27.07.2023 AIXTRON SE  DE000A0WMPJ6

EQS-News: AIXTRON raises 2023 growth guidance


EQS-News: AIXTRON SE / Key word(s): Half Year Results/Quarter Results
AIXTRON raises 2023 growth guidance

27.07.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

AIXTRON raises 2023 growth guidance

Highest order intake since 2011 / Efficient power electronics based on gallium nitride (GaN) and silicon carbide (SiC) further drives successful momentum / Revenues and profit significantly increased

Herzogenrath, Germany, July 27, 2023 – AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6) has, in the second quarter of 2023, continued its strong growth path and has further expanded its order intake: The leading supplier of deposition equipment to the semiconductor industry even achieved the  highest quarterly order intake in the company's history since 2011. This momentum was driven by the continued high demand from the addressed end markets and in particular for efficient power electronics based on gallium nitride (GaN) and silicon carbide (SiC). In line with these ongoing dynamics, the Executive Board has raised the growth guidance for the fiscal year 2023.

Strong order intake
In the first half of 2023, the company's order intake increased by 12% year-on-year to EUR 317.7 million (H1/2022: EUR 282.8 million).  In the second quarter, AIXTRON's order intake was EUR 177.8 million, 17% above the order intake of the previous year's period (Q2/2022: EUR 152.6 million). The order backlog on June 30, 2023, increased significantly, reaching EUR 412.5 million (H1/2022: EUR 314.4 million)

Equipment for efficient SiC and GaN power electronics accounted by far for the largest share of the order intake. The reason for the continued strong growth: AIXTRON is currently supporting several major customers in setting up production facilities and enabling these important semiconductor companies to manufacture SiC and GaN devices in high volumes. AIXTRON's new G10 family of products sets the grounds for this – the G10-SiC, the G10-AsP and the G10-GaN, which will follow later this year. 

SiC and GaN drive double-digit growth in revenues
The continuously growing demand for efficient power electronics resulted in a significant revenue increase both in the second quarter as well as the first half of the year: AIXTRON's revenues in the first half of the year went up by 31% year-on-year to EUR 250.7 million  (H1/2022: EUR 191.1 million). In the second quarter, revenues reached EUR 173.5 million, up 69% versus the same period last year (Q2/2022: EUR 102.5 million). This result was also positively impacted by the fact that a large part of the export licenses outstanding in the previous quarter have now been granted, and the corresponding equipment has been delivered.

Strong earnings performance
In line with the strong revenues, the gross profit in Q2/2023 was EUR 73.5 million, which equals a growth of 94%, almost doubling the results achieved in the same period of the previous year (Q2/2022: EUR 37.8 million). The gross margin reached 42% (Q2/2022: 37%). In the first half year 2023, AIXTRON achieved a gross profit of EUR 104.6 million and a gross margin of also 42% (H1/2022:  EUR 73.7 million; 39%).

Raise of full-year growth guidance
Due to the unabated strong demand, the Executive Board continues to expect significant growth with increasing margins and orders for the remainder of the financial year. The guidance for FY/2023 is therefore raised as follows: Expected order intake is now to be between EUR 620.0 million and EUR 700.0 million (previously: between EUR 600.0 million and EUR 680.0 million); revenues are now expected to range between EUR 600.0 million and EUR 660.0 million (previously: between EUR 580.0 million and EUR 640.0 million); expected gross margin as before about 45%; expected EBIT margin as before around 25% to 27%.

Strongly investing in R&D
In the first half of 2023, operating expenses amounted to EUR 56.5 million, 34% higher than in the same period of the previous year (H1/2022: EUR 42.3 million). In Q2/2023, operating expenses reached EUR 28.9 million, an increase of 40% compared to Q2/2022 (EUR 20.6 million). This was mainly due to increased expenses in research and development (R&D). These investments into existing as well as the development of new system generations will lay the foundation to secure and further expand AIXTRON's strong market position.

