Elmos Semiconductor AG (FSE: ELG) increased sales and earnings year on year in the second quarter of 2017. Sales grew 8.2% to 59.5 million Euro. EBIT reached 6.2 million Euro or an EBIT margin of 10.4%. In the reporting period, capital expenditures for property, plant and equipment and intangible assets, less capitalized development expenses, amounted to 6.3 million Euro or 10.6% of sales, and adjusted free cash flow stood at –3.0 million Euro.
“We are pleased by the demand for our solutions. To facilitate future growth, we will continue strengthening our structures, particularly in product development and testing. We will also be taking additional steps to improve our delivery flexibility,” says Dr. Anton Mindl, CEO of Elmos Semiconductor AG.
Elmos expects sales growth for 2017 in the upper single-digit percentage range, as already announced on July 25, 2017. The EBIT margin will stand at more than 12%. Capital expenditures for property, plant and equipment and intangible assets, less capitalized development expenses, will amount to less than 15%. The adjusted free cash flow* will be negative. The forecast is based on an exchange rate of 1.10 USD/EUR.
Overview of selected key financials according to IFRS (in million Euro or percent, unless otherwise indicated)
Gross margin in %
Research and development
EBIT margin in %
Consolidated net income after non-controlling interests
Basic earnings per share (Euro)
Capital expenditures in %**
Adjusted free cash flow*
* Cash flow from operating activities less capital expenditures for/plus disposal of intangible assets and property, plant and equipment
** Capital expenditures for intangible assets and property, plant and equipment, less capitalized development expenses
*** Prior year’s figures adjusted in line with the new definition
You will find more information on the second quarter of 2017 and the first half of 2017 for Elmos Semiconductor AG in the interim report for the first half of the year 2017. This report is available at www.elmos.com. Elmos will hold a conference call (in English) for analysts and investors at 11:30 (CEST) on August 2, 2017. The conference call will be uploaded to the website later, where it can be accessed.
About Elmos Semiconductor AG
Elmos develops, produces and markets semiconductors and sensors, primarily for automotive use. 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 energy efficient.
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 are realistic, we cannot guarantee the expectations will prove to be correct. The assumptions may harbor 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.