12. March 2009 | Finance News
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. ---------------------------------------------------------------------- AIXTRON reports full-year results for 2008 / Guidance achieved: Revenues EUR 274.4m (+28%) / EBIT EUR 32.5m (+58%), Net Result EUR 23m (+33%) / 2008 Dividend Proposal: EUR 0.09 per Share / Book to Bill 1:1 in 2008 / Only limited 2009 guidance possible: Company intends to remain EBIT positive Aachen, Germany, March 12, 2009 - 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 Financials2008 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. 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: 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 12.03.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- 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, München, Düsseldorf; Terminbörse EUREX; Foreign Exchange(s) Nasdaq End of News DGAP News-Service ---------------------------------------------------------------------------
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