Earnings Release • Aug 6, 2014
Earnings Release
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Corporate | 6 August 2014 19:20
Elmos Semiconductor AG: Strong growth in sales and earnings in the 1st half-year 2014
Elmos Semiconductor AG / Key word(s): Half Year Results/Change in Forecast
06.08.2014 / 19:20
Sales +12.3% – Forecast slightly raised
Dortmund, August 6, 2014: Elmos Semiconductor AG (FSE: ELG) showed a positive performance in sales and earnings in the course of the year 2014 so far. Compared to the prior-year period, sales were up 12.3% to 101.3 million Euro in the 1 st half-year 2014. Comparing quarters year-over-year, sales gained 10.3% on the prior-year quarter (Q2 2013: 47.1 million Euro) and 5.2% on the previous quarter (Q1 2014: 49.4 million Euro) by reaching 51.9 million Euro in the quarter under review. Elmos key sales markets Europe (+6.6%) and particularly Asia/Pacific (+17.3%) contributed to the sales increase in the first half-year 2014.
The gross profit came to 42.1 million Euro or 41.6% of sales in the first half-year 2014 (HY1 2013: 35.2 million Euro or 39.0%). Operating expenses remained virtually unchanged at 34.9 million Euro (HY1 2013: 35.3 million Euro). Earnings before interest and taxes (EBIT) climbed to 8.3 million Euro in the first six months (HY1 2013: 1.8 million Euro). The consolidated net income amounted to 8.1 million Euro (HY1 2013: 1.5 million Euro). This equals basic earnings per share of 0.42 Euro (HY1 2013: 0.08 Euro).
The improved business situation also reflects in the operating cash flow, exceeding the prior-year amount significantly with 19.3 million Euro in the first half-year 2014 (HY1 2013: 6.7 million Euro). Despite considerable capital expenditures for the conversion of production and capacity expansion in the amount of 17.7 million Euro (HY1 2013: 8.7 million Euro), a positive adjusted free cash flow of 1.6 million Euro (HY1 2013: -0.2 million Euro) was generated.
“The 2014 business performance makes us feel optimistic. The conversion of our production is on time in spite of high capacity utilization,” says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. “With the capital expenditures we made, we are well positioned for further growth.”
Elmos slightly raises its forecast for 2014. Management is now expecting sales growth and EBIT margin to range between 9 and 12% respectively (previously: upper single-digit percentage range). Capital expenditures for intangible assets and property, plant and equipment are budgeted to amount to no more than 15% of sales in 2014. Management further assumes that Elmos will generate a positive adjusted free cash flow once again.
The complete half-year report is available in English and German at www.elmos.com. On August 7, 2014 at 11:30 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 financial figures according to IFRS (in million Euro or percent unless otherwise indicated):
| Q2/14 | Q2/13 | Diff. | HY1/14 | HY1/13 | Diff. | |
| Sales | 51.9 | 47.1 | 10.3% | 101.3 | 90.2 | 12.3% |
| Gross profit | 21.5 | 18.3 | 17.4% | 42.1 | 35.2 | 19.6% |
| EBIT | 5.1 | 1.6 | >100% | 8.3 | 1.8 | >100% |
| EBIT margin | 9.8% | 3.3% | 8.2% | 2.0% | ||
| Consolidated net income after non-controlling interests | 4.0 | 1.1 | >100% | 8.1 | 1.5 | >100% |
| Basic earnings per share (Euro) | 0.21 | 0.05 | 0.42 | 0.08 |
Elmos Semiconductor AG is a developer and manufacturer of system solutions on semiconductor basis. For about 30 years now, 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, Germany, phone: +49 231-7549-0, extension: -287, fax: +49 231-7549-548, [email protected], www.elmos.com
06.08.2014 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 7549-548 |
| E-mail: | [email protected] |
| 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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| 281130 06.08.2014 |
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