Quarterly Report • Nov 25, 2010
Quarterly Report
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3rd Quarter 2010 (unaudited in accordance with IFRS)
| Foreword/Course of Business | 5 |
|---|---|
| Silicon Sensor Group Business Areas | 7 |
| Business Performance in the Third Quarter of 2010 | 7 |
| Outlook | 9 |
| Consolidated Interim Balance Sheet – Assets | 10 |
|---|---|
| Consolidated Interim Balance Sheet – Liabilities | 11 |
| Consolidated Interim Income Statement | 12 |
| Consolidated Cash Flow Statement | 13 |
| Equity Change Statement | 14 |
| Notes on the Group´s Interim Statement | 15 |
| (in €1,000 unless otherwise specified) | 1/01/2010 - 9/30/2010 | 1/01/2009 -9/30/2009 | Change % |
|---|---|---|---|
| Sales | 32,283 | 20,905 | 54 |
| Backlog of orders | 22,165 | 13,137 | 69 |
| Result of operating activities before depreciation (EBITDA) |
4,956 | 1,130 | 339 |
| Result of operating activities (EBIT) | 2,517 | -1,499 | 268 |
| Total result of period | 1,784 | -1,900 | 194 |
| Net earnings per share (€) | 0.27 | -0.45 | 160 |
| Number of shares (weighted) | 6,625,899 | 4,265,497 | 55 |
| R&D expenses | 2,353 | 2,240 | 5 |
| Headcount (09/30/2010) | 333 | 268 | 24 |
| (in €k, unless otherwise specified) | 7/01/2010 -9/30/2010 | 7/01/2009 -9/30/2009 | Change % |
|---|---|---|---|
| Sales | 12,971 | 7,786 | 67 |
| Backlog of orders | 22,165 | 13,137 | 69 |
| Result of operating activities before depreciation (EBITDA) |
2,268 | 197 | 1.051 |
| Result of operating activities (EBIT) | 1,434 | -678 | 312 |
| Total result of period | 1,095 | -900 | 222 |
| Net earnings per share (€) | 0.17 | -0.20 | 185 |
| Number of shares (weighted) | 6,625,899 | 4,417,266 | 50 |
| R&D expenses | 771 | 1,133 | 108 |
| Headcount (09/30/2010) | 333 | 268 | 24 |
ISIN: DE0007201907 WKN: 720190
Economies of scale and increasing demand lead to strong improvements in performance – second upward adjustment of profit forecast in 2010
Dear shareholders, dear business partners,
On the basis of the results of the third quarter and our internal predictions, we have had to adjust our profit forecasts for the second time in this business year – upward! While we still assumed in the middle of the year that sales would stand at between €38 and 40 million in 2010, we now anticipate that we will successfully close the business year with sales of €42 million. The operating result (EBIT) is now expected to be clearly in the seven-figure range at over €3 million.
With sales for the nine-month period reaching €32 million, we have increased the previous year's value by 54 %. In the process, we generated €13 million solely in the quarter that is traditionally weakest for sales. The EBIT reflected this performance: it improved by €4 million compared to the same period in the previous year, from -€1.5 million to €2.5 million. Compared to September 30, 2009, the backlog of orders rose by 69 % to a total of €22.2 million.
The quarterly assessment also produced pleasing results: with an EBIT of €1.4 million and net income of €1.0 million, we not only achieved the fourth positive quarter in succession, but even surpassed the level of the "pre-crisis year" 2008!
Two factors in particular contributed to this surprisingly good performance:
The demand from our customers has increased again considerably. Whereas the economic and financial crisis and the related uncertainty led to customers reducing their own stocks in 2009, our high-quality sensor solutions are now being ordered again in considerable numbers. There has also been further progress in terms of the acquisition of new customers: for instance, in August we were able to announce the award of an order from a significant supplier of the automotive industry for the production of high-precision camera systems for driver assistance systems.
We reported about our investments and efficiency measures in past quarterly and business reports: the building of a modern sensor factory in Berlin, the expansion of our sales and R&D activities, the streamlining of the organizational structure, and the reduction of personnel and material costs. The effects of these measures are now beginning to be reflected in the corporate figures. Silicon Sensor International AG is on an excellent course toward regaining its old performance strength – but from now on with higher capacity and greater scalability. This development should now have a more evident effect on the results in the coming quarters.
