Aixtron Se · XETR:AIXA
Aixtron — Investor Presentation (July 2009)
42 slides from Aixtron's investor presentation, July 2009
Slide 1: AIXTRON Investor Presentation Summer/Fall 2009
(FSE: AIXA, ISIN DE000A0WMPJ6 ; NASDAQ: AIXG, ISIN: US0096061041) AIXTRON Investor Presentation Summer/Fall Summer/Fall 2009 2009 including including H1/2009 H1/2009
Slide 2: Forward-Looking Statements
Forward-Looking Statements AIXTRON Investor Presentation This presentation may contain forward-looking statements about the business, financial condition, results of operations and earnings outlook of AIXTRON within the meaning of the “safe harbor” provisions of the United States Private Securities
Slide 3: Agenda
Agenda AIXTRON Investor Presentation Introduction Operations Industry & Markets Business Trends Financials Outlook Appendix Slide: 3
Slide 4: AIXTRON Investor Presentation
AIXTRON Investor Presentation Slide: 4 This Page has been intentionally left blank
Slide 5: AIXTRON Global Presence
AIXTRON Global Presence Ltd. AB Cambridge, UK Lund, Sweden Locations cshs KK Seoul, South Korea Tokyo, Japan Inc. AG Sunnyvale, USA Aachen, Germany Headquarters Taiwan Co., Ltd. AG Shanghai, P.R. China Representation Slide: 5
Slide 6: AIXTRON MOCVD Reactors
AIXTRON MOCVD Reactors Injector Introduction Wafers Reactor Chamber ®® Planetary Planetary Reactor Reactor Slide: 6
Slide 7: One Technology – Multiple Solutions
One Technology – Multiple Solutions Deposition Technology Technology Nano Scale Material Engineering Compound Semiconductor Silicon Semiconductor System Introduction MOCVD, OVPD®, PECVD CVD, ALD, AVD® • LEDs/OLEDs for displays • LEDs/OLEDs for lighting • Metal and oxide films for • Optoelectronics f
Slide 8: Value Chain Positioning
Value Chain Positioning Production Chip & Electronic End Equipment Component Device User Introduction Manufacturers Manufacturers Manufacturers Markets Consumer Communication Industrial Display Lighting Medical Automotive Slide: 8
Slide 9: System Technologies
System Technologies Compound Compound Compound OVPD®, PVPD Introduction Compound Hot Wall SiC CVD Compound Nanoinstruments Black Magic II - PECVD Silicon MOCVD Planetary Reactor® MOCVD Close Coupled Showerhead® Silicon Silicon Tricent® AVD® Tricent® ALD Lynx-iXP CVD Slide: 9
Slide 10: Compound Semiconductor Systems
Compound Semiconductor Systems Leading edge design to manufacturing Planetary Reactor® Flexible wafer configuration from 2”-300mm AIX 2800G4, 42x2” Configurable common platform Customized turn-key solutions Operations Proven industry standard & market leader Integrated Concept (IC) System Close Coup
Slide 11: Global MOCVD Market Shares
Global MOCVD Market Shares 2006 2007 2008 Total: $202m Total: $289m Total: $486m 7% 2% Operations 2% 10% 4% 14 % 19% 62 18% 20 % % 70% 72% AIXTRON Veeco Nippon Sanso Others Based on VLSI RESEARCH Inc. 2008, Gartner Dataquest 2009 Slide: 11
Slide 12: Silicon Semiconductor Systems
Silicon Semiconductor Systems Consumer Electronics continue to drive the ALD/AVD® System NAND flash and DRAM industry Comprehensive AIXTRON-portfolio: CVD, ALD, AVD® ALD/AVD®: film qualifications for new materials in transistors & capacitors Operations Combined ALD/AVD® technology (JDP with Asian Se
Slide 13: Business Development and Convergence
Business Development and Convergence H1/2009 Compound Semiconductors Silicon Semiconductors (including Organics) €88.7m equipment1) €4.2m equipment1) Revenues revenues (-15% yoy) revenues (-58% yoy) 86% of total2) revenues 4% of total2) revenues €88.4m (-41% yoy) €0.6m (-93% yoy) Equipment Order Int
Slide 14: Revenues by Region
Revenues by Region (€ million) 2006: €171.7m 2007: €214.8 2008: €274.4m H1/2009: €102.9m Operations 8% 10% 6% 6% 7% 21.9 17.8 6.0 14.3 13% 9% 18.5 19% 21,9 18.8 22.2 19.1 135.2 174.1 238.1 77.8 174,1 79% 81% 75% 87% USA Europe Asia Slide: 14
Slide 15: Equipment Revenues by Application
Equipment Revenues by Application Equipment Revenue Base (excl. spares): 2006: €143.1m 2007: €186.9m 2008: €247.3m H1/2009: €92.9m Operations 5% 3% 3% 6% 5%3% 3% 32% 22% 2% 4% 14% 1% 44% 83% 4% 61% 9% 73% 15% 5% 5%4% LED Solar Consumer/Optoelectronic Display & Others Telecom/Datacom Silicon Slide: 1
