AIXTRON Investor Presentation
IR Presentation – 9M/2015
(FSE: AIXA, ISIN DE000A0WMPJ6, NASDAQ: AIXG, ISIN: US0096061041)
©
AIXTRON Investor Relations, October 2015
AIXTRON INVESTOR PRESENTATION
2
Forward-Looking Statements
This document may contain forward-looking statements regarding the business, results of operations,
financial condition and earnings outlook of AIXTRON within the meaning of the safe harbor provisions of
the US Private Securities Litigation Reform Act of 1995. 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 our
current views and assumptions and are subject to risks and uncertainties. You should not place undue
reliance on these forward-looking statements. Actual results and trends may differ materially from those
reflected in our forward-looking statements. This could result from a variety of factors, such as actual
customer orders received by AIXTRON, the level of demand for deposition technology in the market, the
timing of final acceptance of products by customers, the condition of financial markets and access to
financing for AIXTRON, general conditions in the market for deposition plants and macroeconomic
conditions, cancellations, rescheduling or delays in product shipments, production capacity constraints,
extended sales and qualification cycles, difficulties in the production process, the general development in
the semi-conductor industry, increased competition, fluctuations in exchange rates, availability of public
funding, fluctuations and/or changes in interest rates, delays in developing and marketing new products, a
deterioration of the general economic situation and any other factors discussed in any reports or other
announcements field by AIXTRON with the U.S. Securities and Exchange Commission. Any forward-looking
statements contained in this document are based on current expectations and projections of the Executive
Board and on information currently available to it and are made as at the date hereof. 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.
ABOUT AIXTRON
3
Who we are

Headquarters based in Herzogenrath, Germany

Technology leader in deposition systems

Worldwide presence with 12 sales/representatives offices

More than 3,000 deposition systems delivered
and production facilities
all over the world

