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Aixtron posts Q2 sales above market expectations
(Reuters) -German chip systems manufacturer Aixtron reported a better than expected quarterly revenue on Thursday, citing increasing demand for datacom lasers particularly for AI centers. The group's sales rose 4% to 137.4 million euros ($156.9 million) in the second quarter of 2025, at the upper end of its guided range of 120-140 million euros and above analysts' average estimate of 128.2 million euros in an LSEG poll. Its quarterly earnings before interest and taxes (EBIT) amounted to 23.6 million euros, up from 12.9 million a year earlier, exceeding analysts' forecast of 22.6 million euros, according to LSEG data. "Although a broader market recovery has yet to take shape, our strong execution keeps us firmly on track," CEO Felix Grawert said in a statement. Felix added that the company sees continued momentum in the datacom laser market, even if silicon carbide (SiC) and gallium nitride (GaN) power electronics markets have not reached the turning point yet. The company said it will continue to monitor the impact of U.S. tariff policies on the global economy and any resulting countermeasures. U.S. President Donald Trump's sweeping tariffs and uncertainty over his trade policies have sent global markets into a tailspin and significantly dampened investors' economic optimism. Aixtron confirmed its full-year outlook for 2025, expecting revenue between 530 million and 600 million euros, down from 633.2 million euros in 2024. ($1 = 0.8756 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Legrand lifts 2025 margin outlook as data centres fuel growth
By Anna Peverieri (Reuters) -French electrical and digital building infrastructure group Legrand on Thursday increased its annual operating margin outlook as it reported first-half core earnings above market expectations. The group, which sells products for the commercial, industrial and residential sectors, had already raised its 2025 revenue growth forecast earlier this month, citing strong North American data centre demand. Tech companies, led by those in the United States, are investing heavily in data centres to meet surging demand for data-hungry artificial intelligence models. Legrand CEO Benoit Coquart told journalists that first-half organic sales growth was up 9%, driven entirely by its data centre business, which accounted for nearly a quarter of sales. The company's data centre revenue has surged nearly sevenfold since 2018, and is expected to exceed 2 billion euros in 2025, he added. The group now expects an adjusted 2025 operating margin after acquisitions of between 20.5% and 21% of sales, compared with 20.5% previously. First-half adjusted earnings before interest and taxes (EBIT) of 1 billion euros ($1.15 billion) beat analysts' consensus of 964 million euros in a company-provided survey. Sales rose 13.4% to 4.77 billion euros, topping the 4.66 billion euro consensus. Coquart said data centres' share of sales could potentially reach 30% but is unlikely to surpass 60%, with residential buildings remaining at the core of the company's business. Here he saw early signs of recovery, particularly in France, but expected no big improvements before 2026. In the U.S., which accounts for 39.2% of group revenue, sales rose 21.6%. Legrand maintained its 2030 targets and said it expects to reach the upper end of its revenue range of around 15 billion euros, compared with 8.6 billion euros it reported last year. ($1 = 0.8715 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Terrified by Trump raids, LA's undocument migrants hide at home
For over a month, Alberto has hardly dared to leave the small room he rents in someone's backyard for fear of encountering the masked police who have been rounding up immigrants in Los Angeles. "It's terrible," sighed the 60-year-old Salvadoran, who does not have a US visa. "It's a confinement I wouldn't wish upon anyone." To survive, Alberto -- AFP agreed to use a pseudonym -- relies on an organization that delivers food to him twice a week. "It helps me a lot, because if I don't have this... how will I eat?" said Alberto, who has not been to his job at a car wash for weeks. The sudden intensification of immigration enforcement activity in Los Angeles in early June saw scores of people -- mostly Latinos -- arrested at car washes, hardware stores, on farms and even in the street. Videos circulating on social media showed masked and heavily armed men pouncing on people who they claimed were hardened criminals. However, critics of the Immigration and Customs Enforcement (ICE) sweeps say those snatched were only trying to earn a meagre wage in jobs that many Americans don't want to do. The raids -- slammed as brutal and seemingly arbitrary -- sparked a wave of demonstrations that gripped the city for weeks, including some that spiraled into violence and vandalism. Alberto decided to hole up in his room after one such raid on a car wash in which some of his friends were arrested, and subsequently deported. Despite being pre-diabetic, he is hesitant to attend an upcoming medical appointment. His only breath of fresh air is pacing the private alley in front of his home. "I'm very stressed. I have headaches and body pain because I was used to working," he said. In 15 years in the United States, Trump's second term has turned out to be "worse than anything" for him. - 'Ghost town' - Trump's immigration offensive was a major feature of his re-election campaign, even winning the favor of some voters in liberal Los Angeles. But its ferocity, in a place that is home to hundreds of thousands of undocumented workers, has taken the city by surprise. Faced with mounting raids, migrants are limiting their movement as much as possible. In June, the use of the public transportation system -- a key network for the city's poorer residents -- dropped by 13.5 percent compared to the previous month. "As you're driving through certain neighborhoods, it looks like a ghost town sometimes," said Norma Fajardo, from the CLEAN Carwash Worker Center, a non-profit organization that supports these workers. It has joined forces with other groups to deliver hundreds of bags of food every week to those afraid to step outside. "There is a huge need for this," said the 37-year-old American. "It's very saddening and infuriating. Workers should be able to go to work and not fear getting kidnapped." In June, ICE agents arrested over 2,200 people in the Los Angeles area, according to internal documents analyzed by AFP. About 60 percent of them had no criminal record. Given the colossal resources recently allocated to ICE by Congress -- nearly $30 billion to bolster immigration enforcement, including funding to recruit 10,000 additional agents -- Fajardo says she is not expecting any let up. - 'New normal' - "It seems like this is the new normal," she sighed. "When we first heard of an ICE raid at a car wash, we were in emergency crisis mode. Now we are just really accepting that we need to plan for the long term." Food assistance has also become essential for Marisol, a Honduran woman who has been confined to her building for weeks with 12 family members. "We constantly thank God (for the food deliveries) because this has been a huge relief," says the 62-year-old Catholic, who has not attended Mass in weeks. Marisol -- not her real name -- has hung up curtains on the windows at her home entrance to block any view from outside. She forbids her grandchildren from opening the door and worries enormously when her daughters venture out to work a few hours to provide for the family's needs. "Every time they go out, I pray to God that they come back, because you never know what might happen," she said. Marisol and her family fled a Honduran crime gang 15 years ago because they wanted to forcibly recruit her children. Now, some of them wonder if it's worth continuing to live in the United States. "My sons have already said to me: 'Mom, sometimes I would prefer to go to Europe.'" rfo/hg/aks