AIXTRON concluded the second quarter of 2023 with an operating result (EBIT) of EUR 44.6 million and a strong EBIT margin of 26%, an increase of 159% and 9 percentage points (Q2/2022: EUR 17.2 million; 17%). In the first half of the year, the operating result (EBIT) reached EUR 48.1 million, with an EBIT margin of 19% (H1/2022: EUR 31.4 million; 16%). The profit for the period in the first half of the year increased significantly by 41% to EUR 43.9 million (H1/2022: EUR 31.1 million). Of this, EUR 40.4 million was achieved in the current year's second quarter, an increase of 134% compared to the same period in 2022 (Q2/2022: EUR 17.3 million).

Financial position
In the first half of 2023, AIXTRON's free cash flow was EUR -80.1 million (H1/2022: EUR 27.5 million; Q2/2023: EUR -82.0 million; Q1/2023: EUR 1.9 million). This development is primarily driven by outflows to increase inventories in preparation of the planned revenue growth in the second half of 2023.

As of June 30, 2023, AIXTRON reported cash and cash equivalents including other current financial assets of EUR 210.4 million (Dec. 31, 2022: EUR 325.2 million). This includes a dividend payment from May 2023 of EUR 34.8 million. The equity ratio as of June 30, 2023, was 75% (Dec. 31, 2022: 73%).

Reflecting the strongly growing core business, the number of employees (full-time equivalent employees as of the reporting date) in the group continued to grow. As of June 30, 2023, 1,014 employees worked for AIXTRON, an increase of 31% versus end of June 2022 (June 30, 2022: 772).

"The main driver of our consistently strong growth comes from efficient power electronics based on silicon carbide (SiC) and gallium nitride (GaN). And we expect this momentum to continue in the years to come. A very strong indication of this can be found in e-mobility where SiC is the preferred material system. Moreover, we already know that our systems for SiC will by far be the top-selling products in our portfolio in 2023," says Dr. Felix Grawert, CEO and President of AIXTRON SE.

"Led by the global megatrends of electrification, digitalization, and sustainability, we expect the strong demand for Wide-Band-Gap materials such as SiC and GaN to last and continue. With our R&D investments and strengthening our organization, we are laying the foundation to benefit from this in the long run. And it will help us not only to maintain but even expand our position as a technology leader. With all of this, we are ideally prepared for further growth," says Dr. Christian Danninger, CFO of AIXTRON SE.

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Key Financials           +/-           +/-
in EUR million   H1/2023   H1/2022   %   Q2/2023   Q2/2022   %
Order intake   317.7   282.8    12    177.8   152.6    17
Order backlog
(Equipment only)
  412.5   314.4    31    412.5   314.4    31
Revenue   250.7   191.1    31    173.5   102.5    69
Gross profit   104.6   73.7    42    73.5   37.8    94
%    42%    39%   3pp    42%    37%   5pp
EBIT   48.1   31.4    53    44.6   17.2    159
%    19%    16%   3pp    26%    17%   9pp
Profit for the period   43.9   31.1    41    40.4   17.3    134
%    18%    16%   2pp    23%    17%   6pp
Free cash flow   -80.1   27.5   n.m.*   -82.0   5.1   n.m.*
Earnings per share (EUR)   0.39   0.28    39    0.36   0.16    125

* not meaningful due to too high period fluctuations

Financial information
The presentation on the results for the first half and the second quarter 2023 is available at: www.aixtron.com/en/investors/publications/ir-presentations

The complete financial tables of the Group (income statement, other comprehensive income, balance sheet, cash flow statement and statement of changes in equity) related to this press release are available as part of the Half-Year Group Financial Report 2023 at:

Investor conference call
In conjunction with the release of the H1/2023 results, AIXTRON will host a conference call (in English) for analysts and investors on Thursday, July 27, 2023, at 15:00 CEST (06:00 a.m. PDT, 09:00 a.m. EDT). You can dial into the conference from 14:45 CEST (05:45 a.m. PDT, 08:45 a.m. EDT) using one of the following telephone numbers:  +49 30 232 53 14 90 or +1 516 269 89 83.

