...has become Aixtron :)

I am now fully invested up to 2.5k and have cracked a big milestone!

Had the plan to do it at 35 and not at 37, but oh well ;)

Tonight I'll have a single malt (any whisky drinkers here?)...

And hopefully the spare parts for the motorcycle / Moto Guzzi will arrive (any old iron fans here?)

LG and have a successful week!

$AIXA (-1.64%) particularly interesting right now.

The last quarterly results were positive, with the Annual General Meeting in a few days.

$AIXA (-1.64%)

The world of integrated photonics is facing a huge upheaval. AIXTRON and SMART Photonics are driving the future of this technology with their collaboration. The new G10-AsP system will take production capacity to a new level. This investment marks a decisive step in SMART Photonics' innovation strategy.

AIXTRON SE will deliver the new G10 AsP system to SMART Photonics in the Netherlands to increase its production capacity and performance.

The market for InP Photonic Integrated Circuits (PICs) is expected to grow at a compound annual growth rate of 14% until 2027, driven by trends such as 5G/6G telecoms, healthcare and AI.

SMART Photonics, founded in 2012 with Eindhoven University of Technology, is an independent InP-PIC foundry based in Eindhoven and a long-standing customer of AIXTRON.

The G10-AsP system offers up to four times better on-wafer uniformity and is fully automated, enabling consistent and reliable production.

SMART Photonics' purchase of the G10 AsP system underscores its confidence in AIXTRON's technology to accelerate time-to-market for innovative products.

SMART Photonics sees the purchase as a major step towards accelerating its innovation strategy and positioning itself at the forefront of the integrated photonics industry.

The next important date, 28th Annual General Meeting of AIXTRON SE, at AIXTRON is on May 15, 2025.

https://www.wallstreet-online.de/nachricht/19309978-smart-photonics-expandiert-aixtron-g10-asp-produktion

$AIXA (-1.64%) 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

$AIXA (-1.64%)

AIXTRON SE revolutionizes the production of photonic circuits with the delivery of the G10-AsP system to Nokia, paving the way for the future of high-speed communications.

AIXTRON SE delivers the G10 AsP system to Nokia for the production of 6-inch Indium Phosphide (InP) wafers.

Advances in the development of photonic integrated circuits (PICs), which are critical for high-speed data communications and 5G.

The global market for PICs will grow from USD 12 billion in 2023 to USD 41 billion by 2031, with a compound annual growth rate of around 16%.

Nokia's PICs integrate multiple optical functions on one chip, reducing cost, space and power consumption while improving performance.

The G10-AsP system offers up to four times

uniformity on the wafer and enables efficient operation through automated wafer loading.

The transition to 6-inch wafers improves production capacity and reduces unit costs, which is important for sectors such as telecommunications and automotive.

AIXTRON's next important date, publication of the quarterly financial report (Q1 reporting date), is April 30, 2025.

https://www.wallstreet-online.de/nachricht/19174262-aixtron-g10-asp-photonik-treibt-nokias-innovationen-voran

A small and final additional purchase in $AIXA (-1.64%) .

Extremely beaten up, a bit too much in my opinion.

Only intended for a short holding period.

Edit: through @SemiGrowth I just saw from his post that they actually generate a gross margin of 41%.

I might stay in here longer after all

$AIXA (-1.64%) Reports FY 2024

Sales: 633M vs 625M expected 🟢

EBIT: 131M vs 137M expected 🔴

Income: 106M vs 117M expected 🔴

Outlook for FY25:

Sales: 565M vs 566M expected 🟡

EBIT: 113M vs 121M expected 🔴

Outlook for Q1 FY25:

Sales: 100M vs 126M expected 🔴

The following things are mentioned:

• Competitive position and market shares in key sectors expanded 🟢
• Difficult environment 🔴
• Power electronics for AI (making the move here) $IFX (-0.97%) move) 🟢
• Record quarter with 227M sales 🟢
• Bookings have fallen by -7% to 596M, Q4 2023 to 2024 even by -23% 🔴
• Order backlog thus falls to 290M 🔴
• Weakening demand due to cutbacks in customer investments 🔴
• Decline in gross margin from 44% to 41% 🔴
• It is emphasized that a lot is now being invested in R&D to play the next cycle
• Reduction of the dividend to 15 cents (from 40 cents) is justified by the build-up of a cash position
• Gross margin to remain constant in the current FY2025 (41-42%) 🟡
• The balance sheet looks more solid, with less debt and a higher equity ratio 🟢
• Inventories have also been reduced, resulting in a positive cash flow 🟢

"We will use the current phase of market consolidation to optimally prepare for the next growth phase of the semiconductor cycle," says Dr. Felix Grawert, Chief Executive Officer of AIXTRON SE

"The year 2024 has developed significantly differently than originally expected. Nevertheless, we are continuing to invest consistently in our future. Our new innovation center will further strengthen our research and development activities. The focus of our activities in 2025 is now on strengthening profitability and rebuilding a strong cash position," says Dr. Christian Danninger, Chief Financial Officer of AIXTRON SE.

Conclusion:

The figures were pretty much as expected and the revenue outlook was also in line with expectations. However, profitability has suffered and will continue to do so next year. The difficult market environment was known. The dividend cut sounds sensible, as do the investment plans. However, the order backlog does not look so good, as the order backlog is only sufficient for half a year. However, the balance sheet and the reduction in inventories are positive. I don't really see the share price loss as justified. What do you think about the development and would you buy now? @Tenbagger2024 What are you doing with Aixtron?

FRANKFURT (dpa-AFX) - Technology stocks had a hard time on Monday in view of the weakness of the Nasdaq before the weekend. The Stoxx Europe 600 Technology sector index extended its correction particularly sharply, with semiconductor stocks in particular coming under pressure.

STMicro $STMPA (-1.09%)

lost around three percent following a downgrade by the experts at TD Cowen and is back at its November low. Infineon

look better overall, but also lost 2% at the end of the Dax. Aixtron $AIXA (-1.64%) sank over 7% in the MDax.

Analyst Tim Wunderlich from Hauck Aufhäuser Investment Banking had canceled his buy recommendation for Aixtron. His price target of 13.80 euros is still below the current Xetra level. Sluggish consumer demand, political risks with regard to the development of electromobility and high inventories in the supply chains are likely to continue to weigh on demand for silicon carbide (SiC) power semiconductors in 2025, he wrote./ag/mis

Source: dpa-Afx

Although I don't think this news is new. And should slowly be priced into the share price. What do you think, will there be a further downhill slide?

BÖRSE ONLINE – Seit 1987 unterstützt BÖRSE ONLINE jede Woche Anleger bei ihren Investment-Entscheidungen. Zentrale Themen der Berichterstattung sind fundamentale Markt- und Aktienanalysen, Charttechnik, Handelsstrategien sowie verschiedene Tradingmodelle.

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