The Principal activity
of the Group is the production of machinery to manufacture compound
using the MOCVD process, a process in which compound gases are
to a rotating wafer. The machines are used to produce semiconductors
are utilised in LEDs, laser, solar cells and cellular phones. It is
in applications such as interior lighting, automotive, data
and space technology. The Group has subsidiaries in Sweden, the UK and
February 2017 | Finance news
AIXTRON: Financial targets achieved in 2016
Positive net income in Q4/2016 / Full year negative due to ongoing high
research and development costs / Order Intake and Equipment Order
Backlog increase significantly
AIXTRON SE (FSE: AIXA; OTC: AIXNY), a leading provider of deposition
equipment to the semiconductor industry, today announced its financial
results for fiscal year 2016 and the fourth quarter 2016.
Following a strong second half, AIXTRON met its guidance published at
the beginning of the year. At EUR 196.5 million, total revenues for
2016 virtually matched the previous year’s figure (2015: EUR 197.8m),
while Q4/2016 revenues came to EUR 89.8m (Q3/2016: EUR 51.2m). This
figure, which represents the highest quarterly revenues since 2011, was
due to a high volume of planned system shipments. The largest
contributions came from production systems for LED, telecom and
optoelectronics, as well as for the silicon industry.
EBITDA in 2016 rose year-on-year by 52% (2016: EUR -7.9m; 2015: EUR
-16.4m). This development was driven by the strong fourth quarter of
2016 (Q4/2016: EUR 12.5m; Q3/2016: EUR -0.4m) for which a positive EBIT
and net result of EUR 7.9m and EUR 6.4m respectively were also posted.
As expected, overall EBITDA in H2/2016 came in positive at EUR 12.1m.
The free cash flow of EUR -42.9m in 2016 improved by EUR 14.4m, or 25%,
on the previous year (2015: EUR -57.3m). The negative free cash flow of
EUR -4.9m in the fourth quarter of 2016 (Q3/2016: EUR 3.0m) was mainly
due to high shipment volumes at the end of the year. A large part of
the resultant increase in outstanding receivables has converted into
cash in Q1/2017.
Total order intake in 2016 came to EUR 225.1m, 35% higher than in the
previous year (2015: EUR 167.1m) and the highest figure in five years.
In Q4/2016, total order intake of EUR 60.5m was slightly down on the
previous quarter but significantly higher than in the previous year
(Q3/2016: EUR 69.0m, Q4/2015: EUR 31.3m). This was due to consistently
high demand for LED, telecom and optoelectronic applications, including
the sale of AIX R6 inventories.
As of December 31, 2016, the equipment order backlog totaled EUR 78.1m,
a 67% increase on the figure of EUR 46.7m at the beginning of the year
(December 31, 2015: EUR 42.9m; September 30, 2016: EUR 104.0m).