Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. AIXTRON SE
  6. News
  7. Summary
    AIXA   DE000A0WMPJ6

AIXTRON SE

(AIXA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

AIXTRON : 6-MONTHS-REPORT 2021.PDF

07/29/2021 | 01:37am EDT

Half-Year Group Financial Report

We are shaping the future.

With innovation and precision.

AIXTRON GROUP

FINANCIALS AT A GLANCE

Key Quarterly Financials

+/-

+/-

In EUR million

H1 2021

H1 2020

%

Q2 2021

Q1 2021

%

Order intake

263.3

138.4

90%

139.0

124.4

12%

Order backlog

295.0

156.6

88%

295.0

223.5

32%

(Equipment only)

Revenues

117.2

97.0

21%

67.7

49.5

37%

Gross profit

45.2

37.5

21%

27.9

17.3

61%

%

39%

39%

0pp

41%

35%

6pp

EBIT

4.9

2.2

123%

5.6

-0.7

900%

%

4%

2%

2pp

8%

-1%

9pp

Net result

11.5

2.5

360%

7.7

3.8

103%

%

10%

3%

7pp

11%

8%

3pp

Free cash flow

46.1

-8.4

649%

18.0

28.1

-36%

Key Balance Sheet Data

In EUR million

Jun 30 2021

Dec 31 2020

Inventories

125.5

79.1

Trade Receivables

34.7

41.3

Cash, cash equivalent and other financial asset

348.2

309.7

Trade Payables

22.4

10.8

Contract liabilities for advance payments

122.5

50.8

Equity

503.2

496.4

Equity Ratio

73%

84%

Key Share Data

In EUR

H1 2021

H1 2020

Closing Price (end of period)

22.93

10.66

Period High Price

23.30

11.49

Period Low Price

14.16

6.20

Number of shares issued (end of period)

113,202,020

112,927,320

Market capitalization (end of period), million EUR

2,595.7

1,203.2

Net result per share (EUR)

0,11

0.02

2

AIXTRON 2021 HALF-YEAR GROUP FINANCIAL REPORT

TABLE OF CONTENTS

FINANCIALS AT A GLANCE

2

BUSINESS DEVELOPMENT

4

INTERIM MANAGEMENT REPORT

6

Business Activity and Strategy

6

Economic Report

7

Macroeconomic developments

7

Industry developments

8

Results of Operations

9

Development of Orders

9

Exchange Rate Development of the US Dollar

10

Development of Revenues

10

Development of Results

11

Financial Position and Net Assets

13

Cashflow

14

Opportunities and Risks

14

Outlook

15

INTERIM FINANCIAL STATEMENTS

16

Consolidated Income Statement (unaudited)

16

Consolidated Statement of other Comprehensive Income (unaudited)

16

Consolidated Statement of Financial Position (unaudited)

17

Consolidated Statement of Cash Flows (unaudited)

18

Consolidated Statement of Changes in Equity (unaudited)

19

ADDITIONAL DISCLOSURES

20

Accounting Policies

20

Segment Reporting

21

Stock Option Plans

21

Employees

22

Dividend

22

Restructuring Costs

22

Financial Instruments

23

Management

23

Related Party Transactions

23

Post-Balance Sheet Date Events

23

Responsibility Statement

24

Forward-Looking Statements

25

3

AIXTRON 2021 HALF-YEAR GROUP FINANCIAL REPORT

AIXTRON GROUP

BUSINESS DEVELOPMENT

Persistently high order momentum

Large orders in the second quarter

Increased full-year guidance for order intake

AIXTRON booked a number of large orders in the second quarter, which had a positive effect on the order intake of the second quarter and the first half year. Accordingly, order intake for H1/2021 was significantly higher than the previous year's figure at EUR 263.3 million (H1/2020: EUR 138.4 million). This is a result of the continued high demand from various end-markets, especially in the fields of gallium nitride power electronics, wireless and optical data transmission, as well as LEDs for fine pitch displays and indoor farming. Revenue in H1/2021 also improved as expected from the prior year and was 21% higher year-on-year at EUR 117.2 million (H1/2020: EUR 97.0 million). The positive and better-than-expected order situation in the first six months will lead to an increase in deliveries and revenues in the 2021 financial year. Accordingly, the Executive Board raised the forecast for the 2021 financial year on June 9, 2021 and communicated it via ad-hoc release. Based on the very positive order development, the Executive Board is once again raising the forecast for the order intake in the financial year 2021 to a range of EUR 440 million to EUR 480 million (previously: EUR 420 million to EUR 460 million). The Executive Board reaffirms the forecast for the financial year 2021, which was raised in June, of revenues between EUR 400 million to EUR 440 million, a gross margin of around 40% of revenues and an EBIT margin of 20% to 22% of revenues.

At EUR 139.0 million in Q2/2021, order intake exceeded the high level of the previous quarter (Q1/2021: EUR 124.4 million) and reached the highest level since 2011. It was thus about twice as high as in the same quarter of the previous year (Q2/2020: EUR 69.6 million). This development is mainly due to high demand for equipment for the production of gallium nitride power electronics, components to build and expand 5G mobile and fibre optical networks, as well as LEDs for fine pitch displays and indoor farming. This was also reflected in the second quarter in corresponding large orders placed by our customers for the above-mentioned application. The equipment order backlog as of June 30, 2021, increased to EUR 295.0 million (Q1/2021: EUR 223.5 million).

