aixtron、veeco大阳日酸德国aixtron101028_9m_2010_presentation_final

1、Nine Months 2010 ResultsOctober 28, 2010Paul HylandPresident & Chief Executive OfficerWolfgang BremeExecutive Vice President & Chief Financial OfficerForward-Looking StatementsThis document may contain forward-looking statements regarding the business, results of operations, financial condition and

2、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” an

3、d 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

4、 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 offinal acceptance of products by customers, the condition of financialmarkets

5、 and access tofinancingforAIXTRON,generalconditionsinthemarketfordepositionplantsandmacroeconomicconditions,cancellations,reschedulingordelaysinproductshipments,production capacity constraints, extended sales and qualification cycles, difficulties in the production process, the general development i

6、n 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 a

7、ny 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

8、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.27.10.2010P 2Nine Months 2010 ResultsFinancial HighlightsYear on Year Comparison (9M/2010 vs. 9M/2009

9、)9M/2010 Revenues up 202% to 559.1m (9M/2009: 184.9m) 9M/2010 Gross Margin up 10pp at 53% (9M/2009: 43%)9M/2010 EBIT up 554% to 189.6m with 34% margin (9M/2009: 29.0m with 16% margin)Basic EPS increased 470% to 1.31 in 9M/2010 (9M/2009: 0.23) Equipment Order Intake up 163% to 544.3m (9M/2009: 206.7m

10、) Order Backlog up 83% at 278.7m (30/09/2009: 152.4m)Free Cash Flow* 242% higher at 156.4m (9M/2009: 45.7m)Cash & Cash Equivalents plus Cash Deposits 300% higher at444.6m (including ca.160m capital raise) (30/09/2009: 111.1m)*) Operating CF + Investing CF + Changes in Cash Deposits27.10.2010P 3Nine

11、Months 2010 ResultsFinancial HighlightsSequential Quarter Comparison (Q3/2010 vs. Q2/2010)Quarterly Revenues up 11% to 212.7m (Q2/2010: 191.8m) Q3/2010 Gross Margin down 3pp at 52% (Q2/2010: 55%)EBIT up 36% to 82.6m with 39% margin (Q2/2010: 60.6m; 32%) Basic EPS increased 36% to 0.57 in Q3/2010 (Q2

12、/2010: 0.42) Equipment Order Intake up 14% to 200.4m (Q2/2010: 175.4m) Order Backlog up 11% at 278.7m (30/06/10: 250.0m)Free Cash Flow* up 570% to 77.0m (Q2/2010: 11.5m)Cash & Cash Equivalents plus Cash Deposits up 20% at 444.6m (30/06/10: 371.2m)*) Operating CF + Investing CF + Changes in Cash Depo

13、sits27.10.2010P 4Nine Months 2010 ResultsOperational Flexibility and LeverageContinued progress in profitability and margins Increasingly cost-effective organizationSolid financial position for continuing operationsFlexible Cost StructureImproving Profit MarginsIncreasing Returns14040%130.928%26%24%

14、22%20%18%16%60%Net Income(EUR m)ROE%*35%12050%29%30%10040%25%8020%30%6044.815%20%4010%14%23.011%17.310%205.95%12%10%11%9%3%0%00%2006 2007 2008 2009 9M/102006 2007 2008 2009 9M/102006200720082009*9M/10* ROE calculation: last twelve months net income divided by period end shareholders equity* Includin

15、g gross proceeds of EUR 159.4m from the October 2009 capital increase27.10.2010P 5Nine Months 2010 Results53%44%37% 40% 41%34%21%10% 12%3%Gross Margin EBIT Margin24%40.6m20%43.2m17%45.8m15%46.8m11%SG&A %61.7mConsolidated Income Statement*) Rounded figures may not add up27.10.2010P 6Nine Months 2010

