DGAP-Adhoc: Elmos Semiconductor AG: Cooperation between Elmos Semiconductor AG and Fraunhofer Institute Duisburg will end in accordance with the contract on June 30, 2020
DGAP-Ad-hoc: Elmos Semiconductor AG / Key word(s): Alliance
The cooperation between Elmos Semiconductor AG (FSE: ELG) and Fraunhofer Institute for Microelectronic Circuits and Systems (IMS) in Duisburg will end on June 30, 2020 in accordance with the agreed contract period.
The end of this agreement will result in restructuring expenses in the amount of about 11 million Euro for Elmos. The corresponding provisions will be recognized in the 2019 financial year. The operating EBIT margin, excluding the one-off effects of the sale of the subsidiary SMI as of September 30, 2019 and the above-mentioned provisions, is expected to remain unchanged at 13% to 17% of sales for fiscal year 2019. Apart from the restructuring expenses, the expiration of the cooperation will not have any significant impact on operating earnings in the future. The guidance for 2020 will be announced in the course of the analyst conference and the publication of the preliminary figures for 2019, which is planned to take place on February 18, 2020. The most recently published financial figures can be found in our Q3 2019 report under the following link. https://www.elmos.com/english/about-elmos/investor/financial-reports.html
About Elmos Note Contact
27-Jan-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Elmos Semiconductor AG |
Heinrich-Hertz-Str. 1 | |
44227 Dortmund | |
Germany | |
Phone: | +49 (0)231 7549-510 |
Fax: | +49 (0)231 7549-111 |
E-mail: | [email protected] |
Internet: | http://www.elmos.com |
ISIN: | DE0005677108 |
WKN: | 567710 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 961527 |
End of Announcement | DGAP News Service |
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961527 27-Jan-2020 CET/CEST
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