Dortmund, Germany, May 8, 2018: Elmos Semiconductor AG (FSE: ELG) generated sales growth of 4.5% year on year to 63.5 million Euro in the first quarter of 2018. The EBIT margin rose to 12.4%, corresponding to an EBIT of 7.9 million Euro. Capital expenditures stood at 9.0 million Euro, or 14.2% of sales, in the reporting period. Adjusted free cash flow amounted to -7.1 million Euro.
“The year began in line with our expectations. The order situation remains good and puts us in a positive frame for the quarters ahead. Our products are convincing on the market,” says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.
Elmos confirms the guidance and anticipates sales growth of 8% to 12% for 2018. The EBIT margin is expected to be between 13% and 17%. As in the previous year, capital expenditures should amount to less than 15% of sales. Due to these investments for further growth, we expect negative adjusted free cash flow in 2018. Continued good economic conditions are the prerequisite for this guidance. The forecast is based on an exchange rate of 1.20 USD/EUR.
Overview of financials
Figures according to IFRS (in million Euro or percent unless otherwise indicated):
| Q1/18 | Q1/17 | Diff. | |
| Sales | 63.5 | 60.8 | 4.5% |
| Gross profit on sales | 25.7 | 24.7 | 4.1% |
| Gross margin in % | 40.5% | 40.7% | |
| Research and development | 7.8 | 9.7 | -19.8% |
| EBIT | 7.9 | 4.7 | 68.1% |
| EBIT margin in % | 12.4% | 7.7% | |
| Consolidated net income after non-controlling interests | 5.4 | 2.9 | 86.3% |
| Basic earnings per share (Euro) | 0.28 | 0.15 | 88.0% |
| Capital expenditure | 9.0 | 7.1 | 26.5% |
| Capital expenditure in % | 14.2% | 11.8% | |
| Adjusted free cash flow | -7.1 | 1.4 | n/a |
Definitions of select 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 expenditure: Capital expenditures for intangible assets and property, plant and equipment less capitalized development expenses (prior-year figures adjusted in accordance with new definition)
- You will find further explanations of the indicators used in the 2017 Annual Report for Elmos Semiconductor AG at www.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.