EQS-News

Elmos: Record financial results and important structural progress in fiscal year 2023

EQS-News: Elmos Semiconductor SE / Key word(s): Preliminary Results Elmos: Record financial results and important structural progress in fiscal year 2023 15.02.2024 / 07:39 CET/CEST The issuer is solely responsible for the content of this announcement. Sales up by 28.6% to 575.0 million Euro in 2023 – EBIT margin reaches a strong 26.2%

Dortmund, February 15, 2024: Elmos Semiconductor SE (FSE: ELG) continued its very successful development of the past few years in fiscal year 2023, posting new records for sales and EBIT and making important structural progress as well.

Despite the challenging economic environment and a noticeable easing in the global supply chains, demand for Elmos’ semiconductors remained solid. According to preliminary, unaudited figures, Group sales climbed to 575.0 million Euro (2022: 447.2 million Euro) – the third record high in succession. This equates to an increase of 28.6%, or 127.8 million Euro, year on year.

The development of earnings before interest and taxes (EBIT) was even more encouraging. In fiscal year 2023, the Elmos Group generated EBIT of 150.7 million Euro, surpassing the prior-year figure (2022: 110.1 million Euro) substantially – also a new record. The EBIT margin rose to 26.2% of sales (2022: 24.6%), placing it in the upper half of the full-year guidance of 25% ± 2 percentage points.

Alongside the positive financial performance, the Elmos Group also achieved key milestones in its structural development in the past fiscal year. New business acquisition was once again extremely successful in 2023, with promising design wins recorded across all application fields. In addition, Elmos strengthened its software expertise and is focusing on an even closer integration of innovative hardware and high-performing software supporting software-defined vehicles. Another key activity over the past year was the significant expansion of testing capacities, which allowed the Elmos Group to launch new products in the second half of the year and to ensure delivery capability to its customers. As a result, increased sales were generated in the third and fourth quarters of 2023 and a solid basis for further growth was created. With the signing of the contracts for the sale of the Dortmund wafer fab and the regulatory approvals, Elmos took an important step forward in its transformation to a fabless company.