Aixtron stock: AI orders point to stronger 2027 growth

AIXTRON reported a sharp increase in third-quarter orders on Thursday, October 29, 2026, as demand for equipment used in AI data-center communications accelerated. In its quarterly release, AIXTRON said order intake rose 122% year on year to 274.9 million euros, compared with 124.0 million euros in the year-earlier quarter.

AI demand drives orders

Optoelectronics accounted for about 68% of equipment orders, with demand focused on laser applications for high-speed optical connections in AI data centers. Power electronics represented 24% of orders, and AIXTRON said improving customer utilization, renewed ordering activity and capacity preparations pointed to an early recovery in gallium nitride and silicon carbide applications.

The equipment backlog reached 549.4 million euros at September 30, up from 286.5 million euros a year earlier and 257.8 million euros at the end of 2025. AIXTRON said the backlog provides revenue visibility well into 2027, although production output, customer qualifications and shipment timing will determine how quickly orders become revenue.

Profitability improves sharply

Third-quarter revenue increased 54% year on year to 183.6 million euros, while gross profit rose 88% to 87.3 million euros. The gross margin expanded to 48% from 39%, supported by higher volume and a favorable product and regional mix. EBIT climbed to 56.7 million euros from 15.4 million euros, lifting the EBIT margin to 31% from 13%.

For the first nine months, revenue declined 3% to 358.1 million euros, reflecting the weaker first half. EBIT nevertheless increased 16% to 49.1 million euros, while free cash flow reached 289.9 million euros. AIXTRON said higher customer advance payments were the main driver of the strong cash flow and helped finance the production ramp.

2026 targets remain unchanged

AIXTRON confirmed its full-year 2026 targets of 560 million euros in revenue, plus or minus 30 million euros, a gross margin of about 42% and an EBIT margin between 17% and 20%. Management expects order intake to remain at a strong level or increase in coming quarters, supported first by optoelectronics and increasingly by power electronics.

Chief Executive Felix Grawert described the combination of AI-driven optical-connectivity demand and improving GaN and SiC momentum as support for a strong growth year in 2027. The planned expansion in Penang, Malaysia, remains on schedule and is intended to add manufacturing flexibility and supply-chain resilience. For investors, the main issue is now execution: AIXTRON must convert the enlarged backlog into shipments while maintaining the favorable product mix.

AIXTRON stock traded at 33.75 euros on Lang & Schwarz at 10:16 CET on Thursday, November 12, 2026, 1.57% below the Xetra close of Wednesday, November 11, at 34.29 euros.

The wider market backdrop for European equities is available in the Current market reports.

More news and analyses on Aixtron stock.