Elmos Semiconductor SE announces midterm financial targets 2030
EQS-Ad-hoc: Elmos Semiconductor SE / Key word(s): Miscellaneous Elmos Semiconductor SE announces midterm financial targets 2030 Publication of inside information pursuant to Article 17 of Regulation (EU) No. 596/2014 Elmos Semiconductor SE (FSE: ELG), a leading supplier of automotive mixed-signal semiconductors, today announced its midterm financial targets. In addition, the third quarter of 2024 ended positively and the company confirms its sales and EBIT outlook for the full year 2024. Midterm targets 2030 Based on the strong product portfolio, the transformation of the Elmos Group into a fabless company, the increased internationalization and the successful acquisition of new business in recent years, Elmos can sustainably participate in the structural growth of the automotive semiconductor market due to the increased use of intelligent electronics in modern vehicles. The company therefore plans to continue to grow and is targeting full year group sales of around 1 billion Euro until 2030. The midterm EBIT margin target has been set at around 25% of sales. In addition to continuing its profitable growth, the focus in the coming years will increasingly be on higher cash generation. Until 2030, Elmos plans to invest on average less than 10% of sales in property, plant and equipment and intangible assets, less capitalized development costs. By reducing the CAPEX ratio, optimizing working capital and reducing the tax rate, it is planned to gradually improve adjusted free cash flow. Midterm targets 2030 Sales: approx. 1 billion Euro for the full year The new midterm targets and the growth strategy will be presented to investors and analysts at a virtual capital markets day (CMD) on November 11, 2024. The presentation for the Elmos CMD will be published at https://www.elmos.com/english/about-elmos/investor/capital-markets-day-2024 on November 11, 2024. Third quarter of 2024 In the third quarter of 2024, the company generated group sales of 156.6 million Euro (Q3 2023: 151.5 million Euro), an increase of 3.4% year-on-year and plus 10.3% compared to the second quarter of 2024. EBIT amounted to 39.9 million Euro (Q3 2023: 41.6 million Euro). This corresponds to an EBIT margin of 25.5% of sales (Q3 2023: 27.5%). Capital expenditures for property, plant and equipment and intangible assets, less capitalized development costs were reduced as planned to 5.9 million Euro or 3.8% of sales in the third quarter of 2024 (Q3 2023: 34.0 million Euro). The adjusted free cash flow amounted to 45.5 million Euro (Q3 2023: 33.9 million Euro). For fiscal year 2024, Elmos expects sales in the lower range of the unchanged sales guidance of 605 million Euro ± 25 million Euro. The operating EBIT margin (excluding special items) is still expected at 25% ± 2 percentage points of sales. In addition, the company expects a reduction in capital expenditures for property, plant and equipment, and intangible assets less capitalized development expenses to around 12% ± 2 percentage points of sales. For the full year 2024, Elmos now expects a positive adjusted free cash flow, including effects from the closing of the sale of the Elmos wafer fab to Littelfuse Inc., USA. The guidance is based on an exchange rate of 1.10 EUR/USD.
Definitions of selected financial indicators Contact About Elmos Notice End of Inside Information
05-Nov-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Elmos Semiconductor SE |
Heinrich-Hertz-Str. 1 | |
44227 Dortmund | |
Germany | |
Phone: | +49 (0)231 7549-575 |
Fax: | +49 (0)231 7549-111 |
E-mail: | invest@elmos.com |
Internet: | http://www.elmos.com |
ISIN: | DE0005677108 |
WKN: | 567710 |
Indices: | SDAX, TecDax |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2022851 |
End of Announcement | EQS News Service |
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2022851 05-Nov-2024 CET/CEST