DGAP-News: Elmos Semiconductor SE meets forecast for the second quarter 2020 - turning point in the current quarter
DGAP-News: Elmos Semiconductor SE
/ Key word(s): Half Year Results/Forecast
Q2 2020: Sales at 58.8 million Euro / EBIT margin at 5.4% Dortmund, August 3, 2020: 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. "While sales are currently still strongly influenced by the effects of the coronavirus pandemic, we see the turning point in the third quarter due to the development of incoming orders. We perceive a revival of business in the different regions, especially Asia," says Dr. Anton Mindl, CEO of Elmos Semiconductor SE. "Moreover, our development projects are running at full speed and customer acquisition is equally successful. Our position in the market as, among other things, the global leader in ultrasonic distance measurement and a key player for LED rear lighting, is leading to numerous new customer relationships in various markets. Interest is also growing steadily in our semiconductors for ambient lighting in vehicles, the market-leading gesture control for intuitive operation, and our highly sensitive yet robust evaluation ICs. Recently developed solutions that specifically address the pressure and temperature monitoring needs of high-performance batteries in electric vehicles have generated important design wins with market-leading customers. We are therefore convinced that in the medium and long term we will participate disproportionately in the dynamic growth of semiconductors in vehicles." Elmos expects sales of between 37 and 41 million Euro for Q3 2020. EBIT is expected to be between -13 and -10 million Euro. The guidance is based on an exchange rate of 1.15 EUR/USD. Overview of financials Figures according to IFRS (in million Euro or percent unless otherwise indicated):
Definitions of selected financial indicators About Elmos Notice
03.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | 1108543 |
End of News | DGAP News Service |
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1108543 03.08.2020
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