Elmos Semiconductor SE

Earnings Release • Aug 8, 2012

News Details

Ad-hoc | 8 August 2012 19:15

ELMOS Semiconductor AG: Weak auto market determines sales level

ELMOS Semiconductor AG / Key word(s): Half Year Results/Interim Report

08.08.2012 19:15

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ELMOS Semiconductor AG (FSE: ELG) generated lower sales in the first
half-year 2012 in comparison with the prior-year period. At 92.4 million
Euro, sales are 5.1% below the prior-year mark (HY1 2011: 97.3 million
Euro). As expected, the business continues to be determined by the
pronounced weakness of the non-premium manufacturers.

Therefore the semiconductor business which focuses on the automotive
industry posted a disproportionately large decline to 82.5 million Euro
(HY1 2011: 89.0 million Euro). This part of the business is also affected
by customers' product generation changes. Contrary to that, the satisfying
development of the Asian business has been keeping up continuously.
Consolidated sales in this region climbed 27.2% compared to the 1st
half-year 2011. The micromechanics segment, supplying different business
sectors, also managed to continue the positive trend and recorded an
increase in sales of 18.3% to 9.9 million Euro.

Due to the weak sales performance, a cost savings program was implemented
in the second quarter of 2012. The measures have taken effect since the
middle of the second quarter. With respect to the first half-year, the
gross margin reached 39.2% (HY1 2011: 44.3%). The EBIT came to an amount of
4.3 million Euro (HY1 2011: 12.2 million Euro). The EBIT margin was 4.7% in
the reporting period (HY1 2011: 12.5%). The consolidated net income
amounted to 3.5 million Euro, equivalent to earnings per share of 0.18 Euro
(HY1 2011: 8.5 million Euro or 0.44 Euro). The adjusted free cash flow was
-3.3 million Euro (HY1 2011: 6.1 million Euro).

ELMOS feels the effect of the continuing difficult situation of the EU auto
market in sales and incoming orders. However, ELMOS sees positive prospects
from the fourth quarter of 2012. A number of project ramp-ups will support
the level of sales. Apart from these pleasant developments soon to take
place, the management feels optimistic for the medium term on account of
the so far successful acquisition of projects involving all product lines
in 2012.

Because of the continuing market weakness, ELMOS expects sales for the full
year 2012 to turn out slightly below the prior-year level. The savings
program will be continued through the 2nd half-year 2012 and will have a
positive impact. An EBIT margin in the high single-digit percentage range
remains the target. Capital expenditures are scheduled to be less than 15%
of sales for the full year. The adjusted free cash flow will be positive.

Contact: ELMOS Semiconductor AG, Janina Rosenbaum, Heinrich-Hertz-Str. 1,
44227 Dortmund, Telephone: 0231-7549-0, Direct: -287, Fax: 0231-7549-548,
eMail: info@elmos.com, www.elmos.com

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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: invest@elmos.com
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 Announcement DGAP News-Service

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