The AIXTRON Share
Share Price and Volume Graph for AIXTRON SE from 01/01/2015 to 12/31/2015
- NASDAQ Composite
AIXTRON Share Price Performance
AIXTRON’s share price was under pressure in 2015. While demand from specialty LED, laser, power electronics, silicon or other applications posted effective growth throughout the year, the expectations of a meaningful short term recovery of LED related equipment demand and a successful production qualification of our AIX R6 showerhead tool at major customers remained the focus of the capital market. AIXTRON informed regularly about the challenges and delays in the qualification processes. Since February 2015, AIXTRON also emphasized the low visibility of the LED markets.
The share price reached a 2015 high of EUR 9.38 (USD 11.08) on January 5. Uncertainties based on the ongoing qualification process of the AIX R6 showerhead tool at the major Chinese customer San’an Optoelectronics triggered downwards corrections of the AIXTRON share price at the beginning of the year. During the FY/2014 results in February and the Q1/2015 results in April, Management discussed the ongoing qualification process and provided or reiterated the full-year 2015 guidance on revenues and EBITDA.
During Q1/2015, expectations of high utilization rates at many LED manufacturers to be extended into the mid of the year drove an AIXTRON share rebound in May. Nevertheless, muted order activities did not support the market’s recovery projections. The share price declined again. Management’s reiteration of the full-year 2015 guidance during the Q2/2015 results in July accounted for an optimistic sentiment on the AIXTRON share extending into September. It faded away partially due to accelerating LED chip price erosion and respective profitability concerns on the LED producers in late September.
In October, AIXTRON revised its full year revenue guidance downwards, which was in particular due to a shortfall of 2015 shipments to the major customer San’an. At the same time, AIXTRON reiterated its target to achieve a positive EBITDA in the second half of 2015. AIXTRON’s positive Q3/2015 EBITDA results, the announcement of major investment plans by Osram and some positive analyst reports led to the share price rally in November. It significantly reversed after the Company’s ad hoc release on December 9 of a substantial reduction in the order volume of AIX R6 MOCVD systems from San’an. The AIXTRON share hit a 2015 low of EUR 3.86 (USD 4.17) on December 18.
AIXTRON shares ended the year 2015 at EUR 4.13 (-55.9% year-on-year) in Germany and USD 4.36 (-61.1% year-on-year) in the U.S. (versus 2014 closing prices of EUR 9.37 and USD 11.21), resulting in a market capitalization of close to EUR 467 million. In comparison, the TecDAX® Index increased by 33.5% from 1,371.4 points to 1,830.7 over the year and the NASDAQ Composite® Index increased by 5.7% from 4,736.1 points to 5,007.4 points at the end of 2015.
AIXTRON shares are listed in the Prime Standard segment of the Frankfurt Stock Exchange and – in form of American Depositary Shares – on the NASDAQ® Global Select MarketSM . In line with the US listing requirements, AIXTRON complies with strict American transparency guidelines. The AIXTRON shares are included in many important indices, such as the TecDAX® or the NASDAQ Composite® Index. In addition, it is included in sustainability indices, such as the Dow Jones Sustainability Index and the Natur Aktien Index.
Due to cost reduction and environmental benefits reasons, the Company does not routinely print and circulate the AIXTRON annual report. Instead, AIXTRON offers an online report which is available directly via the Company’s website, providing additional features and functionalities for shareholders.
AIXTRON regularly published press releases and key financial figures informing shareholders and the capital markets on the current status, environment and perceived outlook for AIXTRON’s business. In addition, AIXTRON regularly participates in numerous major investor conferences and road shows in the world’s most important financial centers. Through these conferences, it hosts discussions on current financial results, strategies, products, as well as industry and market trends with institutional and private investors, journalists and financial analysts. At year-end 2015, a total of 32 analysts (2014: 37), of whom 27 are based in Europe and 5 in the United States, commented on the Company on a regular basis as part of their official coverage of the stock.
During fiscal year 2015, AIXTRON logged around 60 man-days reporting to the financial markets through Company visits, individual meetings, investor conferences and road shows worldwide, conducting close to 200 personal discussions and teleconferences with leading players in the financial markets. The Investor Relations department constantly maintained an active dialogue with many individual and institutional shareholders and stakeholders. AIXTRON is fully dedicated to providing accurate, timely and relevant information on both its own direct business and general market developments to shareholders and the capital markets. In addition, AIXTRON commits to compliance with the principles of good Corporate Governance.
More than 300 shareholders attended AIXTRON’s Annual General Meeting which took place on May 20, 2015 in Aachen/Germany. The Company’s Management provided them with a comprehensive report on the status and prospects of the Company.
As of December 31, 2015, approximately 36% of AIXTRON’s shares were held by private individuals, most of which are situated in Germany. Around 64% of the outstanding AIXTRON shares are held by institutional investors. The majority of institutional investors (around 36%) are based in UK, followed by Germany (30%). The remaining investors are located in the U.S. (11%), the rest of Europe and the rest of the world. According to the latest announcement on voting rights, AIXTRON’s largest, non-institutional shareholder in 2015 continued to be Camma B.V. (Renesse, Netherlands), holding 6.8% of AIXTRON stock. Around 93% of the shares were free float, according to the definition of the Deutsche Börse. As of December 31, 2015, AIXTRON’s shares ranked number 21 of 30 in market capitalization (December 2014: 11) and number 9 of 30 in 2015 transaction turnover (2014: number 11) in the Deutsche Börse TecDAX® Technology Index Ranking.
At year-end, the following investors had equity shareholdings in AIXTRON SE exceeding the 3% reporting threshold (according to public filings or voting rights announcements, pursuant to Section 26 (1) of the German Securities Trading Act/WpHG):
// Argonaut Capital Partners LLP, Edinburgh, UK, 7.7%
// Baillie Gifford Overseas Limited, Edinburgh, UK, 5.2%
// Generation Investment Management, London, UK, 5.2%
// Allianz Global Investors GmbH, Frankfurt am Main, Germany, 4.8%
// Caisse des Dépôts et Consignations, Paris, France, 3.1%
// Vanguard International Growth Fund, Wayne, USA, 3.0%