DGAP-News: Elmos Semiconductor AG: Sales growth of 3.3% in Q1 2020
DGAP-News: Elmos Semiconductor AG
/ Key word(s): Quarter Results/Forecast
Coronavirus expected to affect the rest of the year Dortmund, May 6, 2020: Elmos Semiconductor AG (FSE: ELG) increased sales by 3.3% year on year, to 64.2 million Euro, in the first quarter of 2020 (Q1 2019 sales of continuing operations of 62.2 million Euro). EBIT amounted to 7.1 million Euro. That corresponds to an EBIT margin of 11.0% and reflects the expansion of development resources, among other things. Capital expenditures amounted to 5.8 million Euro, or 9.1% of sales. High operating cash flow also had a positive effect on the adjusted free cash flow of 13.5 million Euro in the reporting quarter. "We assume that the numerous plant closures among automotive manufacturers will have a significant negative impact on business performance over the rest of the year," says Dr. Anton Mindl, CEO of Elmos Semiconductor AG. "Elmos started protecting its employees with comprehensive preventive measures at an early stage. At the same time, we have implemented operational measures including short-time work, and will expand those measures to manage the economic effects of the crisis caused by the pandemic. Since, among other things, customer acquisition continues at the same high level, we believe that Elmos remains in a very strong position in the medium term. That is particularly the case thanks to our strong financial position." Elmos expects sales of between 55 and 60 million Euro in Q2 2020. An EBIT margin of between 1% and 6% of sales is expected. The guidance is based on an exchange rate of 1.10 EUR/USD. Due to the current situation, no full year guidance is being issued for 2020. Overview of financials Figures according to IFRS (in million Euro or percent unless otherwise indicated):
Definitions of selected financial indicators About Elmos Semiconductor AG Notice
06.05.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Elmos Semiconductor AG |
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: | 1036405 |
SDAX |
End of News | DGAP News Service |
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1036405 06.05.2020
Elmos Semiconductor AG Stock
Elmos Semiconductor AG is currently one of the favorites of our community with 6 Buy predictions and no Sell predictions.
With a target price of 80 € there is a slightly positive potential of 5.96% for Elmos Semiconductor AG compared to the current price of 75.5 €.