EQS-News

Elmos: Positive start into the new fiscal year – guidance for 2024 confirmed

EQS-News: Elmos Semiconductor SE / Key word(s): Quarter Results Elmos: Positive start into the new fiscal year – guidance for 2024 confirmed 07.05.2024 / 07:40 CET/CEST The issuer is solely responsible for the content of this announcement. Sales up by 4.5% to 136.8 million Euro in the first quarter of 2024 – EBIT margin reaches 24.7%

Dortmund, May 7, 2024: Elmos Semiconductor SE (FSE: ELG) has made a positive start into the new fiscal year and generated Group sales of 136.8 million Euro in the first quarter of 2024, representing sales growth of 4.5% year on year (Q1 2023: 130.9 million Euro). EBIT increased to 33.8 million Euro in the first three months of 2024 (Q1 2023: 31.8 million Euro), which corresponds to an EBIT margin of 24.7% compared to 24.3% in the same quarter of the previous year.

At 20.3 million Euro, or 14.8% of sales, capital expenditures were higher at the start of the year, as expected (Q1 2023: 15.2 million Euro, or 11.6% of sales). Adjusted free cash flow was primarily influenced by year-end effects on working capital and amounted to -48.9 million Euro in the first quarter (Q1 2023: -18.7 million Euro).

“The successful start into 2024 forms a solid foundation for the further course of business,” says Dr. Arne Schneider, CEO of Elmos Semiconductor SE. “Despite ongoing geopolitical and economic uncertainties and temporary inventory adjustments following the end of the allocation, Elmos’ business performance is robust, as expected. We are in an excellent position to participate sustainably in the structural growth of the automotive semiconductor market.”

For the 2024 financial year, Elmos continues to expect sales of 605 million Euro ± 25 million Euro and an operating EBIT margin of 25% ± 2 percentage points of sales. The anticipated operating EBIT margin does not include any effects from the closing of the sale of the Elmos wafer fab to Littelfuse Inc., USA, which is expected for the end of December 2024. The company expects that capital expenditures for property, plant and equipment and intangible assets, less capitalized development costs, will amount to approximately 12% ± 2 percentage points of sales. For fiscal year 2024, Elmos expects positive operating adjusted free cash flow (excluding effects from the closing of the sale of the Elmos wafer fab to Littelfuse Inc., USA) to be significantly higher than in the prior year (-24.3 million Euro). The guidance is based on an exchange rate of 1.10 EUR/USD.