AIXTRON SE

Latest Results (10.01.2025):

Revenue Performance

In the third quarter of 2024, AIXTRON SE reported revenues of EUR 156.3 million, which represents a 5% decrease compared to the same quarter in 2023 when revenues were EUR 165.0 million. For the first nine months of 2024, the company achieved total revenues of EUR 406.4 million, slightly down from EUR 415.7 million in the same period of the previous year. The decline in revenue is attributed to the postponement of a larger project shipment to the fourth quarter at the customer's request.

Order Intake and Backlog

AIXTRON SE experienced a significant increase in order intake during the third quarter of 2024, totaling EUR 143.5 million, a 21% rise from EUR 118.5 million in Q3 2023. The order intake for the first nine months of 2024 reached EUR 439.5 million, slightly above the previous year's level of EUR 436.2 million. The equipment order backlog as of September 30, 2024, was EUR 384.5 million, marking a 4% increase from EUR 368.0 million at the same time last year.

Profitability Metrics

The gross profit for AIXTRON SE in the third quarter of 2024 was EUR 67.1 million, with a gross margin of 43%, down from EUR 76.2 million and a 46% margin in Q3 2023. For the first nine months of 2024, the gross profit was EUR 160.0 million, reflecting a 12% decrease from EUR 180.8 million in the same period of 2023. The decline in gross profit is primarily due to a change in the product mix, including a higher proportion of lower-margin LED systems.

Earnings and Cash Flow

AIXTRON SE's operating result (EBIT) for the first nine months of 2024 was EUR 60.3 million, with an EBIT margin of 15%, compared to EUR 93.4 million and a 22% margin in the same period of 2023. The profit for the period was EUR 52.9 million, down from EUR 83.5 million in 2023. However, the company reported a significant improvement in cash flow from operating activities, with EUR 28.2 million in the first nine months of 2024, compared to a negative cash flow of EUR -65.6 million in the previous year.

Financial Position

As of September 30, 2024, AIXTRON SE held cash and cash equivalents, including other current financial assets, totaling EUR 78.1 million, a decrease from EUR 181.7 million at the end of 2023. The company's equity ratio improved to 79% as of September 30, 2024, up from 75% at the end of 2023. Despite the reduced cash position, the company has made significant investments in its innovation center and the expansion of production capacity in Italy.