04.11.2015
Elmos Semiconductor AG DE0005677108
DGAP-News: Elmos Semiconductor AG: Solid business performance in the third quarter of 2015
DGAP-News: Elmos Semiconductor AG / Key word(s): 9-month figures
Elmos Semiconductor AG: Solid business performance in the third
quarter of 2015
04.11.2015 / 07:00
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Sales growth of roughly 4% expected for the full year
Dortmund, November 4, 2015: Elmos Semiconductor AG (FSE: ELG) achieved a
solid sales performance and an improved EBIT margin in the third quarter of
2015 and thus confirms the preliminary financials as released end of
October. At 54.6 million Euro, the sales level is almost unchanged compared
to the prior-year quarter (Q3 2014: 54.7 million Euro).
Gross profit went down to 22.5 million Euro corresponding to a gross margin
of 41.3%, affected particularly by the strong U.S. dollar in the reporting
period (Q3 2014: 25.0 million Euro / 45.7%). Operating expenses dropped to
32.6% in relation to sales (Q3 2014: 35.2%). The EBIT increased
disproportionately by 16.5% to 7.1 million Euro corresponding to an EBIT
margin of 12.9% (Q3 2014: 6.1 million Euro / 11.1%), partly due to
extraordinary effects from other operating income. Consolidated net income
gained 19.3% to 4.7 million Euro (Q3 2014: 3.9 million Euro) so that basic
earnings per share reached 0.24 Euro for the quarter under review (Q3 2014:
0.20 Euro).
The operating cash flow amounted to 15.6 million Euro in the third quarter
of 2015 (Q3 2014: 14.1 million Euro). Adjusted for the repurchase of land
and building from prematurely terminated lease agreements, capital
expenditures came to 7.6 million Euro in the third quarter (Q3 2014: 7.4
million Euro). The adjusted free cash flow* was 7.9 million Euro (Q3 2014:
6.8 million Euro).
In the first nine months of 2015, sales grew by 5.3% to 164.3 million Euro
(9M 2014: 156.0 million Euro). The gross margin went down slightly from
43.0% to 41.6%. The EBIT gained 21.9% to reach 17.5 million Euro (9M 2014:
14.4 million Euro). Consolidated net income was 11.8 million Euro compared
to 12.0 million Euro in the first nine months of 2014, which were favored
by a lower tax rate. Basic earnings per share came to 0.60 Euro (9M 2014:
0.62 Euro).
"The market environment particularly in China has become more difficult
over the past weeks. It is good news that the ramp-ups make a positive
contribution to our business performance," says Dr. Anton Mindl, CEO of
Elmos Semiconductor AG.
As announced end of October, Elmos expects growth in sales of roughly 4%
for 2015 compared to the previous year. Elmos anticipates an EBIT margin at
around the prior-year level for 2015 (2014: 10.8%). Management also expects
a positive adjusted free cash flow* and capital expenditures of less than
15% of sales (both disregarding the one-off effect from prematurely
terminated lease agreements). This forecast is based on an exchange rate of
1.10 USD/EUR.
The complete interim report is available in English and German at
www.elmos.com. On November 4, 2015 at 11.30 a.m. (CET), 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):
Q3/15 Q3/14 Diff. 9M/15 9M/14 Diff.
Sales 54.6 54.7 -0.2% 164.3 156.0 5.3%
Gross profit 22.5 25.0 -10.0% 68.3 67.1 1.8%
EBIT 7.1 6.1 16.5% 17.5 14.4 21.9%
EBIT margin 12.9% 11.1% 10.7% 9.2%
Consolidated net income
after non-controlling
interests 4.7 3.9 19.3% 11.8 12.0 -1.9%
Basic earnings
per share (Euro) 0.24 0.20 0.60 0.62
* 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
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04.11.2015 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.
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Language: English
Company: Elmos Semiconductor AG
Heinrich-Hertz-Str. 1
44227 Dortmund
Germany
Phone: +49 (0)231 7549-575
Fax: +49 (0)231 7549-111
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
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408091 04.11.2015
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