Management answered all questions in a positive and very convincing fashion. Question centered on:
- guidance 2023 (order intake, revenue, margin, R&D spend)
- guidance 2024 (guesses on growth, and margin)
- export licenses
- new customers
- new systems Prepared remarks from Felix
- Guidance confirmed on all metrics
- Customer project support order intake of 220 Million to the guidance midpoint
- Export licenses take longer than in the past, but no problems
- G10 with particle und uniformity advantage
- G10 GaN very strong demand from existing and new customers (previously not planetary). Uniformity of the 150mm batch produced wafer now better than the 150mm single wafer
- Export controls: Aixtron is not affected from US announced export controls. BAFA has a temporary staffing issue resulting in longer time delays to getting export licenses issued. Q&A Exiter: 220Million order intake to get to midpoint of the guidance? Growth in 2024 single or double digits and margin increase 2024?
A: customer supported projects, broad base not one deal make or break it. More of the same, but much more
2024: not prepared to give guidance, but growth drivers are intact and market share is intact
DB – Michael Kuhn: SiC new customer update promised for Q3
A: repeat orders from existing customers, new entrants. “Customer wins always announced in a PR with the client” in Q4
2024 supply chain is relaxing: Lead times coming down and inventory levels decreasing
MicroLED 10% in 2023 and growth expected in 2024 as a new customer will come online
R&D: € 20 Million the new normal
Order intake drop in Q3? Existing customers wanting to test G10 and therefore delaying order placement into Q4. Orders are incoming SiC:
Tool uniformity how can that be proven? Ask our clients or come to our labs.
Is dual sourcing happening? Market growth (multi year opportunity) in the coming 2-4 years will be coming form new vendors, not from the company that commands the lion share of the existing market (TEL)
Therefore there might be a side by side comparison of tools single versus batch wafers.
SiC is a simple deposit, therefore clients might qualify up to 4 or 5 vendors to avoid supply chain issues down the line.
When will the decision for a factory size order have to be made regarding the necessary lead times? “You will hear from us this quarter”.
Export licenses Purely a paperwork issue. After some time (new staff hired) it will be back to normal
Süss (intensified scrutiny) different from Aixtron, who experience staff related delays of the regular approval process.
Regards
  baggo-mh
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Ich kann nur noch mit den Kopf schüttel, was hier gerade mit Aixtron los ist. Die Analis haben haben ständig auf "Buy" und ziele von 39,40,42 und 52 ausgespuckt. Kann es sein, das die Investoren so ein gebäsche kritisch sehen und dann auf den Verkaufsknopf drücken, weil sie den Analis nicht glauben ???
