Strong momentum in optoelectronics continues

Strong momentum in optoelectronics continues

Order intake in H1 up 54%  yoy / Q2 results in line with guidance / Strong free cash-flow generation / Volume ramp fully on track / Raised full‑year 2026 guidance confirmed

Herzogenrath, Germany, July 30, 2026 – AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6) benefitted from a strong order intake of EUR 214.5 million (+81% yoy) in the second quarter 2026. This underlines the continued strong market momentum, driven by very strong demand for optoelectronic systems. Major laser system shipments are expected to begin in Q3/2026 and continue well beyond the current fiscal year. The volume ramp at AIXTRON and its suppliers is well on track. Hence, the company confirms the raised guidance released on April 14, 2026.

In the power electronics as well as the Micro LED/LED end markets, demand remained soft. Yet, utilization rates at our power electronics customers are gradually increasing. H1/2026 revenues of  EUR 174.5 million were down -30% yoy but in line with expectations (H1/2025: EUR 249.9 million). Q2/2026 revenues of EUR 115.1 million were in line with the guidance of EUR 110 million  in a range of ± EUR 10 million.

Strong cash generation and enhanced financial flexibility

Cash flow from operating activities reached EUR 172.7 million in the first six months of 2026, while free cash flow amounted to EUR 162.1 million. The strong cash generation was primarily driven by higher customer advance payments, which support the upcoming production ramp. In April, the company successfully placed its inaugural EUR 450 million convertible bond, further enhancing long-term financial flexibility. The proceeds of the bond are for general corporate purposes. The bonds do not bear periodic interest and, unless converted before then, will be redeemed in April 2031.

Order intake and order backlog

Total order intake in the first six months of 2026 was EUR 386.0 million, 54% above the previous year's level (H1/2025: EUR 250.7 million). Optoelectronics accounted for about 75% of equipment order intake in Q2/2026 and is currently AIXTRON's main demand driver. The company enjoys a strong project pipeline that extends well beyond 2026. As of June 30, 2026, equipment order backlog stood at EUR 456.9 million, up from EUR 284.6 million a year earlier and from EUR 257.8 million at the end of 2025.

Operational measures and output growth

During the first six months of 2026, AIXTRON implemented several operational measures: in light of a very soft business outlook at the beginning of the year, in Q1 a personnel reduction was implemented. This resulted in one‑off costs in the mid-single‑digit EUR million range. Late in Q1, strong momentum in optoelectronics began to materialize. To serve all customers with shipments at their requested delivery dates, the company is now ramping up production capacity at its own premises and in close collaboration with its suppliers. The operational ramp to realize a growing shipment volume in Q3 and realize further growth in Q4 is fully on track: the output will increase with every quarter of the year. In addition, AIXTRON announced the new production site in Penang, Malaysia. Groundworks for the new building have already started.

“The first half of 2026 marked an important turning point for AIXTRON. Strong order momentum in optoelectronics provides high visibility for the upcoming production ramp, while the convertible bond and our planned production site in Malaysia enhance our financial and operational flexibility. And thus we have positioned the company well to capture the full wave of accelerating optoelectronics demand. At some point in time, power electronics will also restart and add to revenue growth,” says Dr. Felix Grawert, CEO of AIXTRON SE.

Revenue development

Revenues in H1/2026 amounted to  EUR 174.5 million down -30% yoy (H1/2025: EUR 249.9 million) but in line with expectations. In Q2/2026 revenues of EUR 115.1 million were within the guidance of  EUR 110 million in a range of ± EUR 10 million (Q2/2025: EUR 137.4 million).

Gross profit and gross margin

AIXTRON recorded gross profit of EUR 57.5 million in the first six months of 2026 (H1/2025: EUR 89.9 million), corresponding to a gross margin of 33% (H1/2025: 36%). This includes one-off expenses in the mid-single-digit EUR million range related to the implemented personnel reduction in the operations area. In Q2/2026, gross profit reached EUR 46.8 million, which was down -16% from the prior-year quarter (Q2/2025: EUR 55.7 million) mainly due to lower revenue volume.

Operating expenses and EBIT

Operating expenses increased by 3% in the first six months of 2026 to EUR 65.2 million (H1/2025: EUR 63.0 million). Research and development expenses, which accounted for the largest share, increased by 31% to EUR 47.0 million in the first six months of 2026 (H1/2025: EUR 36.0 million). In Q2/2026, operating expenses reached EUR 32.2 million, which is flat versus the prior-year quarter (Q2/2025: EUR 32.2 million).

