DGAP-Adhoc

Elmos Semiconductor SE raises guidance for fiscal year 2022

DGAP-Ad-hoc: Elmos Semiconductor SE / Key word(s): Change in Forecast Elmos Semiconductor SE raises guidance for fiscal year 2022 03-May-2022 / 18:16 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Public disclosure of inside information pursuant to Art. 17 MAR

Elmos Semiconductor SE (FSE: ELG) has raised its guidance for fiscal year 2022 due to the positive business development in the first quarter 2022, the current order situation and the available wafer capacities. For the fiscal year 2022, the company now expects Group sales of more than 400 million Euro (old guidance: more than 370 million Euro) and an operating EBIT margin of 21% ± 2 percentage points of sales (old guidance: 20% ± 2 percentage points). The anticipated operating EBIT margin does not include any effects from a possible closing of the sale of the Elmos wafer fab to Silex Microsystems AB. The expansion of test capacities will be continued, with Elmos forecasting capital expenditures of around 17% ± 2 percentage points of sales (old guidance: 16% ± 2 percentage points). For fiscal year 2022, the company still expects to generate a positive operating adjusted free cash flow above the previous year (11.1 million Euro). The guidance is based on an exchange rate of 1.10 EUR/USD.

In the first quarter 2022, thanks to consistently high demand Group sales increased by 25%, or 19.3 million Euro, to 96.4 million Euro (Q1 2021: 77.1 million Euro). As a result of the strong growth EBIT improved as well in the first quarter to 19.5 million Euro (Q1 2021: 12.2 million Euro) – despite persistently high material prices as well as effects relating to the allocation and the pandemic. The EBIT margin rose by 4.4 percentage points compared with the prior-year quarter to 20.2% (Q1 2021: 15.8%).

Capital expenditures amounted to 11.1 million Euro in the first quarter of 2022 (Q1 2021: 5.7 million Euro) and relate mainly to the planned expansion of test capacities. At 30.4 million Euro, adjusted free cash flow was well above the prior-year quarter despite the growth investments (Q1 2021: 22.4 million Euro).