Elmos Semiconductor SE
Elmos Semiconductor AG successfully closes the sale of Silicon Microstructures Inc.
DGAP-News: Elmos Semiconductor AG
/ Key word(s): Disposal
Transaction reflected in adjusted guidance for 2019 Elmos Semiconductor AG (FSE: ELG) has closed the sale of Silicon Microstructures Inc. (SMI) to Measurement Specialties Inc., a subsidiary of TE Connectivity Ltd., today. The micromechanics segment consists exclusively of SMI. The subsidiary will be deconsolidated as of October 1, 2019. SMI is therefore only included in the sales and earnings of Elmos Semiconductor AG for the first nine months in 2019. Taking the above circumstance into account, the guidance communicated for 2019 has been adjusted: Elmos’ sales growth will amount to 4-8% (previously: 6-10%). Organic growth will remain unchanged. The adjustment reflects, as explained above, the elimination of SMI sales in Q4 2019. The operating EBIT margin will be between 13 and 17% (unchanged). In addition, the transaction will result in extraordinary income, which will be determined on the basis of the final purchase price. Investments for 2019 will account for less than 15% of revenues (unchanged). The adjusted free cash flow will be significantly positive due to the cash inflow from the transaction in 2019. The forecast is based on an exchange rate of 1.15 US dollars/Euro (unchanged). About Elmos Semiconductor AG Notice Contact
30.09.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Elmos Semiconductor AG |
Heinrich-Hertz-Str. 1 | |
44227 Dortmund | |
Germany | |
Phone: | +49 (0)231 7549-510 |
Fax: | +49 (0)231 7549-111 |
E-mail: | invest@elmos.com |
Internet: | http://www.elmos.com |
ISIN: | DE0005677108 |
WKN: | 567710 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 882865 |
End of News | DGAP News Service |