The issuer is solely responsible for the content of this announcement.
AIXTRON on track
Strong order growth of 41% / Rising revenue momentum / Continued strong R&D activities / Unchanged high liquidity and equity ratio / Guidance confirmed
Despite the Corona crisis,
The main drivers of the growing customer demand for deposition equipment are the growing markets for gallium nitride and silicon carbide power electronics, lasers for ultra-fast optical data transmission and specialty LEDs for display and disinfection applications. Despite the COVID-19 pandemic, AIXTRON's operations have been up and running without interruption due to early measures taken and a stable supply chain.
High order backlog
The equipment manufacturer for the semiconductor industry enters the second half of 2020 with a very strong 42% year-on-year increase in the order backlog to
Due to the development of order intakes in the previous year, revenues (including service and spare parts) in the first six months of 2020 were, as expected, lower than in the corresponding period of the previous year (
AIXTRON continued to show strong profitability and return on investment in the period from January to
Continued strong R&D activities
The significant increase in revenues and margins between April and June resulted in a significantly improved operating result (EBIT, earnings before interest and taxes) of
AIXTRON invested
Solid financial foundation
As a result of the lower revenues and margins, net result in the first half of the year of
The stable equity ratio of 82% at the end of the first half of the year (
Based on the solid order backlog and the currently estimated low impact of the COVID-19 pandemic, AIXTRONs Executive Board confirms its guidance for the full year 2020, and on the basis of an exchange rate of
'In the second half of the year, our business should grow much more dynamically again. We expect revenues to grow strongly in the third quarter and then again in the final quarter', commented Dr.
Dr.
Financial Statements
The presentation on the results for the first half of 2020 is available at https://www.aixtron.com/en/investors/publications. The complete financial tables of the Group (income statement, other comprehensive income, balance sheet, cash flow statement and statement of changes in equity) relating to this press release are available as part of the Interim Financial Report H1/2020 at
https://www.aixtron.com/en/investors/publications
Investor Conference Call
In conjunction with the announcement of the results for the first half of 2020, AIXTRON will hold a conference call (in English) for analysts and investors on
Key Financials 2020 2019 +/- 2020 2019 +/-
(in EUR million) H1 H1 % Q2 Q2 %
Order Intake 138.4 98.3 41 69.6 44.7 56
Order backlog (Equipment only) 156.6 110.1 42 156.6 110.1 42
Revenues 97.0 132.0 -27 56.0 63.3 -12
Gross profit 37.5 52.6 -29 22.9 25.9 -12
% 39% 40% -1 pp 41% 41% 0 pp
EBIT 2.2 19.1 -88 3.3 9.3 -65
% 2% 14% -12 pp 6% 15% -9 pp
Net result 2.5 15.8 -84 3.3 7.3 -55
% 3% 12% -9 pp 6% 12% -6 pp
Free Cash Flow -8.4 -4.8 -75 -11.3 12.6 -190
To download photos please click here.
Contact
Head of Investor Relations & Corporate Communications
Phone +49 (2407) 9030-444
MAIL g.pickert@aixtron.com
About AIXTRON
Our registered trademarks: AIXACT, AIXTRON, APEVA, Atomic Level SolutionS, Close Coupled Showerhead, CRIUS, EXP, EPISON, Gas Foil Rotation, Optacap, OVPD, Planetary Reactor, PVPD, STExS, TriJet
For further information on
Forward-Looking Statements
This document may contain forward-looking statements regarding the business, results of operations, financial condition and earnings outlook of AIXTRON. These statements may be identified by words such as 'may', 'will', 'expect', 'anticipate', 'contemplate', 'intend', 'plan', 'believe', 'continue' and 'estimate' and variations of such words or similar expressions. These forward-looking statements are based on our current assessments, expectations and assumptions, of which many are beyond control of AIXTRON, and are subject to risks and uncertainties. You should not place undue reliance on these forward-looking statements. Should these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of AIXTRON may materially vary from those described explicitly or implicitly in the relevant forward-looking statement. This could result from a variety of factors, such as actual customer orders received by AIXTRON, the level of demand for deposition technology in the market, the timing of final acceptance of products by customers, the condition of financial markets and access to financing for AIXTRON, general conditions in the market for deposition plants and macroeconomic conditions, cancellations, rescheduling or delays in product shipments, production capacity constraints, extended sales and qualification cycles, difficulties in the production process, the general development in the semi-conductor industry, increased competition, fluctuations in exchange rates, availability of public funding, fluctuations and/or changes in interest rates, delays in developing and marketing new products, a deterioration of the general economic situation and any other factors discussed in any reports or other announcements , in particular in the chapter Risks in the Annual Report, filed by AIXTRON. Any forward-looking statements contained in this document are based on current expectations and projections of the executive board based on information available the date hereof. AIXTRON undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise, unless expressly required to do so by law.
(C) 2020 Electronic News Publishing, source