Components | July 30, 2012
Micronas with further growth in profit and sales
Consolidated net sales by the Micronas Group in the first half of 2012 came to CHF 86.9 million, which is 9 percent higher than in the first half of 2011.
After adjusting for currency movements – in euros – the rise was 15.1 percent. The sharp increase in the value of the Japanese yen against the euro also helped Micronas. The Automotive segment generated CHF 81.0 million, which is 11.6 percent more than the year-back figure. After adjusting for currency fluctuations (in euros), Automotive sales went up by 17.8 percent. The Micronas Group’s operating profit (EBIT) went up 59.6 percent year-on-year to CHF 13.1 million. The EBIT margin rose from 10.3 to 15.1 percent. After taking account of financial income and expenses, and taxes, Micronas posted a profit of CHF 7.0 million for the first half-year, an increase of CHF 5.7 million on the prior-year period. Earnings per share stood at CHF 0.24. At the end of June 2012, Micronas held cash and cash equivalents of CHF 159.5 million, compared with CHF 156.2 million at end-2011. With equity capital at CHF 136.4 million (CHF 129.2 million at end-2011) the equity ratio came to 48.6 percent. “Micronas can look back on a good first half of 2012. The positive trend at the Company continues,” says Micronas CEO Matthias Bopp. “Not only did profit and sales rise significantly compared with the first half of 2011, but they also exceeded the expectations we announced at the start of the year.” Thanks to the positive demand trend, utilization of production capacity at the Freiburg wafer fab rose to more than 80 percent in the first half of 2012, up from 70 percent in the prior-year period. The fall in sales of consumer products was more than offset by a continuous rise in sales of products for the automotive and industrial market. Short-time work at the Freiburg plant, which was only needed to a small extent in the first half-year, was stopped altogether at the end of June 2012. Despite the uncertain economic outlook, the Board of Directors and Management believe that global demand for automotive products will hold firm in the second half of the year. For 2012 as a whole, they expect net sales of about CHF 170 million, and an EBIT margin of around 15 percent.
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