Elmos increases semiconductor sales by 7.7% in 2019

Including the micromechanics segment sold, total sales increased to EUR 294.8 million. Operating EBIT was EUR 45.3 million or 15.4% of sales. The reported EBIT, after taking into account the profit from the sale of the SMI in the amount of EUR 63.1 million and the restructuring costs of EUR 11.1 million for the termination of the cooperation with the Fraunhofer Institute IMS, was EUR 97.3 million. Investments reached 14.8% of sales. Adjusted free cash flow - largely influenced by the inflow of funds from the SMI sale - was significantly positive at EUR 76.9 million. In Q4 2019, sales of the semiconductor business rose by 8.4% to 75. “Elmos achieved growth in 2019 in a challenging market environment that clearly sets us apart from the competition. Furthermore, with the SMI sale and the expansion of R&D capacities, we took exactly the right steps to focus on the attractive core business,” says Dr. Anton Mindl, CEO of Elmos, in a press release. "Although we will continuously expand our application and customer coverage in 2020, the currently difficult market environment and the already high sales level in 2019 will only enable growth in the low single-digit percentage range." In line with the currently subdued economic situation, particularly in the automotive sector and subject to a currently unpredictable impact of the coronavirus on the economy, Elmos anticipates sales growth in 2020 in the low single-digit percentage range compared to sales in 2019 of EUR 273.4 million in the continued semiconductor segment. The EBIT margin should be between 11% and 16%.