Report
Stephane Houri

Aixtron SE : Buy rating maintained, even though 2019 looks set to be a mixed year

>2018 results better than expected - 2018 sales came to € 268.8m vs the consensus forecast of € 262m (Oddo-BHF estimate € 260.4m). Note that Aixtron’s guidance was for € 260m. 2018 EBIT came to € 41.5m, beating the consensus forecast of € 35.8m and higher than the top end of the guidance range of € 35m to € 40m. The operating margin therefore came to 15.4%. The order intake amounted to € 302.5m vs the guidance of € 290m and the consensus forecast of € 298.5m. 2018 EPS...
Underlying
AIXTRON SE

Aixtron is a provider of deposition equipment to the semiconductor industry. Co.'s technology solutions are used by customers to build components for electronic and opto-electronic applications based on compound, silicon, or organic semiconductor materials. The components are used in displays, signaling, lighting, fiber optic communication systems, wireless and mobile telephony applications, optical and electronic storage devices, computing, as well and other technologies. Co. supplies to customers both full production-scale chemical vapor deposition systems and small scale systems for research and development use.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Stephane Houri

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