Earnings Release • Mar 19, 2013
Earnings Release
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Corporate | 19 March 2013 09:20
Elmos Semiconductor AG: Cash flow 2012 positive as predicted
ELMOS Semiconductor AG / Key word(s): Final Results
19.03.2013 / 09:20
7.3 million Euro adjusted free cash flow despite weakness in Europe
Dortmund, March 19, 2013: Elmos Semiconductor AG (FSE: ELG) achieved a positive adjusted free cash flow in the amount of 7.3 million Euro (2011: 10.7 million Euro) in spite of the sales decline in 2012. At 39.3 million Euro as of December 31, 2012, net cash reached a new record high (December 31, 2011: 35.7 million Euro).
Sales went down to 180.1 million Euro (2011: 194.3 million Euro) because of the continued weakness of the European auto market. The gross profit went down to 76.1 million Euro (2011: 89.6 million Euro), equivalent to a gross margin of 42.2% (2011: 46.1%). The EBIT reached 11.4 million Euro or 6.3% of sales (2011: 26.6 million Euro or 13.7%). The consolidated net income was 8.0 million Euro (2011: 18.9 million Euro). Basic earnings per share (EPS) dropped to 0.41 Euro compared to 0.98 Euro in the previous year.
In line with the policy of aiming at continuity in dividends and because the weaker financial development in 2012 is considered merely temporary, Management Board and Supervisory Board will propose to the Annual General Meeting on May 24, 2013 to pay a dividend of 0.25 Euro per share.
'We managed to further strengthen our financial foundation despite the sales decline. The success in acquiring new business shows that we are part of our customers' future plans. This opens up good opportunities for growth in the medium term,' says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.
2013 had a rather slow start. However, Elmos expects considerable stimulation of growth to begin in the second quarter of 2013. Elmos anticipates a sales increase in the mid single-digit percentage range for 2013. The EBIT margin will be above the level of 2012 (6.3%). The adjusted free cash flow is expected to be positive. Capital expenditures are scheduled not to exceed 15% of sales.
Overview of selected financial figures according to IFRS (in million Euro or percent unless otherwise indicated):
| 2012 | 2011 | Difference | Q4/12 | Q4/11 | Difference | |
| Sales | 180.1 | 194.3 | -7.3% | 44.4 | 49.0 | -9.3% |
| Gross profit | 76.1 | 89.6 | -15.1% | 21.6 | 23.4 | -7.9% |
| Operating income | 7.5 | 24.2 | -69.1% | 5.1 | 7.1 | -27.8% |
| EBIT | 11.4 | 26.6 | -57.2% | 5.6 | 7.5 | -24.8% |
| Consolidated net income | 8.0 | 18.9 | -57.7% | 3.5 | 5.2 | -32.3% |
| Earnings per share in Euro (basic earnings) | 0.41 | 0.98 | 0.18 | 0.27 |
Elmos Semiconductor AG is a developer and manufacturer of system solutions on semiconductor basis. For more than 25 years, our chips have made automobiles 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 (0)231-7549-0, extension: -287, fax: +49 (0)231-7549-548, [email protected], www.elmos.com
End of Corporate News
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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: | [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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| 204314 19.03.2013 |
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