Key Highlights

● Second-quarter Revenue was 115 million euros, 16% lower than a year earlier.

● Order intake was 215 million euros, with optoelectronics at 75% of equipment orders.

● Customer advance payments of 197 million euros supported quarterly free cash flow.

● Aixtron guides to 2026 revenue of 560 million euros, plus or minus 30 million.

Latest verified development: second-quarter results

Aixtron SE (OTC:AIXXF), a German maker of deposition equipment used in compound-semiconductor and optoelectronics manufacturing, reported second-quarter 2026 results on 30 July 2026. Its primary listing is in Frankfurt under the ticker AIXA, and its ordinary shares are also quoted over the counter in the United States as AIXXF.

Revenue was 115 million euros, up from 59 million in the first quarter but 16% lower than a year earlier. Order intake was 215 million euros, with optoelectronics accounting for 75% of equipment orders. Order intake of 215 million euros against revenue of 115 million gives a ratio of about 1.9, meaning that orders ran well ahead of sales in the quarter.

Margins and cash flow

EBIT, or Earnings before interest and tax, was 15 million euros, a Margin of 13%. For the first half, EBIT was negative 8 million euros, which implies a first-quarter EBIT loss of about 23 million euros. The second quarter therefore narrowed the half-year loss but did not turn it into a profit. Results include one-time personnel-reduction costs described as mid-single-digit millions of euros.

Free Cash Flow in the quarter was 114 million euros, which was supported by customer advance payments of 197 million euros held at the end of June. Advance payments are cash received before delivery and revenue recognition, so they are not earnings and reverse as equipment ships. Liquidity stood at 816 million euros.

Guidance and what it implies

Management guided to 2026 revenue of 560 million euros, plus or minus 30 million, a gross margin of about 42% and an EBIT margin of 17% to 20%. For the third quarter it expects revenue of 180 million euros, plus or minus 20 million.

First-half revenue was about 174 million euros, the sum of the two reported quarters. At the 560 million midpoint, the second half would need to deliver roughly 386 million euros, or about 206 million in the fourth quarter after a 180 million third-quarter midpoint. The guidance therefore depends heavily on deliveries in the second half of the year.

Investment and capacity

Capital expenditure for 2026 is expected to be about 55 million euros, including roughly two-thirds of a 40 million euro Investment in Malaysia.

Optoelectronics' 75% share of equipment orders shows how concentrated current Demand is in one end-market, which is a source of both opportunity and cyclicality.

Aixtron Q3 revenue and order conversion

The 2026 outlook rests on second-half deliveries of about 386 million euros at the midpoint, after 115 million in the second quarter, and the 197 million euros of customer advances are due to reverse as that equipment ships.