The consolidated balance sheet reflects the stability of the corporate group: with equity funds amounting to €37.7 million, which corresponds to a capital stock ratio of 56 %, we are well equipped to face all eventualities and have enough leeway for further growth. A total of €13.6 million liquid assets is available for financing purposes, in addition to the credit lines from our financing banks. While we strengthened our capital stock in the past year with two capital increases, it is now the positive results that are adding to equity. Financial stability is an important prerequisite for our customers, with whom we nurture supply and service relationships over several years – and at the same time it is a significant competitive advantage.
We have announced that we intend to use the funds from the capital increase to finance our continued course of growth. Apart from the investments in capacity and scalability mentioned above, we also strengthened the company this year with two acquisitions, namely in the field of pressure sensors (MEMS) and in the product area (particulate matter monitoring equipment). Further acquisitions are planned which will either strengthen our integrated valueadded chain or open up complementary technological fields. We continue to forecast organic growth at a rate of 20 % p. a., with a return on sales of 10 %, by the year 2012 at the latest.
The pleasing performance of the Silicon Sensor share price has honored all of our efforts. In November 2009, we carried out a capital increase at an issue price of €5.50. Since then, the price has increased by approx. 60 %. Institutional investors from an extremely wide range of fields are making contact with us more and more frequently.
We would be delighted if you continue to chose to accompany us along our path.
Berlin, November 2010
Silicon Sensor International AG
Dr. Hans-Georg Giering Dr. Ingo Stein CEO CFO
The Silicon Sensor Group is a developer and manufacturer of customized sensors in the highend range. They convert non-electrical variables (radiation, light, pressure, location, speed, temperature, humidity, etc.) into electrical indicators with as high a quality level as possible, which are then processed further in the customers' electronic systems. The most significant areas of application include photo-optic sensors and MEMS (Micro-Electro-Mechanical Systems sensors, especially pressure sensors). The companies in the Silicon Sensor Group are active in all sections of the value-added chain. Apart from sensor components and modules, the Silicon Sensor Group also develops and makes highly reliable customized hybrid circuits and products for microsystem engineering and advanced packaging, through to the finished products. Customers include well-known industrial groups and research establishments that outsource specialist production processes on strategic and technical production grounds. As a rule, a project begins with the task definition by the customer and the joint drafting of a development strategy; a thorough test phase is then followed by a supplier relationship that usually lasts several years.
The products of the corporate group are deployed as crucial basic components in all conceivable applications, making the Group largely independent of business cycles in individual industries. Market conditions for these high-end products and future growth potential are generally seen as favorable. Products and solutions made by the Silicon Sensor Group can be found in countless products in a wide range of industrial applications, such as electronic yardsticks, tank pressure- and solar altitude sensors in motor vehicles, airconditioning systems, blood sugar measuring instruments, X-ray units for baggage inspection, machine control systems, space research, cancer operations, toll systems for trucks, and measuring instruments in the pharmaceuticals industry, to name but a few.
Its high engineering standards make the Group one of the world's leading developers and manufacturers of optical and electronic high-end solutions for the most exacting requirements. Two leading products worldwide that were previously designed and manufactured are avalanche photodiodes (APDs) and avalanche photodiode arrays. These APDs are used together with laser modules for instance in high-precision distance measuring systems from our customers for a variety of applications.
In the first nine months of the current business year, the company generated sales amounting to €32.2 million. This corresponds to an increase of 54 % compared to the same period in the previous year. Sales in the traditionally weaker third quarter stood out €13.0 million, which is 67 % above the same quarter in the previous year. Our existing customers made a particularly significant contribution to this increase in sales after having continued to reduce their own stocks in the crisis year of 2009. At the end of the quarter, the backlog of orders was worth €22.2 million, 69 % higher than the previous year's level.
The gross income in this nine-month period increased by €7.2 million from €13.8 million to €21.0 million. Due to the unchanged sales mix, the gross income margin fell by 1 % to 65 %.
