Corporate | 13 March 2008 07:30
AIXTRON AG / Final Results/Dividend
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
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AIXTRON reports full-year results for 2007
Revenues +25% to EUR 215m;EBIT up to EUR 20.6m,Net Result up to EUR 17.3m
Order Intake up to EUR 86.9m in Q4
Order Backlog up to EUR 132.0m
2007 Dividend Proposal: EUR 0.07 per Share
Guidance for 2008: EUR 270-300m Revenues, 10-12% EBIT Margin
Aachen, Germany, March 13th, 2008 – AIXTRON AG, worldwide leading provider
of deposition equipment to the semiconductor industry, today announced
financial results for fiscal year 2007, ended December 31, 2007.
Key Financials
2007 2006 2006=>2007
(million €)
Revenues 214.8 171.7 25%
Gross profit 85.0 63.4 34%
Gross margin, % revenues 40% 37% 3 p.p.
EBIT 20.6 5.7 262%
EBIT, % revenues 10% 3% 7 p.p.
Net result 17.3 5.9 195%
Net result, % revenues 8% 3% 5 p.p.
Net result per share - basic (€) 0.20 0.07 186%
Net result per share - diluted (€) 0.19 0.07 171%
2007 Dividend Proposal per Share (€) 0.07 - -
Free cash flow 22.3 15.6 43%
Equipment Order Intake 247.7 178.0 39%
Equipment Order Backlog (End of Period) 132.0 85.1 55%
Operational Highlights
In fiscal year 2007, AIXTRON delivered total revenues of EUR 214.8m, a 25
percent increase year on year (2006: EUR 171.7m). 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 3 percentage points year on year,
culminating in a 40 percent gross margin performance by the end of 2007.
A relative decrease of cost of sales combined with lower operating expenses
allowed the Operating Profit (EBIT) to increase by 262% year on year to EUR
20.6m, representing an EBIT Margin of 10%. 2007 net result improved by 193%
to EUR 17.3m during fiscal year 2007.
Q4 equipment order intake was EUR 86.9m, a further improvement on the
exceptionally high Q3 figure. Opening order backlog for fiscal year 2008 is
EUR 132.0m, providing a solid platform for 2008.
AIXTRON AG, the parent company of the AIXTRON Group, recorded a net
accumulated income of EUR 12.3m (2006: 2.8m). Due to the improved trading
environment as a backdrop, Executive Board and Supervisory Board will
recommend to the Shareholders’ Meeting on May 14th, 2008 the payment of a
dividend of EUR 0.07 per share resulting in accumulated payments of EUR
6.3m to the shareholders. This payment of the dividend is subject to
approval of the shareholders.
Management Review
Paul Hyland, President & Chief Executive Officer at AIXTRON, comments:
'I am delighted being able to report these very positive figures for the
fiscal year 2007.
Despite the continuing weakness and volatility of the US-Dollar, we were
able to hold the Gross Margin improvements made earlier in the year and
finish the year with a Gross Margin performance close to our target of 40%.
Encouraging as these very positive developments are, when considering our
2008 full-year guidance, we have taken into account the potential risks in
the current economic environment. Despite these climatic considerations, I
remain very confident that 2008 will be another year of growth and that
when viewed over the next 5 years, the outlook looks very positive for the
market applications we serve and the technology we deliver with our
equipment.'
Outlook
Based on a solid order backlog as of January 1st, 2008 and the currently
strong demand for AIXTRON’s deposition equipment, especially from the
compound semiconductor industry, the company expects revenues of 270-300m
and an EBIT margin of 10-12% for fiscal year 2008.
Investor Conference Call
AIXTRON will host a financial analyst and investor conference call on
Thursday, March 13th, 2008, 3:00 p.m. CET (7:00 a.m. PDT, 10:00 a.m. EDT)
to review the full-year 2007 results. From 2:45 p.m. CET (6:45 a.m. PDT,
9:45 a.m. EDT) you may dial in to the call at +49 (30) 86871–490 or +1
(212) 444-0296. 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
For the first time, 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 on www.aixtron.com, section 'Investors', subsection
'Financial Data', subsection 'Reports', as part of AIXTRON’s Group report
for the full year 2007 ended December 31, 2007.
Contact:
Guido Pickert
Investor Relations and Corporate Communications:
T: +49-241-8909-444
F: +49-241-8909-445
invest@aixtron.com
For further information on AIXTRON AG (FSE: AIX, ISIN DE0005066203; 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
13.03.2008 Financial News transmitted by DGAP
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Language: English
Issuer: AIXTRON AG
Kackertstr. 15-17
52072 Aachen
Deutschland
Phone: +49 (0)241 8909-444
Fax: +49 (0)241 8909-40
E-mail: invest@aixtron.com
Internet: www.aixtron.com
ISIN: DE0005066203, US0096061041
WKN: 506620
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart;
Terminbörse EUREX; Foreign Exchange(s) Nasdaq
End of News DGAP News-Service
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