The AIXTRON Share
Share Price and Volume Graph for AIXTRON SE from 01/01/2017 to 12/31/2017
- NASDAQ Composite
AIXTRON Share Price Performance
The AIXTRON share price nearly tripled in 2017 and was the top-performing constituent on the TecDAX® index. This share price appreciation was driven by positively received changes in AIXTRON´s corporate structure as well as an improvement in demand for AIXTRON´s products throughout the year. With the new laser-based 3D-sensing functionality introduced during 2017 in a high-end smartphone as well as increasing demand for laser-based data communication and ROY LEDs for fine pitch displays, AIXTRON reported strong quarterly order intakes and improved profitability margins throughout the year. Due to the successful sale of the ALD/CVD product line for memory, AIXTRON was able to report an earlier than expected positive EBIT in 2017. In 2018, the Company’s goal is to achieve a positive EBIT based on its operational performance.
Following uncertainties about AIXTRON´s future situation as a standalone company, after the unsuccessful takeover attempt by a Chinese investor, the share price hit a 2017 low of EUR 3.15 on January 17. As part of the publication of its FY/2016 results at the end of February 2017, Management indicated that AIXTRON would pursue options to lower its R&D spending. In addition, AIXTRON delisted the Company’s American Depositary Shares (ADSs) from NASDAQ® and terminated the Company’s ADS Program during Q1/2017 in order to reduce complexity as well as the costs and efforts associated with maintaining a dual listing. Overall, the share price remained largely stable at low levels during Q1/2017.
Over the course of 2017, AIXTRON announced a freeze on some activities (TFE, TFOS), as well as the decision to sell some non-core activities and to establish APEVA to enable a joint venture for its OLED activities. Based on an improving business outlook, Management raised its full-year guidance for both revenues and order intakes. At the same time, investor interest grew around AIXTRON´s vertical cavity surface emitting lasers (VCSELs) solutions which in turn created a positive momentum behind the share price. These VCSELs are now being used by one of the major mobile phone producers for powering 3D-sensing functionality for smart phones. After the official launch of that high-end smartphone analysts started to expect an accelerating adoption of 3D-sensing features and therefore also higher demand for AIXTRON equipment. This was supported by capacity expansion plan announcements along the supply chain. In addition, there is growing interest around silicon carbide (SiC) based power devices for electric vehicles and the respective potential future demand increase for AIXTRON. Overall, the capital markets reacted very positively to the progress AIXTRON made structurally and operationally in 2017. The share price reached a multiyear high of EUR 14.68 on November 24, before falling back at the end of the year to EUR 11.58 (+273.5% year-on-year, versus 2016 closing prices of EUR 3.10), resulting in a market capitalization of close to EUR 1,300 million. In comparison, the TecDAX® Index increased by 39.6% from 1,811.7 points to 2,529.0 points during the year.
AIXTRON shares are listed on the Prime Standard segment of the Frankfurt Stock Exchange. On March 20, 2017, AIXTRON shares returned to the TecDAX®, after the temporary exclusion on December 19, 2016 due to the ongoing Chinese takeover process and the resulting reduction of the AIXTRON free float at that time. As of December 31, 2017, AIXTRON´s shares ranked number 18 of 30 in market capitalization and number 8 of 30 in 2017 transaction turnover in the TecDAX®.
AIXTRON regularly publishes press releases and key financial figures informing shareholders and the capital markets on the current status, market environment and perceived outlook for AIXTRON´s business. The information has been publicly available in German and English on the Company’s website at www.aixtron.com. Please note that AIXTRON does not routinely print and circulate its annual report due to environmental reasons. Instead, AIXTRON offers an online report which is available directly via the Company’s website, providing additional functionalities for shareholders.
In addition, AIXTRON regularly participates in many major investor conferences and road shows in the world’s most important financial centers. At such conferences, AIXTRON hosts discussions on current financial results, strategies, products, as well as industry and market trends with institutional and private investors, journalists and financial analysts.
During fiscal year 2017, AIXTRON logged around 54 man-days interacting with the financial markets through Company visits, individual meetings, investor conferences and road shows worldwide, conducting close to 160 personal discussions, calls and teleconferences with financial markets players. The Investor Relations department resumed an active dialogue with stake- and shareholders following a less active period during to the takeover attempt in 2016. AIXTRON is fully dedicated to providing accurate, timely and relevant information on both the Company’s own direct business and general market developments to shareholders and the capital markets. In addition, AIXTRON commits to comply with the principles of good Corporate Governance.
At year-end 2017, a total of 14 financial analysts (2016: 19) based in Europe commented on the Company on a regular basis as part of their official coverage of the stock.
About 300 shareholders attended AIXTRON´s Annual General Meeting which took place on May 9, 2017 in Aachen/Germany. AIXTRON Management provided them with a comprehensive report on the status and prospects of the Company.
As of December 31, 2017, private individuals held approximately 24% of AIXTRON´s shares, most of whom are located in Germany. Around 76% of the outstanding AIXTRON shares are held by institutional investors. The majority of institutional investors (around 37%) are based in UK, followed by Germany (23%) and the U.S. (21%). The remaining investors are located across the rest of Europe and the rest of the world. According to the latest announcement on voting rights, AIXTRON´s largest shareholders in 2017 were Baillie Gifford Overseas Limited, T. Rowe Price Group and Oppenheimer Funds each of whom held more than 5% of AIXTRON stock. 99 percent of the shares were free float, according to the definition of the Deutsche Börse.
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):
// Baillie Gifford Overseas Limited, Edinburgh, UK, 5.2%
// OppenheimerFunds, Inc., Denver, Colorado, USA, 5.2%
// T. Rowe Price Group, Inc., Baltimore, Maryland, USA, 5.2%
// Argonaut Capital Partners LLP, Edinburgh, UK, 3.5%
// Caisse des Dépôts et Consignations, Paris, France, 3.1%