Elmos Semiconductor SE

Earnings Release • Nov 6, 2012

News Details

Corporate | 6 November 2012 21:50

ELMOS Semiconductor AG: ELMOS sales affected by weakness of passenger car market

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

06.11.2012 / 21:50

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Slight sales increase expected for Q4 2012 as compared to previous quarter
Dortmund, November 6, 2012: ELMOS Semiconductor AG (FSE: ELG) generated
sales of 135.7 million Euro in the first nine months of 2012. Compared to
the prior-year period, this equals a 6.6% decrease (9M 2011: 145.3 million
Euro). Lower sales reflect the continuing weakness of the automotive
industry which has meanwhile caught up with the premium manufacturers as
well. The weakness of the European auto industry shows in the group's
regional distribution of sales. While sales generated with customers in
Europe went on a decline, Asia grew over the first nine months of 2012 by
12.2% compared to the prior-year period.

The gross margin for the nine-month period 2012 reached 40.2% (9M 2011:
45.6%). The cost cutting program launched in the spring 2012 showed
pronounced positive effects in the third quarter 2012; gross margin and
operating income margin increased quarter-on-quarter to 42.2% and 3.1%
respectively (Q2 2012: 39.6% and 0.8%). An EBIT of altogether 5.7 million
Euro was generated in the first nine months of 2012 (9M 2011: 19.1 million
Euro). The consolidated net income came to 4.5 million Euro, equivalent to
basic earnings per share of 0.23 Euro (9M 2011: 13.8 million Euro and 0.71
Euro respectively). The adjusted free cash flow was close to neutral on
nine-month basis (-0.1 million Euro; 9M 2011: 9.7 million Euro).

'The situation in the European economic area is getting more difficult and
continues to determine the sales of our automotive customers,' says Dr.
Anton Mindl, CEO of ELMOS Semiconductor AG. 'In contrast to the present
market situation, however, ELMOS expects a slight sales increase in Q4 2012
compared to the previous quarter because of product ramp-ups.'

Due to the weak economic development in the course of the year, emphasized
particularly during the last few weeks, ELMOS now anticipates sales
slightly above 180 million Euro for the full year 2012. The cost cutting
program will be continued. An EBIT margin of roughly 6% is expected for
2012. Capital expenditures are budgeted to come to less than 15% of sales.
The adjusted free cash flow will be positive.

The complete interim report is available in English and German at
www.elmos.com. On November 7, 2012 at 11.00 a.m. (CET), 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):

             Q3/12 Q3/11 Diff. 9M/12 9M/11 Diff.

Sales 43.3 48.0 -9.9% 135.7 145.3 -6.6%
Gross profit 18.3 23.1 -20.9% 54.5 66.2 -17.6%
Operating income 1.3 6.3 -78.6% 2.4 17.1 -86.1%
EBIT 1.4 6.9 -79.3% 5.7 19.1 -69.9%
Consolidated net income
after non-controlling
interests 1.0 5.3 -81.0% 4.5 13.8 -67.1%
Basic earnings per
share (Euro) 0.05 0.27 0.23 0.71

ELMOS Semiconductor AG is a developer and manufacturer of system solutions
on semiconductor basis. For more than 25 years, our chips have made
vehicles 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: 0231-7549-0, Extension: -287, Fax: 0231-7549-548,
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.com
Internet: http://www.elmos.com
ISIN: DE0005677108
WKN: 567710
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart

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