ELMOS Semiconductor AG / Pure forecast / Ad hoc: ELMOS: Economy
burdens sales forecast 2008
Ad hoc announcement according to §15 WpHG processed and transmitted
by Hugin. The issuer is solely responsible for the content of this
announcement.
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Improvement of earnings quality expected compared to previous year
According to first calculations ELMOS Semiconductor AG (FSE: ELG)
will achieve sales in the third quarter 2008 below its own
expectations. Due to lack of impulses from incoming orders ELMOS does
not anticipate any significant increase in sales in the fourth
quarter 2008 either. The reason is the weak automotive economic
situation. The reduced production and sales of new vehicles at first
leads to reduced orders and order cancellations at ELMOS.
Sales in 2008 are predicted roughly on the same level as 2007 (2007:
176 million Euro). The earnings quality will improve in comparison to
the previous year (EBIT margin 2007: 8.6%). The operative
improvements of the past months, in particular at the production
sites and the U.S. subsidiaries show positive effects. Due to the
existing economic risks one can assume that the EBIT margin will be
below the originally expected range of 12% to 14%.
The aim of a positive Free Cash Flow remains unchanged.
Against the background of strongly altered market conditions ELMOS
has already introduced first measures on the cost and invest scope.
On October 15, 2008 at 10:00 a.m. (CEST), ELMOS will conduct a phone
conference (in English) for analysts and investors to discuss this
release (Dial-in number: +49 (0)30 868 71 790). The phone conference
will later be downloadable from the company website. The results and
report for the third quarter 2008 are anticipated to be available on
November 5, 2008 in German and English on www.elmos.de.
Contact: ELMOS Semiconductor AG, Janina Rosenbaum,
Heinrich-Hertz-Str. 1, 44227 Dortmund, Germany, Phone:
+49-231-7549-0, Direct: -287, Fax: 0231-7549-548, eMail:
invest@elmos.de, www.elmos.de
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ELMOS Semiconductor AG
Heinrich-Hertz-Strasse 1 Dortmund
Deutschland
WKN: 567710; ISIN: DE0005677108; Index: Prime All Share, CDAX, HDAX,
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Bayerische Börse München;