4

AIXTRON 2021 HALF-YEAR GROUP FINANCIAL REPORT

AIXTRON GROUP

The revenue and earnings development in Q2/2021 is fully in line with expectations and in line with our customers' delivery requests. Compared to the previous year, revenues in Q2 2021 increased by 21% to EUR 67.7 million (Q2/2020: EUR 56.0 million) and were 37% higher compared to the previous quarter (Q1/2021: EUR 49.5 million). Gross profit for Q2/2021 was EUR 27.9 million with a gross margin of 41% (Q2/2020: EUR 22.9 million; 41%; Q1/2021: EUR 17.3 million; 35%). The gross margin for H1/2021 was 39%. Operating expenses for Q2/2021 were EUR 22.3 million, higher than the previous quarter (Q1/2021: EUR 18.0 million; Q2/2020: EUR 19.6 million), which was mainly due to the structural adjustments at our OLED-specialist subsidiary APEVA announced in the supplementary report of the quarterly statement for the first quarter of 2021. This resulted in an operating result (EBIT) of EUR 5.6 million and an EBIT margin of 8% (Q1/2021: EUR -0.7 million; -1%; Q2/2020: EUR 3.3 million; 6%). The net profit in Q2/2021 was EUR 7.7 million (Q1/2021: EUR 3.8 million; Q2/2020: EUR 3.3 million). In this context, the capitalization of deferred taxes on loss carryforwards in the amount of EUR 3.4 million in Q2/2021 due to expected future profits had a positive impact.

Free cash flow in Q2/2021 was EUR 18.0 million (Q1/2021: EUR 28.1 million; Q2/2020: EUR -11.3 million), largely due to the current result and an increase in advance payments by customers.

AIXTRON reported cash and cash equivalents including financial assets of EUR 348.2 million as of June 30, 2021 (December 31, 2020: EUR 309.7 million; June 30, 2020: EUR 288.6 million). Due in particular to the significantly increased liabilities from advance payments by customers, the equity ratio was 73% as at June 30, 2021 (December 31, 2020: 84%).

The COVID-19pandemic is still posing no significant risk to the AIXTRON Group and our business. Strict internal protective measures are in place to ensure safety in operations. This includes the offer to all AIXTRON employees to have a COVID-19 screening carried out regularly at work. AIXTRON was also able to offer COVID-19 vaccination to all interested employees in Q2. Approximately half of our employees have returned to the office from the mobile office since mid-July this year. The impact of the pandemic on our business remains at a low level and our supply chains are stable.

5

AIXTRON 2021 HALF-YEAR GROUP FINANCIAL REPORT

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Aixtron SE published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 05:36:10 UTC.


© Publicnow 2021
All news about AIXTRON SE
08/31AIXTRON SE : Release according to Article 41 of the WpHG [the German Securities ..
EQ
08/03AIXTRON : supports flood victims
PU
08/02AIXTRON : Barclays reiterates its Buy rating
MD
07/30AIXTRON : Berenberg gives a Buy rating
MD
07/29AIXTRON : DZ Bank keeps its Buy rating
MD
07/29AIXTRON : Receives a Buy rating from Warburg Research
MD
07/29AIXTRON : Barclays keeps its Buy rating
MD
07/29AIXTRON : Q2 2021 Investor Presentation.PDF
PU
07/29AIXTRON : 6-months-report 2021.pdf
PU
07/29PRESS RELEASE : AIXTRON successfully continues growth / Order intake plus 90% / ..
DJ
More news
Analyst Recommendations on AIXTRON SE
More recommendations
Financials
Sales 2021 426 M 499 M 499 M
Net income 2021 79,0 M 92,6 M 92,6 M
Net cash 2021 283 M 332 M 332 M
P/E ratio 2021 33,1x
Yield 2021 0,78%
Capitalization 2 613 M 3 068 M 3 064 M
EV / Sales 2021 5,47x
EV / Sales 2022 4,93x
Nbr of Employees 718
Free-Float 94,3%
Chart AIXTRON SE
Duration : Period :
AIXTRON SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AIXTRON SE
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 9
Last Close Price 23,31 €
Average target price 25,61 €
Spread / Average Target 9,87%
EPS Revisions
Managers and Directors
Felix Jan Grawert President, CEO & Chairman-Executive Board
Christian Danninger Chief Financial Officer & Executive Director
Kim Schindelhauer Chairman-Supervisory Board
Michael Heuken Vice President-Research & Development
Jochen Linck Chief Operating & Technical Officer
Sector and Competitors
1st jan.Capi. (M$)
AIXTRON SE63.41%3 068
ASML HOLDING N.V.83.85%351 574
LAM RESEARCH CORPORATION28.95%86 447
TOKYO ELECTRON LIMITED44.35%78 468
QORVO, INC.5.43%19 483
ASE TECHNOLOGY HOLDING CO., LTD.45.14%18 306