Apart from the investments in our sales structures and in our Research and Development capacity, the incorporation of First Sensor Technology GmbH in the consolidated financial statement (initial consolidation as per April 1, 2010) was reflected in the increased personnel costs for this nine-month period (€11.2 million, +30 %). The same applies to the increase in other operating expenses by €0.8 million to €4.7 million. Depreciation fell by €0.2 million to €2.4 million due in part to the expiration of certain depreciation cycles.
The EBITDA for the nine-month period increased by €3.8 million to €5.0 million, and EBIT climbed by €4.0 million to €2.5 million. In the third quarter, an EBIT amounting to €1.4 million was generated which not only stood far above the same quarter in the previous year (-€0.7 million), but already surpassed quarterly achieved figure in the "pre-crisis year" 2008 (€1.3 million). The net income after tax and minority interests for this nine-month period climbed by €3.7 million to €1.8 million. This corresponds to a nine-month result per share of €0.27 (-€0.45). The quarterly net income stands at €1.1 million (previous year: -€0.9 million). This is the fourth positive quarterly result in succession.
Compared with December 31, 2009, the Group's equity stock has benefited from the excellent period result and has increased by €2.3 million to €37.6 million, equaling an equity stock ratio of 56 % (58 % on December 31, 2009). This is particularly important for our customers in choosing service providers as development and production processes extend over several years and the financial stability of a business partner is essential in times of crisis.
Meanwhile, the sum of short- and long-term loans fell by €0.4 million to €13.1 million through amortization when compared with December 31, 2009.
Thanks to the positive result in this nine-month period, the cash flow from current business activities stood at €4.0 million, considerably higher than the value for the same period in the previous year (€0.4 million). The cash flow from investment activities, amounting to €7.2 million (previous year: €0.4 million), was characterized by the acquisition of First Sensor Technology GmbH and initial payments into the capital reserves of Vereta GmbH in the context of the acquisition of 24.9 % of the shares and of further investments in tangible assets, including the further increase in efficiency of production in all corporate locations. Amortization payments of financial loans amounting to €1.8 million were offset by new borrowing of €1.3 million, resulting in a cash flow from financing activities in the amount of -€0.5 million (same period in previous year: €0.3 million).
The stock of liquid funds fell by €3.5 million to €13.6 million compared to December 31, 2009, due in particular to the financing of an acquisition with own funds. The available liquid funds and the financing lines from the banks will allow Silicon Sensor International AG to finance further growth.
Apart from the increase in sales and orders, the increase in liabilities and inventories is due in particular to the incorporation of First Sensor Technology GmbH in the consolidated financial statement (since April 1, 2010). The increase in goodwill by €1.0 million to €2.8 million and in the active latent taxes by €1.1 million to €1.3 million is the result of the purchase price allocation in the context of the initial consolidation of First Sensor Technology GmbH.
As per September 30, 2010, 333 persons were employed by the group. The increase compared to September 30, 2009 (269 employees) was essentially due to the incorporation of First Sensor Technology GmbH in the consolidated financial statement.
The results of the third quarter have induced us to carry out the second increase in the profit forecast in this current business year. Apart from the general economic recovery which has also been reflected in the demand from our customers, the continuous investments in capacity expansion since 2009, as well as the expansion of our technology and service portfolio, the broadening of our R&D activities and the extension of our sales structure are all bearing fruit to a greater and greater extent. We now forecast sales of approx. €42 million for the current business year with an EBIT of over €3 million together with average annual organic growth of 20 % p. a. for the coming years, coupled with a return on sales above 10 % from 2012 at the latest.
