AIXTRON AG / Half Year Results/Forecast
07.08.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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AIXTRON on Track
Revenues, Orders and EBIT on high levels Full Year guidance confirmed /
Higher-margin common platform compound systems contribute strongly /
Silicon revenues decrease in line with company expectations & market
conditions
Aachen/Germany, August 7, 2008 AIXTRON AG, a leading provider of
deposition equipment to the semiconductor industry, today announced the
companys financial results for the first half of 2008.<pre>
2008 2007 +/- 2008 2007 +/-
(million EUR) H1 H1 % Q2 Q2 %
Revenues 128.2 109.0 18% 65.6 45.2 45%
Gross profit 50.3 42.5 18% 25.8 18.3 41%
Gross margin 39% 39% 0 pp 39% 40% -1 pp
Operating result (EBIT) 17.6 11.4 54% 8.9 3.2 178%
EBIT-margin 14% 10% 4 pp 14% 7% 7 pp
Net income 13.3 11.5 16% 7.4 3.8 94%
Net income margin 10% 11% -1 pp 11% 8% 3 pp
Earnings per share - basic () 0.15 0.13 15% 0.08 0.04 100%
Earnings per share - diluted 0.15 0.13 15% 0.08 0.04 100%
()
Free cash flow* 16.5 2.5 560% 3.7 8.5 -56%
Equipment Order Intake 158.0 90.8 74% 72.5 50.3 44%
Equipment Order Backlog (End of 165.1 80.3 106% 165.1 80.3 106%
Period)</pre>
* Operating CF + Investing CF + Changes in Cash Deposits
Financial Highlights
AIXTRON recorded Total Revenues of 128.2m during the first half of 2008,
18% higher than the same period last year, in spite of current currency and
macro-economic headwinds.
Gross and Operating margins stand at a healthy 39% and 14% respectively,
mainly as a result of the significantly higher volume effect and
higher-margin Compound Semiconductor common platform system revenues
(around 70% of the total revenue figure in H1/2008).
Group EBIT was up 54% yoy, at 17.6m, including a positive other income
effect from currency hedging in the first six months of 2008. Net Profit
was up 16% yoy at 13.3m.
Order Intake continued to be strong up 74% yoy to 158m, leading to an
Order Backlog figure of 165.1m at June 30. This is more than twice the
size of the backlog at the end of the same period in 2007, and supports
management confidence in confirming the previously given 2008 full-year
guidance.
AIXTRONs operating performance has further strengthened its financial
position. Cash and Cash Equivalents (incl. Cash Deposits) stand at almost
88m to the end of H1/2008, which represents a 15% improvement on the end
of December 2007 figure (Dec. 31, 2007: EUR 76.7m).
Management Review
Paul Hyland, President & Chief Executive Officer of AIXTRON, comments: 'We
have worked very hard in the last few years to ensure that our products are
both market-led and customer focused in design, and that our operations
become increasingly flexible and cost-efficient. Operationally and
financially, we are as strong as we have ever been. This strength will
allow us to continue to perform in the current challenging market
environment and supports our confidence with the guidance range we
published in March this year. We are on track for what will be in 2008
AIXTRONs highest ever recorded annual revenue and we remain very positive
about our medium and long term outlook despite the short term challenges
the whole semi-conductor industry faces.'
Outlook
Following the continued positive Revenue and EBIT development, AIXTRON
management reiterates its full-year 2008 guidance for Total Revenue of
270-300m and an EBIT Margin of 10-12%.
Financial Tables
The consolidated interim financial statements (balance sheet, income
statement, cash flow statement, statement of changes in equity) relating to
this press release are available on http://www.aixtron.com, section
'Investors/Reports/Financial Reports', as part of AIXTRONs Group interim
report for the first half of 2008.
Investor Conference Call
AIXTRON will host a financial analyst and investor conference call on
Thursday, August 7, 2008, 3:00 p.m. CEST (6:00 a.m. PDT, 9:00 a.m. EDT) to
review the first half 2008 results. From 2:45 p.m. CET (5:45 a.m. PDT, 8:45
a.m. EDT) you may dial in to the call at +49 (30) 86871786 or +1 (212)
444-0296. The presentation document reviewing the half year results can be
downloaded from http://www.aixtron.com, section 'Investors/Presentations/IR
Presentation'. Both a conference call audio replay and a transcript of the
conference call will be available at http://www.aixtron.com, section
'Investors/Reports/Conference Call', following the call.
For further information on AIXTRON AG (FSE: AIX, ISIN DE0005066203; NASDAQ:
AIXG, ISIN US0096061041) please consult our website at:
http://www.aixtron.com.
Forward-Looking Statements
This news release may contain forward-looking statements about the
business, financial condition, results of operations and earnings outlook
of AIXTRON within the meaning of the 'safe harbor' provisions of the United
States Private Securities Litigation Reform Act of 1995. Words such as
'may', 'will', 'expect', 'anticipate', 'contemplate', 'intend', 'plan',
'believe', 'continue' and 'estimate', and variations of these words and
similar expressions, identify these forward-looking statements. The
forward-looking statements reflect our current views and assumptions and
are subject to risks and uncertainties. You should not place undue reliance
on the forward-looking statements. The following factors, and others which
are discussed in AIXTRONs public filings and submissions with the U.S.
Securities and Exchange Commission, are among those that may cause actual
and future results and trends to differ materially from our forward-looking
statements: actual customer orders received by AIXTRON; the extent to which
chemical vapor deposition, or CVD, technology is demanded by the market
place; the timing of final acceptance of products by customers; the
financial climate and accessibility of financing; general conditions in the
thin film equipment market and in the macro-economy; cancellations,
rescheduling or delays in product shipments; manufacturing capacity
constraints; lengthy sales and qualification cycles; difficulties in the
production process; changes in semiconductor industry growth; increased
competition; exchange rate fluctuations; availability of government
funding; variability and availability of interest rates; delays in
developing and commercializing new products; general economic conditions
being less favorable than expected; and other factors. The forward-looking
statements contained in this news release are made as of the date hereof
and AIXTRON does not assume any obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, unless required by law.
Contact:
Investor Relations and Corporate Communications
AIXTRON AG, Kackertstr. 1517, 52072 Aachen, Germany
Phone: +49 241 8909 444, Fax: +49 241 8909 445, invest@aixtron.com
www.aixtron.com
DGAP 07.08.2008
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Language: English
Issuer: AIXTRON AG
Kackertstr. 15-17 52072 Aachen
Deutschland
Phone: +49 (0)241 8909-444
Fax: +49 (0)241 8909-40
E-mail: invest@aixtron.com
Internet: www.aixtron.com
ISIN: DE0005066203, US0096061041
WKN: 506620
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) Nasdaq
End of News DGAP News-Service
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DGAP-News: AIXTRON on Track / Revenues, Orders and EBIT on high levels Full Year guidance confirmed / Higher-margin common platform compound systems contribute strongly / Silicon revenues decrease in line with company expectations & market conditions
| Source: EQS Group AG