© Aixtron Business | July 26, 2017
Aixtron: Revenues and order intake continued to increase in Q2/2017
Total order intake including spares and service in H1/2017 came to EUR 128.5m, 34 percent higher than in the previous year (H1/2016: EUR 95.5m), reports deposition equipment manufacturer Aixtron.
Sequentially, order intake improved by 8 percent to EUR 66.6m Q1/2017: EUR 61.9m). This development was mainly driven by improved demand for Metal Organic Chemical Vapor Deposition (MOCVD) systems for VCSEL (Vertical-Cavity Surface-Emitting Laser), Red-Orange-Yellow (ROY) und specialty LEDs as well as power electronics and Chemical Vapor Deposition (CVD) systems for the production of flash memory applications. As of June 30, 2017, equipment order backlog totaled EUR 93.4m, a 7 percent increase on the figure of EUR 87.6m as of March 31, 2017 (June 30, 2016: EUR 86.2m). The majority of the backlog is due for shipment in 2017. Total revenues for H1/2017 increased to EUR 114.1m (H1/2016: EUR 55.5m) year-on-year while also improving sequentially in a quarterly comparison (Q2/2017: EUR 60.6m; Q1/2017: EUR 53.6m). Free cash flow of EUR 40.3m in H1/2017 was up EUR 81.3m on the previous year (H1/2016: EUR -41.0m). It also includes positive figures in two consecutive quarters (Q2/2017: EUR 7.0m; Q1/2017: EUR 33.3m) which was mainly attributable to the collection of receivables as well as advanced payments received from customers. Cash and cash equivalents (including cash deposits with a maturity of more than 90 days) increased to EUR 197.1m as of June 30, 2017, as against EUR 193.6m as of March 31, 2017. Aixtron CEO Kim Schindelhauer comments: “In H1/2017, the positive development in order intake has continued and will result in improved revenues. Therefore, we have decided to raise our 2017 full year guidance for order intake and revenues. In addition, we have stepped forward in focusing on our core business in the first half of 2017 with the sale of our ALD/CVD business to Eugene Technologies, by freezing our TFOS and TFE activities, by founding our 100 percent subsidiary company APEVA SE in order to spin-off our OLED activities. We are also pleased that Dr. Felix Grawert will join us as member of the Executive Board by August 14, 2017 which means that we have successfully completed the majority of tasks concerning the realignment of AIXTRON in H1/2017. Considering all these facts, AIXTRON is on track to return to profitability in 2018.” Guidance Aixtron management now expects for fiscal year 2017 to achieve revenues and an order intake between EUR 210 and 230 million. However, the company is not guiding on EBITDA, EBIT and net result for fiscal year 2017. A positive free cash flow in 2017 and a positive EBIT for 2018 is expected.
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