The operating result (EBIT) in the first six months of 2026 was EUR -7.6 million, corresponding to an EBIT margin of -4% (H1/2025: EUR 26.9 million, 11%). Compared with the previous year, the decline in EBIT was mainly due to lower revenue volume. In Q2/2026, AIXTRON achieved an EBIT of EUR 14.7 million (Q2/2025: EUR 23.6 million).

Net result for the first six months of 2026 came in at EUR -2.8 million (H1/2025: EUR 24.3 million) and EUR 19.1 million in the second quarter 2026 (Q2/2025: EUR 19.2 million). The result in the second quarter 2026 was positively impacted by deferred tax income resulting from the recognition of deferred tax assets on tax loss carryforwards.

Strong cash flow generation

Cash flow from operating activities amounted to EUR 172.7 million in the first six months of 2026 (H1/2025: EUR 85.1 million), of which EUR 119.0 million was generated in the second quarter 2026 (Q2/2025: EUR 50.0 million). The strong cash flow performance was primarily driven by higher customer advance payments. In addition to the strong order intake and order backlog, the composition of current orders and individually agreed payment terms also had a slightly positive impact on the level of advance payments. These advance payments contribute to financing the upcoming production ramp.

Free cash flow benefited from the improved operating cash flow and amounted to EUR 162.1 million in the first six months of 2026. This corresponds to an improvement of EUR 91.0 million compared with the previous year (H1/2025: EUR 71.1 million). In the second quarter 2026 free cash flow came in at EUR 113.6 million, an improvement by EUR 72.3 million compared with the previous year (Q2/2025: EUR 41.3 million).

As of June 30, 2026, following the dividend payment of EUR 16.9 million, AIXTRON reported cash and cash equivalents, including other current financial assets, of EUR 816.2 million (December 31, 2025: EUR 224.6 million). The strong increase is also due to the successful placement of the convertible bond. Less the liability component of the convertible bond of EUR 349.2 million, this results in net financial assets of EUR 467.0 million. The equity ratio was 61% as of June 30, 2026, compared with 88% at year-end 2025, primarily reflecting the increase in total assets following the issuance of the convertible bond.

“Free cash flow of EUR 162.1 million in the first half of the year and available liquidity of EUR 816.2 million provide us with substantial financial flexibility. We are well positioned to execute the upcoming production ramp and develop our new site in Malaysia while continuing to invest in our technology and operational capabilities,” says Dr. Christian Danninger, CFO of AIXTRON SE.

Raised 2026 full-year guidance confirmed

AIXTRON confirms its raised full-year guidance for fiscal year 2026, published on April 14, 2026. The outlook is supported by a healthy optoelectronics pipeline and the expected start of major system shipments during the second half of 2026.

The Executive Board expects revenues of EUR 560 million in a range of ± EUR 30 million, a gross margin of around 42% and an EBIT margin of 17% to 20% for fiscal year 2026.

The guidance for gross margin and EBIT margin includes one-off expenses in the mid-single-digit EUR million range related to the implemented personnel reduction in the operations area.

For the third quarter of 2026, the Executive Board expects revenues of EUR 180 million in a range of ± EUR 20 million.

Key figures at a glance

* not meaningful

Financial information

The presentation on the results for the first six months of 2026 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 H1/2026 at:

www.aixtron.com/en/investors/publications.

Investor conference call

In conjunction with the release of the H1/2026 results, AIXTRON will host a conference call (in English) for analysts and investors on Thursday, July 30, 2026, at 15:00 CEST (06:00 a.m. PDT, 09:00 a.m. EDT).

Please register for the event online at "Analyst Conference Call – Q2/2026". You will then receive an email with your personal access details.

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

www.aixtron.com/en/investors/events/conference-calls.

Contact

Media & Investors:

Christian Ludwig

Vice President Investor Relations & Corporate Communications

fon +49 (2407) 9030-444

e-mail c.ludwig@aixtron.com

About AIXTRON

AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6) 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, Europe, and the United States. Its 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. These components are used in a variety 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 many other leading-edge applications.

Our registered trademarks: AIXACT®, AIX-Multi-Ject®, AIXTRON®, Close Coupled Showerhead®, EXP®, EPISON®, Gas Foil Rotation®, HXP®, HYPERION®, Multi-Ject®, 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 semiconductor 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 as of 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 also available in a German language translation version. In case of discrepancies, the English language document shall prevail and shall be the valid version.