Group expects wave of growth
Aixtron looks up – shares plunge downwards
February 29, 2024, 1:27 p.m
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Sales rose by a third, earnings by 50 percent – and yet investors expected even more. The shares of the chip system manufacturer Aixtron are going down sharply. Meanwhile, the MDAX company expects further significant growth.
The chip system manufacturer Aixtron sees itself continuing to grow after a jump in sales and profits last year. The board announced growth for 2024 as well as “strong sales growth” for 2025, as the company announced. However, investors expected more. The share temporarily fell by almost 22 percent and topped the list of losers in the MDAX small cap index.
Aixtron’s operating result in 2023 remained below market expectations, commented analyst Olivia Honychurch from the investment bank Jefferies. The same applies to the sales forecast for the current year.
Revenue rose by more than a third last year to almost 630 million euros. The operating result increased by 50 percent to almost 157 million euros. Net sales remained at 145 million euros, 45 percent more than in the previous year. The shareholders should participate in the growth with a dividend increased to 0.40.
The board expects that demand for Aixtron systems will continue to increase and that the company will remain on a growth path in 2024. He therefore expects sales of between 630 million and 720 million euros and an EBIT margin of around 24 to 26 percent. He announced revenues of between 100 million and 120 million euros for the first quarter. In addition, the board is also anticipating growth in 2025 – supported by the next “wave of growth” in power electronics.