Slide 16: LED-Market Outlook
LED-Market Outlook LED PID2) Automotive Industry & Markets LCD BLU1) Headlights Lighting Monitor BLU Full Color LED Indoor Exterior Lighting Lighting TV BLU Single Color LED Special Interior Lighting Handsets Lighting Outdoor Notebook BLU Lighting S/M BLU Signage Others Other Function Display BL Mac
Slide 17: High Brightness LED Market Forecast
High Brightness LED Market Forecast HB LED summary forecast by application 2008 16% 16% Industry & Markets 12,000 10,000 9% Market Size (USD million) 8,000 15% 43% 6,000 1% 4,000 2013 2,000 9% 14% 0 43% 2008 2009 2010 2011 2012 2013 Signs / Displays Mobile Appliances 12% Signals Automotive Illuminat
Slide 18: Notebook BLU Market Forecast
Notebook BLU Market Forecast Positive trend (2007-2012) towards technology acceptance Research opinion ranges Industry & Markets in penetration rate in market size (TAM – Total Accessible Market) 250 100% TAM BLU in Million Units 90% 90% LED BLU Penetration 200 80% 70% 150 60% 50% 50% 100 40% 30% 50
Slide 19: LCD TV BLU Market Forecast
LCD TV BLU Market Forecast Positive trend (2008-2012) towards technology acceptance Research opinion ranges TAM 2012 LEDs LEDs BLUs Industry & Markets (Mio Units) (at 100%) / Unit in market size (TAM) Mobile 1,550* 15,500 10 in penetration rate Notebooks 200* 12,000 60 LCD TV 175** 105,000 600 200 1
Slide 20: Examples of Products with LEDs
Examples of Products with LEDs Samsung AIXTRON Phone AG, Aachen▪ Audi R8 LED Headlight ▪ LED Toshiba Portégé R500 Industry & Markets LED Street Lighting ▪ Samsung LED TV ▪ Nimbus LED Ceiling Light 12 W Slide: 20
Slide 21: Business Development
24 - Month Business Development (€ million) 86.9 85.5 70.0 72.5 Equipment (only) 52.2 57.9 Business Trends Order Intake 40.6 31.2 157.3 165.1 158.1 132.0 102.8 105.0 100.7 109.4 Equipment (only) Order Backlog 82.3 65.6 63.9 Total Revenues 54.1 62.6 46.2 56.7 (incl. equipment, 51.7 service, spare par
Slide 22: Key Financials
Key Financials Year-on-Year Comparison (H1, Q2/2009 vs. H1, Q2/2008) (€ million, unaudited) H1/09 H1/08 +/- Q2/09 Q2/08 +/- Equipment Order Intake 89.1 158.0 -44% 57.9 72.5 -20% Financials Equipment Order Backlog 109.4 165.1 -34% 109.4 165.1 -34% (end of period) Revenues 102.9 128.2 -20% 56.7 65.6 -
Slide 23: Group Balance Sheet
Group Balance Sheet (€ million, unaudited) 30/06/09 31/12/08 30/06/08 Property, plant & equipment 32.8 39.3 36.6 Goodwill 59.1 58.7 55.0 Other intangible assets 8.8 10.3 10.9 Financials Others 11.2 9.1 9.6 Non-current assets 111.9 117.4 112.1 Inventories, WIP & Finished Goods 70.4 77.1 82.0 Trade re
Slide 24: New 2009 Guidance Model
New 2009 Guidance Model 2009 revised revenue guidance range: €230m - €250m 2009 revised EBIT guidance: 12 - 13% EBIT margin Sufficient cash levels will be maintained (without any bank borrowings) (€ million) Outlook ‘shippable’ equipment orders required by Q3/2009 21-41 H1/2009 actual total revenue
Slide 25: Key Takeaways
Key Takeaways Quicker than expected recovery … New strategic LED ventures Progressive “LED TV” marketing of TV vendors “Green technology” stimulus investments … is being managed through Outlook Solid financial situation High flexibility through outsourcing, contract staff Strong competitive position
Slide 26: Market Prospects
Market Prospects Short -Term LED backlighting for next generation LCD screens LEDs for increasing automotive applications Mid-Term Government support for “green” lighting applications Outlook Emerging general/interior lighting device applications Pioneering e-paper applications Silicon carbide (SiC)
Slide 27: Financial Calendar & Contact Data
Financial Calendar & Contact Data October 29, 2009 Q3/2009 Results, Conference Call March 11, 2010 Full Year 2009 Results, Conference in Frankfurt April 29, 2010 Q1/2010 Results, Conference Call May 18, 2010 Annual General Meeting, Eurogress Aachen For further information please contact: Investor Re
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Slide 29: For 25 Years. One step ahead.
