Aixtron off to a good start in Q1
Revenues and order intake up, gross margin and profitability improved
Aixtron has announced its financial results for the first quarter 2018.
Order intake including spare parts and service improved in Q1/2018 to €78.6m, an increase of 27 percent over the previous year and 20 percent over the previous quarter. This positive order development is mainly due to the continued demand for MOCVD systems for laser applications such as VCSELs for 3D sensor technology or optical data transmission.
Equipment order backlog increased to €114.9m as of March 31, 2018, an increase of 31 percent year-on-year and 6 percent 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 percent year-on-year as well as 15 percent sequentially to €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 €7.9m.
Net profit in Q1/2018 rose to €12.3m. In addition to the positive business and cost development, the capitalisation of deferred taxes in the amount of €5m had a positive effect (Q1/2017: 0; Q4/2017: €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 €23.9m.
Cash flow from operating activities amounted to €-21.1m in the first quarter of 2018. This development is mainly due to planned payments in connection with the sale of the ALD/CVD product line in Q4/2017.
Cash and cash equivalents (including cash deposits with a maturity of more than 90 days) decreased to €223.2m as of March 31, 2018, compared to €246.5m as of December 31, 2017. The difference is also mainly due to planned payments in connection with the divested ALD/CVD product line and increased receivables due to a high number of deliveries of MOCVD systems at the end of the quarter.
