Micronas: continuing recovery with record quarterly sales (Includes Quarterly report 01/02 in PDF) (0211)

Key data for first quarter of 2002

In the first three months of 2002, the Micronas Group generated consolidated net sales of CHF 161.0 million, a rise of CHF 16.8 million or 11.7 percent compared with the previous quarter. The operating profit before depreciation and amortization of goodwill (EBITDA) was CHF 46.8 million, CHF 10.0 million or 27.2 percent higher than in the fourth quarter of 2001. The operating profit (EBIT) reached CHF 20.1 million, an increase of 73.3 percent over the previous quarter. Compared with the same quarter of 2001, after adjustment to take account of the capital gain of CHF 27.2 million from the sale of the Group's stake in innoComm, this represented an increase of 57.0 percent. Net profit reached CHF 8.1 million in the reporting period, an increase of CHF 2.8 million or 52.8 percent compared with the fourth quarter of 2001. Earnings per share amounted to CHF 0.35, or CHF 0.51 adjusted for amortization of goodwill after taxes.

The Consumer Division generated CHF 144.8 million of the total net sales; CHF 16.2 million was contributed by the Automotive Division. Europe was again the most significant market region with sales of CHF 109.3 million. Asia accounted for CHF 46.9 million of consolidated net sales, while the US market generated CHF 3.1 million. Sales in other regions amounted to CHF 1.7 million.

The successful capital increase realized in the first quarter of 2002 contributed to a sustained improvement in the balance sheet and financing structure. The aggregated net proceeds from the transaction amounted to CHF 155.0 million, all of which was used by Micronas to repay bank loans. The share capital of Micronas Semiconductor Holding AG now stands at CHF 26.95 million. At the end of March 2002 the shareholder's equity of the Micronas Group was CHF 404.8 million, compared with CHF 242.7 million as at 31 December 2001.

We expect the second quarter of 2002 to bring a further increase in sales and earnings.

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, 11 April 2002 Micronas Semiconductor Holding AG