DGAP-News: AIXTRON Revenues&EBIT on course to meet 2011 guidance / Q1/2011 Order Intake remains high / 65% of Q1/2011 orders are for new-generation systems
(firmenpresse) - DGAP-News: AIXTRON SE / Key word(s): Quarter Results/Forecast
AIXTRON Revenues&EBIT on course to meet 2011 guidance / Q1/2011
Order Intake remains high / 65% of Q1/2011 orders are for
new-generation systems
28.04.2011 / 07:27
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AIXTRON Revenues&EBIT on course to meet 2011 guidance
Q1/2011 Order Intake remains high
65% of Q1/2011 orders are for new-generation systems
Aachen, Germany, April 28, 2011 - AIXTRON SE (ISIN DE000A0WMPJ6,
DE000A1H30A0), a worldwide leading provider of deposition equipment to the
semiconductor industry, today announced the consolidated financial results
for the first quarter of 2011.
Key Financials
2011 2010 2011 2010Financial Highlights
(in EUR million) Q1 Q1 Q1-Q1 Q1 Q4 Q1-Q4
Revenues 205.4 154.5 33% 205.4 224.7 -9%
Gross profit 104.2 77.9 34% 104.2 117.3 -11%
Gross margin 51% 50% 1 pp 51% 52% -1 pp
Operating result (EBIT) 74.9 46.4 61% 74.9 86.0 -13%
EBIT margin 36% 30% 6 pp 36% 38% -2 pp
Net result 52.3 31.8 64% 52.3 61.6 -15%
Net result margin 25% 21% 4 pp 25% 27% -2 pp
Net result per share - basic
(EUR) 0.52 0.32 63% 0.52 0.62 -16%
Net result per share - diluted
(EUR) 0.51 0.31 65% 0.51 0.60 -15%
Equipment order intake 210.3 168.5 25% 210.3 204.0 3%
Equipment order backlog (end of
period) 321.1 229.9 40% 321.1 274.8 17%
In the first quarter of 2011, AIXTRON's revenues increased by 33% year on
year to EUR 205.4m (Q1/2010: EUR 154.5), driven by a continuing high level
of demand for LED deposition equipment. Sequentially, Q1/2011 revenues
decreased slightly compared to Q4/2010, in line with customer delivery
requirements (Q4/2010: EUR 224.7m).
As a result of the positive revenue development, the Company's gross profit
increased by 34% year on year, to EUR 104.2m in Q1/2011 (Q1/2010: EUR
77.9m), translating to a gross margin of 51%, 1 percentage point higher
than in Q1/2010.
The higher gross margin, coupled with lower operating expenses, lifted
AIXTRON's EBIT year on year by 61%, to EUR 74.9m in Q1/2011, from EUR 46.4m
in Q1/2010. Relative to last year's Q1 EBIT margin, this was 6 percentage
points higher, at 36% (Q1/2010: 30%).
Net profit came in at EUR 52.3m, or 25% of revenues (Q1/2010: EUR 31.8m or
31%).
The Q1/2011 equipment order intake increased year on year by 25% to EUR
210.3m. The ongoing demand for AIXTRON systems reflects the continuation of
strong demand from LED backlighting manufacturers and, importantly, rising
early demand from the lighting applications industry. With 65% of these
orders being for AIXTRON's latest generation G5 and CRIUS(R) II equipment,
the customer adoption rate (Q4/2010: 55%; Q3/2010: 29%; Q2/2010: 8%) is
faster than previous generation system introductions.
Management Review
Paul Hyland, President&Chief Executive Officer at AIXTRON, comments on
the Q1/2011 results:
'Whilst the first quarter of 2011 has been a testing time for many in the
global community, we are very pleased to still be able to report a
continuation of the high level of demand for our systems, and we remain
confident of achieving the 2011 guidance we issued in March of EUR 800-900m
revenues and an EBIT margin of 35%.
With 54% of revenues and 65% of the orders received in Q1/2011 being for
our new-generation systems, the rapid rate of customer adoption is a
particularly encouraging indicator that the transition period between
G4/CRIUS(R) and G5/CRIUS(R) II is coming to an end, and bodes well for
future business development going forward.
Moreover, momentum in the development of lighting applications continues to
increase, supported by Government and public opinion on energy-saving
technologies. Recent events in Japan have only intensified that focus.
AIXTRON is in an excellent position to deliver against a highly credible
and proven roadmap to supply the industry with cost effective production
solutions. Those solutions are required to support what will inevitably
become the third and biggest LED investment cycle for energy efficient
lighting applications in the years ahead.'
Outlook
AIXTRON entered the year with a very solid opening order backlog of EUR
302.3m, which by the end of Q1/2011 has grown to EUR 321.1m. This
represents a solid, reliable foundation for the rest of the year and
consequently, AIXTRON Management confirms its revenue guidance for 2011 of
EUR 800 million to EUR 900 million and an operating margin of circa 35%.
Financial Tables
Our Q1/2011 results presentation as well as all consolidated financial
statements (statement of financial position, income statement, cash flow
statement, 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 of 2011.
Investor Conference Call
AIXTRON will host a financial analyst and investor conference call on
Thursday, April 28, 2011, 3:00 p.m. CEST (6:00 a.m. PDT, 9:00 a.m. EDT) to
review the first quarter 2011 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) 247501-899 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(at)aixtron.com
For further information on AIXTRON SE (FSE: AIXA, ISIN DE000A0WMPJ6 /
DE000A1H30A0; 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.
End of Corporate News
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Language: English
Company: AIXTRON SE
Kaiserstr. 98
52134 Herzogenrath
Deutschland
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
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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121708 28.04.2011
Datum: 28.04.2011 - 07:27 Uhr
Sprache: Deutsch
News-ID 33885
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