Melexis N.V. — Earnings Release 2011

Feb 9, 2012

Press release: Melexis reports fourth quarter and FY 2011 results and confirms 2012 guidance

Intermediate declaration by the Board of Directors.

Ieper, Belgium – February 9th, 2012, 07.00 hrs CET

The statutory auditors BDO Bedrijfsrevisoren BCV, have confirmed that their audit procedures, which have been substantially completed, have not revealed material adjustments which would have to be made to the accounting information included in this press release.

For the year 2011, sales were 230.7 million EUR, an increase of 5% compared to the previous year. On a constant currency basis, sales would have increased with 8% compared to 2010. Gross margin was 108.2 million EUR, an increase of 6% compared to 2010. The operating result was 54.4 million EUR, a decrease of 3% compared to last year. Net income was 45.9 million EUR, compared to 48.6 million EUR in 2010, a decrease of 6%.

Sales in the 4th quarter of 2011 were 57.3 million EUR, a decrease of 1% compared to the 4th quarter of 2010. On a constant currency basis, sales would have dropped with 1% as well. Gross margin was 28.2 million EUR, an increase of 3% compared to 2010.

The operating result was 14.4 million EUR.

R&D expenses were at 15% of sales, selling expenses at 3% and G&A expenses at 6% of sales. Net income was 13 million EUR, down 1.5% compared to the same quarter last year.

Melexis purchased 923.019 own shares during 2011 at an average price of 10.92 EUR. As a result, the total number of treasury shares at the end of 2011 was 2.998.564, representing 6.93% of shares outstanding.

Françoise Chombar, CEO of Melexis comments:

"Melexis launched a record high of 26 new products during 2011. These range pretty proportionally over our four business units. Next to serving the needs of our core market - the automotive - more than half of these newly launched products can address the industrial, consumer and medical markets as well. Most of them serve the "green wave", meaning they respond to this planet's need for more environmentallyfriendly and energy-saving products and processes, by which Melexis makes its valid contribution to a sustainable future. Last but not least, a vast majority of them are market premieres, proving Melexis takes pride in bringing innovation to our valued customer base."

Karen van Griensven, CFO of Melexis adds:

"In the 4th quarter of 2011, Melexis managed to post a record gross margin of 49%. On top of the continued efforts to improve test efficiency, reduce cost of yield and obtain a good product mix, Melexis also booked higher then average non recurring engineering income and enjoyed a favourable USDeffect."

Outlook

We expect sales in the first quarter of 2012 to be at the same level as the previous quarter. For FY 2012, Melexis expects mid to high single digit growth in sales. Taking into account a EUR/USD exchange rate of 1.40, we expect our gross profit and operating margin as percentage of sales to be around the same level as 2011.

Financial Calendar

• Annual Shareholders Meeting: April 20, 2012
• Publication Q1 2012 Results: April 25, 2012
• Publication Q2/HY1 2012 Results: August 1, 2012
• Publication Q3 2012 Results: October 17, 2012
• Publication FY 2012 Results: February 6, 2013

The company's results will be discussed in a conference call on Thursday, February 9th, 2012 at 17 hrs CET. The conference call will be in English. You have to register for this conference call in advance. You can register by clicking on the following link and filling out the requested information:

https://eventreg1.conferencing.com/webportal3/reg.html?Acc=184341&Conf=182295

Conference ID: 911158.

After registration, you will receive the conference call number, a participant user pin, conference pin and instructions on how to join the conference call. For security purposes all participants must register individually if they wish to join the call.

A replay number for this call is available for 7 days after the end of the conference call. The replay number for this call is +32 2 290 17 05, access code: 911158.

For further information: Investor Relations Phone: +32 13 67 07 79 Fax: +32 13 67 21 34 Email: investor@melexis.com

About Melexis

Melexis Microelectronic Integrated Systems N.V. (Euronext Brussels: MELE) is a mixed signal semiconductor manufacturer. Melexis designs, develops, tests and markets advanced integrated semiconductor devices for the automotive industry. Our core experience supplying ICs for automotive electronics sustains the expansion into Application Specific Standard Products for industrial and consumer product applications. Melexis enthusiastically pursues its role as a component supplier whose innovations, while physically small, are the essential element in nearly every one of our customers' extraordinary systems. At Melexis we believe that "Small things make a big difference". Melexis' products include sensor, communication, actuator ICs and Application Specific Integrated Circuits (ASICs). Further information about Melexis can be found at http://www.melexis.com.

Disclaimer

Except for those statements that report the Company's historical results, the statements being made are forward looking statements. Actual results could differ materially from those projected in the forwardlooking statements. Factors which could cause actual results to differ from expectations include the following: volatility in supply and demand affecting revenues and market prices, price and availability of silicon foundry, assembly and test prices, assembly and test subcontract capacity required to meet financial targets and/or meet backlog requirements, risks and delays associated with bringing up new production capabilities or with deliveries from subcontractors, timing and market acceptance of new products, increased expenses associated with new product acceptance of new products, increased expenses associated with new product introductions of process changes, delays in developing or achieving volume production of new products, which can result in delays or failure to contribute to revenues and profits, ability of the Company to maintain its customer and vendor base and delays in and/or inability in raising additional capital.

