Earnings Release • Aug 9, 2011
Earnings Release
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Corporate | 9 August 2011 20:50
ELMOS Semiconductor AG: Sales and earnings increased again in Q2 2011
ELMOS Semiconductor AG / Key word(s): Half Year Results/Quarter Results
09.08.2011 / 20:50
Sales up 6.0%, EBIT climbs 33.6%
Dortmund, August 9, 2011: ELMOS Semiconductor AG (FSE: ELG) has achieved further growth in sales and net income in the 2 nd quarter of 2011. Compared to the prior-year quarter, sales of the 2 nd quarter 2011 gained 6.0% and reached 49.2 million Euro (Q2 2010: 46.4 million Euro). Earnings increased in comparison with the 2 nd quarter of 2010, significantly in part. The gross margin grew from 43.4% to 45.3%, the EBIT margin climbed to 12.9% (Q2 2010: 10.2%), and the net income improved to 4.4 million Euro (Q2 2010: 2.6 million Euro), equivalent to basic earnings per share of 0.23 Euro (Q2 2010: 0.14 Euro).
Compared to the 1 st half-year 2010, sales grew by 8.4% to 97.3 million Euro (HY1 2010: 89.8 million Euro). Adjusted by sales of the special packaging business sold as of December 31, 2010, the 1 st half-year 2011 increased even by 12.0% compared to the prior-year period. The gross profit grew by 12.9% over the same period to 43.1 million Euro (HY1 2010: 38.2 million Euro). The EBIT soared 48.1% to 12.2 million Euro (HY1 2010: 8.2 million Euro) and the net income also grew considerably by 61.3% to 8.5 million Euro (HY1 2010: 5.3 million Euro).
The disproportionate growth in earnings in relation to sales is due essentially to the higher capacity utilization. The EBIT margin went up despite increased efforts in development and distribution.
'ELMOS has reached important milestones over the past months. Our South Korean cooperation partner MagnaChip started series deliveries for the automotive industry, the conversion and expansion of our Dortmund manufacturing site has made substantial progress, and last not least, the investment in TetraSun opens up new options for the future,' says Dr. Anton Mindl, CEO of ELMOS Semiconductor AG. 'We have also made considerable headway with our stated goal to advance the expansion of our business in Asia by establishing own branches in these markets as well as by contracting additional distributors.'
The forecast of March 2011 is confirmed. Based on a stable economy, ELMOS continues to expect sales between 190 and 200 million Euro for 2011 in spite of a recent slowdown in the dynamics of customers' order behavior. The EBIT margin of 2011 will reach or slightly exceed the 2010 level (12.5%).
The complete 6-month report is available in English and German at www.elmos.de. On August 10, 2011 at 11.00 a.m. (CEST), ELMOS will hold a conference call (in English) for analysts and investors. The conference call will later be downloadable from the company's website.
Overview of financial figures according to IFRS (in million Euro or percent unless otherwise indicated):
| Q2/11 | Q2/10 | Diff. | HY1/11 | HY1/10 | Diff. | |
| Sales | 49.2 | 46.4 | 6.0% | 97.3 | 89.8 | 8.4% |
| Gross profit | 22.3 | 20.1 | 10.8% | 43.1 | 38.2 | 12.9% |
| Operating income | 5.9 | 4.4 | 34.1% | 10.9 | 8.1 | 33.8% |
| EBIT | 6.3 | 4.7 | 33.6% | 12.2 | 8.2 | 48.1% |
| Net income | 4.4 | 2.6 | 67.7% | 8.5 | 5.3 | 61.3% |
| Basic earnings per share (Euro) | 0.23 | 0.14 | 68.5% | 0.44 | 0.27 | 62.2% |
ELMOS Semiconductor AG is a developer and manufacturer of semiconductor-based system solutions. Our chips have made automobiles as well as industrial and consumer goods more performance and power efficient for more than 25 years.
Contact: ELMOS Semiconductor AG, Janina Rosenbaum, Heinrich-Hertz-Str. 1, 44227 Dortmund, phone: +49 231-7549-0, extension: -287, fax: +49 231-7549-548, e-mail: [email protected], www.elmos.de
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.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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| 135018 09.08.2011 |
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