An audio recording or transcript can be found after the conference at:



Guido Pickert
Vice President Investor Relations & Corporate Communications
fon +49 (2407) 9030-444
e-mail [email protected]

Ragah Dorenkamp
Director Corporate Communications
fon +49 (2407) 9030-1830
e-mail [email protected]



AIXTRON SE is a leading provider of deposition equipment to the semiconductor industry. The Company was founded in 1983 and is headquartered in Herzogenrath (near Aachen), Germany, with subsidiaries and sales offices in Asia, United States and in Europe. AIXTRON´s technology solutions are used by a diverse range of customers worldwide to build advanced components for electronic and optoelectronic applications based on compound semiconductor materials. Such components are used in a broad range of innovative applications, technologies, and industries. These include Laser and LED applications, display technologies, data transmission, SiC and GaN power management and conversion, communication, signaling and lighting as well as a range of other leading-edge applications.

Our registered trademarks: AIXACT®, AIXTRON®, Close Coupled Showerhead®, EXP®, EPISON®, Gas Foil Rotation®, Optacap®, OVPD®, Planetary Reactor®, PVPD®, STexS®, TriJet®

For further information on AIXTRON (FSE: AIXA, ISIN DE000A0WMPJ6) please visit our website at: www.aixtron.com


Forward-Looking Statements

This document may contain forward-looking statements regarding the business, results of operations, financial condition and earnings outlook of AIXTRON. These statements may be identified by words such as “may”, “will”, “expect”, “anticipate”, “contemplate”, “intend”, “plan”, “believe”, “continue” and “estimate” and variations of such words or similar expressions. These forward-looking statements are based on our current assessments, expectations and assumptions, of which many are beyond control of AIXTRON, and are subject to risks and uncertainties. You should not place undue reliance on these forward-looking statements. Should these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of AIXTRON may materially vary from those described explicitly or implicitly in the relevant forward-looking statement. 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 of final acceptance of products by customers, the condition of financial markets and access to financing for AIXTRON, general conditions in the market for deposition plants and macroeconomic conditions, cancellations, rescheduling or delays in product shipments, production capacity constraints, extended sales and qualification cycles, difficulties in the production process, the general development in 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 any reports or other announcements , in particular in the chapter Risks in the Annual Report, filed by AIXTRON. Any forward-looking statements contained in this document are based on current expectations and projections of the executive board based on information available the 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.

This document is an English language translation of a document in German language. In case of discrepancies, the German language document shall prevail and shall be the valid version.

27.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Dornkaulstraße 2
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Phone: +49 (2407) 9030-0
Fax: +49 (2407) 9030-445
E-mail: [email protected]
Internet: www.aixtron.com
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Nasdaq OTC
EQS News ID: 1689287

End of News EQS News Service

1689287  27.07.2023 CET/CEST


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023
Umsatzerlöse1 230,38 268,81 259,63 269,25 428,95 463,17 629,88
EBITDA1,2 22,65 51,41 49,14 44,39 108,81 113,56 168,38
EBITDA-Marge3 9,83 19,13 18,93 16,49 25,37 24,52
EBIT1,4 4,93 41,47 39,00 34,84 98,98 104,70 156,77
EBIT-Marge5 2,14 15,43 15,02 12,94 23,08 22,61 24,89
Jahresüberschuss1 6,53 45,86 32,48 34,47 94,84 100,47 145,19
Netto-Marge6 2,83 17,06 12,51 12,80 22,11 21,69 23,05
Cashflow1,7 70,09 12,95 42,81 -39,16 -13,49 37,14 -47,29
Ergebnis je Aktie8 0,06 0,41 0,29 0,31 0,85 0,89 1,29
Dividende8 0,00 0,00 0,00 0,11 0,30 0,31 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

WKN Kurs in € Einschätzung Börsenwert in Mio. €
A0WMPJ 21,890 Halten 2.483,04
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
14,89 27,76 0,52 58,22
3,39 - 3,94 13,67
Dividende '22 in € Dividende '23 in € Div.-Rendite '23
in %
0,31 0,40 1,83 15.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
25.04.2024 25.07.2024 31.10.2024 29.02.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
2,59% -21,63% -43,38% -28,81%
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Spezialmaschinenbau , A0WMPJ , AIXA , XETR:AIXA