Aixtron sees power electronics orders start to recover in Q3

Aixtron on Thursday reported that power electronics orders began to recover in the third quarter, with the segment accounting for 24% of equipment orders as the company released detailed results on Thursday.

The semiconductor equipment maker said optoelectronics made up 68% of third quarter equipment orders, while power electronics, including silicon carbide and gallium nitride products, formed 24%.

The company said first orders for capacity expansions and a growing pipeline point to the start of a recovery in power electronics.

Aixtron recorded advance pre-prepayments of €110 million in the quarter, covering 40% of third quarter orders. The company said its equipment order backlog reached €549.4 million, providing revenue visibility into 2027.

Third quarter order intake totaled €275 million, exceeding the consensus estimate of €210 million. Revenue came in at €184 million, slightly above the €180 million consensus figure.

The company posted a gross margin of 48% in the quarter, above the 44.1% consensus estimate. The operating margin reached 31%, compared to the 25.2% consensus.

Aixtron maintained its full-year 2026 guidance, targeting revenue of €560 million plus or minus €30 million. The company expects a gross margin of around 42% and an operating margin in the range of 17% to 20%.