DGAP-News: First Sensor AG / Key word(s): Quarter Results First Sensor AG: First Sensor enjoys successful start to 2016 02.05.2016 / 08:35 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- First Sensor enjoys successful start to 2016 - Sales up 12.7% at EUR37.5 million - EBIT also on track at EUR2.2 million - Management Board confirms forecast for fiscal year 2016 In the first quarter of 2016, First Sensor AG, a developer and manufacturer of customer-specific solutions on the growth market of sensor technology, generated the highest quarterly sales in the company's history at EUR37.5 million. Sales increased by 12.7% compared with the same period of the previous year (EUR33.3 million). "The first quarter demonstrates that we are successfully developing sensors, smart sensors and sensor systems that by far exceed standard components already available on the market", says Dr. Martin U. Schefter, CEO of First Sensor AG. "Trends such as Industry 4.0, autonomous driving and the miniaturization of medical technology are providing additional impetus for our growth - today and in the future." As expected, the sales growth also had a positive impact on profitability, with EBIT improving to EUR2.2 million (previous year: EUR1.5 million). The EBIT margin for the first three months was 6.0%. "Our quarterly results show that the measures initiated with a view to improving profitability are gradually taking effect and serves to confirm our forecasts for fiscal year 2016", says Dr. Mathias Gollwitzer, CFO of First Sensor AG. Segments The Business Unit Industrial recorded sales of EUR16.9 million in the first quarter of 2016. Although this figure was down EUR1.8 million on the previous year, this was attributable to a shift in the pattern of delivery call-offs to existing customers. With a year-on-year increase of EUR1.9 million, the Business Unit Medical continued its growth in the first quarter of 2016, generating sales of EUR7.2 million. At EUR13.4 million, sales in the Business Unit Mobility were up EUR4.1 on the previous year. Incoming orders and orders on hand Incoming orders for the first quarter declined to EUR31.4 million, although this figure was in line with recent quarters. Orders on hand fell by EUR6.4 million compared with the end of the previous fiscal year. This resulted in a book-to-bill ratio of 0.8 and besides the high volume of sales in the first quarter also was largely due to order postponements. This development is expected to be reversed in the coming quarters. Balance sheet and cash flows The increase in total assets to EUR154.3 million (PY: EUR153.5 million) primarily results from the rise in working capital to EUR38.3 million as compared to EUR36.5 million at the end of last year. Net debt fell by EUR2.0 million compared with year-end to total EUR31.0 million. The net profit for the first quarter of 2016 meant that equity increased to EUR72.8 million, corresponding to an equity ratio of 47.2% (previous year: 46.4%). Cash flow from operating activities was positive at EUR3.4 million in the first three months of the current fiscal year compared with a negative figure of EUR-1.0 million in the same period of the previous year. The investment volume was a low EUR0.7 million in the first quarter of 2016, largely as a result of investment projects being delayed until later in the fiscal year. Cash flow from financing activities reflected the scheduled expiry of money market loans in the amount of EUR2.4 million in January 2016. These loans had been taken out in the previous year in connection with the discontinuation of factoring. Having also been clearly negative in the first quarter of 2015 (EUR-2.7 million), free cash flow was positive at EUR2.5 million at the end of the quarter under review. Employees The First Sensor Group had a total of 783 employees as at March 31, 2016. Despite various new appointments in the first three months of the year, the level of sales per employee continued to increase. This serves as a further demonstration of the company's improved productivity and the economies of scale that are taking effect. Outlook For the current fiscal year 2016, the Management Board is confirming its forecast of an increase in sales to EUR145-150 million, with the EBIT margin initially expected to reach between 5% and 6%. Over the coming years the EBIT margin is to be gradually improved to 10%, while annual sales growth of around 10% is anticipated. The objective is to enhance value continuously. Quarterly Results at a Glance in EUR million, unless Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 otherwise indicated Sales revenues 33,3 33,9 35,4 35,1 37,5 Industrial 18,7 19,0 18,5 18,0 16,9 Medical 5,3 5,6 6,4 6,5 7,2 Mobility 9,3 9,3 10,6 10,6 13,4 EBITDA 3,9 3,7 1,7 2,1 4,5 EBITDA margin (%) as 11,4 10,7 5,0 6,1 12,1 compared to total output EBIT 1,5 1,4 -0,7 -1,0 2,2 EBIT margin (%)as 4,4 4,1 -1,9 -3,0 6,0 compared to total output Net profit for the period 1,1 0,7 -1,3 -1,9 1,7 Earnings per share (EUR) 0,10 0,06 -0,14 -0,19 0,16 Cash flow from operating -1,0 -6,1 6,1 6,1 3,4 activities Free cash flow -2,7 -7,1 4,5 3,5 2,5 Balance sheet total 147,5 149,6 148,5 153,5 154,3 Shareholders' equity 73,7 74,3 73,1 71,3 72,8 Equity ratio (%) 50,0 49,7 49,2 46,4 47,2 Net dept 32,8 40,3 36,1 33,0 31,0 Working capital 31,8 42,1 39,2 36,5 38,3 ROCE (%) 1,2 2,3 1,8 1,0 1,8 Incoming orders 34,9 43,3 28,6 35,5 31,4 Orders on hand 90,6 98,7 91,0 90,7 84,4 Book-to-bill-ratio 1,0 1,3 0,8 1,0 0,8 Employees (average of the 767 774 779 773 783 period) Sales revenues per 43,4 43,8 45,5 45,4 48,0 employee Number of shares in 10.135 10.141 10.147 10.155 10.155 thousand Download The "Q1 2016 Interim Report" is available for download on the internet at http://www.first-sensor.com/en/investor-relations/financial-publications/q uarterly-reports. Events The annual general meeting takes place on May 4th 2016 at 10:00 a.m. at the Pentahotel Berlin Köpenick, Grünauer Straße 1 in 12557 Berlin. It is intended to publish the 6-Month Financial Report on August 11, 2016. About First Sensor AG First Sensor AG is one of the world's leading suppliers in the field of sensor systems. Our company develops and manufactures standardized and customized sensor solutions for applications in the Industrial, Medical and Mobility growth markets. With over 800 employees, we are represented at six German locations and also have development, production and sales sites in the USA, Canada, Singapore, China, the Netherlands, Great Britain, France, Sweden and Denmark along with a worldwide partner network. First Sensor AG is a German public limited company and has been listed in the Prime Standard of the German stock exchange in Frankfurt since 1999. For more details on First Sensor, please visit www.first-sensor.com. Disclaimer This report contains statements of a predictive nature and does not represent any incitement to purchase shares of First Sensor AG, but rather is intended exclusively for information purposes with regard to possible future developments at the company. All future-oriented information in this consolidated financial report were produced on the basis of probability-based plan and represent statements regarding the future which cannot be guaranteed. First Sensor AG contact: Peter-Behrens-Str. 15 Corinna Krause 12459 Berlin E-Mail: [email protected] Deutschland T +49 30 639923-571 --------------------------------------------------------------------------- 02.05.2016 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: First Sensor AG Peter-Behrens-Straße 15 12459 Berlin Germany Phone: +49 (0)30 63 99 23-760 Fax: +49 (0)30 63 99 23-719 E-mail: [email protected] Internet: www.first-sensor.com ISIN: DE0007201907 WKN: 720190 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------------- 459685 02.05.2016