Inflection point driven by rising optoelectronics demand

Inflection point driven by rising optoelectronics demand

Full‑year 2026 guidance raised / Operating cash flow further improved / Q1 results in line with guidance / Malaysia production site and convertible bond enhance strategic flexibility

Herzogenrath, Germany, April 30, 2026 – AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6) confirms the preliminary figures released on April 14, 2026. Order intake of EUR 171.4 million in the first quarter of 2026 signals a clear improvement in market momentum, driven by very strong demand for optoelectronics systems. This development is underscored by multi‑tool orders from several customers. Major system shipments are expected to begin in Q2/2026 and continue well beyond the current fiscal year.

In the power electronics market, demand for SiC-tools remained soft, while demand for GaN-tools stayed stable at a low level. Q1/2026 revenues of EUR 59.4 million were in line with guidance of EUR 65 million in a range of ± EUR 10 million and seasonal expectations (Q1/2025: EUR 112.5 million).

Operational measures

During the first three months of 2026, AIXTRON implemented the personnel reduction announced earlier. This resulted in one‑off costs in the mid-single‑digit EUR million range and creates a more flexible operating structure.

Strategic flexibility

In Q1/2026, AIXTRON announced plans for a new production site in Malaysia to strengthen long‑term manufacturing flexibility and resilience, particularly in supporting customers in Asia. In April, the company successfully placed its first EUR 450 million convertible bond, further enhancing long-term financial flexibility. The bonds do not bear periodic interest and, unless converted before then, will be redeemed in April 2031.

"The first quarter of 2026 marked a clear improvement in market dynamics, with exceptionally strong order momentum in optoelectronics,” says Dr. Felix Grawert, CEO of AIXTRON SE. “Laser‑related demand exceeded our expectations, and the visibility provided by orders extending beyond 2026 supports the start of a new structural growth trend. As we expect this momentum to continue, we have raised our full‑year 2026 guidance. At the same time, the planned Malaysia site strengthens our foundation for profitable growth.”

Order intake and order backlog

Optoelectronics accounted for almost 70% of order intake in Q1/2026 and is currently AIXTRON's main demand driver. Total order intake in the first three months of 2026 was EUR 171.4 million, 30% above the previous year's level (Q1/2025: EUR 132.2 million). The company continues to see high multi‑tool order activity, supporting a robust pipeline well beyond 2026. As of March 31, 2026, equipment order backlog stood at EUR 359.1 million, up from EUR 307.9 million a year earlier and from EUR 257.8 million at the end of 2025.

Revenue development

Revenue in Q1/2026 amounted to EUR 59.4 million (-47% yoy) in line with seasonal expectations. This was within the guidance of EUR 65 million in a range of ± EUR 10 million (Q1/2025: EUR 112.5 million).

Gross profit and gross margin

AIXTRON recorded gross profit of EUR 10.8 million in the first three months of 2026 (Q1/2025: EUR 34.1 million), corresponding to a gross margin of 18% (Q1/2025: 30%). This includes one-off expenses in the mid single-digit EUR million range related to the announced personnel reduction in the operations area.

Operating expenses and EBIT

Operating expenses increased by 7% in the first quarter of 2026 to EUR 33.0 million (Q1/2025: EUR 30.8 million). Research and development expenses, which accounted for the largest share, increased by 40% to EUR 24.8 million in the first quarter of 2026 (Q1/2025: EUR 17.7 million).

The operating result (EBIT) in the first three months of 2026 was EUR -22.3 million, corresponding to an EBIT margin of -38% (Q1/2025: EUR 3.3 million, 3%). Compared with the previous year, the decline in EBIT was mainly due to lower volume and expenses for the one-off effects described above. Net result for the first three months of 2026 came in at EUR -21.9 million (Q1/2025: EUR 5.1 million).

Positive free cash flow

Cash flow from operating activities in the first quarter of 2026 was EUR 53.6 million (Q1/2025: EUR 35.1 million). In particular, the reduction in working capital had a positive impact compared with the previous year. Free cash flow benefited from the improved operating cash flow and amounted to EUR 48.5 million in the first three months of 2026. This corresponds to an improvement of EUR 18.7 million compared with the previous year (Q1/2025: EUR 29.8 million).

As of March 31, 2026, AIXTRON reported cash and cash equivalents, including other current financial assets, of EUR 272.7 million (December 31, 2025: EUR 224.6 million). The equity ratio of 85% as of March 31, 2026 underscores AIXTRON's financial strength (December 31, 2025: 88%).

"The successful placement of AIXTRON’s first convertible bond underscores the capital markets’ confidence in the strength and long-term potential of our strategy. We have been able to raise EUR 450 million with zero coupon. This now gives us full flexibility to act on future business opportunities. At the same time, we will remain financially disciplined and continue further optimizing working capital," says Dr. Christian Danninger, CFO of AIXTRON SE.

Updated 2026 full-year guidance confirmed

AIXTRON confirms its updated 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 from Q2/2026 onwards.

The Executive Board expects revenues of EUR 560 million in a range of ± EUR 30 million (previously: EUR 520 million in a range of ± EUR 30 million), a gross margin of around 42% (previously: 41% to 42%) and an EBIT margin of 17% to 20% (previously: 16% to 19%) 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 personnel reduction undertaken in the operations area.

For the second quarter of 2026, the Executive Board expects revenues of EUR 110 million in a range of ± EUR 10 million.

Key figures at a glance

* not meaningful

Financial information

The presentation on the results for the first three 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 Group's Quarterly Statement Q1/2026 at:

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

Investor conference call

In conjunction with the release of the Q1/2026 results, AIXTRON will host a conference call (in English) for analysts and investors on Thursday, April 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 – Q1/2026". 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 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.