DGAP-News: Elmos Semiconductor SE meets forecast for the second quarter 2020 - turning point in the current quarter

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):

* For purposes of comparison, information on the consolidated income statement relates exclusively to continuing operations.

Definitions of selected financial indicators

- Adjusted free cash flow: Cash flow from operating activities, less investments in/plus disposals of intangible assets and property, plant and equipment (including proceeds from disposals of consolidated companies)

- Capital expenditures: Capital expenditures in intangible assets and property, plant and equipment less capitalized development costs

- Further information on the key figures used can be found in the 2019 Annual Report at www.elmos.com

Interim report 2020

Further information on the second quarter 2020 and the first half-year 2020 of Elmos Semiconductor SE will be published on August 5, 2020 within the context of the interim report for the first half-year 2020. This report will be available at www.elmos.com. On August 5, 2020 Elmos will hold a conference call (in English) for analysts and investors at 11:00 a.m. (CEST). The conference call will later be available on the website.

Contact

Elmos Semiconductor SE

Janina Rosenbaum, Head of Investor Relations, Phone: +49-231‐7549‐287

Mathias Kukla, Press Relations, Phone: +49-231-7549-199

E-mail: [email protected]

About Elmos

Elmos develops, produces and markets semiconductors, primarily for use in the automotive industry. 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 more energy efficient. With our solutions we are already the worldwide #1 in applications with great future potential, such as ultrasonic distance measurement, ambient light and intuitive HMI.

Notice

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 to be realistic, we cannot guarantee the expectations will prove right. The assumptions may carry 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.