Company founded in 1983 – over 30 years of experience

State of the art R&D center and demo facilities

~750 employees

Annual R&D budget of approx. € 60 Million
ABOUT AIXTRON
Global Presence
4
ABOUT AIXTRON
5
Our Vision
Technology. Materials. Performance.
Technology.
Materials.
Performance.
We are the recognized
technology leader
in complex material
deposition.
We enable our
customers to
successfully shape the
markets of the future,
exploiting the potential
offered by new
materials.
We deliver the
performance driving
economic success
through our expertise,
our employees and the
quality of our products.
AIXTRON TECHNOLOGIES
6
Our Technology. Your FUTURE.
Compound
Semiconductors
Silicon
Semiconductors
LED Lighting
Memory & Logic
OLED
Power Management
Organic
Carbon
AIXTRON TECHNOLOGIES AND PRODUCTS
7
Our Technology Portfolio
Compound Semiconductors
MOCVD
LEDs, Lasers and
Optoelectronics
• LEDs for display:
TVs, mobile phones,
tablets, etc.
• LEDs for lighting
• LEDs for automotive
• LEDs for datacom
• Lasers for telecom,
consumer electronics
• Photovoltaics
Increasing Equipment
Demand Expected by:
2015
Power Management
GaN / SiC
•
•
•
•
•
RF transistors
AC-DC converters
DC-DC converters
Solar inverters
Motor drives in
industrial applications
automotive and
consumer electronics
Increasing Equipment
Demand Expected by:
2015/2016
Silicon
Semiconductors
Organic
Carbon
ALD/MOCVD
OVPD®/PVPD®/TFE
PECVD
Silicon
Semiconductors
Organic Electronics
Graphene,
CNTs and CNWs
• DRAM Dielectric and Metal
Electrode
• Flash Inter Poly Dielectric
and Metals
• Logic Gate stack
• ReRAM and PCRAM Active
element and Electrode
• Logic High Mobility
Channel
Increasing Equipment
Demand Expected by:
2015
• OLEDs for display:
TVs, mobile phones,
tablets, etc.
• Thin Film Encapsulation
• OLEDs for lighting
• Organic, flexible
electronics
• Organic Photovoltaics
Increasing Equipment
Demand Expected by:
2016/2017
•
•
•
•
•
Transistors
Interconnects
Flexible Electronics
Energy Storage
Sensors, etc.
Increasing Equipment
Demand Expected by:
Beyond 2018
FINANCIALS
8
24 - Month Business Development
(€ million)
Order Intake1
49.0
49.5
49.7
@ $1.30
Order Backlog
59.6
50.2
49.3
48.9
64.2
66.4
65.2
*
79.0
@ $1.35
@ $1.30
34.4
@ $1.25
@ $1.35
70.7
52.5
91.2
72.3
@ $1.25
*) revalued on Jan.1, 2015 to €69.0m at $1.25/€
Total Revenues
51.1
@ 1.327
43.9
46.2
45.6
58.0
@ $1.334
40.3
40.4
54.6
@ $1.122
Q4/2013 Q1/2014 Q2/2014 Q3/2014 Q4/2014 Q1/2015 Q2/2015 Q3/2015
1) From Q1/2015, total order intake includes spares & service; adopted for Q4/2013~Q4/2014 for comparison reasons
USD order intake and backlog were recorded at the prevailing budget rate (2015: $1.25/€)
USD revenues were converted at the actual period average FX rate (9M/2015: $1.12/€)
FINANCIALS
9
Consolidated Income Statement*
(€ million)
9M/15
9M/14
Restated
+/-
Q3/15
Q2/15
+/-
Revenues
135.3
135.8
0%
54.6
40.4
35%
Cost of sales
105.1
106.51
-1%
36.8
36.8
0%
Gross profit
30.2
29.21
3%
17.8
3.6
394%
22%
22%1
0 pp
33%
9%
24 pp
9.0
10.21
-12%
2.7
3.0
-10%
General & admin expenses
12.1
13.9
-13%
3.6
4.2
-15%
R&D
41.1
45.5
-10%
13.5
14.6
-8%
Net other op.(income)/expenses
(6.7)
(0.9)
n.m.
(3.4)
(0.3)
n.m.
EBITDA
-17.6
-27.5
36%
4.1
-15.3
127%
EBIT
-25.2
-39.4
36%
1.5
-17.9
108%
-19%
-29%
10 pp
3%
-44%
47 pp
Result before tax
-24.6
-38.5
36%
1.6
-17.7
109%
Pre-Tax Margin
-18%
-28%
10 pp
3%
-44%
47 pp
-27.3
-43.4
37%
0.3
-18.1
102%
-20%
-32%
12 pp
1%
-45%
46 pp
Gross Margin
Selling expenses
EBIT Margin
Net result
