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Electronics Production | August 15, 2007

ELMOS keeps growing in second quarter

ELMOS Semiconductor AG has continued its sales increase in the second quarter. Sales rose to 43.7 million Euro, a 10.5 percent gain over the prior-year period (Q2/2006: 39.5 million Euro).
On half-year basis, sales increased by 10.2 percent to reach 84.9 million Euro (HY1/2006: 77.1 million Euro). The semiconductor segment and micromechanics showed comparably strong growth rates.

"The sales increase signifies a positive and sound development above the market trend. We do not anticipate a slowdown of our growth for the second half-year. And we confirm our forecast for the whole year", says Dr. Anton Mindl, CEO of ELMOS Semiconductor AG. "The demand for our solutions in the automotive core business is still high. Furthermore, we could win important projects in the industrial and consumer goods markets in the first half-year."

For the current year, ELMOS predicts a sales increase of roughly ten percent, a gross margin of roughly 45 percent, an EBIT margin of roughly twelve percent, and a net income margin of roughly seven percent. Taking into consideration the non-recurring restructuring expenses at subsidiaries - reported in April -, the margins will each be burdened by approximately three percentage points. Restructuring the subsidiaries and the run-up of the Duisburg production proceed as scheduled.

Without consideration of the non-recurring expenses, the gross profit rose by roughly 0.9 million Euro to 18.8 million Euro or 43.0 percent of sales in the second quarter. The EBIT came to 4.4 million Euro, corresponding with the prior-year quarter's amount. The net income was 2.5 million Euro or 5.7 percent of sales.

Considering restructuring expenses, the gross profit of the second quarter remained stable at 18.2 million Euro (plus two percent). The EBIT decreased to 3.8 million Euro, and the net income for the quarter amounted to 2.1 million Euro.

On half-year basis, the gross profit (37.2 million Euro), the EBIT (8.8 million Euro), and the net income (5.0 million Euro) have increased compared to the prior-year period. Considering non-recurring expenses, ELMOS achieved a gross profit of 34.6 million Euro, an EBIT of 4.3 million Euro, and a net income of 2.1 million Euro.

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