Aixtron Se Unsp/Adr

Ladies and gentlemen, welcome to Extron's analyst conference call Q1 2025. Please note that today's call is being recorded. Let me now hand you over to Mr. Christian Ludwig, Vice President, Investor Relations and Corporate Communications at Extron, for opening remarks and introductions.

Thanks very much, Operator. A warm welcome to Extron's Q1 2025 results call. My name is Christian Ludwig. I am the head of investor relations and corporate communications at Extron. With me in the room today are our CEO, Dr. Felix Grabert, and our CFO, Dr. Christian Danninger, who will guide you through today's presentation and then take your questions. This call is being recorded by Extron and is considered copyright material. As such, it cannot be recorded or rebroadcast without permission. Your participation in this call implies your consent to this recording. Please take note of the disclaimer that you find on page two of the presentation, as it applies throughout the conference call. This call is not being immediately presented via webcast or any other means. However, we will place a transcript on our website at some point after the call. I would now like to hand you over to our CEO for his opening remarks. Felix, the floor is yours.

Thank you, Christian. Let me also welcome you all to our Q125 results presentation. I will start with an overview of the highlights of the quarter and then hand over to our CFO, Christian, for more details on our financial figures. Finally, I will give you an update on the development of our business and our guidance. Let me start by giving you an update on the key business developments of the second quarter on slide two. The important messages for Q1 are We have delivered a robust Q125 in a weak market environment and recognized solid new orders of 132 million euros, which lead to an increase in equipment order backlog to 308 million euros. We concluded the quarter with revenues of 113 million. With that, we have even exceeded our guided range of 90 to 110 million. The gross margin came out at 30%, mainly due to a €5 million one-off cost item related to our announced personnel reduction. Adjusted for this effect, the gross margin is at around 35%, slightly below the previous year's 37%. Reasons are a slightly weaker product mix, as well as selected product enhancement for previously delivered G10 series tools. With these results, we confirm our full year 2025 guidance published in February 25. And let me now also add our view on the US tariff policy. Although as of today, our tools are exempt of any tariffs, we are aware that this may change. We are able to manufacture both in continental Europe, namely in Germany, as well as in the UK. This gives us some options to deal with different tariff scenarios. We will closely monitor the impact of the U.S. tariff policies on the global economy and any required measures which may become important for us. Christian will now provide a detailed look into our financials on the following pages before I take over with an update on our markets.