Net Return on Sales
*)
1)
rounded figures; may not add up
Restated; please refer to “Accounting Policies” in the 9M/2015 Report
FINANCIALS
10
Consolidated Statement of Financial Position*
(€ million)
30/9/15
31/12/14
30/9/14
Property, plant & equipment
80.9
77.3
78.2
Goodwill
75.7
64.8
64.8
Other intangible assets
6.4
2.5
2.6
Others
4.6
4.6
5.9
167.6
149.2
151.5
Inventories, WIP & Finished Goods
87.0
81.7
83.5
Trade receivables
22.9
26.3
26.4
7.5
8.3
10.7
243.5
268.1
260.5
Current Assets
361.0
384.4
381.0
Shareholders' equity
396.5
415.7
432.6
3.1
1.3
1.6
Trade payables
16.5
16.4
23.8
Advance payments from customers
84.8
66.9
47.1
Others
27.7
33.2
27.4
129.0
528.6
116.5
533.5
98.4
532.5
Non-current assets
Others
Cash & Cash Equivalents incl. CD
Non-current liabilities
Current liabilities
Balance Sheet total
*)
rounded figures; may not add up
FINANCIALS
11
Consolidated Statement of Cash Flows*
(€ million)
9M/15
9M/14
Q3/15
Q2/15
Cash Flow from operating activities
-13.5
-43.6
-7.2
3.7
Cash Flow from investing activities
11.1
6.1
2.2
-2.4
Cash Flow from financing activities
-0.2
-0.1
0.0
-0.2
Exchange rate changes
3.5
5.2
-1.7
-1.0
Net change in Cash & Cash Equivalents
0.9
-32.5
-6.7
0.1
Cash & Cash Equivalents (beginning of period)
116.6
167.5
124.1
124.0
Cash & Cash Equivalents (end of period)
117.5
135.0
117.5
124.1
Change in Cash deposits
-27.5
-15.4
-5.0
-7.6
Free Cash Flow1
-22.3
-52.9
-10.0
-0.1
10.3
9.4
2.9
3.8
Capex
*)
1)
rounded figures; may not add up
Operating CF + Investing CF + Changes in Cash Deposits, adjusted for acquisition effects (upfront payments and loan)
FUTURE MARKETS
12
Market Prospects
Short-Term
•
•
•
•
•
•
Further increasing adoption of LEDs for exterior, public infrastructure & commercial lighting
Increased adoption of LEDs for consumer & residential lighting
Market positioning of the new AIX R6 MOCVD tool for LED manufacturing
Increasing adoption of GaN for power electronics
Increased emergence of silicon carbide (SiC) hybrid automotive & photovoltaic applications
Next generation NAND & DRAM memory applications
Mid- to Long-Term
• Development of organic semiconductors applications using efficient deposition and thin-film encapsulation
technologies
• Development of GaN-on-Si based power electronics or LEDs
• Development of new wide-band-gap applications such as RF and SOC with integrated power management
• Further development of plastic electronics/flexible TFT backplanes
• Increased development for specialized compound solar cells
• Higher demand for High-k as well as interconnect components
• Progress in the convergence of compound material applications, e. g. substituting materials in the silicon
semiconductor industry
• Development of applications using carbon nanostructures including graphene
AIXTRON INVESTOR PRESENTATION
13
INDUSTRY & MARKETS
14
LED Lighting Market: Multiple Tipping Points
Source: : AIXTRON, McKinsey 2012
LED Lighting Cycle
Various
Applications
Different
Regions
Numerous
Players
INDUSTRY & MARKETS
15
LED Lighting Market Estimates
Source: IHS Q1/2015, Strategies Unlimited
Globalization and urbanization to drive LED lighting opportunities:
• Emerging countries: need for energy efficient lighting solutions
• Developed countries: SSL driven by expanding renovation market
• Outdoor: Early adoption streetlight replacement market
• Commercial: LED Light Bulb reaching price tipping point
LED Market Forecast
16
4.0
35%
14
3.5
30%
3.0
25%
2.5
20%
2.0
15%
1.5
LED lamps (LHS)
LED lamps as % of total
