AIXTRON SE, a world's leading manufacturer of MOCVD equipment based in Germany, has reported stable financial results and orders in the second quarter of 2012. According to the report, the company has achieved a sequential improvement of its financial results with EUR 46.1m in revenues and an EBIT of EUR -16.5m.
Q2/2012 revenues have increased by 10% to EUR 46.1m compared to the previous quarter’s EUR 42.0m. For the total reporting period of H1/2012, AIXTRON recorded revenues of EUR 88.1m, a decrease of EUR 292.9m, or 77%, compared to EUR 381.0m for H1/2011.
The gross margin increased by 7 percentage points from 25% in Q1/2012 to 32% in Q2/2012, mainly due to a favorable product mix and currency effects. The H1/2012 gross margin was reported at 28%, down from 48% in the same period last year.
The EBIT remained negative, but improved by 10% sequentially, from EUR -18.3m in Q1/2012 to EUR -16.5m in Q2/2012. The H1/2012 EBIT decreased on a year-on-year comparison by 127%, from EUR 129.2m in H1/2011 to EUR -34.7m in H1/2012. This development was principally due to the significantly reduced gross profit, resulting from the lower sales volumes, coupled with an increasing absolute operating cost base, mainly driven by higher investments into R&D and currency effects.
In line with expectations, AIXTRON’s order intake volume remained stable during the second quarter of this year. New orders amounted to EUR 30.0m and were broadly in line with the Q1 level of EUR 31.5m, possibly marking the trough level of the current investment cycle. The total H1/2012 order intake of EUR 61.5m compares to a H1/2011 level of EUR 432.5m.
Encouragingly, AIXTRON is seeing its non-LED business gaining traction. The Company recorded an increase in silicon equipment orders during H1/2012, strongly influenced by a major order placed by a leading Korean DRAM manufacturer for AIXTRON’s next generation QXP-8300 ALD deposition tool. The Company also recorded several orders from the high potential power electronics market for both R&D and production tools.
