AIXTRON AG / Quarter Results
29.04.2010 07:36
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AIXTRON on track to achieve record result in 2010
- Operational leverage driving profit growth -
- Business outlook remains positive for 2010 -
- 2010 guidance raised to EUR 650m-700m revenues and circa 30% EBIT -
Aachen, Germany, April 29, 2010 - AIXTRON AG (FSE: AIXA; NASDAQ: AIXG),
worldwide leading provider of deposition equipment to the semiconductor
industry, today announced the consolidated financial results for the first
quarter of 2010.
Key Financials
|[![CDATA[|[pre|]]]|]
2010 2009 +/- 2010 2009 +/-
(in EUR million) Q1 Q4 % Q1 Q1 %
Revenues 154.5 117.9 31% 154.5 46.2 234%
Gross profit 77.9 55.5 40% 77.9 21.0 271%
Gross margin 50% 47% 3 pp 50% 45% 5 pp
Operating result (EBIT) 46.4 33.7 38% 46.4 7.6 511%
EBIT margin 30% 29% 1 pp 30% 16% 14 pp
Net result 31.8 24.4 30% 31.8 5.5 478%
Net result margin 21% 21% 0 pp 21% 12% 9 pp
Net result per share - basic
(EUR) 0.32 0.26 23% 0.32 0.06 433%
Net result per share - diluted
(EUR) 0.31 0.26 19% 0.31 0.06 417%
Equipment order intake 168.5 163.3 3% 168.5 31.2 440%
Equipment order backlog (end of 229.9 203.8 13% 229.9 100.7 128%
period)
|[![CDATA[|[/pre|]]]|]
Financial Highlights
Continuing healthy demand, beneficial volume effects, and a stronger US
Dollar have all contributed to the positive business performance in
Q1/2010. The steadily increasing revenue growth is underlined by a 31%
sequential revenue increase in Q1/2010 to EUR 154.5m. The gross margin in
Q1/2010 was 3 percentage points higher at 50% compared to Q4/2009. The
Q1/2010 operating result increased sequentially by 38% to EUR 46.4m with a
one percentage point higher EBIT margin of 30%, leading to a net result of
EUR 31.8m or 21% return on sales. The Q1/2010 net income was 30% up quarter
on quarter.
In a year on year comparison; AIXTRON revenues increased by 234% and the
gross margin increased by 5 percentage points from 45%. The EBIT margin
nearly doubled from 16% to 30% and the net income has improved by 478% with
a 9 percentage points increase of net income to revenues since Q1/2009.
Q1/2010 was the fourth sequential quarter of rising order intake and
revenues and the third sequential quarter of rising EBIT performance.
At the current high levels, order visibility remains healthy with the
Q1/2010 order intake of EUR 168.5m representing a 3% sequential increase
and a 440% increase year on year.
While the compound backlog to revenue conversion rate has been improving to
76%, the total equipment order backlog of EUR 229.9m at March 31, 2010 was
13% higher than the EUR 203.8m recorded as of December 31, 2009, and 20%
higher than the subsequently revalued opening order backlog as of January
1, 2010 of EUR 190.9m.
Management Review
Paul Hyland, President & Chief Executive Officer at AIXTRON, comments: 'It
is always good to start the year with a strong set of results, and these Q1
figures build on what was already an excellent foundation for a record
performance year in 2010. Our consistent performance over the last 12
months has clearly demonstrated that our flexible business model and our
product development strategy enables us to not only meet huge rises in
demand but also to increasingly drive our profitability through operational
leverage.
Following the product launch in February, and the very encouraging market
response to our latest generation IC 2 platform system with our Generation
5 Planetary and CRIUS(R) II reactor technologies on board, we are
increasingly confident that the timely market-led decisions we have made
previously, on technology development and product launch timing, exactly
match the current market dynamics.
We are the market leader in this complex space, because we are the
technology leader and our new R&D center, which is currently being built,
is another important element of our determination to remain the
key-enabling technology player in this market. Our customers and
shareholders stand to be the main beneficiaries of that determination.'
Outlook
Reflecting the current healthy climate, the AIXTRON Executive Board has
raised the full year 2010 guidance to a range of EUR 650m-700m revenues
with an EBIT margin of circa 30%.
Financial Tables
The Q1/2010 results presentation as well as all consolidated financial
statements (income statement, statement of other comprehensive income,
statement of financial position, statement of cash-flows, statement of
changes in equity) relating to this press release are available at
http://www.aixtron.com, section 'Investors/Reports/Presentations', as part
of AIXTRON's Quarterly Financial Report for the first quarter 2010.
Investor Conference Call
AIXTRON will host a financial analyst and investor conference call on
Thursday, April 29, 2010, 3:00 p.m. CEST (6:00 a.m. PDT, 09:00 a.m. EDT) to
review the Q1/2010 results.
From 2:45 p.m. CEST (5:45 a.m. PDT, 8:45 a.m. EDT) you may dial in to the
call at
+49 (69) 247 501-891 or +1 (212) 444-0297. A conference call audio replay
or a transcript of the conference call will be available at
http://www.aixtron.com, section 'Investors/Reports/Presentations',
following the conference call.
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, ISIN
DE000A1DAHX7; 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, Kaiserstr. 98, 52134 Herzogenrath, Germany
Phone: +49 241 8909 444, Fax: +49 241 8909 445, invest@aixtron.com
www.aixtron.com
29.04.2010 07:36 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: AIXTRON AG
Kaiserstr. 98
52134 Herzogenrath
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, München, Düsseldorf, Stuttgart; Terminbörse EUREX
End of News DGAP News-Service
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DGAP-News: AIXTRON on track to achieve record result in 2010 / Operational leverage driving profit growth / Business outlook remains positive for 2010 / 2010 guidance raised to EUR 650m-700m revenues and circa 30% EBIT
| Quelle: EQS Group AG