Thursday, 17 Oct 2019

Aixtron reports financial results for Q2 2015

Management reiterates its February revenue forecast of EUR 220 to 250 million for fiscal year 2015

29 Jul 2015 | Editor

Aixtron has announced financial results for the first half and the second quarter 2015. Revenues what flat compared to the previous quarter and 10% down on the same period as last year.

The total equipment order backlog of EUR 91.2m as at June 30, 2015 reached the highest level since 2012 (June 30, 2014: Eur 66.4m) with the major part of the order backlog scheduled for delivery within this year.

Key Financials

Aixtron reports financial results for Q2 2015
+/- 2015
Revenue 80.7 90.1 (10%) 40.4 40.3 0%
Gross Profit 12.4 22.6 (45%) 3.6 8.8 (59%)
Operating result (EBIT) (27.6) (21.5) (24%) (17.9) (8.8) (103%)
Net result (27.6) (23.4) (18%) (18.1) (9.5) (91%)
Net result per share - basic(€) (0.25) (0.21) (19%) (0.17) (0.08) (113%)


  • Demand for LED chips is growing due to an increasing penetration of LED technology in the lighting market and the demand of LEDs for displays, with high utilization rates at many LED producers
  • Despite that, orders and shipments in the first half-year remained slow
  • The integration of US technology company PlasmaSi, Inc., acquired at the beginning of April 2015, is going well with Aixtron expecting measurable market and customer synergies in the area of OLED technology shortly
  • Aixtron forecasts first orders for the OLED encapsulation technology Optacap in the current fiscal year
  • Cash and cash equivalents (including bank deposits with a maturity of more than three months) as of June 30, 2015 amounted to EUR 255.4m, EUR 7.8m lower than the end of the previous quarter (March 31, 2015: EUR 263.2m)
  • The difference from free cash flow mainly results from the currency difference of the US$-based cash and cash equivalents as well as from the acquisition of PlasmaSi, Inc. in April 2015


  • Based on the first half 2015 results and the current assessment of AIXTRON’s latest revenue forecast, including risks and opportunities, Management reiterates its February revenue forecast of EUR 220 to 250 million for fiscal year 2015
  • This guidance is supported by the backlog and based on the assumption of current USD/EUR exchange rates
  • Furthermore, it includes expected shipments of AIX R6 MOCVD tools which still depend on successfully reaching customer specific milestones within their individual production qualification processes
  • Management continues to expect returning to EBITDA break-even within the second half of 2015

Management Review

Martin Goetzeler, President &Chief Executive Officer at Aixtron said:

  • In the context of the qualification of our new MOCVD tool AIX R6, we have been working intensively with our customers
  • Thereby, specific additional costs are reflected in the unsatisfactory result of the second quarter
  • Overall, we have agreements with eight customers for the AIX R6, of which one has recently qualified the system for production
  • We continue to make good progress in the strengthening of our product and technology portfolio
  • In the field of OLEDs, we are seeing strong interest from customers regarding the technology of the recently acquired PlasmaSi, Inc
  • First test runs of our Gen8 demonstrator for the production of large-area OLEDs are positive
  • In addition, during 2015 we expect significant growth for our planetary systems covering applications such as LED, laser, telecommunication and power electronics as well as for our memory and logic products
  • This is included in our expectations for the second half of 2015 which are supported by the strong backlog


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