Sunday, 15 Sep 2019

Aixtron reports financial results for Q3 2015

Revenue growth was based on a wide range of different applications such as LEDs, laser, memory chips and power electronic

28 Oct 2014 | Editor

Aixtron has recently announced revenues of Eur 54.6m for the third quarter 2015, due to increased scheduled shipments and were 35% up against the previous quarter (2015-Q2: Eur 40.4 million).

The main reasons are an improved gross margin in Q3 due to a more favourable product mix and lower operational costs, including a payment from a contractual settlement.

Key Financials

Aixtron reports financial results for Q3 2015
+/- 2015
Revenue 135.3 135.8 0% 54.6 40.4 35%
Gross Profit 30.2 29.9 3% 17.8 3.6 394
Operating result (EBIT) (25.2) (39.4) 36% 1.5 (17.9) 108%
Net result (27.3) (43.4) 37% 0.3 (18.1) 102%)
Net result per share - basic(€) (0.24) (0.39) 38% 0.01 (0.17) 106%


  • The global penetration of LED technology in the lighting market continues. Because of the continuing qualification processes of the AIX R6 showerhead tool, the demand for this system type remained subdued
  • The revenue development in Q3/2015 was based on a wide range of different applications such as LEDs, laser, memory chips and power electronics
  • Overall, demand in the first nine months 2015 remained relatively slow
  • Total equipment order backlog at Eur 72.3m as at September 30, 2015 was 2% up compared with the previous year (September 30, 2014: Eur 70.7m) but 21% down against the previous quarter (June 30, 2015: Eur 91.2m)
  • This backlog figure continues to exclude tools from the order of the major Chinese customer
  • Cash and cash equivalents (including bank deposits with a maturity of more than three months) as of September 30, 2015 amounted to Eur 243.5m, Eur 11.9m lower than the end of the previous quarter (June 30, 2015: Eur 255.4m)

Management Review

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

  • Due to postponed shipments, in particular of the AIX R6 showerhead system, we have recently revised our revenue expectations for the current financial year
  • We work intensively with our customers to push forward and to successfully complete the qualification processes
  • We continue to proceed in the strengthening of our product and technology portfolio
  • In the area of OLEDs, we have received a first order for our encapsulation technology OPTACAP
  • The test runs of our Gen8 demonstrator for the production of large-area OLEDs are moving forward on schedule and therefore, we anticipate results from customer demonstrations within the coming months
  • In addition, we were able to score in applications such as LED, laser, telecommunication and power electronics as well as in Memory products
  • The margin improvement resulting from it supports our recently communicated profit expectations for the current financial year
  • The third quarter also proves that markets in Europe and the U.S. are still of great importance


Management expects 2015 full year revenues of Eur 190m to 200m.

The guidance was revised due to a postponement of shipments to a major Chinese customer which were planned for delivery in 2015.

These deliveries are now expected for 2016 depending on the progress of the ongoing milestone based qualification process.

Management reiterates its target to reach EBITDA break-even within the second half of 2015.

Year-on-year, EBIT and net result are expected to improve but to remain negative for the full year 2015.


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