Elmos: 2013 targets achieved – Positive outlook for 2014

The gross profit climbed to 79.2 million Euro (2012: 76.1 million Euro). This corresponds to a gross margin of 41.9% (2012: 42.2%). The EBIT was 12.7 million Euro in the full year 2013 and equaled an EBIT margin of 6.7% (2012: 11.5 million Euro and 6.4%). The consolidated net income also showed a positive performance and amounted to 9.4 million Euro in 2013 (2012: 8.1 million Euro). In the past fiscal year 2013 Elmos achieved a positive adjusted free cash flow of 7.6 million Euro (2012: 7.3 million Euro) despite a significant increase in net working capital due especially to the growth in sales toward the end of the year 2013. “2013 was not an easy year but we still managed to meet the forecast. For the current year we have set higher goals, considering the demand for our products and several project ramp-ups. The start of the year makes us feel optimistic,” says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. For 2014 Elmos expects a sales increase and an EBIT margin in the upper single-digit percentage range respectively. Capital expenditures for intangible assets and property, plant and equipment are scheduled not to exceed a maximum amount of 15% of sales in 2014. Management also assumes that Elmos will generate a positive adjusted free cash flow once again.