EQS-News

Elmos Semiconductor SE: Successful start into the new year – profitable growth continues

EQS-News: Elmos Semiconductor SE / Key word(s): Quarter Results Elmos Semiconductor SE: Successful start into the new year – profitable growth continues 04.05.2023 / 07:42 CET/CEST The issuer is solely responsible for the content of this announcement. At 130.9 million Euro, sales up 36% year on year in the first quarter 2023 – EBIT margin reaches 24.3%

Dortmund, May 4, 2023: Elmos Semiconductor SE (FSE: ELG) has recorded a successful start to the new fiscal year. With sales of 130.9 million Euro, the Company continued its growth trajectory in the first quarter of 2023. Thanks to high demand for Elmos semiconductors, Group sales increased by 35.9% year on year, or 34.6 million Euro, in the first three months (Q1 2022: 96.4 million Euro). Sales also rose by 4.3% compared to the strong previous quarter (Q4 2022: 125.5 million Euro).

Thanks to the sales growth, EBIT improved by 63.1% to 31.8 million Euro in the first quarter (Q1 2022: 19.5 million Euro) in spite of inflation-related cost increases. The EBIT margin also rose significantly by 4.1 percentage points compared with the prior-year quarter to 24.3% (Q1 2022: 20.2%).

At 15.2 million Euro, capital expenditures remained on a high level and were primarily used for the expansion of testing capacities in Asia for future growth (Q1 2022: 11.1 million Euro). Adjusted free cash flow was negative at -18.7 million Euro (Q1 2022: 30.4 million Euro) due to the higher working capital and growth investments.

“We got off to a successful start in the new year, which has allowed us to lay a solid foundation for further positive business performance in 2023,” says Dr. Arne Schneider, CEO of Elmos Semiconductor SE. “As a result of new project launches, business development will be even more dynamic in the second half of the year, enabling us to further strengthen the market position in our application fields. As one of the leading suppliers of innovative mixed-signal semiconductors, and as a reliable partner to our customers, we will benefit in the long term from the structural growth in the semiconductor market resulting from the increasing digitization and electrification of all vehicle systems and functions.”