DGAP-News: Elmos Semiconductor AG: growth forecast confirmed for 2nd quarter 2013 onwards
(firmenpresse) - DGAP-News: ELMOS Semiconductor AG / Key word(s): Interim
Report/Forecast
Elmos Semiconductor AG: growth forecast confirmed for 2nd quarter 2013
onwards
07.05.2013 / 22:00
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Slow start of the year 2013 as expected - Q1 2013 sales down 8%
Dortmund, May 7, 2013: The effects of the uncertain economic situation in
Europe had their impact on sales of Elmos Semiconductor AG (FSE: ELG) in
the 1st quarter of 2013 as expected. The trend that combines weak business
with European automotive customers and a pleasant development in Asia is
currently determining sales figures of carmakers and their suppliers
throughout the industry. However, the growth in Asia does not compensate
for the decline of the business of Elmos in Europe. Total sales went down
8.0% to 43.1 million Euro (Q1 2012: 46.9 million Euro). While sales
generated with European customers dropped by 12.1% to 27.9 million Euro,
sales with Asian customers went up 12.2% to 9.8 million Euro.
The gross margin remained stable at 39.0% compared to the previous year (Q1
2012: 38.9%). The increase in research and development expenses in relation
to sales to 20.4% (Q1 2012: 18.7%) is accounted for by lower sales of the
reporting quarter for the most part. Distribution expenses were slightly up
by 3.3% to 4.6 million Euro due to increased activity in the Asian region
(Q1 2012: 4.5 million Euro). As a consequence of weaker sales, the EBIT
dropped to 0.3 million Euro (Q1 2012: 1.0 million Euro). The consolidated
net income amounted to 0.4 million Euro (Q1 2012: 0.6 million Euro). This
equals basic earnings per share (EPS) of 0.02 Euro (Q1 2012: 0.03 Euro).
The operating cash flow climbed from 0.5 million Euro in the prior-year
period to 5.2 million Euro. The adjusted free cash flow (cash flow from
operating activities less capital expenditures for intangible assets and
property, plant and equipment, less payments for investments, plus disposal
of investments) also showed a positive performance, reaching 3.0 million
Euro in the first quarter of 2013 as compared to -2.8 million Euro in Q1
2012.
'The first quarter of 2013 turned out weak as expected. The ramp-up of
various products is presently reflected in the current year's order intake.
Therefore we confirm our growth forecast for the 2nd quarter 2013 onwards,'
says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.
In 2013 Elmos anticipates a sales increase in the mid single-digit
percentage range based on essentially unchanged general economic
conditions. The EBIT margin will be above the 2012 level (6.3%). The
adjusted free cash flow is expected to be positive. Capital expenditures
are budgeted to amount to no more than 15% of sales.
The complete quarterly report is available in English and German at
www.elmos.com. On May 8, 2013 at 11.00 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 selected financial figures according to IFRS (in million Euro
or percent unless otherwise indicated):
Q1/13 Q1/12 Diff.
Sales 43.1 46.9 -8.0%
Gross profit 16.8 18.2 -7.7%
Operating income -0.6 0.7 n/a
EBIT 0.3 1.0 -73.2%
Consolidated net income 0.4 0.6 -31.8%
after non-controlling interests
Earnings per share in Euro 0.02 0.03 -31.7%
(basic earnings)
Elmos Semiconductor AG is a developer and manufacturer of system solutions
on semiconductor basis. For more than 25 years, our chips have made
vehicles as well as industrial and consumer goods more performance and
power efficient.
Contact: Elmos Semiconductor AG, Janina Rosenbaum, Heinrich-Hertz-Str. 1,
44227 Dortmund, Phone: +49 231-7549-0, Extension: -287, Fax: +49
231-7549-548, invest(at)elmos.com, www.elmos.com
End of Corporate News
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07.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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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 7549-548
E-mail: invest(at)elmos.com
Internet: http://www.elmos.com
ISIN: DE0005677108
WKN: 567710
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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210096 07.05.2013
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Datum: 07.05.2013 - 22:00 Uhr
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News-ID 257266
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