February 10, 2015 / 21:25 CET
Elmos Semiconductor AG (FSE: ELG) has met its targets for sales and earnings in the past financial year 2014, according to preliminary unaudited financials. Sales for the full year 2014 increased considerably by 10.8% to 209.5 million Euro (2013: 189.1 million Euro). Thus the 200 million Euro level was exceeded for the first time in the Company’s history. Gross profit of 91.4 million Euro was achieved, corresponding to a gross margin of 43.6% (2013: 79.2 million Euro or 41.9%). The EBIT was improved continuously in the course of the year. Considering the full year, Elmos generated an EBIT in the amount of 22.6 million Euro, corresponding to an EBIT margin of 10.8% (2013: 12.7 million Euro or 6.7%). Consolidated net income amounted to 18.3 million Euro, equivalent to earnings per share (EPS) of 0.94 Euro (2013: 9.4 million Euro or 0.49 Euro).
Due to the sustained positive performance in earnings and cash flows, Supervisory Board and Management Board will propose to the Annual General Meeting to be held in May 2015 a dividend payment increased by roughly one third. After a dividend of 0.25 Euro per share for 2013, the dividend for 2014 is scheduled to amount to 0.33 Euro per share now.
Sales in Q4 2014 were similar to the sales levels reached for the previous quarter as well as the prior-year quarter of comparison (Q4 2014: 53.5 million Euro, Q3 2014: 54.7 million Euro, Q4 2013: 52.7 million Euro). The same applies for the gross margin (Q4 2014: 45.5%, Q3 2014: 45.7%, Q4 2013: 45.8%). In contrast to that, the EBIT for the final quarter of the year 2014 increased significantly, coming to 8.2 million Euro, corresponding to an EBIT margin of 15.3% (Q3 2014: 11.1%, Q4 2013: 13.6%). This is accounted for primarily by lower expenses compared to the preceding quarter. Elmos achieved 6.3 million Euro in net income for the fourth quarter of 2014 after 4.9 million Euro in the prior-year quarter of comparison.
Elmos expects growth in the mid single-digit percentage range for the current financial year 2015. We also assume that we will manage to expand the strength of our operating performance despite a highly competitive business environment and we therefore anticipate a slightly improved EBIT margin in
2015 compared to 2014. Once more Elmos will spend less than 15% of sales for capital expenditures and score a positive value in adjusted free cash flow again.
Contact
Elmos Semiconductor AG
Janina Rosenbaum, Head of Investor Relations, Fon: +49231‐7549‐287
Mathias Kukla, Press Relations, Fon: +49231‐7549‐199
Email: invest@elmos.com
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.