2008 is a transition year for the Silicon Sensor group with the accent not on expansion per se but on making new growth possible. It is then all the more gratifying to report that the group's operations during the first nine months of the 2008 business year went better than expected, despite the continuing financial crisis and a declining world economy. The old factory in Berlin closed down in September as planned, and staff and equipment started moving to a new plant. Due to the great commitment of the workforce, the move was completed in October and equipment is now being restarted. We confidently expect to get all systems ready for production in November. Despite these extra delays, sales in the first nine months of the business year reached €29.48m (Sept. 30, 2007: €27.47m), a rise of 7 %.
Both EBITDA €2.03m compared with €2.00 on Sept. 30, 2007 and the operative result EBIT of €1.29m (Sept. 30, 2007: €1.30m) remained almost unchanged compared with last year and thus were above expectations. Non-operative tax effects of about €1m make it difficult to compare operative net results. These one-off effects reduced the result after interest and taxes by 24 %, from €3.90m (Sept. 30, 2007) to €2.98m.
Due to the larger number of shares following the capital increase in 2007, earnings per share went down by €0.32, from €1.08 (Sept. 30, 2007) to €0.76 (Sept. 30, 2008). Without the tax effects described above, the Silicon Sensor group would have obtained almost the same result for the current business year as it did last year. Staff rose from 294 (Sept. 30, 2007) to 330 (Sept. 30, 2008). Orders on hand for the group amounted to €18.54m (Sept. 30, 2008) and remained almost constant compared with last quarter (Jun. 30, 2008: €18.96m).
The complete annual report will be published November 27, 2008.
For more information please visit our webpage at: http://www.silicon-sensor.com or call +49 30 20945710
Silicon Sensor International AG
Board of Directors
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