DGAP-News: First Sensor AG / Key word(s): Quarter Results First Sensor AG: First Sensor starts fiscal 2018 at previous year's level 14.05.2018 / 08:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- First Sensor starts fiscal 2018 at previous year's level - Due to implementation of new ERP system sales amounts to EUR34.5 million - EUR 97.3 million backlog and 1.14 book-to-bill give tailwind - EBIT margin of 3.1% EBIT due to sales-related decrease in economies of scale and growth costs - Executive Board confirms guidance for fiscal year 2018 First Sensor AG, a developer and manufacturer of standard products and customer-specific solutions in the growth market of sensors and sensor systems, started fiscal 2018 with sales of EUR34.5 million at previous year's level. Related to reporting date factors, output decreased in connection with the introduction of a new ERP system for company management as at January 1, 2018. Due to sales-related decrease in economies of scale combined with increased material and personnel expenses to secure further growth, the EBIT is at EUR1.1 million after the first three month. This resulted in an EBIT margin of 3.1% (PY: 5.1%). Net profit for the first quarter of 2018 totaled EUR0.2 million (PY: EUR1.2 million), with earnings per share of EUR0.02 (PY: EUR0.13). "After having full order books as at December 31, 2017, we could not yet realize our full economic potential in the first three months of the current year," says Dr. Dirk Rothweiler, CEO der First Sensor AG. "At the same time a continued high demand for sensors and integrated manufacturing services from First Sensor gives us a tailwind for the rest of the year and we are confident to reach the planned sales and EBIT targets for the fiscal year 2018. Target markets In the Industrial target market, First Sensor generated sales of EUR16.3 million in the first quarter of 2018. This was EUR1.5 million lower than in the previous year (PY: EUR17.8 million). Based on the order backlog and incoming orders, sales are expected to increase over the course of the year. In the Medical target market, sales amounted to EUR7.4 million in the first quarter of 2018. Compared to the first quarter of 2017 (PY: EUR6.4 million), a sales increase of EUR1.0 million was achieved. This is primarily due to optical diagnostics customers. In the Mobility target market, sales amounted to EUR10.8 million in the first quarter of 2018. This represents an increase of EUR0.7 million compared to the first quarter of 2017 (PY: EUR10.1 million). This is primarily due to a greater demand in the area of pressure sensor technology. Incoming orders and orders on hand Incoming orders at EUR39.3 million were up year-on-year (PY: EUR35.1 million). As an important growth indicator, our book-to-bill ratio thus came to 1.14 as at the reporting date (PY: 1.02). Due to the lower output in connection with the introduction of a new ERP system, the order backlog also increased. It now totals EUR97.3 million (PY: 88.9). The incoming orders and the order backlog provide good opportunities for a more dynamic business performance in the coming quarters. Balance and cash flow At EUR159.2 million, total assets were almost unchanged as against December 31, 2017. One significant change is the increase in the inventories item, which allows for an improvement in delivery capability. The increase of around EUR2.8 million was financed with cash and cash equivalents. Net debt amounts to EUR25.2 million and is thus slightly lower than in the previous year (PY: EUR27.3 million). Compared to the first quarter of 2017, equity increased to EUR82.1 million (PY: EUR78.7 million), with an equity ratio of 51.5% (PY: 50.9%). With roughly constant sales and a significant increase in inventories, cash flow from operating activities improved slightly compared to the same period of the previous year. It now amounts to EUR0.07 million (PY: EUR-0.2 million). Moderate additions to investments in the first quarter of 2018 curbed the outflow of cash in comparison to the same period of the previous year, causing the change in cash in the free cash flow to improve slightly by EUR-1.9 million year-on-year (PY: EUR-2.5 million). The