Elmos Semiconductor AG: Positive sales development at the start of the year
Q1 2017: Sales +13.1% - EBIT margin 7.7%
Dortmund, May 4, 2017: Elmos Semiconductor AG (FSE ELG) succeeded in increasing sales by 13.1% year on year to 60.8 million Euro in the first quarter of 2017. In addition to strong demand in portfolio business and dynamic ramp-ups, Elmos also benefited from positive calendar effects compared to the previous year. EBIT stood at 4.7 million Euro, corresponding to an EBIT margin of 7.7%. Capital expenditures amounted to 7.4 million Euro, or 12.2%, in the reporting period. The Company also generated positive adjusted free cash flow of 1.4 million Euro.
"Elmos is off to a good start in 2017. Both Asia and Europe show intact growth trends encouraging me to take a positive view of the full year ahead," says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.
As announced in February, Elmos expects year-on-year sales growth in the upper single-digit percentage range in 2017. The EBIT margin is likely to improve slightly year on year in 2017 (2016: 10.1%). The capex ratio is scheduled to be less than 12% of sales. Adjusted free cash flow will be positive. The forecast is based on an exchange rate of 1.10 USD/EUR.
Overview of key financials according to IFRS (in million Euro or percent unless otherwise indicated):
Q1/17 Q1/16 Diff. Sales 60.8 53.7 13.1% Gross profit 24.7 19.7 25.4% Gross margin in % 40.7% 36.7% Research and development 9.7 9.0 7.7% Operating income 4.6 0.7 >100% EBIT 4.7 0.8 >100% EBIT margin in % 7.7% 1.5% Consolidated net income after non-controlling interests 2.9 0.3 >100% Basic earnings per share (Euro) 0.15 0.02 >100% Capital expenditures for intangible assets and property, plant and equipment 7.4 8.6 -14.2% Capital expenditures in % 12.2% 16.0% Adjusted free cash flow* 1.4 -0.6 n/a * Cash flow from operating activities less capital expenditures for/plus disposal of intangible assets and property, plant and equipment
Further information regarding the first quarter 2017 of the Elmos Semiconductor AG can be found in the quarterly statement. This is available at www.elmos.com. Please note that Elmos changed the reporting format from a quarterly report to a quarterly statement.
About Elmos Semiconductor AG
Elmos develops, produces and markets semiconductors and sensors, primarily for use in the automotive industry. Our components communicate, measure, regulate and control safety, comfort, powertrain and network functions. For over 30 years, Elmos innovations have been bringing new functions to life and making mobility worldwide safer, more comfortable and more energy efficient.
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.
04.05.2017 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.deLanguage: 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: firstname.lastname@example.org 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, Tradegate Exchange End of News DGAP News Service