AIXTRON SE (AIXG) Reports Order Reduction from San'an Optoelectronics

AIXTRON SE (NASDAQ: AIXG) said in an SEC filing:

AIXTRON SE (ISIN DE000A0WMPJ6), one of the world's leading providers of deposition equipment to the semiconductor industry, has reached an agreement with its Chinese customer San'an Optoelectronics regarding a substantial reduction in the volume of AIX R6 MOCVD systems ordered from 50 to the three which have already been delivered.

Despite the efforts made by both parties, the customer's specific qualification requirements were not achieved. Both parties agreed to continue their existing partnership by cooperating on future system generations as well as on systems for other applications.

AIXTRON will proceed in marketing and the further development of the AIX R6 Showerhead technology. The focus is now on existing customers that have already achieved or are in the process of achieving qualification.

Impact on revenue and earnings

Based on a broader distribution of revenue for equipment in the silicon industry, power electronics and other optoelectronic applications, the company expects to generate full-year revenues of approximately EUR 190 million in 2015. The strategy of diversifying the product portfolio has borne fruit in the first nine months of 2015. The target of an EBITDA break-even in the second half of 2015 remains in place.

AIXTRON expects to generate revenues in 2016 of around the same level as 2015.

Results for 2015 will be published as planned on February 23, 2016.

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