EANS-Adhoc
ams AG / ams reports second quarter revenues above guidance range despite negative EUR/USD trend; revised expected revenue growth CAGR 2016-2019 of more than 40%, EBIT margin target confirmed;
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
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Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
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Key financial data for second quarter and first half 2017
Mid Year Financial Report
24.07.2017
Premstaetten - (PR title cont'd) strong expected quarter-on-quarter growth with
third quarter revenues of EUR 260-290 million at adjusted EBIT margin above 10%;
ongoing optical solutions ramp drives expectation of record second half and
substantial sequential revenue growth in fourth quarter; VCSEL manufacturing
investment pulled forward given significant business opportunities
Premstaetten, Austria (24 July 2017) - ams (SIX: AMS), a leading worldwide
supplier of high-performance performance sensor solutions, reports second
quarter and first half 2017 results with revenues above the previous guidance
range despite a negative EUR/USD trend. ams increases its revenue growth target
for 2016-2019 to more than 40% compound annual growth rate (CAGR) and confirms
its adjusted EBIT margin target of 30% from 2019 onwards. ams expects strong
quarter-on-quarter growth with third quarter revenues of EUR 260-290 million
reflecting the ramp-up nature of the quarter in ams' consumer business and
currency headwinds, together with an adjusted EBIT margin of above 10%. Driven
by ongoing optical solutions ramps, ams expects a record second half 2017
including substantial sequential revenue growth for the fourth quarter at an
expected growth rate comparable to the expected growth rate from second quarter
to third quarter, based on currently available information. ams has also decided
to pull forward an investment into Vertical Cavity Surface-Emitting Laser
(VCSEL) manufacturing capacity in order to pursue significant business
opportunities.
Second quarter group revenues were EUR 181.5 million, up 22% sequentially
compared to the first quarter and up 37% from EUR 132.4 million in the same
quarter 2016 (EUR 184.1 million based on the guidance EUR/USD exchange rate of
1.08). Group revenues for the first half of 2017 were EUR 330.8 million, up 23%
compared to EUR 269.6 million recorded in the first half of 2016. On a constant
currency basis, second quarter revenues were 35% higher compared to the second
quarter last year with first half revenues 21% higher compared to the first half
of 2016.
In the second quarter, adjusted gross margin (excluding acquisition-related and
share-based compensation costs) was 41% with IFRS reported gross margin
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