Berlin, November 2010
Silicon Sensor International AG
Dr. Hans-Georg Giering Dr. Ingo Stein CEO CFO
| in €1,000 | 9/30/2010 | 12/31/2009 |
|---|---|---|
| Cash | 13,586 | 17,102 |
| Accounts receivable | 8,419 | 4,868 |
| Due from affiliated companies | 35 | 55 |
| Inventories | 11,259 | 7,700 |
| Tax refund claims | 281 | 393 |
| Payments and accrued income and other short-term assets |
1,093 | 1,553 |
| Short-term assets | 34,673 | 31,671 |
| Tangible assets | 26,931 | 26,638 |
| Intangible assets | 1,164 | 530 |
| Shares in affiliated companies | 228 | 124 |
| Goodwill | 2,846 | 1,846 |
| Latent tax claims | 1,285 | 163 |
| Other long-term assets | 21 | 20 |
| Long-term assets | 32,475 | 29,321 |
| TOTAL ASSETS | 67,148 | 60,992 |
| in €1,000 | 9/30/2010 | 12/31/2009 |
|---|---|---|
| Short-term loans | 6,127 | 6,112 |
| Accounts payable | 3,321 | 1,904 |
| Liabilities to affiliated companies | 1 | 0 |
| Advances from customers | 1,917 | 1,222 |
| Accrued liabilities | 573 | 549 |
| Liabilities from income tax | 135 | 0 |
| Other short-term liabilities | 4,124 | 2,307 |
| Short-term liabilities,total | 16,198 | 12,094 |
| Long-term interest-bearing loans | 6,982 | 7,385 |
| Accrued liabilities | 194 | 203 |
| Latent taxes | 903 | 408 |
| Prepayments and accrued income | 5,101 | 5,525 |
| Long-term liabilities, total | 13,180 | 13,521 |
| MINORITY INTERESTS | 140 | -6 |
| Subscribed capital | 33,130 | 33,130 |
| Capital reserves | 4,230 | 3,823 |
| Exchange equalization | -284 | -339 |
| Balance-sheet profit/loss | 554 | -1,231 |
| Capital stock, total | 37,630 | 35,383 |
| CAPITAL STOCK AND DEBTS, TOTAL | 67,148 | 60,992 |
| in € 1,000 | 1/01/2010 - 9/30/2010 |
1/01/2009 - 9/30/2009 |
7/01/2010 - 9/30/2010 |
7/01/2009 - 9/30/2009 |
|---|---|---|---|---|
| Sales revenue | 32,283 | 20,905 | 12,971 | 7,786 |
| Other operating income | 1,084 | 1.109 | 353 | 401 |
| Change in stocks of finished goods and work-in progress |
862 | 193 | 667 | -489 |
| Capitalized cost of self-constructed assets | 535 | 0 | 201 | 0 |
| Cost of materials/purchased services | -13,787 | -8,436 | -5,676 | -3,325 |
| Personnel expenses | -11,274 | -8,694 | -4,441 | -2,888 |
| Depreciation of tangible and intangible assets | -2,439 | -2,629 | -834 | -875 |
| Other operating expenses | -4,747 | -3,947 | -1,807 | -1,288 |
| OPERATING RESULT | 2,517 | -1,499 | 1,434 | -678 |
| Interest income/expenses | -550 | -623 | -168 | -199 |
| Exchange gains/losses | 59 | -28 | -123 | -16 |
| RESULT BEFORE TAX AND MINORITY INTERESTS |
2,026 | -2,150 | 1,143 | -893 |
| Taxes on income | -144 | 250 | -27 | -7 |
| PROFIT/LOSS IN THE PERIOD UNDER REVIEW |
1,882 | -1,900 | 1,116 | -900 |
| Period surplus/amount owing attributable to | ||||
| minorities | 98 | 0 | 21 | 0 |
| Period surplus/amount owing attributable to Silicon Sensor AG shareholders |
1,784 | -1,900 | 1,095 | -900 |
| Expenditure/income directly shown as equity | ||||
| Differences from currency conversion (after tax) | 55 | -48 | -136 | -19 |
| Net profits/losses from cash flow hedges | ||||
| (after tax) | 82 | -140 | 25 | -101 |
| Transaction costs SUM OF EXPENDITURE/INCOME SHOWN |
0 | -27 | 0 | 0 |
| DIRECTLY AS EQUITY | 137 | -215 | -111 | -120 |
| TOTAL PERIOD RESULT | 2,019 | -2,115 | 1,005 | -1,020 |
| Result for the period attributable to minorities, total |
98 | 0 | 21 | 0 |
| Total result for the period attributable to Silicon Sensor AG shareholders |
1,921 | -2,115 | 984 | -1,020 |
| Net earnings per share (undiluted) | 0.27 | -0.45 | 0.17 | -0.20 |
| Average number of circulating shares (undiluted) | 6,626 | 4,265 | 6,626 | 4,417 |
