AIXTRON AG / Final Results/Dividend
12.03.2009
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
AIXTRON reports full-year results for 2008 / Guidance achieved: Revenues
EUR 274.4m (+28%) / EBIT EUR 32.5m (+58%), Net Result EUR 23m (+33%) / 2008
Dividend Proposal: EUR 0.09 per Share / Book to Bill 1:1 in 2008 / Only
limited 2009 guidance possible: Company intends to remain EBIT positive
Aachen, Germany, March 12, 2009 - AIXTRON AG, worldwide leading provider of
deposition equipment to the semiconductor industry, today announced
financial results for fiscal year 2008, ended December 31, 2008.
Key Financials<pre>
2008 2007 2007=>2008
(million EUR)
Revenues 274.4 214.8 28%
Gross profit 112.9 85.0 33%
Gross margin, % revenues 41% 40% 1pp
EBIT 32.5 20.6 58%
EBIT, % revenues 12% 10% 2pp
Net result 23.0 17.3 33%
Net result, % revenues 8% 8% -
Net result per share - basic (EUR) 0.26 0.20
30%
Net result per share - diluted (EUR) 0.25 0.19
32%
Dividend / Dividend Proposal per Share (EUR) 0.09 0.07
29%
Equipment Order Intake 250.9 247.7 1%
Equipment Order Backlog (End of Period) 105.0 132.0 (20%)</pre>
Operational Highlights
In fiscal year 2008, AIXTRON delivered total Revenues of EUR 274.4m, a 28
percent increase year on year (2007: EUR 214.8m). This substantial increase
was mainly due to higher sales of compound semiconductor equipment, driven
by rising demand for LED end-market applications.
Reflecting the increasing percentage of new common platform system
revenues, paired with a favorable product mix, the Gross Margin improved by
1 percentage point year on year, culminating in a 41 percent Gross Margin
performance by the end of 2008.
Scale effects and further enhancements of internal operating efficiency
allowed the EBIT to increase by 58% year on year to EUR 32.5m, representing
an improved EBIT Margin of 12%. 2008 net result rose by 33% to EUR 23.0m.
Q4 Revenue was exceptionally high at EUR 82.3m. However, Q4 Order Intake
was lower at EUR 40.6m, in line with Management expectations and guidance.
The Opening Order Backlog for fiscal year 2009, adjusted for risk, stands
at EUR 105.0m, providing a solid platform for 2009.
The Executive Board and Supervisory Board will recommend to the
Shareholders' Meeting on May 20th, 2009 the payment of a dividend of EUR
0.09 per share, which would result in accumulated payments of EUR 8.2m to
shareholders. This payment of the dividend is subject to shareholders'
approval.
Outlook
The majority of AIXTRON's customers are reporting very limited visibility
in the currently unsettled environment, with many not able to see beyond
one month ahead. They have consequently become more reluctant to make
longer term purchasing commitments. This lack of visibility impairs
AIXTRON's own ability to give comprehensive guidance for 2009 revenues and
EBIT at this point. That said, AIXTRON intends to remain profitable at an
EBIT level, which will be achieved once revenues reach EUR 170m for the
year. AIXTRON's management will elaborate on this guidance as soon as
visibility improves.
Management Review
Paul Hyland, President & Chief Executive Officer at AIXTRON, comments: 'It
is a matter of considerable satisfaction that, despite the currently
volatile environment, we have been able to deliver a result within the
range we gave as far back as March 2008.
Against softening demand and US-Dollar weakness, we were able to hold the
Gross Margin improvements made earlier in the year and finish it with a
Gross Margin performance in excess of our target of 40%.
But unfortunately, we can pause only momentarily to celebrate this
exceptional performance by the whole AIXTRON team, in fact one of the very
best results in our quarter-century history. The extraordinary financial
and economic turmoil has already firmly focused our minds on 2009 and
beyond.
Looking into 2009, we start what will be a challenging year for all
industries, with many of the key boxes ticked: We have a very strong market
share position. We have a full product development pipeline. We have a good
cash position, carry no debt and our balance sheet and our operational
flexibility give us the exceptional resilience needed in these
circumstances.
We are confident of achieving our 2009 objective to come out of this
turbulent period stronger than we went into it. I remain convinced that
this crisis offers many opportunities for AIXTRON if we can retain a
positive and proactive attitude to the challenges ahead.'
Investor Conference Call
AIXTRON will host a financial analyst and investor conference call on
Thursday, March 12th, 2009, 3:00 p.m. CET (7:00 a.m. PDT, 10:00 a.m. EDT)
to review the full-year 2008 results. From 2:50 p.m. CET (6:50 a.m. PDT,
9:50 a.m. EDT) you may dial in to the call at +49 (6958) 999 0797 or +1
(480) 248 5081. Both a conference call audio replay and a transcript of the
conference call will be available at http://www.aixtron.com, section
'investors', following the conference call.
Financial Tables
AIXTRON offers an interactive Annual Report on the Internet. This service
offers a number of extra functions, allowing a convenient way to compile
and download individual segments of AIXTRON's Annual Report. Financial
tables are also available as downloads. All consolidated financial
statements (balance sheet, income statement, cash-flow statement, statement
of changes in equity) relating to this press release are available at
www.aixtron.com, section 'Investors', subsection 'Reports/Presentations',
as part of AIXTRON's Group report for the full year 2008 ended December 31,
2008.
Contact:
Guido Pickert
Investor Relations and Corporate Communications
T: +49-241-8909-444
F: +49-241-8909-445
invest@aixtron.com
For further information on AIXTRON AG (FSE: AIXA, ISIN DE000A0WMPJ6;
NASDAQ: AIXG, ISIN US0096061041) please consult our website at:
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 AIXTRON's 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. 15-17, 52072 Aachen, Germany
Phone: +49 241 8909 444, Fax: +49 241 8909 445, invest@aixtron.com
www.aixtron.com
DGAP 12.03.2009
---------------------------------------------------------------------------
Language: English
Issuer: AIXTRON AG
Kackertstr. 15-17
52072 Aachen
Deutschland
Phone: +49 (241) 8909-444
Fax: +49 (241) 8909-445
E-mail: invest@aixtron.com
Internet: www.aixtron.com
ISIN: DE000A0WMPJ6, US0096061041
WKN: A0WMPJ
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Düsseldorf; Terminbörse EUREX;
Foreign Exchange(s) Nasdaq
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-News: AIXTRON AG reports full-year results for 2008 / Guidance achieved: Revenues EUR 274.4m (+28%) / EBIT EUR 32.5m (+58%), Net Result EUR 23m (+33%)
| Source: EQS Group AG