EANS-Adhoc

ams AG / ams reports second quarter results with revenues in upper half of guidance range reflecting demanding market environment; third quarter expected revenues show sequential growth at improved operating margin; acquisition of CCMOSS comp

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Financial Figures/Balance Sheet/6-month report
25.07.2016

Key financial data for the second quarter and first half 2016

Premstaetten, Austria (25 July 2016) - ams (SIX: AMS), a leading
worldwide manufacturer of high performance sensor and analog
solutions, reports second quarter 2016 revenues in the upper half of
its guidance range which reflects the demanding market environment.
For the third quarter 2016, ams expects sequential revenue growth to
EUR 146-153 million at an improved operating margin compared to the
second quarter. ams completed the acquisition of CCMOSS in the second
quarter creating the global technology leader in gas and infrared
sensing and additionally concluded a smaller acquisition in color and
spectral sensing focused on industrial and medical markets.

Second quarter group revenues were EUR 132.4 million, down 4%
sequentially compared to the first quarter and decreasing 22% from
EUR 169.5 million in the same quarter 2015. Group revenues for the
first half of 2016 were EUR 269.6 million, down 17% compared to EUR
322.9 million recorded in the first half of 2015. On a constant
currency basis, second quarter revenues were 20% lower compared to
the second quarter last year with first half revenues 16% lower
compared to the first half of 2015.

In the second quarter, adjusted gross margin (excluding
acquisition-related and share-based compensation costs) remained high
at 56% with IFRS reported gross margin (including acquisition-related
and share-based compensation costs) at 53%, compared to 56% and 54%
respectively, in the same quarter 2015. In the first half of 2016,
adjusted gross margin (excluding acquisition-related and share-based
compensation costs) stood at 57% and IFRS reported gross margin
(including acquisition-related and share-based compensation costs) at
54%, compared to 56% and 54% respectively, in the first half of 2015.

The adjusted result from operations (EBIT) (excluding
acquisition-related and share-based compensation costs) for the
second quarter was EUR 24.4 million or 18% of revenues in line with
previous expectations, decreasing from EUR 49.0 million in the same
period 2015. The IFRS reported result from operations (EBIT)
(including acquisition-related and share-based compensation costs)