Sales of 136.0 million Euro and EBIT margin of 25.1% in Q2 2023 underline profitable growth trajectory

Dortmund, July 27, 2023: With sales of 136.0 million Euro, Elmos Semiconductor SE (FSE: ELG) finished the second quarter of 2023 very successfully with its tenth consecutive quarter of record sales. Thanks to the sustained high demand for Elmos semiconductors in all product segments, quarterly sales once again increased significantly by 30.2 million Euro, or 28.6%, year on year (Q2 2022: 105.8 million Euro). With new product launches, the dynamic sales performance is expected to continue in the second half of 2023. Due to the strong growth, EBIT rose to 34.1 million Euro (Q2 2022: 25.2 million Euro) in the second quarter of 2023 despite inflation-related cost increases. At 25.1% (Q2 2022: 23.8%), the EBIT margin in Q2 2023 was in line with expectations.

“We have succeeded in setting a new record for quarterly sales for the tenth time in a row and aim to continue the successful growth strategy going forward,” says Dr. Arne Schneider, CEO of Elmos Semiconductor SE. “Our innovative product portfolio offers excellent conditions for doing so.”

With capital expenditures of 42.4 million Euro (Q2 2022: 19.9 million Euro), the expansion of manufacturing capacities in the testing area was accelerated significantly in the second quarter of 2023. As a result of the extensive investments in the future and higher working capital for the preparation of the planned product launches, adjusted free cash flow totaled -36.7 million Euro in the second quarter of 2023 (Q2 2022: -0.5 million Euro).

The current guidance for fiscal year 2023 as of June 28, 2023 remains unchanged. The Company anticipates sales of more than 560 million Euro and an EBIT margin of 25% ± 2 percentage points of sales for the full year 2023. Capital expenditures are expected at 19% ± 2 percentage points of sales. As a result, Elmos expects a negative operating adjusted free cash flow in 2023.

Overview of the financial figures
Figures according to IFRS (in million Euro or percent unless otherwise indicated):

 Definitions of selected financial indicators
- Capital expenditures: Capital expenditures for intangible assets and property, plant and equipment less capitalized development expenses
- Adjusted free cash flow: Cash flow from operating activities less capital expenditures for/plus disposal of intangible assets and property, plant and equipment
- Operating adjusted free cash flow: Cash flow from operating activities less capital expenditures for/plus disposal of intangible assets and property, plant and equipment and excluding effects from M&A transactions
- Further information on the key figures used can be found in the Annual Report 2022 at www.elmos.com

Interim report H1 2023
Further information on the second quarter 2023 and the first half-year 2023 of Elmos Semiconductor SE can be found in the interim report for the first half-year 2023. This report is available at www.elmos.com. Elmos will hold a conference call (in English) for analysts and investors on July 27, 2023 at 10.30 a.m. (CEST). The conference call will be available later on the website.

Contact
Elmos Semiconductor SE
Ralf Hoppe, Head of Investor Relations, Public Relations & ESG
Phone: +49-231‐7549‐7000
Email: [email protected]

About Elmos
Elmos develops, produces and markets semiconductors, primarily for use in the automotive industry. Our components communicate, measure, regulate and control safety, comfort, powertrain and network functions. For 40 years, Elmos innovations have been bringing new functions to life and making mobility worldwide safer, more comfortable and more energy efficient. With our solutions we are already the worldwide #1 in applications with great future potential, such as ultrasonic distance measurement, ambient and rear light as well as intuitive HMI.

Note
This release contains forward-looking statements that are based on assumptions and estimates made by the Elmos management. Even though we assume the underlying expectations of the forward-looking statements to be realistic, we cannot guarantee the expectations will prove right. The assumptions may carry risks and uncertainties, and as a result actual events may differ materially from the forward-looking statements. Among the factors that could cause such differences are changes in general economic and business conditions, fluctuations of exchange rates and interest rates, the introduction of competing products, lack of acceptance of new products, and changes in business strategy. Elmos neither intends nor assumes any obligation to update its statements with respect to future events.