| Net earnings per share (diluted) | 0.27 | -0.45 | 0.16 | -0.20 |
| Average number of circulating shares (diluted) | 6,636 | 4,265 | 6,641 | 4,417 |
| In €1,000 | 1/01/2010 - 9/30/2010 |
1/01/2009 - 9/30/2009 |
|---|---|---|
| PRE-TAX INCOME | 2,026 | -2,150 |
| Adjustments for transferring operating result to operating cash flow from current activities Depreciation of tangible and intangible assets |
||
| Other expenses/income not affecting payment | 2,439 | 2,629 |
| Income from investment grants | 360 | -347 |
| Interest income | -424 | -162 |
| Interest expenses | -63 | -36 |
| Income from asset disposal | 613 | 659 |
| Increase/decrease of provisions | -30 | -2 |
| Other expenses/income not affecting payment | -160 | -55 |
| Inventories, accounts receivable and other assets not assigned to investment/financing activities |
-3,480 | 1,880 |
| Accounts payable and liabilities that are not assigned to investment/financing activities |
3,221 | -1,340 |
| Interest paid | -601 | -424 |
| Income tax paid | 56 | -182 |
| Other profits/losses | 0 | -28 |
| CASH FLOW FROM CURRENT BUSINESS ACTIVITIES | 3,957 | 442 |
| Payments for investment into tangible and intangible assets | -2,962 | -1.451 |
| Payments from tangible/intangible asset retirement | 30 | 2 |
| Payments regarding associated companies | -104 | 0 |
| Payments, purchase of subsidiary after deducting purchased funds | -4,241 | 0 |
| Receipts from investment grants | 3 | 1.792 |
| Interest received | 63 | 36 |
| CASH FLOW FROM INVESTMENT | -7,211 | 379 |
| Proceeds from injection of capital stock finance | 0 | 2,467 |
| Payments for repaying financial credits | -1,818 | -3,540 |
| Transaction costs for issuing shares | 0 | -38 |
| Proceeds from uptake of financial credit | 1,301 | 1,392 |
| CASH FLOW FROM FINANCING | -517 | 281 |
| CURRENCY DIFFERENCES FROM CONVERTING FUNDS | 55 | -48 |
| CHANGES IN FUNDS AFFECTING PAYMENTS | -3,716 | -1,054 |
| Funds at the beginning of the business year | 16,652 | 4,173 |
| FUNDS ON REPORTING DATE (SEPTEMBER 30, 2010) | 12,936 | 5,227 |
| In €1,000 | Number of shares (,000) |
Sub scribed stock |
Share premium |
Retained earnings |
Unrealized profit/loss |
Group balance sheet loss/ profit |
Exchange equalization items |
Minority interests |
Sum of capital stock |
|---|---|---|---|---|---|---|---|---|---|
| Jan. 01, 2009 | 3,903 | 11,710 | 16,130 | -854 | -109 | -4,208 | -261 | 50 | 22,458 |
| Differences from currency conversion |
-48 | -48 | |||||||
| Result shown directly as capital stock, total |
-167 | -167 | |||||||
| Period result | -1,900 | -1,900 | |||||||
| Distribution Balance-sheet loss |
-4,208 | -4,208 | |||||||
| Increase Share capital (excluding issue of new shares) |
8,834 | -8,834 | 0 | ||||||
| Capital increase | 514 | 1,542 | 925 | 4,208 | 6,675 | ||||
| Sept. 30, 2009 | 4,417 | 22,086 | 4,013 | -854 | -276 | -1,900 | -309 | 50 | 22,810 |
| Jan. 01, 2010 | 6,626 | 33,130 | 4,618 | -586 | -209 | -1,231 | -339 | -6 | 35,377 |
|---|---|---|---|---|---|---|---|---|---|
| Period profit/loss | 1,785 | 55 | 98 | 1,938 | |||||
| Result shown directly as capital stock |
82 | 82 | |||||||
| Total period result |
82 | 1,785 | 55 | 98 | 2,020 | ||||
| Additions to tangible assets |
270 | 48 | 318 | ||||||
| Share-based remuneration |
55 | 55 | |||||||
| Sept. 30, 2010 | 6,626 | 33,130 | 4,618 | -261 | -127 | 554 | -284 | 140 | 35,770 |
(all amounts in €k, unless otherwise specified)
Silicon Sensor International AG, Berlin, Germany (hereinafter "SIS", "the company" or "Silicon Sensor Group") is a listed corporation headquartered in Berlin, Germany.
