TDK Micronas Visual

Further sales and profit growth for Micronas (0215)

- Ad hoc news | 0215

Report on the first half of 2002

The business of the Micronas Group developed well in the second quarter of 2002. Consolidated net sales improved again, reaching CHF 172.5 million, 7.1 percent up on the first three months of the current year. For the first semester of 2002, consolidated net sales totalled CHF 333.5 million, 17.6 percent higher than in the comparable period a year ago. The net profit of CHF 15.1 million in the second quarter was 86.4 percent up on the first quarter 2002. Utilization of production capacity reached around 90 percent at the end of the second quarter.

In the second quarter of 2002, the operating profit before depreciation and amortization of goodwill (EBITDA) improved to CHF 51.4 million, which is 29.8 percent of net sales and an increase of 9.8 percent compared with the first quarter. The semi-annual value was CHF 98.2 million. The operating profit (EBIT) reached CHF 24.5 million, 21.9 percent more than in the previous quarter, or 14.2 percent of net sales. The EBIT for the first semester of 2002 amounts to CHF 44.7 million, representing 13.4 percent of net sales.

The net profit for the second quarter was CHF 15.1 million and CHF 23.2 million for the first half-year 2002. First half-years earnings per share amounted to CHF 0.93, or CHF 1.23 adjusted for amortization of goodwill after taxes.

The business outlook for the second semester still holds some uncertainties. However, the reached growth of Micronas' business in the first half year in a difficult market as well as the good orders on hand give some grounds for optimism. For the current financial year we expect sales growth between 19 and 25 percent with about the same net profit in percent of net sales as reported for the first half-year.

The Micronas Group is a leading independent supplier of innovative application-specific semiconductor solutions for consumer and automotive electronics. Its shares are listed on the SWX Swiss Exchange and the Neuer Markt in Frankfurt.

Zurich, 17 July 2002 Micronas Semiconductor Holding AG

 

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