ELMOS SEMICONDUCTOR SE ADOPTS MEDIUM-TERM FINANCIAL TARGETS FOR 2030 | $ELG (-4,64%)
Third quarter 2024 and outlook 2024
- In the third quarter of 2024, the company generated consolidated sales of 156.6 million euros (Q3 2023: 151.5 million euros), an increase of 3.4% compared to the previous year and plus 10.3% compared to the second quarter of 2024. EBIT amounted to 39.9 million euros (Q3 2023: 41.6 million euros). This corresponds to an EBIT margin of 25.5% of sales (Q3 2023: 27.5%). Investments in property, plant and equipment and intangible assets less capitalized development costs decreased as planned in the third quarter of 2024 to EUR 5.9 million or 3.8% of sales (Q3 2023: EUR 34.0 million). Adjusted free cash flow amounted to 45.5 million euros (Q3 2023: 33.9 million euros).
- For fiscal year 2024, Elmos expects sales in the lower range of the unchanged sales forecast of 605 million euros ± 25 million euros. The operating EBIT margin (excluding special items) is still expected to be 25% ± 2 percentage points of sales. The company also anticipates investments in property, plant and equipment and intangible assets less capitalized development costs of around 12% ± 2 percentage points of revenue. For the full year 2024, Elmos now expects a positive adjusted free cash flow including effects from the completion of the sale of the Elmos wafer production to Littelfuse Inc. The forecast is based on an exchange rate of 1.10 euro/US dollar.
Medium-term targets 2030
- Sales: around 1 billion euros in the financial year
- EBIT margin: around 25% of sales
- Investment ratio: <10% of sales on average until 2030
- Adjusted free cash flow: gradual improvement
