Elmos achieves record sales in 2010

The gross profit more than doubled from the previous year’s mark to EUR 83.8 million (2009: EUR 35.9 million). The gross margin was 45.3%, compared to 29.0% in 2009. Earnings before interest and taxes (EBIT) were also increased disproportionately in relation to sales, recording a level of EUR 23.1 million or an EBIT margin of 12.5% of sales in the year 2010 (2009: EUR minus 15.8 million or -12.8%). The Group’s net income amounted to EUR 17.8 million (2009: net loss of EUR minus 12.2 million Euro). The fourth quarter of 2010 was also characterized by satisfactory growth. Compared to the third quarter 2010, sales gained another 5.1% to EUR 48.6 million (Q3 2010: EUR 46.3 million). The gross margin was 47.7% in the fourth quarter of 2010 and the EBIT came to EUR 7.5 million, equivalent to an EBIT margin of 15.4%. Net income was generated in the amount of EUR 7.3 million, corresponding with EPS of EUR 0.38. Based on the positive development, Supervisory Board and Management Board will propose to the Annual General Meeting on May 17, 2011 to pay a dividend of EUR 0.20 per share. "Our customers were right to rely on our products and our supply capability in 2010. Together with our customers we benefited from a strong economic upswing and a high demand for electronic solutions. Despite the strong business growth, we also managed to implement important strategic measures in the past year. Among those are the expansion of our commitment in Asia and the sale of the special packaging business", says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. "With globally unique products such as a semiconductor for partial network operation in the automobile and a special IO-Link component for industrial networks, we have purposefully strengthened our product lines as well. In 2011 we will aim at expanding our research and development effort and thus our future product portfolio once more", Mindl comments.