Dortmund, May 11, 2022: Elmos Semiconductor SE (FSE: ELG) held its virtual Annual General Meeting today. In total, over 81% of the share capital was represented. The shareholders adopted all of the items on the agenda by a large majority. The Annual General Meeting approved a 25% dividend increase to 0.65 Euro per share for fiscal year 2021. The dividend will be paid on May 16, 2022.
As in the past two years, the Annual General Meeting was held as a virtual event to protect the health of shareholders, employees, and the participating service providers.
In his presentation, Dr. Arne Schneider, the CEO of Elmos Semiconductor SE, outlined the main business and strategic achievements of a remarkably successful fiscal year 2021 and referred to the special challenges in connection with the ongoing coronavirus pandemic, global shortages, and the war in Ukraine. Dr. Schneider pointed out that Elmos’ excellent positioning, strong financial basis, and innovative products will allow it to continue to benefit sustainably from the structural growth of the semiconductor market, as well as from the increasing electrification of all vehicle systems and functions.
In the first quarter of 2022, Group sales grew significantly by 25% to 96.4 million Euro. Thanks to the high growth, EBIT at Elmos also increased to 19.5 million Euro. The EBIT margin improved to 20.2% compared to 15.8% in the previous year.
On May 3, 2022, Elmos raised its guidance for the full year due to the current order situation and the available wafer capacities. Elmos now expects Group sales of more than 400 million Euro and an operating EBIT margin of 21% ± 2 percentage points of sales for fiscal year 2022. The anticipated operating EBIT margin does not include any effects from a possible closing of the sale of the Elmos wafer fab to Silex Microsystems AB. The expansion of test capacities will be continued, with Elmos forecasting capital expenditures of around 17% ± 2 percentage points of sales. For fiscal year 2022, the company still expects to generate a positive operating adjusted free cash flow above the previous year (11.1 million Euro). The guidance is based on an exchange rate of 1.10 EUR/USD.
Elmos Semiconductor SE
Ralf Hoppe, Head of Investor Relations & Public Relations
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.