October 27, 2015 / 21:53 CEST
Elmos Semiconductor AG (FSE: ELG) now predicts sales to increase by roughly 4% in 2015 compared to the previous year (formerly: 5 to 9% sales growth) as market conditions in recent days and weeks have become more difficult and as the year-end therefore seems to turn out weaker than originally expected. This is a result of a more cautious order behavior of several customers, mainly due to the developments in China. For 2015 Elmos expects an EBIT margin at around the previous year’s level (2014: 10.8% / formerly: slightly better than 10.8%).
Unchanged from the former forecast, a positive adjusted free cash flow* and capital expenditures for intangible assets and property, plant and equipment of less than 15% of sales are expected (both disregarding the one-off effect from the prematurely terminated lease contract). This forecast is based on an exchange rate of 1.10 USD/EUR.
According to preliminary figures, sales of the third quarter 2015 remained almost unchanged at 54.6 million Euro compared to the prior-year quarter (Q3 2014: 54.7 million Euro). Gross profit decreased to 22.5 million Euro (Q3 2014: 25.0 million Euro), mainly affected by the strong U.S. dollar in the reporting period. This corresponds to a gross margin of 41.3% (Q3 2014: 45.7%). In relation to sales, operating expenses went down to 32.6% (Q3 2014: 35.2%). EBIT increased disproportionately – also due to extraordinary effects – by 16.5% to 7.1 million Euro (Q3 2014: 6.1 million Euro). Thus the EBIT margin reached 12.9% in the third quarter of 2015 (Q3 2014: 11.1%). Consolidated net income gained 19.3% to reach 4.7 million Euro (Q3 2014: 3.9 million Euro), resulting in basic earnings per share of 0.24 Euro for the quarter under review (Q3 2014: 0.20 Euro).
The complete interim report will be released on November 4, 2015. On the same day, Elmos will hold a conference call at 11.30 a.m. (CET) in English for analysts and investors. Overview of preliminary figures according to IFRS (in million Euro or percent unless otherwise indicated):
| Q3/15 | Q3/14 | Diff. | 9M/15 | 9M/14 | Diff. | |
| Sales | 54.6 | 54.7 | -0.2% | 164.3 | 156.0 | 5.3% |
| Gross profit | 22.5 | 25.0 | -10.0% | 68.3 | 67.1 | 1.8% |
| EBIT | 7.1 | 6.1 | 16.5% | 17.5 | 14.4 | 21.9% |
| EBIT margin | 12.9% | 11.1% | 10.7% | 9.2% | ||
| Consolidated net income after non-controlling interests | 4.7 | 3.9 | 19.3% | 11.8 | 12.0 | -1.9% |
| Basic earnings per share (Euro) | 0.24 | 0.20 | 0.60 | 0.62 |
* Cash flow from operating activities less capital expenditures for intangible assets and property, plant and equipment, less payments for investments, plus disposal of investments
Contact
Elmos Semiconductor AG
Janina Rosenbaum, Head of Investor Relations, Fon: +49231‐7549‐287
Mathias Kukla, Press Relations, Fon: +49231‐7549‐199
Email: invest@elmos.com
Notice
This release contains forward-looking statements that are based on assumptions and estimates made by the Elmos management. Even though we assume the underlying expectations of the forward-looking statements to be realistic, we cannot guarantee the expectations will prove right. The assumptions may carry risks and uncertainties, and as a result actual events may differ materially from the forward-looking statements. Among the factors that could cause such differences are changes in general economic and business conditions, fluctuations of exchange rates and interest rates, the introduction of competing products, lack of acceptance of new products, and changes in business strategy. Elmos neither intends nor assumes any obligation to update its statements with respect to future events.