DGAP-News: AIXTRON sets direction with 5-Point Program / Overriding aim is a return to sustainable profitability
(firmenpresse) - DGAP-News: AIXTRON SE / Key word(s): Strategic Company
Decision/AGM/EGM
AIXTRON sets direction with 5-Point Program / Overriding aim is a
return to sustainable profitability
23.05.2013 / 07:30
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AIXTRON sets direction with 5-Point Program
Overriding aim is a return to sustainable profitability
Aachen, May 23, 2013 - At today's Annual General Meeting, Martin Goetzeler,
the new CEO of AIXTRON SE (ISIN DE000A0WMPJ6) since March, will set out the
measures which the Executive Board intends to implement together with
AIXTRON's team to return the company to sustainable profitability.
'We have to focus more closely than ever on our core competence - optimally
supporting our customers to reach their targets by offering efficient
high-tech equipment for use in complex material deposition. Here, we aim to
regain our position of leadership, and that on a sustainably profitable
basis. That is what we are working towards', Mr. Goetzeler explains and
sets out a clear direction for the company in the 5-Point Program. He
points out that the challenges currently faced by AIXTRON resulted from
both internal and external factors. 'Processes and responsibilities are two
particular areas where we have to do our homework'.
Initial measures have already been initiated in recent weeks. These firstly
include a project to enhance efficiency in the company's product
development. Secondly, the Executive Board has decided to cut more than 20
percent of jobs in Germany - an 'inevitable, albeit very painful' decision.
Further measures introduced in the 5-Point Program intend to contribute
decisively towards a sustainable profitability.
Although the weakness is still apparent on the demand side, the Executive
Board has stressed that the positive medium and long-term outlook is still
intact for the MOCVD, silicon, and organic deposition technologies provided
by AIXTRON.
Key aspects of the 5-Point AIXTRON Program are presented below.
1. Customer - focusing on customer benefit
To optimally address customer needs, such as product quality and
productivity, we compile roadmaps together with our customers that are then
factored into the relevant development programs. The business model is
being reviewed to boost the service business.
2. Technology and products - putting unique product portfolio to more
effective use, further strengthening future products
To be sustainably profitable, we are building on our technological
leadership in complex material deposition and aim to regain market
leadership in the area of MOCVD technology in LED production.
3. Efficiency - systematically optimizing process and project structures
A cross-functional project will optimize the timing and use of resources in
product development and thus make it possible to achieve outstanding
development results at lower expense. The company will also step up its
partnership-based cooperation with suppliers.
4. Finance - value oriented financial targets
AIXTRON's Executive Board sees management by clear financial targets as the
basis for achieving sustainable profitability. Here, it will focus on four
superordinate key financial figures:
- Revenues
- EBIT
- Free cash flow
- Return on capital employed>cost of capital over business cycle (ROCE>WACC).
The current priority has been to rapidly adjust costs to present
circumstances. For the current year, the Executive Board already decided in
March to cut operating expenses - excluding restructuring and
transformation expenses - by 20% compared with the previous year, and thus
to reduce the breakeven point.
5. Employees - strengthening AIXTRON culture, taking individual
responsibility, fortifying communication
Following some tough quarters, we aim to reinforce one of AIXTRON's key
qualities - its employees' sense of identification with their company.
Moreover, the Executive Board wants to further develop our management
culture and to adapt it to new challenges. To accomplish this, we are
agreeing clear goals and closely monitoring their achievement.
In its future financial reporting, the Executive Board will regularly
report both internally and externally on the status of this company
program.
The CEO Martin Goetzeler will provide further details about the 5-Point
Program in his presentation at today's Annual General Meeting in Aachen.
The prepared notes of the speech will be available for download following
the presentation (www.aixtron.com/agm).
Contact:
Guido Pickert
Investor Relations and Corporate Communications
T: +49 (241) 8909 444
F: +49 (241) 8909 445
invest(at)aixtron.com
For more information about AIXTRON (FWB: AIXA, ISIN DE000A0WMPJ6; NASDAQ:
AIXG, ISIN US0096061041) please visit www.aixtron.com.
Forward-Looking Statements
This document may contain forward-looking statements regarding the
business, results of operations, financial condition and earnings outlook
of AIXTRON within the meaning of the safe harbor provisions of the US
Private Securities Litigation Reform Act of 1995. These statements may be
identified by words such as 'may', 'will', 'expect', 'anticipate',
'contemplate', 'intend', 'plan', 'believe', 'continue' and 'estimate' and
variations of such words or similar expressions. These forward-looking
statements are based on our current views and assumptions and are subject
to risks and uncertainties. You should not place undue reliance on these
forward-looking statements. Actual results and trends may differ materially
from those reflected in our forward-looking statements. This could result
from a variety of factors, such as actual customer orders received by
AIXTRON, the level of demand for deposition technology in the market, the
timing of final acceptance of products by customers, the condition of
financial markets and access to financing for AIXTRON, general conditions
in the market for deposition plants and macroeconomic conditions,
cancellations, rescheduling or delays in product shipments, production
capacity constraints, extended sales and qualification cycles, difficulties
in the production process, the general development in the semi-conductor
industry, increased competition, fluctuations in exchange rates,
availability of public funding, fluctuations and/or changes in interest
rates, delays in developing and marketing new products, a deterioration of
the general economic situation and any other factors discussed in any
reports or other announcements filed by AIXTRON with the U.S. Securities
and Exchange Commission. Any forward-looking statements contained in this
document are based on current expectations and projections of the executive
board and on information currently available to it and are made as at the
date hereof. AIXTRON undertakes no obligation to revise or update any
forward-looking statements as a result of new information, future events or
otherwise, unless expressly required to do so by law.
End of Corporate News
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23.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: AIXTRON SE
Kaiserstr. 98
52134 Herzogenrath
Germany
Phone: +49 (241) 8909-444
Fax: +49 (241) 8909-445
E-mail: invest(at)aixtron.com
Internet: www.aixtron.com
ISIN: DE000A0WMPJ6, US0096061041
WKN: A0WMPJ
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart;
Terminbörse EUREX
End of News DGAP News-Service
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Datum: 23.05.2013 - 07:30 Uhr
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