16、Results( million)9M/10 9M/09+/-Q3/10 Q3/09+/-Revenues Cost of sales Gross profitGross Margin559.1184.9202%264.6105.7150%294.579.2272%53%43% +10 pp212.782.0159%102.147.3116%110.634.7219%52%42%+10 ppSelling expensesGeneral & admin expenses R&DNet other op. (income)/expensesEBITEBIT Margin39.916.3145%2

17、1.816.135%33.524.935%9.7(7.1)-237%189.629.0554%34%16% +18 pp14.86.8118%7.76.420%11.88.048%(6.3)(3.2)97%82.616.7395%39%20% +19 ppResult before taxPre-Tax Margin190.329.6543%34%16% +18 pp82.816.9390%39%21%+18 ppNet resultNet Return on Sales130.920.4542%23%11% +12 pp56.811.6390%27%14%+13 ppConsolidated

18、 Statement of Financial Position*) Rounded figures; may not add up27.10.2010P 7Nine Months 2010 Results( million)30/09/1031/12/0930/09/09Property, plant & equipment GoodwillOther intangible assets Others49.637.832.860.858.357.17.87.87.819.814.814.2Non-current assets138.0118.7111.9Inventories, WIP &

19、Finished Goods Trade receivablesOthersCash & Cash Equivalents incl. CD153.289.678.464.049.344.417.414.311.3444.6301.2111.1Current Assets679.2454.4245.2Shareholders equity535.3413.5230.5Non-current liabilities2.02.22.4Trade payablesAdvanced payments from customers Others43.321.429.1166.487.960.370.24

20、8.134.8Current liabilities279.9157.4124.2Balance Sheet total817.2573.1357.1Consolidated Statement of Cash Flows*) Rounded figures; may not add up*) Operating CF + Investing CF + Changes in Cash Deposits27.10.2010P 8Nine Months 2010 Results( million)9M/2010 9M/2009 Q3/2010 Q3/2009Cash Flow from opera

21、ting activities175.444.580.730.0Cash Flow from investing activities-112.6-31.8-57.2-28.7Cash Flow from financing activities-12.8-5.60.00.6Exchange rate changes1.40.5-2.0-1.2Net change in Cash & Cash Equivalents51.47.621.40.7Cash & Cash Equivalents (beginning of period)Cash & Cash Equivalents (end of

22、 period)211.267.5262.675.1241.274.4262.675.1Change in Cash deposits93.633.053.626.0Free Cash Flow*156.445.777.027.3Revenue Analysis9M/2010:by technology9M/2010:by end application(equipment only)1%4%2%9M/2010:by region4%3%6%93%94%93%LEDTelecom/Datacom Consumer/Optoelectronic SolarDisplay & OthersSili

23、conEquipmentSparesAsiaEurope USA27.10.2010P 9Nine Months 2010 Results213.8 $1.40/24 - Month Business Development( million) $1.50/Equipment (only)57.9117.6163.3168.5200.4175.4Order Intake296.7 $1.40/ $1.50/Equipment (only)Order Backlog278.7250.0229.9Total Revenues(incl. equipment, service, spare part

24、s)Q4/2008Q1/2009Q2/2009Q3/2009Q4/2009Q1/2010Q2/2010Q3/201027.10.2010P 10*) revalued at 1/1/2010 to 190.9m at $1.50/*) weighted averageNine Months 2010 Results46.256.782.082.3117.9 $1.32/*154.5191.8212.7100.7105.0109.4152.4203.*840.631.22010 Revised Guidance Model2010 revenue guidance: ca. 750m / $1b

25、n+2010 EBIT guidance:ca. 35% EBIT margin( million)Shippable equipmentorders out of 279m total backlog as of 30/09/109M/2010 actual total revenue180Assumed Q4 spares& non-equipment revenues1155927.10.2010P 11Nine Months 2010 ResultsKey TakeawaysTangible Momentum in the LED Lighting Industry Supported by positive volume/performance effect of backlighting Encouraged by government and regional initiatives and subsidies Increased development and market introduction of LED Lighting applications Increased new generation system order volumeFocus on Profitability, Leverage and Sustainabilit