DGAP-News: Elmos Semiconductor AG / Key word(s): Quarter Results/Change in Forecast Elmos Semiconductor AG: Positive start into the year 2015 05.05.2015 / 07:30 --------------------------------------------------------------------- Good free cash flow performance - Adjusted forecast due to exchange rate effects Dortmund, May 5, 2015: Elmos Semiconductor AG (FSE: ELG) managed to increase sales by 12.1% to 55.3 million Euro in the first quarter of 2015 (Q1 2014: 49.4 million Euro). Apart from the pleasant business performance, the high sales increase is driven by significant cut-off effects and the strong U.S. dollar. It is also worth mentioning that sales are up 3.5% from the previous quarter (Q4 2014: 53.5 million Euro) despite the typical annual price discounts granted at the beginning of the year. Sales generated in Asia (+46.6%) and the U.S.A. (+50.8%) show strong growth in comparison with the first quarter of 2014. The gross profit grew to 22.4 million Euro (Q1 2014: 20.5 million Euro) resulting in a gross margin of 40.5% (Q1 2014: 41.6%). Operating expenses were slightly down in relation to sales (Q1 2015: 34.8% vs. Q1 2014: 35.9%). Thus the operating income before other operating expenses/income went up from 2.8 million Euro in the prior-year quarter to 3.2 million Euro in the first quarter of 2015. Profit margins of the first quarter of 2015 were altogether affected by the development of the U.S. dollar exchange rate and its negative impact on manufacturing costs in particular. The EBIT almost doubled, climbing to 6.3 million Euro (Q1 2014: 3.2 million Euro), positively affected by exchange rate gains of 2.9 million Euro primarily from hedging transactions (Q1 2014: exchange rate losses of 0.2 million Euro), among other factors. The EBIT margin is 11.5% (Q1 2014: 6.5%). Consolidated net income, supported in the prior-year period by one-off tax effects, reached 4.3 million Euro in the quarter under review (Q1 2014: 4.0 million Euro) or 7.8% of sales (Q1 2014: 8.2%). This equals basic earnings per share (EPS) of 0.22 Euro (Q1 2014: 0.21 Euro). The operating cash flow performed well over the first quarter of 2015 and came to 12.6 million Euro (Q1 2014: 11.6 million Euro). Capital expenditures for intangible assets and property, plant and equipment amounted to 6.1 million Euro or 11.1% of sales (Q1 2014: 8.0 million Euro or 16.2% of sales). The adjusted free cash flow* was clearly positive at 6.5 million Euro (Q1 2014: 3.6 million Euro). "Elmos started this year in line with our expectations. Customer demand is strong particularly in Asia," says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. "The remainder of the year will be determined by scheduled product ramp-ups and the continued optimization of 8-inch manufacturing." Elmos adjusts the forecast due to exchange rate effects. The forecast is now based on an exchange rate of 1.10 USD/EUR (formerly: 1.20 USD/EUR). Accordingly, management is expecting a sales increase between 5% and 9% (formerly: mid single-digit percentage range) for the current fiscal year 2015. Thanks to the hedging transactions entered into we still expect to achieve a slightly better EBIT margin in 2015 compared to 2014 despite the exchange rate's negative effect on costs. Elmos will again spend less than 15% of sales on capital expenditures and generate a positive adjusted free cash flow again. The complete three-month report is available in English and German at www.elmos.com. On May 5, 2015 at 11.30 a.m. (CEST), Elmos will hold a conference call in English for analysts and investors. The conference call will later be downloadable from the Company's website. Overview of key financials according to IFRS (in million Euro or percent unless otherwise indicated): Q1/15 Q1/14 Diff. Sales 55.3 49.4 12.1% Gross profit 22.4 20.5 9.1% Operating income 3.2 2.8 12.6% EBIT 6.3 3.2 96.6% EBIT margin in % 11.5% 6.5% Consolidated net income after 4.3 4.0 6.9% non-controlling interests Earnings per share in Euro (basic) 0.22 0.21 5.6% * Cash flow from operating activities less capital expenditures for intangible assets and property, plant and equipment, less payments for investments, plus disposal of investments Elmos Semiconductor AG is a developer and manufacturer of system solutions on semiconductor basis. For about 30 years now, our chips have made vehicles as well as industrial and consumer goods more efficient in terms of energy consumption and performance. Contact: Elmos Semiconductor AG, Janina Rosenbaum, Heinrich-Hertz-Str. 1, 44227 Dortmund, Germany; phone: +49 231-7549-0, extension: -287, fax: +49 231-7549-111, [email protected], www.elmos.com --------------------------------------------------------------------- 05.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Elmos Semiconductor AG Heinrich-Hertz-Str. 1 44227 Dortmund Germany Phone: +49 (0)231 7549-575 Fax: +49 (0)231 7549-548 E-mail: [email protected] Internet: http://www.elmos.com ISIN: DE0005677108 WKN: 567710 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 352633 05.05.2015