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Elmos Semiconductor SE
Earnings Release • Nov 8, 2016
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Earnings Release
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Corporate | 8 November 2016 07:30
Elmos Semiconductor AG: Positive business performance in the third quarter of 2016
DGAP-News: Elmos Semiconductor AG / Key word(s): 9-month figures
2016-11-08 / 07:30
The issuer is solely responsible for the content of this announcement.
Sales: +3.3%, EBIT margin: 11.2% – Guidance confirmed
Dortmund, November 8, 2016: In the third quarter of 2016 Elmos Semiconductor AG (FSE: ELG) achieved a sales increase of 3.3% over the prior-year period to 56.4 million Euro (Q3 2015: 54.6 million Euro). Earnings also show a positive trend in the course of the year. The gross profit went up to 24.4 million Euro or a gross margin of 43.2% (Q3 2015: 22.5 million Euro or 41.3%). Growth of the EBIT was disproportionately high in relation to sales and came to 6.3 million Euro, equivalent to an EBIT margin of 11.2% (Q3 2015: 7.1 million Euro; 12.9%). Consolidated net income amounted to 4.1 million Euro for the third quarter of 2016 (Q3 2015: 4.7 million Euro) so that basic earnings per share were 0.21 Euro for the quarter under review (Q3 2015: 0.24 Euro).
In the first nine months of 2016 sales grew slightly by 0.5% to 165.1 million Euro (9M 2015: 164.3 million Euro). The gross margin was 40.8% compared to 41.6% in the prior-year period. EBIT reached 11.9 million Euro or a margin of 7.2% (9M 2015: 17.5 million Euro or 10.7%). Consolidated net income amounted to 7.7 million Euro as compared to 11.8 million Euro in the first nine months of 2015. Accordingly basic earnings per share came to 0.39 Euro (9M 2015: 0.60 Euro).
The positive business performance is also reflected in the cash flow. The operating cash flow was 12.0 million Euro in the third quarter of 2016 (Q3 2015: 15.6 million Euro). Capital expenditures for intangible assets and property, plant and equipment went down significantly in the quarter under review and came to 2.4 million Euro or 4.2% of sales (Q3 2015: 7.6 million Euro or 14.0% of sales). The adjusted free cash flow* amounted to 9.8 million Euro (Q3 2015: 8.0 million Euro).
Based on the first nine months, the operating cash flow came to 20.2 million Euro (9M 2015: 31.9 million Euro), capital expenditures amounted to 19.6 million Euro or 11.8% of sales (9M 2015: 21.9 million Euro or 13.3%) and the adjusted free cash flow reached 0.7 million Euro (9M 2015: 11.0 million Euro).
“The third quarter of 2016 was in line with our expectations. The customer orders we have received indicate a strong final quarter,” says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.
Elmos confirms its 2016 guidance and keeps expecting an increase in sales from 2% to 6% compared to the previous year. The EBIT margin is expected to be about 10%. The capex ratio is scheduled to be less than 12% of sales. Furthermore, Elmos will generate a positive adjusted free cash flow* once again. The forecast is based on an exchange rate of 1.10 USD/EUR.
The complete interim report is available in German and English at www.elmos.com. On November 8, 2016 at 11.30 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 key financials according to IFRS (in million Euro or percent unless otherwise indicated):
| Q3/16 | Q3/15 | Diff. | 9M/16 | 9M/15 | Diff. | |
| Sales | 56.4 | 54.6 | 3.3% | 165.1 | 164.3 | 0.5% |
| Gross profit | 24.4 | 22.5 | 8.2% | 67.3 | 68.3 | -1.5% |
| EBIT | 6.3 | 7.1 | -10.6% | 11.9 | 17.5 | -32.2% |
| EBIT margin | 11.2% | 12.9% | 7.2% | 10.7% | ||
| Consolidated net income after non-controlling interests | 4.1 | 4.7 | -13.3% | 7.7 | 11.8 | -34.3% |
| Basic earnings per share (Euro) | 0.21 | 0.24 | 0.39 | 0.60 |
* Cash flow from operating activities less capital expenditures for / plus disposal of intangible assets and property, plant and equipment; prior-year amount adjusted according to new definition
Elmos Semiconductor AG is a developer and manufacturer of system solutions on semiconductor basis. For more than 30 years now, our chips have made vehicles as well as industrial and consumer goods more efficient in terms of energy consumption and performance.
Contact: Elmos Semiconductor AG, Thalea Willms, Heinrich-Hertz-Str. 1, 44227 Dortmund, Germany, phone: +49 231-7549-0, extension: -273, fax: 0231-7549-111, [email protected], www.elmos.com
2016-11-08 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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 7549-111 |
| E-mail: | [email protected] |
| Internet: | http://www.elmos.com |
| ISIN: | DE0005677108 |
| WKN: | 567710 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |