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23:00 | 16.03.2011
PRESS RELEASE: ELMOS Semiconductor AG: Cash flow 2010 follows strong sales and earnings performance
PRESS RELEASE: ELMOS Semiconductor AG: Cash flow 2010 follows strong sales and earnings performance
DGAP-News: ELMOS Semiconductor AG / Key word(s): Final
Results/Forecast
ELMOS Semiconductor AG: Cash flow 2010 follows strong sales and
earnings performance
16.03.2011 / 23:00
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Sales of 190 to 200 million Euro expected for 2011
Dortmund, March 16, 2011: ELMOS Semiconductor AG (FSE: ELG) improved all
key figures considerably over the past fiscal year 2010, as has been
announced in February 2011 within the framework of preliminary figures.
Sales were increased by 49.2% to 184.7 million Euro in 2010. Compared to
the previous year, the gross profit more than doubled to 83.8 million Euro.
Earnings before interest and taxes (EBIT) reached an amount of 23.1 million
Euro or an EBIT margin of 12.5% of sales in the year 2010. The net income
amounted to 17.8 million Euro, equivalent to basic earnings per share (EPS)
of 0.92 Euro. Supervisory Board and Management Board propose to the Annual
General Meeting of May 17, 2011 to pay a dividend of 0.20 Euro.
The adjusted free cash flow of 20.6 million Euro also turned out
satisfactory in its strength, the result of a significantly improved
operating performance combined with adequate capital expenditures. The cash
flow from operating activities was more than tripled in comparison with
2009 and amounted to 30.0 million Euro in 2010 (2009: 9.4 million Euro). In
2010 12.4 million Euro or 6.7% of sales were invested (2009: 7.4 million
Euro or 6.0% of sales).
'In 2011 we want to convince the customers increasingly with new solutions
and thus generate further growth. We will purposefully enhance our product
lines and keep pushing the expansion into Asia,' says Dr. Anton Mindl, CEO
of ELMOS Semiconductor AG.
The consequences of the recent disastrous developments in Japan are
currently not foreseeable and not reflected in the following forecast.
However, for ELMOS there are only marginal direct dependencies with respect
to supply and customer relationships with Japan; indirect effects are
currently not assessable. At a stable economy, ELMOS expects sales between
190 and 200 million Euro for 2011. This equals a growth rate between 6% and
12%, based on 2010 sales of 178.6 million Euro, adjusted by the sale of the
special packaging business. The 2011 EBIT margin will reach or slightly
exceed the level of 2010. The forecast takes into account cost increases
due to higher global market prices for materials and rising development and
distribution expenses, among other factors. Capital expenditures are
scheduled to come to less than 15% of sales. The free cash flow will be
positive. The forecast is based on an exchange rate of 1.30 U.S.
dollars/Euro.
The complete annual report for fiscal year 2010 is available at
www.elmos.de. On March 17, 2011 at 9.30 a.m. (CET), ELMOS will hold an
analysts' conference per webcast (in English). The conference will later be
downloadable from the website. At 11.30 a.m. (CET), the annual press
conference will be held in Dortmund.
Overview of selected financial figures according to IFRS (in million Euro
or percent unless otherwise indicated); financial figures include the
results of the special packaging business that has been sold as of December
31, 2010):
2010 2009 Differ- Q4/10 Q4/09 Differ-
ence ence
Sales 184.7 123.8 49.2% 48.6 40.5 20.3%
Gross profit 83.8 35.9 >100% 23.2 16.0 45.0%
Operating income 23.8 -14.8 n/a 8.0 3.0 >100%
EBIT 23.1 -15.8 n/a 7.5 2.9 >100%
Net income(loss) 17.8 -12.2 n/a 7.3 1.7 >100%
Earnings per share in Euro 0.92 -0.63 n/a 0.38 0.09 >100%
(basic)
Adjusted free cash flow* 20.6 2.1 >100% 9.2 5.6 63.6%
* Cash flow from operating activities plus investments in marketable
securities less capex
ELMOS Semiconductor AG is a developer and manufacturer of system solutions
on semiconductor basis. For more than 25 years, our chips have made
automobiles 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: +49 231-7549-0, Extension: -287, Fax: +49
231-7549-548, info@elmos.de, www.elmos.de
End of Corporate News
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16.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ELMOS Semiconductor AG
Heinrich-Hertz-Str. 1
44227 Dortmund
Deutschland
Phone: +49 (0)231 7549-575
Fax: +49 (0)231 7549-548
E-mail: invest@elmos.de
Internet: http://www.elmos.de
ISIN: DE0005677108
WKN: 567710
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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115838 16.03.2011
(END) Dow Jones Newswires March 16, 2011 18:00 ET (22:00 GMT) |
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