AIXTRON AG, worldwide leading provider of deposition equipment
to the semiconductor industry, today announced financial results
for fiscal year 2008, ended December 31, 2008.
Key Financials
� � � 2008 2007 2007=>2008 (million EUR) Revenues 274.4 214.8
28% Gross profit 112.9 85.0 33% Gross margin, % revenues 41% 40%
1pp EBIT 32.5 20.6 58% EBIT, % revenues 12% 10% 2pp Net result 23.0
17.3 33% Net result, % revenues 8% 8% - Net result per share -
basic (EUR) 0.26 0.20 30% Net result per share - diluted (EUR) 0.25
0.19 32% Dividend / Dividend Proposal per Share (EUR) 0.09 0.07 29%
Equipment Order Intake 250.9 247.7 1% Equipment Order Backlog (End
of Period) 105.0 132.0 (20%)
Operational Highlights
In fiscal year 2008, AIXTRON delivered total Revenues of EUR
274.4m, a 28 percent increase year on year (2007: EUR 214.8m). This
substantial increase was mainly due to higher sales of compound
semiconductor equipment, driven by rising demand for LED end-market
applications.
Reflecting the increasing percentage of new common platform
system revenues, paired with a favorable product mix, the Gross
Margin improved by 1 percentage point year on year, culminating in
a 41 percent Gross Margin performance by the end of 2008.
Scale effects and further enhancements of internal operating
efficiency allowed the EBIT to increase by 58% year on year to EUR
32.5m, representing an improved EBIT Margin of 12%. 2008 net result
rose by 33% to EUR 23.0m.
Q4 Revenue was exceptionally high at EUR 82.3m. However, Q4
Order Intake was lower at EUR 40.6m, in line with Management
expectations and guidance. The Opening Order Backlog for fiscal
year 2009, adjusted for risk, stands at EUR 105.0m, providing a
solid platform for 2009.
The Executive Board and Supervisory Board will recommend to the
Shareholders' Meeting on May 20th, 2009 the payment of a dividend
of EUR 0.09 per share, which would result in accumulated payments
of EUR 8.2m to shareholders. This payment of the dividend is
subject to shareholders' approval.
Outlook
The majority of AIXTRON's customers are reporting very limited
visibility in the currently unsettled environment, with many not
able to see beyond one month ahead. They have consequently become
more reluctant to make longer term purchasing commitments. This
lack of visibility impairs AIXTRON's own ability to give
comprehensive guidance for 2009 revenues and EBIT at this point.
That said, AIXTRON intends to remain profitable at an EBIT level,
which will be achieved once revenues reach EUR 170m for the year.
AIXTRON's management will elaborate on this guidance as soon as
visibility improves.
Management Review
Paul Hyland, President & Chief Executive Officer at AIXTRON,
comments: 'It is a matter of considerable satisfaction that,
despite the currently volatile environment, we have been able to
deliver a result within the range we gave as far back as March
2008.
Against softening demand and US-Dollar weakness, we were able to
hold the Gross Margin improvements made earlier in the year and
finish it with a Gross Margin performance in excess of our target
of 40%.
But unfortunately, we can pause only momentarily to celebrate
this exceptional performance by the whole AIXTRON team, in fact one
of the very best results in our quarter-century history. The
extraordinary financial and economic turmoil has already firmly
focused our minds on 2009 and beyond.
Looking into 2009, we start what will be a challenging year for
all industries, with many of the key boxes ticked: We have a very
strong market share position. We have a full product development
pipeline. We have a good cash position, carry no debt and our
balance sheet and our operational flexibility give us the
exceptional resilience needed in these circumstances.
We are confident of achieving our 2009 objective to come out of
this turbulent period stronger than we went into it. I remain
convinced that this crisis offers many opportunities for AIXTRON if
we can retain a positive and proactive attitude to the challenges
ahead.'
Investor Conference Call
AIXTRON will host a financial analyst and investor conference
call on Thursday, March 12th, 2009, 3:00 p.m. CET (7:00 a.m. PDT,
10:00 a.m. EDT) to review the full-year 2008 results. From 2:50
p.m. CET (6:50 a.m. PDT, 9:50 a.m. EDT) you may dial in to the call
at +49 (6958) 999 0797 or +1 (480) 248 5081. Both a conference call
audio replay and a transcript of the conference call will be
available at http://www.aixtron.com, section 'investors', following
the conference call.
Financial Tables
AIXTRON offers an interactive Annual Report on the Internet.
This service offers a number of extra functions, allowing a
convenient way to compile and download individual segments of
AIXTRON's Annual Report. Financial tables are also available as
downloads. All consolidated financial statements (balance sheet,
income statement, cash-flow statement, statement of changes in
equity) relating to this press release are available at
www.aixtron.com, section 'Investors', subsection
'Reports/Presentations', as part of AIXTRON's Group report for the
full year 2008 ended December 31, 2008.
For further information on AIXTRON AG (FSE: AIXA, ISIN
DE000A0WMPJ6; 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, Kackertstr. 15-17, 52072 Aachen, Germany
Phone: +49 241 8909 444, Fax: +49
241 8909 445, invest@aixtron.com
www.aixtron.com
Language: � English Issuer: AIXTRON AG Kackertstr. 15-17 52072
Aachen 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, Stuttgart, M�nchen, D�sseldorf; Terminb�rse
EUREX; Foreign Exchange(s) Nasdaq
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