Aixtron Se · XETR:AIXA
Aixtron — Q1 2010 Earnings Presentation
14 slides from Aixtron's earnings presentation, Apr 29, 2010
Slide 1: First Quarter 2010 Results
First Quarter 2010 Results April 29, 2010 Paul Hyland President & Chief Executive Officer Wolfgang Breme Executive Vice President & Chief Financial Officer
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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 Litigation Reform Act of 1995.
Slide 3: Financial Highlights: Sequential Quarter Comparison
Financial Highlights Sequential Quarter Comparison (Q1/2010 vs. Q4/2009) Quarterly Revenues up 31% to €154.5m (Q4/2009: €117.9m) Q1/2010 Gross Margin up 3pp at 50% (Q4/2009: 47%) EBIT up 38% to €46.4m with 30% margin (Q4/2009: €33.7m; 29%) Basic EPS increased 23% to €0.32 in Q1/2010 (Q4/2009: €0.26)
Slide 4: Financial Highlights: Year on Year Comparison
Financial Highlights Year on Year Comparison (Q1/2010 vs. Q1/2009) Q1/2010 Revenues significantly up 234% to €154.5m (Q1/2009 revenue trough: €46.2m) Q1/2010 Gross Margin up 5pp at 50% (Q1/2009: 45%) Q1/2010 EBIT up 511% to €46.4m with 30% margin (Q1/2009: €7.6m with 16% margin after exceptionals) B
Slide 5: Operational Flexibility and Leverage
Operational Flexibility and Leverage Continued progress in profitability and margins Increasingly cost-effective organization Solid financial position for continuing operations Flexible Cost Structure Improving Profit Margins Increasing Returns 28% 60% 50 35% Net Income 44.8 50% 45 (EUR m) 26% 30% 2
Slide 6: Consolidated Income Statement
Consolidated Income Statement (€ million) Q1/10 Q1/09 +/- Q1/10 Q4/09 +/- Revenues 154.5 46.2 234% 154.5 117.9 31% Cost of sales 76.6 25.2 204% 76.6 62.4 23% Gross profit 77.9 21.0 271% 77.9 55.5 40% Gross Margin 50% 45% +5 pp 50% 47% +3 pp Selling expenses 11.8 4.6 157% 11.8 9.1 30% General & admin
Slide 7: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (€ million) 31/03/10 31/12/09 31/03/09 Property, plant & equipment 39.4 37.8 34.0 Goodwill 61.0 58.3 61.1 Other intangible assets 7.5 7.8 9.7 Others 21.1 14.8 10.5 Non-current assets 129.0 118.7 115.4 Inventories, WIP & Finished Goods 102.5 89.6 70.5 Trad
Slide 8: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows (€ million) Q1/2010 Q4/2009 Q1/2009 Cash Flow from operating activities 71.9 34.4 13.3 Cash Flow from investing activities -35.0 -58.3 -5.0 Cash Flow from financing activities 2.5 160.0 0.7 (incl. exchange rate changes) Net change in Cash & Cash Equivalents 39.4
Slide 9: 24-Month Business Development
24 - Month Business Development (€ million) Equipment (only) Order Intake 72.5 52.2 40.6 31.2 57.9 117.6 163.3 168.5 Equipment (only) 165.1 158.1 105.0 100.7 109.4 152.4 203.8 * 229.9 Order Backlog Total Revenues (incl. equipment, 65.6 63.9 82.3 46.2 56.7 82.0 117.9 154.5 service, spare parts) Q2/20
Slide 10: Revenue Analysis
Revenue Analysis Q1/2010: Q1/2010: Q1/2010: by technology by end application by region (equipment only) 3%3%1% 4% 1% 7% 2% 92% 93% 94% LED Compound Telecom/Datacom Asia Silicon Consumer/Optoelectronic Europe Spares Solar USA Display & Others Silicon 28.04.2010 P 10
Slide 11: Outlook: 2010 Guidance Model
2010 Guidance Model 2010 revenue guidance: €650m - €700m 2010 EBIT guidance: circa 30% EBIT margin (€ million) Outlook Total backlog as of 31/03/10 Q1/2010 actual total revenue 155 230 25 Assumed Q2-Q4 spares 240- ‘Shippable’ equipment & non-equipment revenues 290 orders required by Q3/2010 28.04.20
Slide 12: Key Takeaways
Key Takeaways Healthy Market Environment Accelerated implementation of LED backlighting technology Increasing momentum for lighting applications Rising interest for more productive complex deposition tools Flexibility, Profitability and Sustainability Solid financial situation, high liquidity, focus
Slide 13: Financial Calendar & Contact Data
Financial Calendar & Contact Data May 18, 2010 Annual General Meeting, Eurogress Aachen July 29, 2010 First Half 2010 Results, Conference in Frankfurt Oct. 28, 2010 Q3/2010 Results, Conference Call March 2011 FY2010 Results, Conference in Frankfurt For further information please contact: Investor Re
Slide 14: 28.04.2010 P
28.04.2010 P 14