2011-05-16
Preliminary quarterly figures for 2011:
- Increase in sales by 47% to EUR 13.1 million
- Increase in EBIT by 78% to EUR 0.9 million
- Tripling of profit to EUR 0.6 million
- Order level of EUR 29.6 million, 70% higher than in the previous year
According to preliminary figures, Silicon Sensor International AG was once again able to record high sales growth in the first quarter of the current year, as well as a threefold increase in profit. Compared to the first quarter of the previous year, sales rose by 47% to EUR 13.1 million. The operating result before taxes (EBIT) showed an improvement of 78% to EUR 0.9 million. The result for the period rose from EUR 0.2 million to EUR 0.6 million.
This indicates an excellent start into the new business year for Silicon Sensor. The growth of the order level also suggests that this momentum looks set to continue into the coming quarters. The orders increased by 70% to EUR 29.6 million. Moreover, a series of further important production launches are due to take place in the forthcoming quarters. These include a bulk order for the manufacture of high-precision camera systems for driver assistance systems, which will run for several years and reach its full potential in 2012, as well as the production of sensor systems for controlling the brake boosters in almost all of the model series offered by a leading motor vehicle manufacturer. Both of these are set to start in the second half of the year. Marketing of the mobile particulate matter measuring device and the third generation of our cancer cell detector will also begin during this period.
In the past few years, the company has invested in scalability and the growth of the business. This has involved, among other things, constructing a new sensor plant, streamlining processes, expanding our sales and R&D activities, improving our production efficiency through the integration of new plants, and acquiring new product areas and technologies. Our intention is to continue to pursue these investments over the current and forthcoming business years. Liquid funds amounting to EUR 13.9 million and an equity of EUR 38.5 million (equity ratio of 56%) will serve to ensure continued growth in the future.
The positive results from the first quarter, the outlook for the coming quarters, the planned additional production launches and the initial effects of our investments underpin our forecast for the remainder of the current business year and the years to come: the company continues to expect sales in the 2011 business year to exceed the EUR 50 million mark and reach levels of between EUR 51 and 55 million, while the operating margin (EBIT) should amount to at least 10%. In the subsequent years, too, the strong growth in sales of 20% is expected to be maintained. In the long term, the realization of economies of scale from the investments we have made should give rise to a 15% increase in the operating margin (EBIT margin).
All figures reflect the current and provisional status of the closing and may be subject to changes until the publication of the final numbers.
Final results and the full quarterly report will be published on May 26th at www.silicon-sensor.com.
Further information about the Silicon Sensor Group can be found on our website www.silicon- sensor.com or at +49 30 639923-710.
Silicon Sensor International AG
Board of Directors
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