2022e
2021e
2020e
2019e
0%
2018e
0.0
2017e
5%
2016e
0.5
2015e
10%
2014
1.0
Market size (in US$ billion)
40%
LED penetration
4.5
2013
billion units
Global LED lamp shipments
12
10
8
6
4
2
2014
2015e
Others
2016e
Automotive
2017e
Signs
2018e
Lighting
2019e
Mobile/Display
INDUSTRY & MARKETS
16
Increasing LED Area Demand Driving Growth
• Growth through increasing LED-unit and area demand
• Consistent epitaxial area growth will trigger equipment demand
• LED-lighting gaining further momentum
LED Units
2” Equivalent Wafer
60,000
HB LED Market (2" Equivalent Wafer in 000)
100
50
50,000
40,000
30,000
20,000
10,000
Display
Lighting
Mobile & Others
(0.1mm²)
Based on compilation of latest opinions by: DisplaySearch; Strategies Unlimited; Displaybank;
Gartner Dataquest; IMS Research.; McKinsey Lighting Report
Display
Lighting
(0.25mm²)
(0.75-1mm²)
2019e
2018e
2017e
2016e
2019e
2018e
2017e
2016e
2015e
2014e
Mobile & Others
2015e
0
0
2014e
HB LED Market (bn units)
150
INDUSTRY & MARKETS
17
Production Supply 3rd Party Estimates for HB LEDs
Analysts’ Bull-Bear MOCVD system demand estimates
Larger area and future replacement to drive equipment demand
SSL is the strongest driver for material area growth
Incremental LED units and area growth every year
Incremental Material Area
Incremental LED Units
8,000
Incremental HB LEDs
(2" Equivalent Wafer in 000)
Incremental HB LEDs (bn units)
15
10
5
600
7,000
6,000
400
5,000
4,000
3,000
200
2,000
1,000
0
2015e
2016e
2017e
2018e
Incremental HB LEDs - Units
2019e
0
0
2015e
2016e
2017e
2018e
2019e
Incremental HB LEDs - Area (LHS)
MOCVD Systems - Bear (RHS)
MOCVD Systems - Bull (RHS)
Based on compilation of latest opinions by: Strategies Unlimited; DisplaySearch; Gartner Dataquest; IMS Res; McKinsey Lighting Report; Baader Bank; Bankhaus Lampe;
Berenberg; Canaccord Genuity; CLSA; Commerzbank; Deutsche Bank, DZ Bank; Exane BNP; Goldman Sachs; JG Capital; JP Morgan;
Liberum; Morgan Stanley; Needham; Susquehanna; UBS
Required number of MOCVD reactors
•
•
•
•
INDUSTRY & MARKETS
18
A-19 Bulb: 60W* LED Replacement – Global Pricing
Source: Various websites; AIXTRON
 Global Brands: Samsung, Osram, Philips, GE, Toshiba, etc.
 New light bulbs with higher lm/W being offered
 Brand suppliers increasingly offering attractively priced devices
Regions
Halogen
CFL
LED
Average US
$ 1.5
$ 1.7
$4
Average Japan
$ 1.9
$ 3.2
Average EU
$ 1.5
Average Korea
QoQ
+/-
LED vs. Hal. LED vs. CFL
(x)
(x)
Low
High
11%
$2
$8
2.8x
2.5x
$ 11
2%
$7
$16
5.6x
3.4x
$ 4.0
$9
3%
$5
$14
4.5x
2.2x
$ 1.5
$ 3.1
$8
11%
$5
$12
5.7x
2.7x
Average Taiwan
$ 2.4
$ 3.8
$7
14%
$4
$9
2.8x
1.8x
Average
$ 1.8
$ 3.1
$8
8%
$2
$16
4.2x
2.4x
* According to Tab. 6 of EU-Regulation 244/2009 requiring >700lm minimum for 60W
AIXTRON TECHNOLOGIES AND PRODUCTS
19
Technology Position
MOCVD for Power
Management
MOCVD for III-V on
Silicon
MOCVD for LEDs,
Lasers and
Optoelectronics
ALD for Memory
 Customer A
ALD for Memory
 Customer B & C
OVPD for OLED
deposition
Carbon
R&D
Thin-Film
Encapsulation for
OLED
Demo &Qualification
Pilot Production
High Volume Production
AIXTRON TECHNOLOGIES AND PRODUCTS
20
Compound Semiconductors – MOCVD System Generations
Two Reactor Technologies  Planetary Reactor® & Close Coupled Showerhead® (CCS)
• Extendibility: Extensive choice of configurations and enhancements
• Scalability:
Multiple technologies on one platform
• Productivity: Highest throughput, best yield, fastest growth rates
Year of Introduction
Technology
Chambers
2002
•
•