For 25 Years. One step ahead. 1983: AIXTRON emerged as a spin-off from RWTH Aachen University 1985: The first AIXTRON MOCVD system installation 1986: Automatic system control software introduced 1988: AIXTRON receives national award for “Innovation” 1989: Exclusive licence for Planetary Reactor® tec
Slide 30: New Technologies – New Applications
New Technologies – New Applications Development of Gen 3.5 Tool for Plastic Logic – Plastic Electronics Technology Slide: 30
Slide 31: New Technologies – New Opportunities
New Technologies – New Opportunities AIXTRON Nanoinstruments – Carbon Nanotubes Unique Properties Application Examples Very high thermal conductivity Electronics Technology Very low resistivity Heat Sinks Very high mechanical stability Field Emission Display Graphene sheet Carbon Nanotube structure
Slide 32: Advanced Technology Requirements
Advanced Technology Requirements Word Line DRAM 1000 CVD Metal Control Gate NAND Technology Atomic Level Solutions Layer thickness [Å] 100 Metal Electrode and AVD® High-k Dielectric eDRAM 10 Metal Electrode and ALD High-k Dielectric DRAM 1 1 10 100 Aspect ratio Slide: 32
Slide 33: Films for Logic and Memory Transistors
Films for Logic and Memory Transistors Metal / Metal Silicide on Poly Gate Stack DRAM Capacitors FeRAM Capacitors CVD ALD (Dielectric) AVD® ALD + AVD® (Electrode) Metal Gate AVD® Sidewall Spacers Technology ALD + AVD® High-k Gate Dielectrics AVD® Integrated Flash Floating Gate Capacitors Interpoly &
Slide 34: AIXTRON Share Price
AIXTRON Share Price AIXTRON (YTD until June 30) 9.00 AIXTRON (in EUR) TecDax indexed 8.00 Financials 7.00 6.00 5.00 4.00 3.00 1- 16- 31- 15- 2- 17- 1- 16- 1- 16- 31- 15- 30- Jan Jan Jan Feb Mar Mar Apr Apr May May May Jun Jun Slide: 34
Slide 35: Group Income Statement FY 2008
Group Income Statement FY 2008 (€ million) 2008 2007 +/- Revenues 274.4 214.8 28% Cost of sales 161.5 129.8 24% Financials Gross profit 112.9 85.0 33% Gross Margin 41% 40% +1 pp Selling Expenses 27.8 27.2 2% General & Administration Expenses 18.0 16.0 13% R&D 28.3 26.5 7% Net Other operating income
Slide 36: Group Income Statement H1/2009
Group Income Statement H1/2009 (€ million, unaudited) H1/09 H1/08 +/- Q2/09 Q2/08 +/- Revenues 102.9 128.2 -20% 56.7 65.6 -14% Cost of sales 58.4 77.8 -25% 33.2 39.7 -16% Financials Gross profit 44.5 50.3 -12% 23.5 25.8 -9% Gross Margin 43% 39% +4 pp 41% 39% +2 pp Selling expenses 9.5 14.6 -35% 4.9
Slide 37: Group Cash Flow Statement FY 2008
Group Cash Flow Statement FY 2008 (€ million) 2008 2007 Cash Flow from operating activities 15.9 32.9 Cash Flow from investing activities -11.4 -10.5 Financials Cash Flow from financing activities -8.9 2.9 (incl. exchange rate changes) Net change in Cash & Cash Equivalents -4.5 25.2 Cash & Cash Equi
Slide 38: Group Cash Flow Statement
Group Cash Flow Statement (€ million, unaudited) H1/2009 H1/2008 Cash Flow from operating activities 17.0 22.3 Cash Flow from investing activities -5.6 -31.1 Financials Cash Flow from financing activities -6.2 -3.8 (incl. exchange rate changes) Net change in Cash & Cash Equivalents 6.9 -14.2 Cash &
Slide 39: AIXTRON Group Worldwide Production – Aachen
AIXTRON Group Worldwide Production AIXTRON AG, Aachen, Germany Production Sites Slide: 39
Slide 40: AIXTRON Group Worldwide Production – Cambridge
AIXTRON Group Worldwide Production AIXTRON Ltd., Cambridge/UK Production Sites Slide: 40
Slide 41: AIXTRON Group Worldwide Production – Sunnyvale
AIXTRON Group Worldwide Production Production Sites AIXTRON Inc., Sunnyvale/USA Slide: 41
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