Aixtron Se · XETR:AIXA
Aixtron — Investor Presentation (March 2008)
38 slides from Aixtron's investor presentation, Mar 6, 2008
Slide 1: AIXTRON Investor Presentation Winter/Spring 2008
(FSE: AIX, ISIN DE0005066203; NASDAQ: AIXG, ISIN: US0096061041) AIXTRON Investor Presentation Winter/Spring Winter/Spring 2008 2008
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: AIXTRON – Enabling Global Solutions
AIXTRON – Enabling Global Solutions AIXTRON AG, Aachen AIXTRON AG, Herzogenrath Epigress AB, Lund AIXTRON Inc., Sunnyvale AIXTRON Ltd., Cambridge • Shanghai, China • Seoul, S. Korea • Tokyo, Japan • Hsinchu, Taiwan Slide: 3
Slide 4: Gas Phase Deposition
Gas Phase Deposition Material Engineering on an Atomic Scale Slide: 4
Slide 5: AIXTRON Planetary Reactor
AIXTRON Planetary Reactor®® Injector Reactor Chamber Wafer Slide: 5
Slide 6: Value Chain Positioning
Value Chain Positioning Production Chip & Electronic End Equipment Component Device User Manufacturers Manufacturers Manufacturers Markets Consumer Communication Industrial Display Lighting Medical Automotive Slide: 6
Slide 7: One Technology – Multiple Solutions
One Technology – Multiple Solutions Gas Phase Deposition Business Nano Scale Material Engineering Compound Semiconductors Silicon Semiconductors Technology MOCVD, OVPD® AVD®, ALD, CVD • LEDs/OLEDs for displays • LEDs/OLEDs for lighting • Metal and oxide films for • Optoelectronics for CMOS transisto
Slide 8: System Types
System Types Silicon Compound Tricent® AVD® Planetary Reactor® Close Coupled Showerhead® Silicon Compound Compound Lynx CVD OVPD® Silicon Compound Nanoinstruments Hot Wall SiC CVD Black Magic Tricent® ALD Slide: 8
Slide 9: Compound Platform Systems
Compound Platform Systems Planetary Reactor® Rapid adoption by customer base AIX 2800G4, 42x2” Established industry standard Production volume increased in 2007 ~ 70% of FY/2007 Equipment Order Intake ~ 50% of FY/2007 Compound Revenues Integrated Concept (IC) System Close Coupled Showerhead® CRIUS®,
Slide 10: Silicon Semiconductor Systems
Silicon Semiconductor Systems Tricent® ALD Consumer Electronics continue to drive the Reactor NAND flash and DRAM industry 1 x 300mm Comprehensive AIXTRON-portfolio: CVD, ALD, AVD® Fab ramp-up with established CVD customers ALD/AVD®: film qualifications for new materials in transistors & capacitors
Slide 11: Equipment Revenues by Application
Equipment Revenues by Application Diversification of Equipment Revenue Base (excl. spares): 2004: €116.6m 2005: €113.4m 2006: €143.1m 2007: €186.9m 4% 3% 10% 2% 7% 27% 22% 32% 44% 81% 58% 9% 13% 61% 5% 15% 5% 2% LED Display & Others Consumer/Optoelectronic Telecom/Datacom Telecom/Datacom Silicon Sli
Slide 12: Revenues by Region
Revenues by Region (81%) (€ million) (79%) (77%) (74%) 174.1 135.2 108.1 103.0 (16%) (13%) (10%) (9%) (13%) (10%) (8%) (10%) 22.1 22.2 21.9 18.8 18.3 14.3 14.3 13.6 2004 2005 2006 2007 2004 2005 2006 2007 2004 2005 2006 2007 USA Europe Asia Asia Slide: 12
Slide 13: AIXTRON Global Presence
AIXTRON Global Presence Ltd. AB AB Cambridge, UK Lund, Sweden cshs KK Seoul, South Tokyo, Japan Korea Inc. AG Sunnyvale, USA Aachen, D Headquarters Taiwan Co., Ltd. AG Shanghai, P.R. China Representation Slide: 13
