AIXTRON H1 Loss Narrows, Revenue Down 31%; Recommends Takeover Offer

(RTTNews) - AIXTRON SE (AIXG) reported that the net result for first half of 2016 was a loss of 26.6 million euros compared to a loss of 27.6 million euros, previous euros. Net result per share was a loss of 0.23 euros compared to a loss of 0.25 euros. Operating result (EBIT) was a loss of 25.9 million euros compared to a loss of 26.7 million euros.

First-half revenues were at 55.5 million euros, down by 31% year-on-year. The company said this reflects lower demand from GaN LED- and Silicon applications, particularly in first quarter of 2016. Total order intake decreased by 6% to 95.5 million euros.

The Management of AIXTRON expects stronger revenues in the second half of 2016 compared to the first half. Consequently, Management reiterated the full year 2016 revenue guidance given in February 2016. Management expects to achieve for fiscal year 2016 revenues between 170 and 200 million euros. Total 2016 order intake is expected to be between 180 and 200 million euros. Before transaction related impacts, EBITDA, EBIT, net result and free cash flow are expected to improve slightly compared to 2015 but to remain negative for the full year 2016.

Due to uncertainties in terms of investment requirements for certain product groups, potential restructuring costs or consequences from the transaction, Management of AIXTRON will review EBITDA development for 2017.

The Executive and Supervisory Boards of AIXTRON recommended accepting the Takeover Offer by Grand Chip Investment GmbH.