Melexis Financial Press Release Regulated Information

Consolidated Profit & Loss

CONFORM IAS	Quarter ended	Quarter ended	Year ended	Year ended
in k EUR	31/12/2011	31/12/2010	31/12/2011 audited	31/12/2010 audited
Sales	57,308	58,112	230,661	219,427
Cost of sales	-29,147	-30,723	-122,451	-117,176
Gross Margin	28,161	27,389	108,210	102,251
R&D	-8,602	-8,030	-34,342	-29,701
G&A	-3,420	-2,947	-12,540	-10,519
Selling	-1,710	-1,495	-6,882	-5,741
Other operating result
Operating result	14,429	14,918	54,447	56,290
Other expenses (net)	23	-345	-1,166	-2,126
Income before taxes	14,452	14,573	53,280	54,163
Income taxes	-1,493	-1,417	-7,386	-5,551
Net income	12,959	13,156	45,894	48,612
Net income per share in EURO	0.30	0.30	1.06	1.12

Consolidated Balance Sheet

CONFORM IAS	Year ended	Year ended
in k EUR	31/12/2011 audited	31/12/2010 audited
Current Assets : Cash and cash equivalents	17,806	21,180
Current investments	4,605	5,729
A/R Trade	37,802	27,933
A/R from related parties	723	8,796
Advance related parties
Other current assets	7,143	7,504
Inventories	36,943	39,217
Total current assets	105,022	110,359
Non current assets :
Costs of incorporation
Property, plant and equipment	51,354	48,760
Financial assets	30	30
Intangible fixed assets	1,943	1,750
A/R directors
Other non-current assets	4,933	4,344
Deferred tax assets	14,821	15,235
Total non current assets	73,081	70,120
Total assets	178,103	180,479

CONFORM IAS	Year ended	Year ended
in k EUR	31-Dec-11 audited	31-Dec-10 audited
Liabilities and shareholders Equity
Current liabilities :
Bank loans and overdrafts
Derivative financial instruments	964	1,599
Current portion of LT debt	4,648 8,163	19,647 7,274
A/P trade Affiliated companies	5,117	6,603
Accrued expenses, payroll and taxes	8,566	7,159
Other current liabilities	3,063	1,707
Deferred income	625	793
Total current liabilities	31,146	44,782
Non current liabilities :
LT debt less current portion	36,976	37,115
Deferred tax liabilities		382
Other non-current liabilities	2,861	2,746
Total non current liabilities	39,837	40,242
Shareholders' equity :
Shareholders' capital	565	565
Share premium
Treasury shares	-31,760	-21,886
Revaluation reserve Hedge	-494	-896
Revaluation reserve Fair value	512	1,378
Legal reserve	57 92,217	57 67,923
Retained earnings Current period's profit	45,894	48,612
Cumulative translation adjustment	119	-308
Equity attributable to company owners	107,110	95,445
Non controlling interests	10	10
Total shareholders equity	107,120	95,455
Total liabilities, shareholders' equity	178,103	180,479
and minority interests

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Consolidated Statements of Cash Flow

(in k EUR) audited audited Cash flow from operating activities 45,894 48,612 Net income Adjustments for : Operating activities 15,100 16,168 414 343 - Deferred taxes 1,342 955 - Capital grants 11,948 11,510 - Depreciation and amortisation 560 1,159 - Unrealized exchange results 836 2,201 - Financial result Operating profit before working capital changes : 60,995 64,780 -9,848 -7,131 - A/R, Trade 8,073 -783 - A/R, affiliates -1,331 2,285 - Other current assets -589 -1,256 - Other non current assets 2,340 -14,063 - Inventories 855 734 - A/P -1,487 1,670 - A/P affiliates 5,549 2,589 - Accrued expenses 1,347 566 - Other current liabilities -1,069 210 - Other non current liabilities -2,428 -3,417 - Interest paid -4,194 -1,137 - Income tax Cash flow from operating activities 58,212 45,046 Cash flow from investing activities Acquisition of subsidiary, net of cash acquired Financial fixed assets -14,613 -15,377 Purchase of PPE and intangible assets (netted) 1,189 1,139 Interest received 1,124 -1,739 Investments/proceeds/ from current investments (incl. financial instruments) Cash provided from investing activities -12,300 -15,977 Cash flows from financing activities -9,874 -4,013 Payment to acquire own shares -15,139 -13,739 Proceeds/Repayment of long-and short-term debt Proceeds/Repayment of bank loans and overdrafts Proceeds from (repayment of) related party financing Proceeds from (repayment of) A/P to directors -24,318 -12,387 Dividend payment Capital Decrease Non controlling interests Cash provided from financing activities -49,331 -30,139 47 3 CTA -3,374 -1,067 Increase/decrease in cash and cash equivalents Cash at beginning of the period 21,180 22,247 Cash at the end of the period 17,806 21,180	CONFORM IAS/IFRS	Year ended 31/12/2011	Year ended 31/12/2010

Sales per Geography FY 2011

Turnover per Business Unit

(in k EUR)	Q4/11	Q4/10	% CHANGE (Y-O-Y)
Sensors	32,187	33,090	-3%
Wireless	2,891	4,091	-29%
Actuators	16,581	16,115	3%
Opto	4,704	3,923	20%
Other	945	893	6%
TOTAL	57,308	58,112	-1%

(in k EUR)	2011	2010	% CHANGE (Y-O-Y)
Sensors	130,905	120,183	9%
Wireless	13,644	13,907	-2%
Actuators	65,664	62,910	4%
Opto	17,506	19,149	-9%
Other	2,941	3,278	-10%
TOTAL	230,662	219,427	5%

(in k EUR)	Q4/11	Q3/11	% CHANGE (Q-O-Q)
Sensors	32,187	32,484	-1%
Wireless	2,891	3,617	-20%
Actuators	16,581	16,400	1%
Opto	4,704	3,605	30%
Other	945	656	44%
TOTAL	57,308	56,762	1%

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