Slide 14: Global MOCVD Market Shares
Global MOCVD Market Shares 2003 2004 2005 2006 Total: $150m Total: $232m Total: $156m Total: $202m 4% 11% 4% 6% 14% 10% 13% 8% 22% 17% 21% 20% 61% 64% 63% 62% 66% AIXTRON Veeco Nippon Sanso Others based on VLSI RESEARCH Inc. 2007 Slide: 14
Slide 15: Global CVD Market Shares for WSix
Global CVD Market Shares for WSixx Elpida - PSC 3% Hynix TEL 15% AIXG/ Micron Samsung GGNS 48% AMAT 34% Qimonda ProMos 2006 Total: $109 M based on VLSI RESEARCH Inc. 2007 Slide: 15
Slide 16: Market Development 2007
Market Development 2007 Compound Semiconductors Silicon Semiconductors (including Organics) €145.2m equipment1) €41.7m equipment1) Revenues revenues (+50% yoy) revenues (-9% yoy) 68% of total2) revenues 19% of total2) revenues Equipment1) €208.6m (+52.5% yoy) €39.1m (-5% yoy) Order Intake 84% of tot
Slide 17: Operational Highlights 2007
Operational Highlights 2007 2007 total Revenues up 25% to €214.8m (2006: €171.7m) LED-industry ramp-up continues (white LEDs for small/medium BLUs) Gross Margin improvement to 40% for the year (2006: 37%) New equipment sales (48%) support higher margin, despite the US$-weakness 2007 EBIT up to €20.6
Slide 18: Key Group Financials 2007
Key Group Financials 2007 (€ million) 2007 2006 Variance Equipment Order Intake 247,7 178,0 39% Equipment Order Backlog 132,0 85,1 55% Revenues 214,8 171,7 25% Gross Profit 85,0 63,4 34% Gross Margin 40% 37% +3pp EBIT 20,6 5,7 261% EBIT Margin 10% 3% +7pp Net Result 17,3 5,9 193% EPS (€) 0,20 0,07 1
Slide 19: Operational Highlights Q4/2007
Operational Highlights Q4/2007 Higher Q4/07 Revenues of €54.1m (Q3/07: €51.7m) Reflecting prior Order Intake phasing & customer delivery demand Q4/07 EBIT €4.2m, 7.8% Return on Sales (Q3/07: €5.0m; 10%) QoQ Selling Cost & R&D funding timing effects Q4/07 Equipment Order Intake +24% QoQ at €86.9m (Q3
Slide 20: Key Group Financials Q4/2007
Key Group Financials Q4/2007 (€ million, unaudited) Q4/2007 Q3/2007 Q4/2006 Equipment Order Intake 86,9 70,0 44,5 Equipment Order Backlog (end of period) 139,8 102,8 85,1 Revenues 54,1 51,7 63,1 Gross Profit 22,6 19,9 22,0 Gross Margin 42% 39% 35% EBIT 4,2 5,0 8,1 EBIT Margin 8% 10% 13% Net Result 2
Slide 21: 24-Month Business Development
24 - Month Business Development (€ million) 86.9 70.0 Equipment (only) 49.5 52.3 44.5 40.5 50.3 31.7 Order Intake 132.0 98.3 102.8 81.2 85.1 80.3 70.0 Equipment (only) 61.8 Order Backlog 63.1 63.8 51.7 54.1 40.9 45.2 Total Revenues 32.0 35.7 (incl. equipment, service, spare parts) Q1/2006 Q2/2006 Q3
Slide 22: 2008 Guidance Model
2008 Guidance Model 2008 ‘shippable’ Equipment (revised) Order Backlog 132 ‘shippable’ 28 Assumed equipment orders 140 2008 spares required < Q3/2008 & non-equipment (€ million) Revenues (€ million) 2008 Guidance: €270 - 300m Revenues 10-12% EBIT Margin Slide: 22
Slide 23: Target Market Opportunities
Target Market Opportunities Short -Term LED backlighting for next generation LCD screens LEDs for increasing automotive applications Emerging LED external/street lighting applications Mid-Term Emerging Solid State Lighting device applications Silicon carbide (SiC) hybrid automotive & solar applicati
