Earnings Release • Feb 19, 2013
Earnings Release
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Corporate | 19 February 2013 21:30
ELMOS Semiconductor AG: Elmos provides continuity in dividends for 2012
ELMOS Semiconductor AG / Key word(s): Preliminary Results/Dividend
19.02.2013 / 21:30
0.25 Euro per share proposed – Weakness in Europe affects the financial year
Dortmund, February 19, 2013: Sales of Elmos Semiconductor AG (FSE: ELG) were on the decline in the past financial year, according to preliminary and unaudited figures, coming to 180.1 million Euro (2011: 194.3 million Euro). The pleasant growth achieved in Asia (+6.0%) and the U.S.A. (+14.2%) could not entirely compensate the continued weakness in Europe due to the higher portion of Elmos sales generated in the European Union.
The gross profit went down to 76.1 million Euro (2011: 89.6 million Euro). This is equivalent to a gross margin of 42.2% (2011: 46.1%). The cost cutting program launched in April 2012 throughout the group has had positive effects on earnings and compensated the effect of underutilization caused by the lower sales level in part. The EBIT reached 11.4 million Euro and equaled an EBIT margin of 6.3% (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.
'The quality of earnings showed a pleasant development near the end of 2012, partly a result of the cost cutting program. Moreover, Elmos achieved a new record in the acquisition of new projects over the past financial year,' says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. 'Therefore Elmos looks to the future with optimism despite the weakness in Europe. This confidence also finds expression in the dividend proposal for 2012.'
Even though 2013 rather had a slow start, we are expecting considerable stimulation of growth to begin in the second quarter of 2013. Elmos has the right products for future growth and thus assumes a sales increase in the mid single-digit percentage range in 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 preliminary and unaudited 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% |
| Net income | 8.0 | 18.9 | -57.7% | 3.5 | 5.2 | -32.3% |
| Basic earnings per share in Euro | 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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| 201849 19.02.2013 |
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