Aixtron Q2 Profit Down, Orders Climb; Sees Strong Revenue Growth In Q3, Q4; Backs FY20 View

(RTTNews) - Aixtron SE (AIXG), a provider of deposition equipment to the semiconductor industry, reported Thursday that its second-quarter net result declined 55 percent to 3.3 million euros from last year's 7.3 million euros.

EBIT was 3.3 million euros, down 65 percent from 9.3 million euros a year ago. EBIT margin was 6 percent, down 9 percentage points from 15 percent last year.

Gross profit declined 12 percent, while gross margin was same as last year at 41 percent.

Revenues for the quarter fell 12 percent to 56.0 million euros from 63.3 million euros a year ago.

Order intake, however, climbed 56 percent to 69.6 million euros from last year's 44.7 million euros. Order backlog -Equipment only grew 42 percent from last year to 156.6 million euros.

The results reflected regional corona-related lockdowns, first in China and later in Europe and the US, which resulted in some delayed local installations.

Despite the Corona crisis, the company said it remains on track in the first half of 2020.

Looking ahead, based on the solid order backlog and the currently estimated low impact of the COVID-19 pandemic, AIXTRONs Executive Board confirmed its guidance for the full year 2020. The company still expects to receive orders and revenues of between 260 million euros and 300 million euros. The Company aims to achieve a gross margin of approximately 40 percent and an EBIT margin between 10 percent and 15 percent.

Bernd Schulte, President of AIXTRON SE, said, "In the second half of the year, our business should grow much more dynamically again. We expect revenues to grow strongly in the third quarter and then again in the final quarter."