Aixtron Reports Revenues Down Sharply, But Recent Orders and Market Consensus Point to Improvement in 2013

Aixtron of Aachen, Germany reported revenues that are down sharply for 2012
compared to 2011. The company announced revenues of EUR 227.8m and an EBIT loss
of EUR -132.3m a decline of 68 percent for the fiscal year 2012. However, the
company points to signs of market stabilization and an increasing consensus on
the market’s improvement. Just two days prior, Aixtron announced multiple Crius
II-L system orders from Taiwan firm, Formosa Epitaxy.

The company says that while there was a slow recovery of revenues, order
intake for the year was virtually flat Aixtron says this reflects a reluctant
investment attitude by customers and a continuation of macroeconomic
uncertainty. Despite an improving market consensus on the potential outlook for
the back end of 2013, Aixtron says its management cannot offer a precise
revenue and EBIT margin guidance for the year, due to the prevailing low

The company reported that in the third quarter of 2012 long-term customer
Formosa Epitaxy Inc. (FOREPI) of Taiwan, placed a new order for multiple CRIUS
II-L MOCVD production systems in a 69×2-inch configuration. According to
FOREPI, the systems will be used for the manufacturing of ultra-high brightness
(UHB) GaN-based blue and white LEDs. All the CRIUS II-L systems will be
delivered with Aixtron