Aixtron reports strong increase in orders
Aixtron SE has reported a strong increase in orders, driven by equipment demand for laser applications in AI data centre communications.
Q3/2026 order intake rose by 122 percent year-on-year to €274.9m (Q3/2025: €124.0m), with optoelectronics accounting for around 68 percent and power electronics for 24 percent of equipment orders. Revenues reached €183.6m, within the guided range of €180m ± €20m. For the first nine months of 2026, revenues amounted to €358.1m (9M/2025: €369.5m).
Production continued to ramp up during the year. Equipment order backlog reached €549.4m, providing revenue visibility well into 2027. Aixtron confirms its FY 2026 guidance.
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 centre 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.
“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 Christian Danninger, CFO of Aixtron SE.
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 percent of our equipment order intake in the third quarter, reflecting exceptionally strong demand for AI-driven optical connectivity. With an equipment order backlog of €549.4m, we have revenue visibility well into 2027. At the same time, improving customer utilisation, 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 Felix Grawert, CEO of Aixtron SE.
Order intake and order backlog
Total order intake for the first nine months of 2026 was €660.9m, 76 percent above the prior-year level (9M/2025: €374.7m). As of September 30, 2026, equipment order backlog stood at €549.4m, compared with €286.5m a year earlier and €257.8m at year-end 2025.
Revenue development
Revenues in 9M/2026 amounted to €358.1m, slightly down -3 percent yoy (9M/2025: €369.5m). Q3/2026 revenues of €183.6m were up 54 percent yoy (Q3/2025: €119.6m) and within the guidance of €180m in a range of ± €20m.
Gross profit and gross margin
Aixtron recorded gross profit of €144.9m in the first nine months of 2026 (9M/2025: €136.2m), corresponding to a gross margin of 40 percent (9M/2025: 37 percent). This includes one-off expenses in the mid-single-digit €million range related to the personnel reduction implemented in operations. In Q3/2026, gross profit increased by 88 percent year-on-year to €87.3m (Q3/2025: €46.4m), reflecting the higher revenue volume and a favorable product and regional mix. The gross margin thus improved to 48 percent from 39 percent in Q3/2025.
Operating expenses and EBIT
Operating expenses increased by 2 percent in the first nine months of 2026 to €95.8m (9M/2025: €93.9m). Research and development expenses, which accounted for the largest share, increased by 17 percent to €69.8m in the first nine months of 2026 (9M/2025: €59.7m). In Q3/2026, operating expenses reached €30.6m, which is flat versus the prior-year quarter (Q3/2025: €30.9m).
Operating result (EBIT) in the first nine months of 2026 increased to €49.1m (9M/2025: €42.3m), corresponding to an EBIT margin of 14 percent (9M/2025: 11 percent). In Q3/2026, EBIT increased to €56.7m from €15.4m 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 percent from 13 percent in Q3/2025.
Net profit for the first nine months of 2026 came in at €32.6m (9M/2025: €37.3m) and €35.4m in the third quarter of 2026 (Q3/2025: €13.0m).
Strong cash flow generation
Cash flow from operating activities amounted to €311.1m in the first nine months of 2026 (9M/2025: €128.5m), of which €138.4m was generated in the third quarter of 2026 (Q3/2025: €43.4m). 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.
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 €560m ± €30m, with a gross margin of about 42 percent and an EBIT margin between 17 percent and 20 percent.
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.
