DGAP-Adhoc: Elmos Semiconductor SE: Q3 2020 forecast below consensus - turning point in the current quarter
DGAP-Ad-hoc: Elmos Semiconductor SE / Key word(s): Half Year Results/Forecast Elmos Semiconductor SE (FSE: ELG) achieved sales of 58.8 million Euro in the second quarter of 2020 (Q2 2019 sales of continuing operations: 67.7 million Euro). As expected, the second quarter of 2020 was impacted by the crisis caused by the coronavirus pandemic. EBIT amounted to 3.2 million Euro in the reporting quarter, which corresponds to an EBIT margin of 5.4%. Investments were scaled back due to the course of business and amounted to 3.3 million Euro, or 5.6% of sales. Adjusted free cash flow amounted to -10.3 million Euro and was also influenced by tax payments. Extensive cost-cutting measures were introduced, such as short-time work in all production areas and significant parts of administration. Elmos expects sales of between 37 and 41 million Euro for Q3 2020. EBIT is expected to be between -13 and -10 million Euro. These figures differ substantially from the analysts' consensus. The guidance is based on an exchange rate of 1.15 EUR/USD. While sales are currently still strongly influenced by the effects of the coronavirus pandemic, Elmos sees the turning point in the third quarter due to the development of incoming orders and recent customer feedback. The Management perceives a revival of business in the different regions, especially Asia. Overview of financials Figures according to IFRS (in million Euro or percent unless otherwise indicated):
Definitions of selected financial indicators About Elmos Notice
03-Aug-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Elmos Semiconductor SE |
Heinrich-Hertz-Str. 1 | |
44227 Dortmund | |
Germany | |
Phone: | +49 (0)231 7549-575 |
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: | 1108503 |
End of Announcement | DGAP News Service |
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1108503 03-Aug-2020 CET/CEST
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