2010-03-30
On the occasion of the publishing of its final year end numbers 2009, Silicon Sensor International AG has raised its forecast for the current financial year. Including First Sensor Technology GmbH, which will be consolidated starting April 1st, 2010, the Executive Board expects net sales in the range of € 38m to 40m and a positive seven digit EBIT for 2010. Focussing on high qualitative customer specific sensor solutions, the distribution of own products, the increasing exploitation of synergies within the group and the use of scale economies in the newly built modern sensor factory in Berlin, the Silicon Sensor Group expects an organic sales growth of at least 20 % p. a. in the next years. Return on sales should exceed 10 % considerably by 2012 the latest.
The final 2009 financial year end numbers confirm the preliminary results which were announced on March, 3rd, 2010. With net sales of € 30.2m (2008: € 38.5m), a positive EBITDA of € 2.1m (6.7m) was achieved. The slower than expected general economic recovery which started only in the second half of 2010 prevented a better operating result. It was € -1.1m (€ - 10.9m). Nonetheless, net sales in Q4 amounted to € 9.3m and a positive operating result of € 0.4m was achieved. This positive trend is continuing in Q1 2010.
Despite the fact that net result, which includes the capital cost of the financing of the modern sensor factory in Berlin, was € -1.7m (€ -11.3m), a cash flow from operating activities of € 1.1m (€ -2.6m) could be earned. Liquid assets increased to € 17.1m (€ 4.6m) a/o Dec. 31st, 2009, while bank liabilities were reduced by € 3.0m. Total equity amounted to € 35.4m (€ 22.4m) which means an equity ratio of 58% (42%). Another positive fact is the increase of back orders by 15% in Q4 2009 against Q3 2009 to € 15.2 m.
The full report is published at http://www.silicon-sensor.com.
In general, the Silicon Sensor Group came out fundamentally strengthened from the crisis year 2009, which recorded a decrease in sales of 17% in the European sensor industry. Two capital increases provided enough means to finance future growth. The merger of the operating units in Berlin into the Silicon Sensor International AG led to an increase in process efficiency. Personell costs were cut by € 2.8m; other operating expenses were reduced by € 1.0m. Parallely, a technologically competent sales unit has been built. The acquisition of First Sensor Technology GmbH, which has been announced last week, has enhanced the competence of Silicon Sensor in the fields of MEMS (Micro-Electro-Mechanical-Systems) technology, which is rapidly gainig in importance in the future. Besides, cooperations with renowned Asian partner companies were entered.
The Executive Board of Silicon Sensor offers a conference call for investors, analysts and press media today, Tuesday, March 30th, at 11:30 am, where perspectives 2010 and financial results 2009 will be explained in detail. The required dial in numbers can be requested from Diane Selge, edicto GmbH, +49 69 905505-53 or dselge@edicto.de.
Silicon Sensor International AG
Board of Directors
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