ELMOS Semiconductor AG Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year of 2013; Provides Earnings Guidance for 2014; Proposes Dividend
Sales for the full year 2013 were up 5.0% to EUR 189.1 million compared to EUR 180.1 million reported a year ago. Particularly good news was the strong sales increase achieved in Asia/Pacific (+20.0%). The EBIT for the full year was EUR 12.7 million compared to EUR 11.5 million reported a year ago. The performance of the net income was positive as well, amounting to EUR 9.4 million compared to EUR 8.1 million reported a year ago. Basic earnings per share rose accordingly to EUR 0.49 as compared to EUR 0.42 in the previous year. Profitability was negatively affected in 2013 by the conversion of its production. These adverse effects will continue to influence the year 2014, yet not to the same extent as in 2013. Operating income was EUR 10.3 million compared to EUR 7.6 million reported a year ago.
Because of the sustained positive development in earnings and cash flows, the company's Board and Supervisory Board will propose to the Annual General Meeting on May 13, 2014 to pay a dividend of EUR 0.25 per share again.
For 2014, the company expects both sales increase and EBIT margin to reach upper single-digit percentage values. Capital expenditures for intangible assets and property, plant and equipment are scheduled not to exceed 15% of sales in 2014. The company also assumes that it will generate a positive adjusted free cash flow once again.