Elmos Semiconductor SE

Earnings Release • Mar 15, 2012

News Details

Corporate | 15 March 2012 08:30

ELMOS Semiconductor AG: 2011 quality of earnings improved

ELMOS Semiconductor AG / Key word(s): Final Results/Forecast

15.03.2012 / 08:30

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Financial position strengthened - positive free cash flow

Dortmund, March 15, 2012: ELMOS Semiconductor AG (FSE: ELG) increased sales
as well as profitability again in the past fiscal year 2011. Sales climbed
to the new record level of 194.3 million Euro, equivalent to a growth of
8.8% adjusted by the sale of the packaging business as of the end of 2010
(adjusted 2010 sales: 178.6 million Euro). Without consideration of this
divestiture, sales gained 5.2% (2010: 184.7 million Euro). The EBIT
(earnings before interest and taxes) rose to 26.6 million Euro (2010: 23.1
million Euro). This result equals an EBIT margin of 13.7% of sales (2010:
12.5%). The group's net income reached 18.9 million Euro, or a margin of
9.7% of sales, thus corresponding with basic earnings per share of 0.98
Euro - yet another record amount achieved since the IPO.

Research and development expenses grew by 9.8%, disproportionately in
relation to sales, to 32.5 million Euro in 2011 (2010: 29.6 million Euro).
The main reason is new staff in design. This scheduled competence
enhancement addresses new applications and new regional markets. The
increase in distribution expenses from 12.6 million Euro in 2010 by 28.4%
to 16.2 million Euro in the reporting period is also primarily accounted
for by additional employees, hired particularly for expanding our presence
in Asia. Administrative expenses in 2011 dropped 6.0% to 16.7 million Euro
(2010: 17.8 million Euro).

At 10.7 million Euro, the adjusted free cash flow showed a sustained
positive performance in 2011 (2010: 20.2 million Euro). Cash and cash
equivalents as well as marketable securities amounted to 76.5 million Euro
(December 31, 2010: 67.3 million Euro).

Supervisory Board and Management Board propose to the Annual General
Meeting the distribution of a dividend in the amount of 0.25 Euro per share
(2011: 0.20 Euro per share).

'Due to the consistent implementation of our strategy over the past years,
ELMOS has grown into a financially strong company with a wealth of
know-how,' says Dr. Anton Mindl, CEO of ELMOS Semiconductor AG. 'The
deciding topics for 2012 will be innovations in the product and technology
portfolio, our activities in Asia, and the global economic situation.'

Based on the slow start of the new fiscal year, ELMOS anticipates 2012
sales on the level of 2011. ELMOS will continue the increased commitment to
distribution and development, especially in Asia. This will affect
profitability in 2012 compared to 2011. Capital expenditures are scheduled
to be less than 15% of sales. The free cash flow will be positive.

The complete annual report for fiscal year 2011 is available at
www.elmos.com. On March 15, 2012 at 9.30 a.m. (CET), ELMOS will hold an
analysts' conference per webcast (in English). The conference will later be
downloadable from the website. At 11.30 a.m. (CET), the annual press
conference will be held in Dortmund.

Overview of selected financial figures according to IFRS (in million Euro
or percent unless otherwise indicated):

                       2011   2010   Diff.    Q4/11  Q4/10  Diff.

Sales 194.3 184.7 5.2% 49.0 48.6 0.8%
Gross profit 89.6 83.8 7.0% 23.4 23.2 0.8%
Operating income 24.2 23.8 1.8% 7.1 8.0 -12.0%
EBIT 26.6 23.1 15.1% 7.5 7.5 0.0%
Net income 18.9 17.8 6.6% 5.2 7.3 -29.3%
Earnings per share in Euro 0.98 0.92 0.27 0.38
(basic)
Adjusted free cash flow* 10.7 20.2 -47.1% 5.8 9.2 -37.0%

* Cash flow from operating activities less capital expenditures for
intangible assets, less capital expenditures for property, plant and
equipment, less payments for investments, plus disposal of investments

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: +49 231-7549-0, Extension: -287, Fax: +49
231-7549-548, info@elmos.com, 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: 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 News DGAP News-Service

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