G3 Planetary
19x2” CCS
•
•
24x2”, 8x4”
19x2”
2006
•
•
G4 HT Planetary
CRIUS® CCS
•
•
42x2”, 11x4”, 6x6”
31x2”, 12x3”, 7x4”, 3x6”, 1x12”
2010/ 2011
•
•
G5 HT Planetary
CRIUS® II-eXL CCS
•
•
56x2”, 14x4”, 8x6’’, 5x8’’
75x2”, 19x4”
2012
•
G5+ HT Planetary
•
5x8” GaN-on-Si Technology
2014
•
•
G5 WW
AIX R6
•
•
12x4”, 8x6”
121x2”, 31x4”, 12x6”
AIXTRON TECHNOLOGIES AND PRODUCTS
21
Compound Semiconductors – MOCVD
Two Reactor Technologies  Planetary Reactor® & Close Coupled Showerhead® (CCS)
• Addressing multiple industries
• Established industry standard & market leading
• Configurable, extendable common platform
• Introduced the latest MOCVD technology - AIX R6
Planetary Reactor®
AIX G5+, 5x8
Close Coupled Showerhead®
AIX R6, 31x4”
• Unique Planetary reactor design
• Horizontal reactor type
• Patented CCS Technology
• Vertical reactor design
AIXTRON TECHNOLOGIES AND PRODUCTS
22
Compound Semiconductors – Power Electronics
Consumer Electronics & IT
Automotive
Power Management
30V
•
•
•
•
•
•
•
•
•
•
•
Infotainment
GPS
Connected car
Autonomous driving
EMI/EMC
Adaptive cruise control
GaN
Volume segment
• General automotive electro
nic
• HEV/EV
• Charging station
• Inverter / motor drives
• Converter
• Radar test applications
GaN / SiC
Niche segment
Industrial
Power Switching
600V
Electronic appliances
Computing
Wireless charging
Power supplies
PFC
Energy
1.2 kV
• Power Grid / Smart meter
/ appliances
• Solar / Wind inverters
• Solar / Wind power DC dis
tribution
• storage
• UPS
≥2kV
UPS
Industrial machines
Building
Mining, oil, gas power
generation
• Shipping/Rail
•
•
•
•
SiC
AIXTRON TECHNOLOGIES AND PRODUCTS
23
Carbon Nanostructures – PECVD
Graphene and Carbon Nanotube Deposition Systems
•
Proprietary thermal and plasma enhanced chemical vapour deposition technology
•
Excellent uniformity and reproducibility with fast turnaround cycle times
•
BM platform: BM R&D (2-inch), BM Pro (4-inch and 6-inch), BM GB (4-inch glovebox), BM HT (high temperature, 1,700C), BM300T (300mm)
•
Graphene and carbon nanotube films for electronics, energy storage, thermal management, sensors and flexible/transparent applications
Product features
•
•
•
Fast response heater and turnaround
•
•
•
Closed loop infrared wafer temperature control
•
•
•
Material
Properties
AIXTRON
Technology
Enabling
Applications
Thermal CVD
Substrate and top heating
Plasma enhanced CVD with frequency control
Flexible processing for different applications
Low cost of ownership
Easy maintenance and cleaning
User management features and growth library
Graphene (2D) and Carbon nanotube
(1D)
Unique combination of high electrical/
thermal conductivity, mobility, flexibility
and transparency
Serving R&D market today
Production ready for tomorrow
AIXTRON BM Pro
AIXTRON BM300T
AIXTRON TECHNOLOGIES AND PRODUCTS
Organic Electronics – OVPD®
Product Description – OVPD
 Proprietary carrier-gas enhanced gas phase deposition approach for organic thin films*
 Based on AIXTRON‘s core competence of carrier gas enhanced vapour phase deposition
 Free scalability: suitable for all relevant substrate generations
 Manufacturing technology applicable for OLED displays, OLED lighting,
organic semiconductors, and organic photovoltaic
“Disruptive deposition technology for
cost efficient OLED manufacturing”
 Proprietary STExS™ evaporation source technology: low thermal stress, high rates,
continuous operation
Product Features
 High deposition rates for high throughput
 Reduced thermal stress for organic materials
