Aixtron Se Unsp/Adr

The conference is now being recorded. Ladies and gentlemen, welcome to Extron's H1 2020 results conference call. Please note that today's call is being recorded. Let me now hand you over to Mr. Guido Pickard, VP of IR and Corporate Communications at Extron, for opening remarks and introductions.

Thank you, Operator. Let me start by welcoming you all to EXTRAN's presentation of our half-year and Q2 2020 results. Today, I'd like to welcome our Executive Board, represented by Dr. Felix Graward and Dr. Bernd Schulte, as well as our VP of Finance and Administration, Charles Russell. As the operator indicated, this call is being recorded by EXTRAN and is considered copyright material. As such, it cannot be re-recorded or rebroadcast without permission. Your participation in this call implies your consent to this recording. As the previous results conference calls, I trust that all participants have our results presentation slide deck, page two of which contains the usual safe harbor statement. I would like to point out that this applies throughout the conference call. You may also wish to have a look at our latest IR Master presentation with additional information on Exxon's markets and its technology. It's also available on our website. This call is not being immediately presented via webcast or any other medium. However, we will place an audio file of the recording or transcript on our website at some point after the call. I would now like to hand you over to Ben Schulte for opening remarks. Ben?

Many thanks, Guido. Let me all welcome you to our results presentation of the first half of 2020. And I will start, as usual, with an overview of the key developments in the second quarter on slide three, before handing over to Charles and Felix. With orders of nearly 70 million euros, we had a continued solid quarter for order intake. In Q2, revenues came in at 56 million euros, which was higher than the previous quarter revenues, but as expected, still not at the level of last year's quarter. However, this is the result of the corresponding order intake during the relevant period of last year. As a consequence, revenues in the second half of the year are expected to grow significantly compared to the first half in order to achieve our full year guidance. During Q2, upon request of our customers, we experienced a few delays of commissioning of tools caused by the pandemic. For the second half of the year, we see local lockdown measures ending and an overall relaxation of travel bans. Therefore, we expect no significant influence related to COVID-19 on our entire fiscal year 2020. However, we will continue to watch the development of the global pandemic very carefully and will remain to be ready to take measures as necessary. In the second quarter, our other key financials were largely in line with our plan. With a gross margin of 41%, we are back to the usual levels. We finished the quarter with an order backlog of 157 million euros, which is 42% over the same period last year, and given us confidence that we can meet our 2020 full year guidance, which we communicated to you in our last call, and which Felix will reiterate to you later in more detail. The renewal of our entire MOCVD product portfolio has been continued, is making good progress, and is an advanced stage. We remain confident about our prospects in our addressable markets with our new products as we believe that this will open new market opportunities for our equipment and get our business in an even better position in the future. At this point, Let me hand you now over to Charles for a more detailed overview on the Q2 2020 numbers. Charles?