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ELMOS increases group net income in 2008 |
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Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
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Saving measures initiated - low visibility for 2009
Dortmund: ELMOS Semiconductor AG (FSE: ELG) kept past year's sales at
a constant level compared to the previous year. Sales amounted to
175.1 million Euro (2007: 176.1 million Euro). By targeted measures
for the improvement of earnings, the gross profit, EBIT, and group
net income could be improved. The gross profit came to 75.6 million
Euro (2007: 73.1 million Euro). The gross margin was 43.2% (2007:
41.5%). Earnings before interest and taxes (EBIT) climbed to 16.5
million Euro (2007: 15.2 million Euro). The 20.5% increase of the
group's net income to 10.6 million Euro was disproportionately high
(2007: 8.8 million Euro). At 10.3 million Euro, the free cash flow
was positive.
"The commitment to the improvement of earnings showed positive
results, as can be seen with EBIT and group net income. After the
good start into the year, however, we could not dissociate ourselves
from the market situation in the final months of 2008", says Dr.
Anton Mindl, CEO of ELMOS Semiconductor AG.
In the fall of 2008 the Management Board launched a first program,
including among other measures reduced number of wafers-in regarding
production, cost cuttings regarding all divisions, and short-time
work at various locations. "The launched measures have put us in a
good starting position. We will continue to focus on cost reduction
and realize our strategic steps in an adapted way so that we are
convinced we will emerge stronger from this crisis", Mindl continues.
ELMOS is presently not able to provide a quantified forecast for the
year 2009 due to the currently difficult market situation and the
insufficient visibility. As the development of orders received has
been weak, the first half-year 2009 will show a significant slump in
sales.
Against the backdrop of the general economy, Management Board and
Supervisory Board consider it the right decision - despite the sound
results 2008 - to keep the liquid funds in the company and not to pay
a dividend.
The complete annual report for fiscal year 2008 will be available on
the Internet at www.elmos.de on March 18, 2009 at 10:00 a.m.
On March 18, 2009 at 10:00 a.m. (CET) the annual press conference
will be held in Dortmund. At 4:00 p.m. the analysts' conference will
begin in Frankfurt/Main. This event will be broadcast live per
webcast on the ELMOS website (www.elmos.de) and will later be
available as a recording.
Overview of financial figures 2008 according to IFRS (in million Euro
or percent):
+-------------------------------------------------------------------+
| In million Euro or percent, unless | 2008 | 2007 | Diff. |
| otherwise indicated | | | |
|-------------------------------------------+-------+-------+-------|
| Sales | 175.1 | 176.1 | -0.6% |
|-------------------------------------------+-------+-------+-------|
| Gross profit | 75.6 | 73.1 | 3.4% |
|-------------------------------------------+-------+-------+-------|
| Operating income | 15.4 | 14.5 | 6.3% |
|-------------------------------------------+-------+-------+-------|
| EBIT | 16.5 | 15.2 | 8.4% |
|-------------------------------------------+-------+-------+-------|
| Net income | 10.6 | 8.8 | 20.5% |
|-------------------------------------------+-------+-------+-------|
| Earnings per share (Euro) | 0.55 | 0.45 | 20.5% |
+-------------------------------------------------------------------+
ELMOS Semiconductor AG is a producer and developer of system
solutions on semiconductor basis. For more than 20 years, roughly 90%
of sales have been generated with chips for automotive electronics.
ELMOS Semiconductor AG
Janina Rosenbaum
Heinrich-Hertz-Str. 1
44227 Dortmund
Germany
Phone +49 231-75 49-0
Extension -287
Fax +49 231-75 49-548
info@elmos.de
www.elmos.de
--- End of Message ---
ELMOS Semiconductor AG
Heinrich-Hertz-Strasse 1 Dortmund
Deutschland
WKN: 567710; ISIN: DE0005677108; Index: Prime All Share, CDAX, HDAX,
MIDCAP, TECH All Share, GEX;
Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in
Börse Düsseldorf,
Freiverkehr in Börse Berlin, Freiverkehr in Hanseatische
Wertpapierbörse zu Hamburg,
Freiverkehr in Niedersächsische Börse zu Hannover, Freiverkehr in
Börse Stuttgart,
Freiverkehr in Bayerische Börse München, Regulierter Markt in
Frankfurter Wertpapierbörse; Copyright © Hugin AS 2009. All rights reserved.
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