 High material utilization efficiency
 Flexible process control
 Simplified scaling due to
 Close Coupled Showerhead and
 Decoupled source technology
 Flexible integration solutions batch and inline
 Reduced number of deposition chamber and
footprint
 Scalable: Available for substrate sizes
up to Gen8.5 (=2.3 x 2.5 m²)
2014 | Corporate Presentation
OVPD Gen2
OVPD-200 (200x200 mm²)
AIXTRON TECHNOLOGIES AND PRODUCTS
Organic Electronics – OPTACAP™ PECVD
Product Description – OptaCap™ PECVD
 Proprietary PECVD technology based on linear plasma sources
 Based on AIXTRON‘s core competence of carrier gas enhanced vapour phase deposition
 Free scalability: suitable for all relevant substrate generations
 Manufacturing technology applicable for barrier applications, i.e. thin film encapsulation:
highly flexible, low film stress, high transparent, high water and oxygen permeation barrier,
Product Features
 High deposition rates for high throughput
 Flexible process control
 Simplified scaling due to
 Linear PECVD source technology
 Multiple source configurations
 Scalable: Available for substrate sizes
up to Gen3.5, future: up to Gen8.5
 Highly flexible SiNx-based barrier films at high
rates
 Low temperature process (<80°)
with low film stress
2015 | AIXTRON OSTS INTRODUCTION
2014 | Corporate Presentation
OPTACAP-200
200x200 mm² Substrates
“Disruptive deposition technology
for cost efficient deposition of
flexible barrier films”
AIXTRON TECHNOLOGIES AND PRODUCTS
26
Organic Electronics – OVPD® + Encapsulation
Source: DisplaySearch, AIXTRON
OLED manufacturing process
Cleaning
ITO deposition
Coating
Etching
Cleaning
Glass cutting
Organic material
deposition
Bonding
Cathode deposition
Aging
Encapsulation
Final test
Stripping
Test and repair
Front-end
Array process equipment
Front-end
Cell process equipment
Targeted technology
Back-end
Module process equipment
AIXTRON TECHNOLOGIES AND PRODUCTS
27
Organic Electronics – Front-end Process Equipment
Source: IHS; AIXTRON internal estimates
Focus Activities
Cumulative Capex
Key competency: Thin-film deposition
Value creation:
60%
100%
80%
75%
55%
45%
40%
10%
5%
Cleaning
Deposition
Cathode
deposition
20%
20%
5%
Encapsulation
Module
preparation
Automation
AIXTRON TECHNOLOGIES AND PRODUCTS
28
Silicon Semiconductors – ALD
Product Description – ALD
•
300mm ALD Technology
•
QXP-8300 Mini-batch system
•
High throughput : 2 Process Chambers – 8 stations
•
Up to 3 vaporizers and one bubbler
•
Applications : DRAM, Logic and Flash High k Dielectric
Metal electrode : ReRAM and PCRAM Active elements
•
Proven in HVM with >40% lower CoO and >90% Uptime in DRAM and Flash Fabs
Product Features
• Up to 3 patented TriJet vaporizers
• Small volume confined process space ensure
short ALD cycle time
• > 40 % less precursor consumption
• Efficient purge
• Isolated multi wafer processing with
> 40% higher throughput
• Close Coupled Showerhead for uniform
•
distribution
Flexibility and ease of maintenance
“Best-in
class technology, state of the art
deposition system, lowest CoO”
AIXTRON TECHNOLOGIES AND PRODUCTS
29
Silicon Semiconductors – ALD and MOCVD
Source: Gartner 2015
Benefits – ALD and MOCVD
• Multi generation film development for Memory and Logic
• Advanced technology nodes require high productivity ALD equipment
• Introduction of new materials drives ALD and MOCVD processes
Rapid growth in advanced tech nodes
AIXTRON
Positioning
Silicon ICs:
“Decade of Materials”
CNT
Graphene
III-Vs /Si
ReRAM
High-k dielectrics
600