Slide 24: 2008 Financial Calendar & Contact Data
2008 Financial Calendar & Contact Data May 8, 2008 Q1/2008 Results, conference call May 14, 2008 Annual General Meeting at Eurogress in Aachen August 7, 2008 Q2/2008 Results conference in Frankfurt November 6, 2008 Q3/2008 Results, conference call For further information please contact: Investor Rel
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Slide 26: Group Income Statement 2007 (IFRS)
Group Income Statement 2007 (IFRS) Variance (€ million) 2007 2006 2005 2006-2007 Revenues 214,8 171,7 139,4 25% Cost of sales 129,8 108,3 104,7 20% Gross profit 85,0 63,4 34,7 34% Financials Gross Margin 40% 37% 25% +3pp SG&A 43,3 40,6 45,8 6% R&D 26,5 23,9 30,5 11% Other operating income (expense)
Slide 27: Group Income Statement Q4/2007 (IFRS)
Group Income Statement Q4/2007 (IFRS) Variance (€ million) Q4/2007 Q3/2007 Q4/2006 Q3-Q4 Revenues 54,1 51,7 63,1 5% Cost of sales 31,5 31,8 41,1 -1% Gross profit 22,6 19,9 22,0 14% Financials Gross Margin 42% 39% 35% +3pp SG&A 13,1 10,4 11,6 26% R&D 6,2 6,2 5,3 0% Other operating income (expense) 0,
Slide 28: Group Balance Sheet 2007 (IFRS)
Group Balance Sheet 2007 (IFRS) (€ million) Dec.31, 2007 Dec.31, 2006 Sep.30, 2007 Property, plant & equipment 35.1 36.4 33.5 Goodwill 59.0 65.1 61.0 Other intangible assets 12.5 15.1 12.5 Financials Others 10.9 11.4 10.5 Non-current assets 117.5 128.0 117.5 Inventories 60.0 53.1 52.9 Trade receivab
Slide 29: High Brightness LED Market
High Brightness LED Market HB LED summary forecast by application 2006-2011 2006 10.000 16% 15% 9.000 5% 8.000 Market Size (USD million) 7.000 15% 6.000 48% 1% 5.000 4.000 3.000 2011 2.000 14% 1.000 10% 40% 0 2006 2007 2008 2009 2010 2011 12% Signs / Displays Mobile Appliances Signals Automotive 1%
Slide 30: Gen 3.5 Deposition Tool for Plastic Logic
Gen 3.5 Deposition Tool for Plastic Logic Manufacture of flexible organic TFT backplanes Deposit with AIXTRON Gen 3.5 tool Slide: 30
Slide 31: Nanoinstruments Ltd. – The Technology
Nanoinstruments Ltd. – The Technology What What are are Carbon Carbon Nanotubes Nanotubes (CNT) (CNT) … … Unique Properties Application Examples Very high thermal conductivity (> 3000 WmK) Electronics Very low resistivity (10-6 Ωm) Heat Sinks Very high mechanical stability (> 1TPa) Field Emission Di
Slide 32: Advanced Technology Requirements
Advanced Technology Requirements Word Line DRAM 1000 CVD Metal Control Gate NAND Layer thickness [Å] Atomic Level Solutions 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 ALD + AVD® High-k Gate Dielectrics AVD® Integrated Flash Floating Gate Capacitors Interpoly & Tunnel Oxi
Slide 34: AIXTRON Group Worldwide Production
AIXTRON Group Worldwide Production AIXTRON AG, Aachen-Herzogenrath/Germany Slide: 34
Slide 35: AIXTRON Group Worldwide Production
AIXTRON Group Worldwide Production AIXTRON AG, Aachen-Herzogenrath/Germany Slide: 35
Slide 36: AIXTRON Group Worldwide Production
AIXTRON Group Worldwide Production AIXTRON Ltd., Cambridge/UK Slide: 36
Slide 37: AIXTRON Group Worldwide Production
AIXTRON Group Worldwide Production AIXTRON Inc., Sunnyvale/USA Slide: 37
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