The consolidated interim financial statement as per September 30, 2010 complies with the requirements set out in the German Securities Trading Act (WpHG). Its compilation was performed in compliance with the requirements of IAS 34 in abridged form and by applying article 315a of the German Commercial Code (HGB) in compliance with the International Financial Reporting Standards (IFRS) valid on the reporting date and set out by the International Accounting Standards Board (IASB) and approved by the European Union (EU) as well as in compliance with IASB's interpretations of the International Financial Reporting Interpretations Committee (IFRIC).
All amounts are in euro; if not stated otherwise, all amounts are in specified in thousands of euro (€k).
The essential practices and methods used to prepare the consolidated interim financial statement are in compliance with those used for the 2009 consolidated financial statement. For a detailed description of the practices and methods please refer to the published consolidated financial statement for the 2009 business year. In addition to the practices and methods mentioned in our consolidated financial statement, we emphasize that within the course of inventory valuation for finished goods and work-in-progress, we valuated the manufacturing costs on the basis of the retrograde evaluation method.
Silicon Sensor Group has adapted the illustration of comparable periods in the consolidated interim financial statement and various items of information in the appendix to the consolidated interim financial statement. This procedure deviates from previously published
15
consolidated interim financial statements. These changes are intended to increase comparability of consolidated interim financial statements and higher transparency for recipients of the consolidated interim financial statement.
Company mergers and transactions with non-controlling interests (minorities) concluded on or after July 1, 2009 were incorporated in accordance with regulations set out by IFRS 3 (revised version, 2008) "Company mergers" and the new IAS 27 (revised version, 2008) "Company and separate individual financial statements in compliance with IFRS". However, the premature application of this standard in the 2009 business year did not have any material consequences because there were no respective transactions. These evaluation regulations were applied to the acquisition of First Sensor Technology GmbH, Berlin, Germany (First Sensor), concluded on April 1, 2010.
The consolidation group of the Silicon Sensor Group was expanded with the addition of First Sensor as per April 1, 2010.
The cash purchase price for the acquisition of 100 % of First Sensor's shares and existing shareholders' loans with equity-like character amounted to a total of €4,525,000. Together with the ancillary costs relating to the acquisition (€45,000), minus the available liquid funds at First Sensor as per the takeover reporting date (€230,000) and its own shares (€55,000), this amount is disclosed in the capital flow statement as a payment for corporate acquisitions.
Capital stock at a book value of -€47,000 – consisting primarily of short-term assets and debts – is faced by a purchase price amounting to the purchased shares (€1,978,000). In the course of splitting the difference between the purchase price on the purchased capital stock and the book values brought forward by First Sensor, undisclosed reserves from assets that can be depreciated, tax credits and undisclosed reserves from goodwill were identified. These were uncovered in the amount of €2,553,000 and passive, latent taxes totaling €529,000 were recorded.
The performed purchase price split has temporary character, as various data analyses regarding purchased undisclosed reserves have not yet been finally concluded. For the purpose of the consolidated interim report, uncovered undisclosed reserves were allocated active latent taxes (€1,095,000), goodwill (€1,000,000), and inventories (€458,000).
If First Sensor had already been part of the consolidated Group by January 1, 2010, the Group's sales would have increased by €934,000 and the Group's result by €26,000.
The Silicon Sensor Group constantly monitors the intrinsic value of long-term assets by comparing the planned and obtained operating results. In the first nine months of 2010, there was no evidence of any depletion in long-term assets to below the recorded book values.
There have been no essential changes since the second quarter of 2010.
The Group consists of several legal sub-entities. As part of corporate management, these legal entities are run as independent business segments. The operating results from the business entities are monitored separately by the management in order to take decisions on the division of resources and to determine the profitability of the entities. The segments' development is evaluated using the operating result that was calculated as per the German Commercial Code. The internal prices between the business segments are determined under the same conventional market conditions as for third parties.