negative cash flow from financing activities of EUR-0.6 million was also lower than in the first quarter of 2017 (PY: EUR-1.9 million) as a result of the more usual financing activities from repayments in a small amount and interest payments. Employees The increase in employees at the First Sensor Group from 783 FTEs (full-time equivalents) in the first quarter 2017 compared to 811 FTEs in the first quarter 2018 is attributable to additional requirements for in sales and production to secure future growth. In relation to the current sales level, sales per employee have therefore temporary decreased. Outlook All in all, the business performance in the first quarter of 2018 does not reflect the expectations and potential for the year as a whole. The growing order backlog and continued high incoming orders support the Executive Board's forecasts of closing 2018 as a whole with sales between EUR150 million and EUR160 million and an EBIT margin between 7% and 9%. With very good growth opportunities still in the medium and long term, the goal is to gradually increase the EBIT margin to 10%. The Interim Report Q1 2018 is available for download on the Internet at http://www.first-sensor.com/en/investor-relations/financial-publications/quarterly-reports/. Presentation of Q1 Interim Report on Monday, May 14, 2018 at 2 p.m. CEST: https://webcasts.eqs.com/firstsensor20180514 Quarterly Results at a Glance* in EUR million, unless Q4 Q1 Q2 Q3 Q4 Q1 otherwise indicated 2016 2017 2017 2017 2017 2018 Sales revenues 35.4 34.3 34.6 39.3 39.3 34.5 Industrial 18.7 17.8 18.3 19.4 19.6 16.3 Medical 6.6 6.4 6.4 7.6 7.6 7.4 Mobility 10.1 10.1 9.9 12.3 12.1 10.8 EBITDA 4.0 4.0 3.8 6.3 5.5 3.3 EBITDA margin (%) 11.2 11.7 11.0 16.0 14.1 9.5 EBITA 2.2 2.4 2.2 4.7 3.6 1.6 EBITA margin (%) 6.1 6.9 6.3 11.9 9.3 4.7 EBIT 1.6 1.8 1.6 4.1 3.1 1.1 EBIT margin (%) 4.4 5.1 4.6 10.4 7.8 3.1 EBT 1.4 1.4 1.5 2.2 2.0 0.6 EBT margin (%) 4.0 4.1 4.4 5.5 5.2 1.8 Net profit for the period 0.2 1.2 0.8 0.9 1.3 0.2 Earnings per share (EUR) 0.02 0.13 0.08 0.09 0.13 0.02 Cash flow from operating 7.7 -0.2 2.0 3.8 10.4 0.1 activities Free cash flow 5.1 -2.5 -0.7 0.9 5.8 -1.9 Balance sheet total 154.0 154.6 153.1 158.3 159.6 159.2 Shareholders' equity 77.5 78.7 79.4 80.2 81.9 82.1 Equity ratio (%) 50.3 50.9 51.8 50.7 51.3 51.5 Net dept 24.4 27.3 28.0 27.5 22.8 25.2 Working capital 35.7 38.3 38.8 41.1 37.5 38.4 Incoming orders 28.7 35.1 44.4 42.0 42.1 39.3 Orders on hand 82.2 88.9 90.7 96.5 92.5 97.3 Book-to-bill-ratio 0.81 1.02 1.28 1.07 1.07 1.14 Employees (as of March 804 783 784 784 798 811 31, 2017) Sales revenues per 44,0 43,9 44,1 50,1 49,2 42,5 employee in thousand EUR Number of shares in 10,208 10,211 10,211 10,211 10,216 10,216 thousand *Rounding differences may arise. About First Sensor In the growth market of sensor systems, First Sensor develops and produces standard products and customer-specific solutions for the ever-increasing number of applications in the industrial, medical, and mobility target markets. Based on innovative technology platforms, we develop products such as chips, components, sensors, and entire sensor systems. Trends such as Industry 4.0, autonomous driving, and the miniaturization of medical technology will drive our growth extremely rapidly in the future. First Sensor was founded in Berlin in 1991 and has been listed on the Frankfurt Stock Exchange (SIS) since 1999 [Prime Standard Ι WKN: 720190 Ι ISIN: DE0007201907 Ι SIS]. For more details on First Sensor, please visit www.first-sensor.com. Financial Calendar - German Spring Conference on Thuesday, May 15, 2018 - The 2018 Annual General Meeting of First Sensor AG takes place on Wednesday, May 23th, 2018 at Pentahotel Berlin Köpenick, Grünauer Straße 1, 12557 Berlin As we cannot rule out the possibility of delays, we recommend that you consult the latest set of dates at 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 --------------------------------------------------------------------------- 14.05.2018 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. Archive at 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, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 685141 14.05.2018