(2014: Indexed=100)
CAGR: 38%
500

400

300
 
CAGR: 2%
200
100
 
Metal Gates
Transistor
gate length
22
14
10
7
nanometers
5
R&D
HVM
-
Worldwide Fab Capacity
all nodes
2014
Worldwide Fab Capacity
≤ 22nm
2019e
FINANCIALS
30
Consolidated Income Statement*
(€ million)
2014
2013
2012
Revenues
193.8
182.9
227.8
Cost of sales
152.3
190.3
227.4
Gross profit
41.5
-7.4
0.4
20%
-4%
0%
Selling expenses
16.0
29.0
34.8
General & admin expenses
19.3
18.2
19.6
R&D
66.7
57.2
72.9
Net other op.(income)/expenses
-2.2
-16.0
5.5
-58.3
-95.7
-132.3
-30%
-52%
-58%
Result before tax
-57.1
-95.2
-129.9
Pre-Tax Margin
-29%
-52%
-57%
-62.5
-101.0
-145.4
-32%
-55%
-64%
Gross Margin
EBIT
EBIT Margin
Net result
Net Return on Sales
*)
rounded figures; may not add up
FINANCIALS
31
Consolidated Statement of Financial Position*
(€ million)
31/12/14
31/12/13
31/12/12
Property, plant & equipment
77.3
79.9
97.6
Goodwill
64.8
64.1
64.3
Other intangible assets
2.5
3.1
4.2
Others
4.6
5.7
6.3
149.2
152.7
172.4
Inventories, WIP & Finished Goods
81.7
66.2
126.0
Trade receivables
26.3
27.7
37.3
8.3
10.3
14.8
268.1
306.3
209.5
Current Assets
384.4
410.5
387.6
Shareholders' equity
415.7
465.4
470.0
1.3
2.4
1.4
Trade payables
16.4
13.5
9.7
Advance payments from customers
66.9
46.2
46.0
Others
33.2
35.7
32.9
116.5
533.5
95.4
563.2
88.5
560.0
Non-current assets
Others
Cash & Cash Equivalents incl. CD
Non-current liabilities
Current liabilities
Balance Sheet total
*)
rounded figures; may not add up
FINANCIALS
32
Consolidated Statement of Cash Flows*
(€ million)
2014
2013
2012
Cash Flow from operating activities
-33.8
8.2
-45.2
Cash Flow from investing activities
-23.2
-39.7
-4.4
Cash Flow from financing activities
0.2
101.6
-24.3
Exchange rate changes
5.9
-2.4
0.8
Net change in Cash & Cash Equivalents
-50.9
67.7
-73.2
Cash & Cash Equivalents (beginning of period)
167.5
99.7
172.9
Cash & Cash Equivalents (end of period)
116.6
167.4
99.7
9.9
30.4
-11.9
Free Cash Flow1
-47.0
-1.1
-61.6
Capex
13.4
10.1
16.5
Change in Cash deposits
*)
1)
rounded figures; may not add up
Operating CF + Investing CF + Changes in cash Deposits, adjusted for acquisition effects (upfront payments and loan)
OPERATIONS
33
Revenue Analysis
9M/2015:
by equipment & spares
9M/2015:
by end application
9M/2015:
by region
(equipment only)
8%
27%
16%
22%
28%
12%
17%
25%
72%
73%
LED
Equipment
Silicon
Asia
Spares
Power Electronics
Europe
Optoelectronics
Americas
Others
OPERATIONS
34
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
LED
Silicon
Power Electronics
* Optoelectronics includes applications in Consumer Optoelectronics, Telecom/Datacom, Solar, etc.
Optoelectronics*
Others
250
150
1Q98
2Q98
3Q98
4Q98
1Q99
2Q99
3Q99
4Q99
1Q00
2Q00
3Q00
4Q00
1Q01
2Q01
3Q01
4Q01
1Q02
2Q02
3Q02
4Q02
1Q03
2Q03
3Q03
4Q03
1Q04
2Q04
3Q04
4Q04
1Q05
2Q05
3Q05
4Q05
1Q06
2Q06
3Q06
4Q06
1Q07
2Q07
3Q07
4Q07
1Q08
2Q08
3Q08
4Q08
1Q09
2Q09
3Q09
4Q09
1Q10
2Q10
3Q10
4Q10
1Q11
2Q11
3Q11
4Q11
1Q12
2Q12
3Q12
4Q12
1Q13
2Q13
3Q13
4Q13
1Q14
2Q14
3Q14
4Q14
1Q15
2Q15
3Q15
OPERATIONS
35
Equipment Order Intake per Quarter
(EUR million)
driven by
telecom/datacom
and mobile phone
driven by strategic
China investments
driven by LED TV
200
driven by
mobile phone
penetration
Compound Semiconductor Market
driven by
notebook
backlighting
100
50
0
China Investments
ABOUT AIXTRON
36
Global Presence
AIXTRON SE Headquarters
Herzogenrath, Germany
AIXTRON Ltd.
Cambridge, United Kingdom
AIXTRON Inc.
Sunnyvale, California, USA
Core of AIXTRON’s activities is
the Technology and R&D Center
near Aachen.
Focus on the enhancement of
material sciences and carbonnanotechnology research.
Focus on silicon applications for
leading suppliers of DRAM and
CMOS.
Focus on engineering and
process development in MOCVD
and organic semiconductors.
37
Financial Calendar & Contact Data
•
February 23, 2016
FY 2015 Results, Conference Call
•
April 26, 2016
Q1/2016 Results, Conference Call
•
May 25, 2016
Annual General Meeting, Aachen
•
July 26, 2016
H1/2016 Results, Conference Call
•
October 25, 2016
9M/2016 Results, Conference Call
For further information please contact:
Investor Relations & Corporate Communications
AIXTRON SE  Dornkaulstr. 2  52134 Herzogenrath, Germany
IR Team Europe
Phone: +49 (2407) 9030-444  Email: invest@aixtron.com
IR Team USA – Andrea Su
Phone: +1 (408) 747-7140 ext. 1292  Email: invest@aixtron.com
Thank you very much for your attention.
AIXTRON SE
Dornkaulstr. 2
52134 Herzogenrath
Germany
Phone +49 (2407) 9030-0
Fax
+49 (2407) 9030-40
E-Mail invest@aixtron.com