13.02.2019 / 14:33 CET/CEST
According to its preliminary, unaudited figures for 2018, Elmos Semiconductor AG (FSE: ELG) increased its sales by 10.8% to 277.6 million Euro. EBIT also increased by 32.8% to 51.0 million Euro, which corresponds to an EBIT margin of 18.4%. Investment amounted to 14.9% of sales and was primarily related to the further expansion of testing capacities. At -3.3 million Euro, adjusted free cash flow was negative, as expected. In Q4 2018, sales grew by 10.3% to 75.6 million Euro and the EBIT reached 16.9 million Euro or an EBIT margin of 22.4%
Due to the ongoing positive development of the company and its results, the Supervisory Board and the Management Board decided today to propose a dividend increase to 0.52 Euro per share (previous year: 0.40 Euro per share) at the Annual General Meeting on May 15, 2019.
Based on current economic environment, Elmos expects year-on-year growth in sales of 6% to 10%. The EBIT margin is expected to be between 13% and 17%. Investment should amount to <15% of sales. Elmos expects to achieve a positive adjusted free cash flow in 2019. This forecast is based on an exchange rate of 1.15 USD/EUR.
Overview of financials
Overview of select, preliminary and unaudited financial figures in accordance with the IFRS (in millions of Euro/percent, unless indicated otherwise):
| 2018 | 2017 | Diff. | Q4/18 | Q4/17 | Diff. | |
|---|---|---|---|---|---|---|
| Sales | 277.6 | 250.4 | 10.8% | 75.6 | 68.5 | 10.3% |
| Gross profit on sales | 125.5 | 110.1 | 14.0% | 37.2 | 32.8 | 13.5% |
| Gross margin in % | 45.2% | 43.9% | 49.2% | 47.8% | ||
| Research and development | 36.0 | 33.8 | 6.7% | 10.5 | 7.8 | 34.8% |
| EBIT | 51.0 | 38.4 | 32.8% | 16.9 | 17.3 | -2.0% |
| EBIT margin in % | 18.4% | 15.3% | 22.4% | 25.2% | ||
| Consolidated net income after non-controlling interests | 35.4 | 24.9 | 42.1% | 12.2 | 10.6 | 15.0% |
| Basic earnings per share (Euro) | 1.79 | 1.26 | 42.0% | 0.62 | 0.54 | 14.4% |
| Capital expenditures | 41.4 | 37.2 | 11.1% | 11.6 | 15.0 | -22.7% |
| Capital expenditures in % | 14.9% | 14.9% | 15.4% | 21.9% | ||
| Adjusted free cash flow | -3.3 | -5.2 | -36.2% | -4.2 | -4.4 | -4.2% |
Definitions of selected financial indicators
- Adjusted free cash flow: Cash flow from operating activities less capital expenditures for/plus disposals of intangible assets and property, plant and equipment
- Capital expenditures: Capital expenditures for intangible assets and property, plant and equipment less capitalized development expenses
- You will find further explanations of the indicators used in the 2017 Annual Report for Elmos Semiconductor AG at www.elmos.com
Webcast/presentation for analysts
Elmos will be carrying out a webcast for analysts and investors on February 14, 2019, at 9:30 a.m. (CET). You will be able to access the webcast and the analyst presentation on the website. The final figures and the complete Annual Report for 2018 are expected to be published on March 14, 2019.
Contact
Elmos Semiconductor AG
Thalea Blunk, Head of Investor Relations, Fon: +49231‐7549‐273
Mathias Kukla, Press Relations, Fon: +49231‐7549‐199
Email: invest@elmos.com
About Elmos Semiconductor AG
Elmos develops, produces and markets semiconductors and sensors, primarily for use in the automotive industry. Our components communicate, measure, regulate and control safety, comfort, powertrain and network functions. For over 30 years, Elmos innovations have been bringing new functions to life and making mobility worldwide safer, more comfortable and more energy efficient.
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.