Aixtron Se · XETR:AIXA
Aixtron — FY2009 Earnings Presentation
17 slides from Aixtron's earnings presentation, Mar 10, 2010
Slide 1: Full Year 2009 Results
Full Year 2009 Results March 10, 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
Financial Highlights Year-on-Year Comparison (2009 vs. 2008) Total revenues up 10% to €302.9m (2008: €274.4m) Gross margin improvement to 44% for the year (2008: 41%) EBIT up to €62.7m or 21% margin (2008: €32.5m / 12%) Basic EPS up 88% to €0.49 (2008: €0.26) (EPS is based on a weighted average numb
Slide 4: Operational Flexibility
Operational Flexibility Increasingly cost-effective organization Higher profit margins and return on equity Solid financial position for continuing operations Flexible Cost Structure Improving Profit Margins Increasing Net Income 28% 50% 50 25% 44% Net Income (EUR m) 44.8 26% 24% 45% 40% 41% 45 ROE%
Slide 5: Consolidated Income Statement
Consolidated Income Statement (€ million) 2009 2008 +/- Q4/09 Q4/08 +/- Revenues 302,9 274,4 10% 117,9 82,3 43% Cost of sales 168,1 161,5 4% 62,4 46,7 34% Gross profit 134,7 112,9 19% 55,5 35,6 56% Gross Margin 44% 41% +3 pp 47% 43% +4 pp Selling expenses 25,5 27,8 -8% 9,1 7,4 23% General & admin ex
Slide 6: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (€ million) 31/12/09 31/12/08 Property, plant & equipment 37.8 39.3 Goodwill 58.3 58.7 Other intangible assets 7.8 10.3 Others 14.8 9.1 Non-current assets 118.7 117.4 Inventories, WIP & Finished Goods 89.6 77.1 Trade receivables 49.3 38.8 Others 14.3 11.0
Slide 7: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows (€ million) 2009 2008 Cash Flow from operating activities 78.9 15.7 Cash Flow from investing activities -90.1 -11.3 Cash Flow from financing activities 154.9 -8.9 (incl. exchange rate changes) Net change in Cash & Cash Equivalents 143.7 -4.5 Cash & Cash Equivalen
Slide 8: 24-Month Business Development
24 - Month Business Development (€ million) Equipment (only) Order Intake 85.5 72.5 52.2 40.6 31.2 57.8 117.6 163.3 Equipment (only) Order Backlog 157.3 165.1 158.1 105.0 100.7 109.4 152.4 203.8 * Total Revenues (incl. equipment, service, spare parts) 62.6 65.6 63.9 82.3 46.2 56.7 82.0 117.9 Q1/2008
Slide 9: Revenue Analysis
Revenue Analysis 2009: 2009: 2009: by technology by end application by region (equipment only) 9% 7% 3% 4% 3% 4% 14% 3% 2% 81% 82% 88% LED Compound Consumer/Optoelectronic Asia Silicon Telecom/Datacom Europe Spares Solar USA Display & Others Silicon 18.03.2010 P9
Slide 10: 2010 Guidance Model
2010 Guidance Model 2010 revenue guidance: EUR 600m – EUR 650m 2010 EBIT guidance: >25% EBIT margin (€ million) €203.8 backlog at 31/12/09 ‘shippable’ equipment orders revalued at 1.50 US$/€ required by Q3/2010 as per 1/1/10 191 Assumed 2010 spares & 381- 28 non-equipment revenues 431 18.03.2010 P 1
Slide 11: Key Takeaways
Key Takeaways Rapid & Sustainable Market Development: Accelerating implementation of LED backlighting technology Increased governmental and consumer ecological awareness Increasing momentum for lighting applications Shorter product life cycles & increased competition Rising interest for more complex
Slide 12: Financial Calendar & Contact Data
Financial Calendar & Contact Data April 29, 2010 Q1/2010 Results, Conference Call 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
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Slide 14: Appendix
Appendix Additional Key Financials Market Prospects 18.03.2010 P 14
Slide 15: Key Financials
Key Financials Quarter-on-quarter sequential comparison (Q4/2009 vs. Q3/2009) (€ million, unaudited) Q4/2009 Q3/2009 +/- Equipment Order Intake 163.3 117.6 39% Equipment Order Backlog (end of period) 203.8 152.4 34% Revenues 117.9 82.0 44% Gross Profit 55.5 34.7 60% Gross Margin 47% 42% +5 pp EBIT 3
Slide 16: Market Prospects
Market Prospects Short -Term Continuing capacity expansions for LED backlighting LEDs for further increasing automotive applications Increasing LEDs for exterior, public street & professional lighting Mid-Term Increased LEDs for consumer & residential general lighting Silicon carbide (SiC) hybrid au
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