AI-driven demand fuels strong order momentum

AI-driven demand fuels strong order momentum

Opto- and power electronics drive order intake / Strong Q3 profitability supported by favorable product and regional mix / Production ramp on track / FY 2026 guidance confirmed

Herzogenrath, Germany, October 29, 2026 – AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6) reported a strong increase in orders, driven by equipment demand for laser applications in AI data-center communications. Q3/2026 order intake rose by 122% year-on-year to EUR 274.9 million (Q3/2025: EUR 124.0 million), with optoelectronics accounting for approx. 68% and power electronics for 24% of equipment orders. Revenues reached EUR 183.6 million, within the guided range of EUR 180 million ± EUR 20 million. For the first nine months of 2026, revenues amounted to EUR 358.1 million (9M/2025: EUR 369.5 million).

Production continued to ramp up during the year. Equipment order backlog reached EUR 549.4 million, providing revenue visibility well into 2027. AIXTRON confirms its FY 2026 guidance.

Market & Business Development

Demand for InP-based optical components continued to grow rapidly in Q3/2026 and represents the majority of AIXTRON’s order backlog. The expansion of AI data-center networks remains the key structural driver for high-speed optical interconnects.

Industry investment spans both 800G and 1.6T optical transceiver market: While 800G remains the established volume platform, the transition to 1.6T is expected to progress gradually as customer qualifications and supply chains mature.

Momentum in GaN and SiC power electronics has improved in Q3. First orders for capacity expansions and a growing pipeline indicate the beginning of a recovery in power electronics: emerging low-voltage GaN applications for AI power delivery as well as industrial / AI high-voltage SiC applications are main drivers.

Production ramp and Malaysia expansion progressing according to plan

AIXTRON is increasing manufacturing output in close cooperation with its suppliers to meet expected shipment volumes in the coming quarters. Output has risen sequentially throughout 2026 and is expected to increase further by year-end. The strong order backlog supports the full-year guidance.

Construction of AIXTRON’s new manufacturing facility in Penang, Malaysia, remains on schedule. Located in a leading semiconductor ecosystem, the site will add manufacturing flexibility, strengthen supply-chain resilience, support future growth and enhance long-term cost competitiveness.

“Optoelectronics accounted for roughly 68% of our equipment order intake in the third quarter, reflecting exceptionally strong demand for AI-driven optical connectivity. With an equipment order backlog of EUR 549.4 million, we have revenue visibility well into 2027. At the same time, improving customer utilization, renewed order activity and preparations for new capacity provide increasing evidence of a recovery in GaN and SiC power electronics. Together, these trends reinforce our expectation of a strong growth year in 2027, led by optoelectronics,” says Dr. Felix Grawert, CEO of AIXTRON SE.

Order intake and order backlog

Total order intake for the first nine months of 2026 was EUR 660.9 million, 76% above the prior-year level (9M/2025: EUR 374.7 million). As of September 30, 2026, equipment order backlog stood at EUR 549.4 million, compared with EUR 286.5 million a year earlier and EUR 257.8 million at year-end 2025.

Revenue development

Revenues in 9M/2026 amounted to EUR 358.1 million, slightly down -3% yoy (9M/2025: EUR 369.5 million). Q3/2026 revenues of EUR 183.6 million were up 54% yoy (Q3/2025: EUR 119.6 million) and within the guidance of EUR 180 million in a range of ± EUR 20 million.

Gross profit and gross margin

AIXTRON recorded gross profit of EUR 144.9 million in the first nine months of 2026 (9M/2025: EUR 136.2 million), corresponding to a gross margin of 40% (9M/2025: 37%). This includes one-off expenses in the mid-single-digit EUR million range related to the personnel reduction implemented in operations. In Q3/2026, gross profit increased by 88% year-on-year to EUR 87.3 million (Q3/2025: EUR 46.4 million), reflecting the higher revenue volume and a favorable product and regional mix. The gross margin thus improved to 48% from 39% in Q3/2025.

Operating expenses and EBIT

Operating expenses increased by 2% in the first nine months of 2026 to EUR 95.8 million (9M/2025: EUR 93.9 million). Research and development expenses, which accounted for the largest share, increased by 17% to EUR 69.8 million in the first nine months of 2026 (9M/2025: EUR 59.7 million). In Q3/2026, operating expenses reached EUR 30.6 million, which is flat versus the prior-year quarter (Q3/2025: EUR 30.9 million).

Operating result (EBIT) in the first nine months of 2026 increased to EUR 49.1 million (9M/2025: EUR 42.3 million), corresponding to an EBIT margin of 14% (9M/2025: 11%). In Q3/2026, EBIT increased to EUR 56.7 million from EUR 15.4 million in Q3/2025, driven by the increase in gross profit due to the favorable product and regional mix as well as operating leverage due to the higher revenue volume. The EBIT margin improved accordingly to 31% from 13% in Q3/2025.

Net profit for the first nine months of 2026 came in at EUR 32.6 million (9M/2025: EUR 37.3 million) and EUR 35.4 million in the third quarter of 2026 (Q3/2025: EUR 13.0 million).

Strong cash flow generation

Cash flow from operating activities amounted to EUR 311.1 million in the first nine months of 2026 (9M/2025: EUR 128.5 million), of which EUR 138.4 million was generated in the third quarter of 2026 (Q3/2025: EUR 43.4 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 289.9 million in the first nine months of 2026. This corresponds to an improvement of EUR 179.6 million compared with the previous year (9M/2025: EUR 110.3 million). In the third quarter of 2026, free cash flow came in at EUR 127.8 million, an increase of EUR 88.6 million compared with the previous year (Q3/2025: EUR 39.2 million).

As of September 30, 2026, AIXTRON reported cash and cash equivalents, including other current financial assets, of EUR 944.8 million (December 31, 2025: EUR 224.6 million). The strong increase is also due to the successful placement of the convertible bond. After deducting the liability component of the convertible bond of EUR 353.9 million, net financial assets amounted to EUR 590.9 million. The equity ratio was 58% as of September 30, 2026, compared with 88% at year-end 2025, primarily reflecting the increase in total assets following the issuance of the convertible bond.

“Our strong financial position provides us with the strategic flexibility to advance AIXTRON's development. It enables us to invest in our technology roadmap, strengthen our capabilities and further expand our position in attractive growth markets, creating sustainable long-term value,” says Dr. Christian Danninger, CFO of AIXTRON SE.

2026 full-year guidance confirmed - strong outlook for 2027

The company confirms its guidance for fiscal year 2026, published on April 14, 2026. Revenues are expected to be EUR 560 million ± EUR 30 million, with a gross margin of about 42% and an EBIT margin between 17% and 20%.

Based on the current sales pipeline, AIXTRON expects to maintain or further grow the current strong level of order intake over the coming quarters, supported by demand for optoelectronics and increasingly by growing momentum in power electronics.

Key figures at a glance

Financial information

The presentation on the results for the Q3/2026 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 Quarterly Group Statement Q3/2026 at:

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

Investor conference call

In conjunction with the release of the Q3/2026 results, AIXTRON will host a conference call (in English) for analysts and investors on Thursday, October 29, 2026, at 15:00 CET (07:00 a.m. PDT, 10:00 a.m. EDT).

Please register for the event online at "Analyst Conference Call – Q3/2026". 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.