news digest ♦ Equipment and Materials
share of € 0.79 (2010: € 1.93). Dividend proposal
Aixtron’s Executive and Supervisory Boards will propose to the shareholders’ meeting in May 2012 that a dividend of € 25.4 million or € 0.25 per share (€ 60.7 million or € 0.60 in 2010) will be distributed for the fiscal year 2011. This would result in a pay- out ratio of 32% based on the group net income (2010: 32%), leaving the previous dividend policy unchanged.
Management Review
Despite the current market conditions, Aixtron Management remains convinced that the development of a sustainable LED lighting industry will follow this temporary period of uncertainty.
Paul Hyland, President & Chief Executive Officer at Aixtron, comments, “However we look at 2011, it was certainly an extraordinary year by any standard. We were still delivering strong revenues in the first half of the year, whereas in the second half, the market environment changed dramatically, resulting in a abrupt reduction in demand for MOCVD systems. We have made the necessary adjustments to our order book and inventory and executed immediate cost saving measures, including headcount reductions, without jeopardising our ability to quickly respond to an uptick of demand or diluting our R&D focus.”
Commenting on the quality of Aixtron’s ability to cope with such volatility and to remain a leading player in the industry, Hyland continues, “Our 2011 full year result still underlines the benefit of the Company’s flexible business model and stable financial position which has enabled us to effectively cope with these severe market fluctuations, whilst maintaining our commitment to strategic investments in research and development. Our substantial multi-year investment program is not exclusively limited to the development of next generation LED manufacturing tools. We are also focusing on the development of new technologies for other end markets we believe we can address with the expertise that we have within Aixtron.”
In summary, Hyland says, “In the short term, we believe that the next substantial investment cycle will be triggered by MOCVD demand from the
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www.compoundsemiconductor.net March 2012
With currently very limited order visibility, it is far more difficult than in previous years to provide a full year guidance. However, Management believes that 2012 looks set to be a transitional year between LED investment cycles with potentially lower revenues. Consequently, although unable to offer a precise revenue and EBIT margin guidance at this point in time, Management anticipates remaining EBIT profitable in 2012. Aixtron Management will present a full year revenue and EBIT forecast as and when visibility improves.
A conference call audio replay or a transcript of the conference call will be available at http://
www.aixtron.com, section “Investors, Reports/ Presentations”, following the conference call on March 1st
2012.
Keith Jackson joins Veeco’s Board of Directors
The semiconductor industry veteran has previously worked for Fairchild Semiconductor and Tritech Microelectronics
Keith Jackson, 56, currently serves as President, Chief Executive Officer (CEO) and Director of ON Semiconductor, a global supplier of high performance silicon solutions for energy-efficient electronics.
ON Semiconductor recently reported annual revenues of approximately $3.4 billion, and has 20,000 worldwide employees.
John R. Peeler, Veeco’s Chief Executive Officer, commented, “Keith brings a strong technology
emerging LED lighting market. We continue to see very encouraging signals in the form of increasingly proactive governmental engagement and clear market preparation and positioning activities from significant industry players, specifically targeting the LED lighting opportunity. The mid- to long-term prospects for the LED industry remain excellent, particularly in view of the increasing worldwide acceptance of the environmental and cost benefits that come with using LED technology for general lighting applications.”
Outlook
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