The individual business segments were combined into one business segment that was subject to reporting, due in particular to the comparability of the produced goods and services offered, the production processes as well as the type of customers.
| Business segment | Consolidation | Adjustment to IFRS | Group | |||||
|---|---|---|---|---|---|---|---|---|
| In €1,000 | 3/30/2010 | 3/30/2009 | 3/30/2010 | 3/30/2009 | 3/30/2010 | 3/30/2009 | 3/30/2010 | 3/30/2009 |
| Sales | 10,331 | 7,447 | -1,434 | -508 | 0 | 0 | 8,897 | 6,939 |
| Result (before minorities) |
259 | -136 | -226 | 148 | 207 | 49 | 241 | 61 |
1st Quarter 2010
1st Six Months 2010
| Business segment | Consolidation | Adjustment to IFRS | Group | |||||
|---|---|---|---|---|---|---|---|---|
| In €1,000 | 6/30/2010 | 6/30/2009 | 6/30/2010 | 6/30/2009 | 6/30/2010 | 6/30/2009 | 6/30/2010 | 6/30/2009 |
| Sales | 21,806 | 14,058 | -2,494 | -939 | 0 | 0 | 19,312 | 13,119 |
| Result (before minorities) |
598 | -1,190 | 381 | 242 | -213 | -52 | 766 | -1,000 |
3rd Quarter 2010
| Business segment | Consolidation | Adjustment to IFRS | Group | |||||
|---|---|---|---|---|---|---|---|---|
| In €1,000 | 9/30/2010 | 9/30/2009 | 9/30/2010 | 9/30/2009 | 9/30/2010 | 9/30/2009 | 9/30/2010 | 9/30/2009 |
| Sales | 36,486 | 22,485 | -4,203 | -1,580 | 0 | 0 | 32,283 | 20,905 |
| Result (before minorities) |
2,292 | -5,366 | -198 | -440 | -212 | 3,025 | 1,882 | -1,900 |
We hereby affirm that, to the best of our knowledge, the picture presented in the consolidated financial statement using applicable accounting principles for interim reports portrays a realistic impression of the Group's financial and earnings status. We furthermore affirm that the business activities, including the operating result and the Group's situation, are presented in such a way as to give a realistic picture and describe the opportunities and risks of the Group's expected development for the rest of the business year.
On October 6, 2010, the acquisition of an interest in the amount of 24.9 % of GmbH was notarially concluded. Vereta GmbH is a company specializing in the development of particulate matter and climate sensors. The liquid funds deployed by Silicon Sensor, which lay in the six-figure range and were paid almost exclusively into the capital reserves of the company, are intended almost predominantly to finance the production of a mobile particulate matter monitoring device and other developments. Marketing of this particulate matter monitoring device should begin at the start of 2011 at the latest.
Berlin, November 2010
Silicon Sensor International AG
Dr. Hans-Georg Giering Dr. Ingo Stein CEO CFO
This report contains statements with a predictive nature. This consolidated interim report does not represent any incitement to purchase shares of Silicon Sensor International AG, but rather is intended exclusively for information purposes with regard to possible future developments at the company. All future-oriented specifications in this consolidated interim report were produced on the basis of a probability-based plan and represent statements regarding the future which cannot be guaranteed.
| Date | Topic | Location |
|---|---|---|
| 2010 | ||
| Nov. 24, 2010 | Presentation in the context of the capital stock forum Analysts' Conference |
Congress Center at Messe Frankfurt, Frankfurt am Main |
| Nov. 25, 2010 | Publication of the Group Quarterly Financial Report 3rd Quarter 2010 |
|
| 2011 | ||
| Match 30, 2011 | Publication of the Group Annual Financial Report 2010, Balance-Sheet Press Conference |
Frankfurt am Main, Germany |
| May 26, 2011 | Publication of the Group Quarterly Financial Report | |
| 1st Quarter 2011 | ||
| June 09, 2011 | Annual General Meeting | Penta Hotel Berlin Köpenick |
| August 25, 2011 | Publication of the Group Half Year Financial Report 1st Six-Month Period 2011 |
This quarterly report is available in German and English.
Both versions are also available for download on the internet at www.silicon-sensor.com
ISIN: DE0007201907
WKN: 720190
Silicon Sensor International AG Peter-Behrens-Straße 15 12459 Berlin Tel.: +49(0)30 / 63 99 23 – 710 Fax: +49(0)30 / 63 99 23 – 719 Internet: www.silicon-sensor.com
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