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DGAP-News: Elmos Semiconductor AG
/ Key word(s): Forecast/Annual Results
Dortmund, February 17, 2020: According to preliminary, unaudited figures Elmos Semiconductor AG (FSE: ELG) increased its semiconductor sales by 7.7% to 273.4 million Euro in 2019. Including the divested micromechanics segment, total sales rose to 294.8 million Euro. Operating EBIT amounted to 45.3 million Euro, or 15.4% of sales. Reported EBIT stood at 97.3 million Euro after accounting for the gains realized from the sale of SMI in the amount of 63.1 million Euro and restructuring expenses in the amount of 11.1 million Euro resulting from the termination of the cooperation with the Fraunhofer Institute IMS. Capital expenditure accounted for 14.8% of sales. Adjusted free cash flow - substantially influenced by the cash inflow from the sale of SMI - was significantly positive at 76.9 million Euro. In Q4 2019, sales in the semiconductor business grew by 8.4% to 75.7 million Euro, while operating EBIT reached 11.0 million Euro corresponding to an EBIT margin of 14.6%. "In a challenging market environment Elmos achieved a level of growth in 2019 that makes us stand out from the competition. Furthermore, the sale of SMI and the expansion of R&D capacities are just the right steps to support our focus on the attractive core business," says Dr. Anton Mindl, CEO of Elmos. "Although we continue to expand our application and customer footprint throughout 2020, the currently difficult market environment and the already high sales level reached in 2019 allow for growth in the lower single-digit percentage range only." Based on the current subdued economic situation, particularly in the automotive sector, and subject to the as yet unforeseeable impact of the coronavirus on the economy, Elmos expects sales to grow in the low single-digit percentage range in 2020 compared to the sales of 273.4 million Euro generated in 2019 from the continued activities of the semiconductor segment. The EBIT margin is expected to be between 11% and 16%. Capital expenditure will account for less than 15% of sales. Elmos expects to achieve a positive adjusted free cash flow in 2020. The forecast for 2020 is based on an exchange rate of 1.10 USD/EUR. Â Overview of selected, preliminary and unaudited financial figures in accordance with the IFRS (in millions of Euro/percent, unless indicated otherwise):
Detailed overviews of the financial figures, especially for the continued / discontinued operation, will be published with the presentation of the final figures in the 2019 Annual Report on March 19, 2020. The dividend proposal to the Annual General Meeting in May 2020 is also expected to be announced on this date. Definitions of selected financial indicators About Elmos Note
17.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Elmos Semiconductor AG |
| Heinrich-Hertz-Str. 1 | |
| 44227 Dortmund | |
| Germany | |
| Phone: | +49 (0)231 7549-510 |
| Fax: | +49 (0)231 7549-111 |
| E-mail: | |
| Internet: | |
| ISIN: | DE0005677108 |
| WKN: | 567710 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 976777 |
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| End of News | DGAP News Service |
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976777Â Â 17.02.2020Â
