Elmos Semiconductor SE

Earnings Release • Sep 27, 2001

News Details

Ad-hoc | 27 September 2001 21:15

ELMOS Semiconductor AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Worldwide weak markets slow down growth In the face of difficult market conditions ELMOS Semiconductor AG has revised the projected figures for the year 2001. For the running fiscal year the Company expects a total sales of about EURO 107 million and an income before taxes of around EURO 20 million, representing 18% of sales. The industry-wide over-proportional demand for semiconductors in the year 2000 led many customers to a massive build-up of stock-piles. As a result of declining markets for communication and data processing systems the semiconductor industry experienced a significant down turn in sales. Nevertheless ELMOS was able to close the first half-year 2001 in-line with its budget. Originally planned sales resulting from the successfully completed development of a LCD driver chip for mobile handsets can not be realized this year. The automobile market for high-end cars, which has been performing well, may be influenced by the terrorist attack in the U.S.A. in a negative way, because the consumer’s behavior may change. In addition, some of the expected phase-out of some of ELMOS’ older key-products can not be compensated by the planned ramp-up of new ELMOS’ products. In addition to the missing sales, the acquisitions of EURASEM B.V. (NL) and SMI Inc. (U.S.A.) are decreasing ELMOS’ profit margins. EURASEM lost a key customer due to the weak telecom market and SMI suffers from the drastic cool-down in the U.S. economy. The necessary restructuring of both companies is proceeding as scheduled and will be finished in the year 2002. The Company expects total sales in the range of EURO 110 – 125 million in the year 2002. This includes a 10% contribution from telecom products, which are expected in the second half of the year. The pre-tax profit-margin is estimated to increase to 19% of total sales. The very successful additions of new design-wins in the years 2000 and 2001 could add a significant contribution to sales beginning in the year 2003. The expectation of 2003 sales is between EURO 127 and 143 million. The pre-tax profit-margin will likely be increased to 25% of sales. ELMOS AG; Heinrich-Hertz-Str. 1; D-44227 Dortmund; Germany Phone: +49 – 231-7549-0; Fax: +49 – 231-7549-548 ; invest@elmos.de end of ad-hoc-announcement (c)DGAP 27.09.2001 ——————————————————————————– WKN: 567710; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 272115 Sep 01