Micronas group announces continued positive business development (PR19)

First Nine Months Report

The Micronas Group can report a positive sales and earnings growth in the third quarter of the current financial year. Net sales for the third quarter was CHF 119.1 million while net profit was CHF 19.9 million. Consolidated net sales for the first nine months of 2000 increased by 46.4 percent to CHF 335.9 million compared to the same period last year. Operating profit for the first nine months improved by 212 percent to CHF 77.9 million, while net profit increased nearly fourfold from CHF 13.3 million to CHF 52.5 million. Earnings per share for the nine-month period were CHF 24.59 (previous year CHF 7.46 ). The forecast for the whole financial year is positive; the expected sales of CHF 455 million remain unchanged while estimated net profit has been raised from CHF 55 million to CHF 60 million. The estimate does not yet include the recently announced acquisition of Infineons' "Image and Video" activities.

Both our core businesses contributed to the excellent results. As of 30 September 2000 net sales at the consumer division, representing approximately four-fifths of total sales, came to CHF 279.0 million, a 58.6 percent increase compared to the last year figure. During the equivalent period, operating income increased threefold by CHF 23.1 million to CHF 65.8 million. The automotive division posted net sales of CHF 56.9 million for the first nine months, compared with CHF 53.5 million for the same period last year. Operating profit improved from CHF 6.1 million to CHF 11.3 million.

Investment has been concentrated mainly on the construction of a new wafer fab. Overall the Micronas group has invested CHF 64 million over the first nine months of 2000.

At 30 September 2000, the Micronas group reported a shareholders' equity of CHF 211.3 million, compared to CHF 146.2 million in the equivalent period last year.

The Micronas group is an international manufacturer of application-specific chip systems in the areas of multimedia, consumer and automotive electronics. The company is listed on the Swiss Stock Exchange and on Frankfurt's Neuer Markt.