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Elmos Semiconductor SE
Earnings Release • Feb 18, 2016
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Earnings Release
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Corporate | 18 February 2016 07:30
Elmos Semiconductor AG: Solid sales growth in 2015
DGAP-News: Elmos Semiconductor AG / Key word(s): Preliminary Results/Forecast
2016-02-18 / 07:30
The issuer is solely responsible for the content of this announcement.
EBIT margin increased to 11.2% – Moderate sales growth expected for 2016
Dortmund, February 18, 2016: Elmos Semiconductor AG (FSE: ELG) has increased sales as well as earnings before interest and taxes in the past financial year 2015 and met the forecast targets, according to preliminary unaudited financials.
Sales for the full year 2015 were up 4.8% to 219.6 million Euro (2014: 209.5 million Euro). With a 23.1% growth in 2015, the performance of the Asia/Pacific region was once again significantly stronger compared to the other markets. The gross profit reached 91.6 million Euro; this equals a gross margin of 41.7% (2014: 91.4 million Euro or 43.6%). Gross profit was negatively affected by the strong U.S. dollar in the year 2015. Operating expenses were slightly down to 33.5% in relation to sales (2014: 34.4%). In the course of the year, the EBIT was increased by 8.7% to 24.5 million Euro or rather by 0.4 percentage points to an EBIT margin of 11.2% (2014: 22.6 million Euro or 10.8%). The EBIT benefited from one-off effects. Consolidated net income amounted to 16.2 million Euro, equivalent to earnings per share (EPS) of 0.82 Euro (2014: 18.3 million Euro or 0.94 Euro). The prior-year net income benefited from one-off tax effects.
Sales of the fourth quarter of 2015 in the amount of 55.3 million Euro were slightly ahead of both the previous quarter’s and the prior-year quarter’s sales figures (Q3 2015: 54.6 million Euro, Q4 2014: 53.5 million Euro). The gross margin stabilized in the course of the year 2015 and reached 42.0% in the quarter under review after 41.3% in the third quarter of 2015. The EBIT margin moved only slightly compared to the previous quarter at 12.6% in the fourth quarter of 2015 (Q3 2015: 12.9%). Elmos achieved a quarterly net income of 4.4 million Euro in the fourth quarter of 2015 after 4.7 million Euro in the third quarter of 2015.
Due to the sustained positive business performance, Supervisory Board and Management Board will propose to the Annual General Meeting to be held in May 2016 a dividend payment of again 0.33 Euro per share.
“2015 became a difficult year for the car manufacturers particularly during its second half. Against this backdrop we are still satisfied with the performance of Elmos. On a positive note, Elmos managed to exceed the project acquisition targets defined for 2015 even in this difficult market environment and won more than 20 new customers,” says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. “2016 will probably be another challenging year for the global car market; especially in Europe and the U.S. only slow growth is to be expected.”
In 2016 sales will be affected by the expected weak worldwide increase in new car registrations and the Company’s earnings will be influenced by the strong U.S. dollar. Elmos therefore anticipates a sales growth of between 2% and 6% in 2016 compared to the previous year. The EBIT margin is expected to reach roughly 10%. The capital expenditures ratio is scheduled to be lower than 12% of sales. Elmos will also generate a positive adjusted free cash flow once again.
Final financial figures and the complete Annual Report for the year 2015 will probably be released on March 16, 2016. That same day, Elmos will also hold a conference call at 9:30 a.m. (CET) for analysts and investors (in English). The conference call will later be downloadable from the website.
Overview of selected preliminary and unaudited financial figures according to IFRS (in million Euro or percent unless otherwise indicated):
| 2015 | 2014 | difference | Q4/15 | Q4/14 | difference | |
| Sales | 219.6 | 209.5 | 4.8% | 55.3 | 53.5 | 3.5% |
| Gross profit | 91.6 | 91.4 | 0.2% | 23.3 | 24.3 | -4.3% |
| Operating income | 18.1 | 19.4 | -6.8% | 5.6 | 6.4 | -13.1% |
| EBIT | 24.5 | 22.6 | 8.7% | 7.0 | 8.2 | -14.6% |
| EBIT margin in % | 11.2% | 10.8% | 12.6% | 15.3% | ||
| Consolidated net income after non-controlling interests | 16.2 | 18.3 | -11.4% | 4.4 | 6.3 | -29.6% |
| Basic earnings per share (Euro) | 0.82 | 0.94 | 0.22 | 0.32 |
Elmos Semiconductor AG is a developer and manufacturer of system solutions on semiconductor basis. For more than 30 years, 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
2016-02-18 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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Media archive at www.dgap-medientreff.de and www.dgap.de
| 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 |