$AIXA (+0.52%) reported Q1 2025
Sales: 112.5M vs 102M expected 🟢
EBIT: 3.3M vs 5M expected 🟡
Earnings: 5.1M vs 3.5M expected 🟡
Outlook for 2025
Sales: 565M vs 540M expected 🟢
Gross margin: 41.5%
EBIT: 113M vs 99M expected 🟢
Outlook for Q2 2025
Sales: 130M vs 115M expected 🟢
- Incoming orders at 132M and thus above sales and previous year
- Backlog increases to 310M (B2B still below 1)
- Aixtron sees demand mainly from Asia
- New production center for 300mm wafers has started operation
- Nokia acquired as new customer
- Cash flow significantly higher (35M) due to further inventory reduction. Here even FCF was achieved since ages
- Inventories fall further to 350M (PY 436M). Still too high, but good trend
- Headcount reduction leads to annual cost savings of 5M in the long term
- Equity ratio has risen to an incredible 87% (PY 76%)
- Aixtron does not see itself affected by the tariffs
"We are pleased with the start of the new year. The higher order intake compared to the previous year confirms that our product range is very well positioned, even in a challenging market environment. Additionally, the swift ramp-up of our new Innovation Center showcases AIXTRON's execution capabilities. The ability to process our own 300mm GaN wafers in the Innovation Center enables us to better support our customers in the future transition to the next wafer size. This will position us optimally for the next growth phase," says Dr. Felix Grawert, CEO of AIXTRON SE.
Aixtron summarizes the figures itself as "Strong in a soft environment".
I gave the company this quarter and next quarter to deliver and I have to say they did. It almost looks like the bottom is just behind us. Inventories are down, they have a solid order intake and new customers. Sales expectations are rising, FCF is positive