03-Nov-2020 / 20:13 CET/CEST
Elmos Semiconductor SE (FSE: ELG) achieved sales of 40.9 million Euro in the third quarter of 2020 (Q3 2019 sales of continuing operations: 67.8 million Euro), finishing at the upper end of the guidance range of 37 to 41 million Euro. EBIT amounted to -10.5 million Euro in the reporting quarter (Q3 2019 EBIT of continuing operations: 9.7 million Euro). Capital expenditures remained at a low level of 3.7 million Euro or 9.1% of sales. Adjusted free cash flow was almost balanced at -0.5 million Euro.
In 2020 Elmos expects sales of between 227 and 233 million Euro. EBIT is expected to be between 6 and 9 million Euro. These figures are above market expectations. The guidance is based on an exchange rate of 1.15 EUR/USD.
Elmos sees significant recovery in its business with very strong sequential growth in the fourth quarter of 2020. The Management perceives a widespread recovery, however the strongest impetus is coming from Asia.
Quarterly report Q3 2020
Further information on the third quarter 2020 and the first nine months 2020 of Elmos Semiconductor SE can be found in the quarterly report Q3 2020. This report is available at www.elmos.com. Elmos will hold a conference call (in English) for analysts and investors on November 4, 2020 at 11.00 a.m. (CET). The conference call will be available later on the website.
Elmos Semiconductor SE
Janina Rosenbaum, Head of Investor Relations, Phone: +49-231‐7549‐287
Elmos develops, produces and markets semiconductors, 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. With our solutions we are already the worldwide #1 in applications with great future potential, such as ultrasonic distance measurement, ambient light and intuitive HMI.
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.