austriamicrosystems AG
Ad hoc-Service: Austria Mikro Systeme engl.
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Ad hoc-Service: Austria Mikro Systeme engl.
Ad hoc-announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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1st to 3rd Quarter 1998: Weak semiconductor market
continues, group result is reduced by expenses for
research and development, successful completion of
strategy project is imminent
The framework conditions for the international semi-
conductor industry remained unfavourable in the
previous quarter. The downturn in sales volume
continued, and forecasts for the development of the
market have been further reduced. World Semiconductor
Trade Statistics is expecting a shrinkage of the
overall market by at least 5%, the forecasts for the
relevant market for Austria Mikro Systeme have also
been reduced to zero-growth.
The development of Austria Mikro Systeme Group went
more or less hand in hand with the overall trend. In
the reporting period the sales revenues of the group
dropped slightly by 0.9% to 1,208.5 MATS. The
development of the Industrial and Automotive market
segments, however, was above average with sales
revenues being 13.1% and 9.9% higher than last year.
The number of incoming orders received by the Group
dropped by 7.8% to 1,204.7 MATS in the reporting period
(last year: 1,307.3 MATS). Incoming orders in the third
quarter, 370.8 MATS, were below the number of the
second quarter (404.4 MATS).
The groups result in the first three quarters of 1998
was influenced by the unfavourable development of the
worldwide semiconductor market and by additional costs
for licences and the development of standard products
and new processes. ‘These expenditures constitute the
basis for a future progress in terms of sales and
earnings’, says Mag. Johannes Stritzelberger, member of
the Board. In addition, the costs for the strategic
project and subcontracting meant a further burden on
the result situation.
The result of ordinary activities was at -104.1 MATS in
the reporting period and thus considerably below last
year’s level (-18.3 MATS). The group result was
-45.9 MATS (13.5 MATS last year).
A positive development was the number of project
starts. Compared to last year, the number of new
projects increased by 13% and at the same time project
sales rose by 10% compared to last year.
The group’s equity amounts to 1,820.1 MATS as per
30.9.1998. This corresponds to an equity ratio of
60.9%, which means that Austria Mikro Systeme Group has
a sound basis of capital resources. The group has no
net debts as per the reporting date, the gearing being
-0.4%.
Successful completion of our most important strategic
project, which will be decisive for the future growth
of the Group, is imminent, and its implementation will
start soon. The primary aim is the focus of the group
on customer and market demands as well as the
utilisation of all synergies through far-reaching
operative group integration. The organisational and
personnel requirements for the creation of the four new
customer-oriented business units (SBUs) have been
established. Headed by a highly experienced management
team, which was recently joined by the former manager
of the Siemens Entwicklungszentrum für Mikroelektronik,
Dipl-Ing. Wolfgang Pribyl, the business plans for the
SBUs have been elaborated in the course of the last few
weeks and fine-tuned at the group level. Mag. Hans Jörg
Kaltenbrunner, CEO: ‘The ability to offer sound
manufacturing methods in the mixed signal field, which
allowed major growth in the past, is no longer decisive
in international competition. It has become a
prerequisite. To create products out of ideas in
cooperation with our customers and the use of synergies
within the group will be the basis for future growth’.
The unsatisfying development of incoming orders is
going to continue in the next few months. From today’s
point of view, we are expecting to see an overall
reduction of sales revenues in 1998 by 5% as compared
to last year.
In order to improve this difficult situation we have
initiated and implemented a comprehensive cost saving
and optimisation programme. Despite the positive
effects on the result from today’s point of view, we
are still expecting a substantial consolidated loss for
1998.
Key figures for the first three quarters of 1998:
Group (MATS)
1-9/98 1-9/97
Net sales 1,208.5 1,219.1 -0.9%
Order entry 1,204.7 1,307.3 -7.8%
Order backlog 448.0 509.9 -12.1%
Operating result -107.3 -17.4 -516.7%
Res. from ord. act. -104.1 -18.3 -468.9%
Annual result -106.3 -42.2 -151.9%
Group result -45.9 13.5 -440.0%
Cash flow 72.6 157.3 -53.8%
Capex 207.0 172.3 +20.1%
Equity 1,820.1 1,966.9 -7.5%
Equity % 60.9% 61.1%
Gearing % -0.4% -6.7%
Employees 1,118 1,108 +0.9%
AG (MATS)
1-9/98 1-9/97
Net sales 919.6 910.0 +1.1%
Order entry 892.9 1,001.6 -10.9%
Order backlog 334.4 395.2 -15.4%
Operating result 8.8 91.1 -90.3%
Res. from ord. act. 19.8 96.1 -79.4%
Annual result 17.6 72.1 -75.6%
Cash flow 93.9 146.2 -35.8%
Capex 141.3 131.2 +7.7%
Equity 1,658.4 1,638.9 +1.2%
Equity % 65.3% 63.7%
Gearing % -5.5% -8.5%
Employees 694 698 -0.6%
End of Message
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