Dortmund, Germany, November 8, 2017: Elmos Semiconductor AG (FSE: ELG) succeeded in increasing both sales and earnings year on year in the third quarter of 2017. Sales increased by 9.3% to 61.6 million Euro. EBIT grew to 10.3 million Euro for an EBIT margin of 16.7%. Capital expenditures stood at 8.7 million Euro, or 14.2% of sales, in the reporting period. At 0.9 million Euro, adjusted free cash flow in the reporting period was slightly positive.
“Demand for Elmos products remains positive. Over the course of the year, Elmos has launched significant initiatives and capital expenditures in order to prepare for further growth,” says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.
Elmos expects sales growth for 2017 in the upper single-digit percentage range. The EBIT margin will stand at more than 12%. Capital expenditures for property, plant and equipment and intangible assets, less capitalized development expenses, will amount to less than 15%. The adjusted free cash flow will be negative. The forecast is based on an exchange rate of 1.10 USD/EUR.
Overview of selected key financials according to IFRS (in million Euro or percent, unless otherwise indicated):
| Q3/17 | Q3/16 | Diff. | 9M/17 | 9M/16 | Diff. | |
| Sales | 61.6 | 56.4 | 9.3% | 181.9 | 165.1 | 10.2% |
| Gross profit | 27.5 | 24.4 | 12.9% | 77.3 | 67.3 | 14.8% |
| Gross margin in % | 44.7% | 43.2% | 42.5% | 40.8% | ||
| Research and development | 7.5 | 8.5 | -12.6% | 26.0 | 26.9 | -3.2% |
| Operating income | 10.3 | 6.1 | 68.6% | 21.6 | 11.1 | 95.0% |
| EBIT | 10.3 | 6.3 | 63.3% | 21.2 | 11.9 | 78.1% |
| EBIT margin in % | 16.7% | 11.2% | 11.6% | 7.2% | ||
| Consolidated net income after non-controlling interests | 7.1 | 4.1 | 75.0% | 14.3 | 7.7 | 85.4% |
| Basic earnings per share (Euro) | 0.36 | 0.21 | 76.2% | 0.73 | 0.39 | 85.3% |
| Capital expenditures | 8.7 | 2.0 | >100% | 22.2 | 18.6 | 19.7% |
| Capital expenditures in % | 14.2% | 3.5% | 12.2% | 11.2% | ||
| Adjusted free cash flow | 0.9 | 9.8 | -90.5% | -0.7 | 0.7 | n/a |
Definition 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 (prior-year figures adjusted in accordance with new definition)
- Please refer to the Annual Report 2016 of Elmos Semiconductor AG at www.elmos.com for more details on the key figures used.
Quarterly statement / Conference call
You will find more information on the third quarter of 2017 and the first nine months of 2017 for Elmos Semiconductor AG in the quarterly statement. The statement is available at www.elmos.com. Elmos will hold a teleconference (in English) for analysts and investors at 11:30 a.m. (CET) on November 8, 2017. The teleconference will be uploaded later to the website later, where it can be accessed.
About Elmos Semiconductor AG
Elmos develops, produces and markets semiconductors and sensors, primarily for automotive use. 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 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 are realistic, we cannot guarantee the expectations will prove to be correct. The assumptions may harbor 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.