  • SiC Power:
      • Clear #1 position with growing market share
      • G10-SiCnow very well established meeting quality specs and providing lowest cost per wafer
      • Technical progress with G10-SiCconfirmed by multiple customers - upgrades for installed base throughout 2024
      • Winning an additional SiC-customer out of the Top-5 with multiple tools - 3 of the Top-5SiC-playersnow count on G10-SiCfor their 200 mm volume ramp
      • Multiple SiC new customer wins ...
        • … including a large volume order from China
        • … including several customers from Japan
    • GaN Power:
      • Clear #1 position with very strong market share
      • Growing adoption of G10-GaN amongst new and repeat customers based on best performance and cost per wafer
      • GaN volume ramp continuing across
        • All applications (consumer electronics, datacenters, automotive, PV)
        • All geographic regions

2

AIXTRON - Q1/2024 Update (2/2)

Market Q1/2024 (continued)

  • Optoelectronics / Lasers:
    • Clear #1 position with very strong market share
    • Stable demand in Optoelectronics driven by demand for datacom / telecom lasers
    • Lasers critical to datacenters to meet higher demands of AI workloads (within-datacenter,datacenter interconnect)
  • Micro LED and LED:
    • Clear #1 position with very strong market share
    • Leading position acknowledged by the recent award from BOE HC SemiTek
    • Multiple customers placing new orders in Micro LED resulting in 37% of OI in Q1/24
    • Traditional ROY LED investment wave expected to result in high double-digit EURm revenues in FY24
    • Micro LED revenues FY24 expected at high double-digitEURm driven by several customers building R&D and pilot production lines continuing to commercialize Micro LED technology

Construction of Innovation Center fully on track and within budget

FY/2024 Growth Guidance Reiterated

  • Revenues FY/24E: EUR 630m - 720m; Q2/24E: EUR 120m - 140m
  • Gross Margin FY/24E: 43% - 45%
  • EBIT Margin FY/24E: 24% - 26%

1 Based on $1.15/€ Budget Rate

3

Update Innovation Center

Innovation Center construction is fully on track

Picture shows construction status in March 2024

4

Consolidated Income Statement1

(EUR million)

Q1/2024

Q1/2023

+/- (%)

Q1/2024

Q4/2023

+/- (%)

Revenues

118.3

77.2

53%

118.3

214.2

(45)%

Cost of sales

74.5

46.1

62%

74.5

116.0

(36)%

Gross profit

43.8

31.1

41%

43.8

98.2

(55)%

Gross margin

37%

40%

(3)pp

37%

46%

(9)pp

Selling expenses

3.7

3.1

19%

3.7

4.0

(8)%

General & admin expenses

7.6

8.0

(5)%

7.6

8.3

(8)%

R&D

22.9

19.2

19%

22.9

27.9

(18)%

Net other operating income

(0.4)

(2.6)

(85)%

(0.4)

(5.4)

(93)%

EBIT

9.9

3.5

183%

9.9

63.4

(84)%

EBIT margin

8%

5%

3pp

8%

30%

-22pp

Net profit

10.8

3.5

209%

10.8

61.7

(82)%

1 Rounded figures; may not add up

5

Consolidated Balance Sheet1

(EUR million)

31.03.24

31.12.23

30.09.23

Property, plant & equipment and leased assets

147.8

106.2

169.9

Goodwill

72.7

72.3

72.8

Other intangible assets

4.8

4.4

3.3

Others

44.0

41.8

36.6

Non-current assets

291.5

266.3

218.9

Inventories

436.4

394.5

380.5

Trade receivables

118.0

157.6

107.0

Others

41.9

30.0

27.0

Cash & cash deposits & investments

148.5

181.7

209.9

Current assets

744.8

763.7

724.3

Equity

790.4

777.6

716.6

Non-current liabilities

7.7

7.7

7.7

Trade payables

55.0

57.8

52.7

Contract liabilities for advance payment

138.3

141.3

125.5

Others

44.9

45.6

40.7

Current liabilities

238.2

244.6

218.9

Balance sheet total

1,036.3

1,029.9

943.2

1 Rounded figures; may not add up

6

Consolidated Statement of Cash Flows1

(EUR million)

Q1/2024

Q1/2023

Q1/2024

Q4/2023

Net result

10.8

3.5

10.8

61.7

Adjust for:

Non-cash items

3.0

3.2

3.0

(1.5)

Changes in Working Capital

(21.2)

(0.9)

(21.2)

(41.8)

Cash flow from operating activities

(7.4)

5.8

(7.4)

18.4

Capital expenditures/disposals

(25.7)

(3.9)

(25.7)

(45.7)

Free cash flow

(33.1)

1.9

(33.1)

(27.3)

FX effects/other

0.4

(0.6)

0.4

(1.2)

Cash & cash deposits & investments

148.5

327.5

148.5

181.7

1 Rounded figures; may not add up

7

AIXTRON - Guidance for Q2/2024 and FY/2024

EUR million

Guidance1

Q2/20241

FY/ 20241

Revenues

EUR 120m - 140m

EUR 630m - 720m

Gross Margin (%)

43% - 45%

EBIT Margin (%)

24% - 26%

Revenue Guidance FY/2024

EUR million

~80

~100

~ 118

~ 130-220

~ 90

~370

~300~ 290

Q1/2024 Revenues

Q2-Q4/24e Revenues After Sales

Q2-Q4/24e from Equipment Order Backlog

Q2-Q4/24e from New Orders

1: At $1.15/€ Budget Rate for 2024; please refer to "Expected Results of Operations and Financial Position" in the AIXTRON 2023 Annual Report

8

24 Months Business Development

EUR million

Order Intake

(incl. equipment & after sales)1

@ $1.20

@ $1.15

@ $1.15

204

178

153

143

160

140

Revenues

Order Backlog

(incl. equipment & after sales)2

(equipment only)1

@ $1.15

@ $1.06

@ $1.08

@ $1.09

@ $1.20

@ $1.15

418

412

369

352

368

354

355

314

214

183

173

165

118120

102

118

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2022

2023

2024

8977

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

2022

2023

2024

2022

2023

2024

1 USD order intake and backlog were recorded at the prevailing budget rate (2022: $1.20/€; 2023: $1.15/€: 2024: $1.15€)

2 USD revenues were converted at the actual period average FX rate (2022: $1.06/€; 2023: $1.08/€; 2024: $1.09€)

9

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Disclaimer

Aixtron SE published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 06:58:10 UTC.