Aixtron's Q1/2018 revenues and order intake up

Dr. Bernd Schulte, President of Aixtron SE, comments: "We are pleased with the good start into the new fiscal year. Q1/2018 was Aixtron's strongest first quarter since 2011, with further increases in revenues and order intake, as well as in order backlog, enabling us to confirm the guidance for 2018 issued in February. We expect both revenues and EBIT to be close to the upper end of the corresponding range. Aixtron benefits from the robust demand for MOCVD tools for optoelectronics and power electronics as well as the successful realignment of its product portfolio". "Aixtron currently has a very good market position in laser and specialty LED applications as well as promising equipment technologies for power electronics. With our comprehensive roadmap for technology and product development, we ensure the continuous, market-oriented further development of our MOCVD systems for optoelectronics as well as the improvement of our offering in the field of power electronics. In the medium term, we expect power electronics based on gallium nitride and silicon carbide in particular to offer significant potential for the Company," adds Dr. Felix Grawert, President of Aixtron.

• Equipment order backlog increased to EUR 114.9m as of March 31, 2018, an increase of 31% year-on-year and 6% year-on-year compared to December 31, 2017.
• The continued positive development in order intake and order backlog was also reflected in revenues, which rose 16% year-on-year as well as 15% sequentially to EUR 62.4m in Q1/2018.
• Gross profit and gross margin improved both year-on-year and sequentially in the first quarter of 2018.
• Operating result (EBIT) in Q1/2018 improved year-on-year to EUR 7.9m.
• Net profit in Q1/2018 rose to EUR 12.3m. In addition to the positive business and cost development, the capitalization of deferred taxes in the amount of EUR 5m had a positive effect (Q1/2017: 0; Q4/2017: EUR 2.3m).
• EBIT as well as net profit in Q4/2017 were significantly influenced by the positive effects of the sale of the ALD/CVD product line in the amount of EUR 23.9m.

Based on the results for the first three months of the fiscal year 2018 and the internal assessment of the development of demand, Aixtron Management confirms its 2018 full year guidance given in February 2018. For fiscal year 2018, the Management expects revenues and order intake to range between EUR 230 and 260 million. The gross margin is expected to be between 35 and 40% and EBIT to come in at 5 to 10% of revenues. Operating cash flow for 2018 as a whole is expected to be positive, but lower than in 2017.