Micronas Semiconductor Holding AG
Micronas Semiconductor english
Sales and earnings up in first half despite faltering market
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Key data for second quarter and first half of 2003
Sales and earnings up in first half despite faltering market
Despite an extremely difficult market environment, the Micronas Group succeeded
in further increasing sales in the first half of 2003 compared with the same
period of last year. The growth generated in the first three months more than
made up for the sales decline in the second quarter. The trend in earnings
followed a similar pattern. On balance, the first half year showed a
substantial rise in net profit compared with the same period a year ago. For
2003 as a whole, we expect sales growth in the low single-digit percentage
range.
In the second quarter of 2003, consolidated net sales amounted to CHF 158.6
million. This represents a decrease of 17.0 percent compared with the first
three months of the current year. The cumulated half-year sales were CHF 349.7
million, which represents growth of 4.9 percent – 2.9 percent after adjustment
for currency translation – compared with the same period of 2002.
end of ad-hoc-announcement (c)DGAP 16.07.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
During the whole reporting period, the Consumer division faced faltering sales
markets for television sets. There was pleasing growth in the still relatively
small market for flat-screen (LCD/PDP) TVs. In the second quarter, we acquired
Microtune’s design centre for integrated circuits in digital TV sets in
Nijmegen (The Netherlands). This was a further step in the development of this
promising market segment.
Although the international automotive markets were adversely affected by the
persistent weakness of global economic activity, the Automotive division
reported stable demand for Micronas products.
The operating profit before depreciation and amortization of goodwill (EBITDA)
fell compared with the very good first quarter result by 19.6 percent to CHF
50.9 million. However, the semi-annual value was CHF 114.2 million, up 16.3
percent compared with the previous year’s figure.
The operating profit (EBIT) was CHF 21.3 million, 40.2 percent lower than in
the previous quarter. By contrast, the operating profit for the semester
overall showed a gain of 27.5 percent, rising from CHF 44.7 million to CHF 57.0
million. This figure includes an accounting profit on foreign exchange
positions of CHF 7.9 million.
The net profit for the second quarter of 2003 decreased compared with the first
three months of the year by 27.2 percent to CHF 17.1 million. For the first six
months of 2003, the net profit grew in comparison with the corresponding figure
a year ago by 75.0 percent to CHF 40.6 million. Earnings per share in the
reporting period were CHF 1.50 or CHF 1.81 adjusted for amortization of
goodwill after tax.
The Micronas Group is a leading independent supplier of innovative application-
specific semiconductor solutions for multimedia, consumer and automotive
electronics. Its shares are listed on the SWX Swiss Exchange and on the Prime
Standard segment (TecDax) in Frankfurt.
Zurich, 16 July 2003, Micronas Semiconductor Holding AG
For further information, please contact:
Susy Krucker, Investor Relations
Phone +41 1 445 39 60, E-mail: investor@micronas.com
Detailed financial data can be accessed at http://www.micronas.com
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WKN: 910 354 ; ISIN: CH0012337421; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart; Zürich
160729 Jul 03
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