Elmos Semiconductor SE

Earnings Release • May 3, 2012

News Details

Ad-hoc | 3 May 2012 20:15

ELMOS Semiconductor AG: Market uncertainty determines first quarter 2012

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

03.05.2012 20:15

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ELMOS Semiconductor AG (FSE: ELG) generated slightly weaker sales in the
first quarter of 2012 compared to the prior-year period. Sales for the
first three months of 2012 amounted to 46.9 million Euro (Q1 2011: 48.1
million Euro). The semiconductor segment is affected in particular by the
high level of uncertainty in the industry, especially among the non-premium
carmakers. Furthermore, some high-volume projects undergo a generation
change at present. Influenced by these factors, semiconductor sales went
down to 41.9 million Euro (Q1 2011: 44.0 million Euro). In contrast to
that, the micromechanics business recorded a positive performance with a
sales growth of 21.0% to 5.0 million Euro.

Essentially as a consequence of higher cost for the assembly of the
products, expenses incurred for the 8-inch conversion that were higher than
scheduled, and increased energy costs, the gross profit went down 12.4% to
18.2 million Euro (Q1 2011: 20.8 million Euro). This equals a gross margin
of 38.9% (Q1 2011: 43.3%). Research and development efforts were increased
as scheduled and amounted to 8.8 million Euro compared to 8.2 million Euro
in the prior-year period. Also on schedule were the higher sales expenses
(Q1 2012: 4.5 million Euro vs. Q1 2011: 3.5 million Euro), principally on
account of the new Asian locations. Earnings before interest and taxes
(EBIT) dropped accordingly to 1.0 million Euro (Q1 2011: 5.8 million Euro).
The net income came to 0.6 million Euro, equivalent to earnings per share
of 0.03 Euro (Q1 2011: 4.1 million Euro and 0.21 Euro, respectively). The
adjusted free cash flow was -2.8 million Euro (Q1 2011: 6.2 million Euro).

In order to reduce cost of sales, a bundle of measures was launched in
April 2012. Together with the expected higher sales, this will lead to a
significantly improved earnings situation in the second half-year 2012.

Positive developments in the first quarter 2012 worth pointing out are the
successful project acquisition and the response to ELMOS products, also in
Asia. Orders of motor driver, sensor readout, microsystem and communication
solutions in particular indicate the competitiveness of the ELMOS product
portfolio.

Based on an unchanged economic framework, ELMOS continues to expect 2012
sales at the level of 2011. The EBIT margin is scheduled to be in the high
single-digit percentage range. Capital expenditures are budgeted to come to
less than 15% of sales. The 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.de
Internet: http://www.elmos.de
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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