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Final results 2010 and good start into 2011 give cause to optimistic forecast

2011-03-30

Silicon Sensor International AG today published its annual report 2010. Compared to preliminary numbers released on February 24th, 2011 results further improved. Sales increased by 50% to €45.2 million. Apart from increasing orders from our existing customers several new projects were realized. EBIT amounted to 3.6 million Euros after a loss of €1.1 million in the previous year. A net income of €2.2 million was achieved after a negative contribution of €1.6 million in 2009. Thus, Silicon Sensor not only impressively turned around the loss year 2009 which was marked by the overall economic crisis but also reentered the profitable growth path. Earnings per share increased by €0.69 to €0.34 (previous year: €-0.35). Operating cash flow improved considerably to €6.2 million (previous year: €1.1 million). The volume of orders on hand rose by 43% to €21.8 million compared with the previous year's reporting date.

The measures taken in the previous two business years concerning the cutting of overhead cost, implementation of lean organization and extension of sales organization and R&D activi- ties as well as investments in the increase of production efficiency and acquisition of growth areas like MEMS sensors will lead to realization of scale economies in the next years. Further investments averaging 140% of depreciation in the next three years are planned to be underta- ken especially to integrate production processes in the Berlin location. This shall result in syner- gies in the fields of production, R&D, procurement and administration. Furthermore, it is in- tended to strengthen the value chain and to diversify into complementary product areas by means of acquisition of companies and technologies and by entering into cooperation agree- ments. Liquid assets amounting to €14.6 million and equity amounting to €38.0 million (equity ratio 56%) ensure stability and the financing of further growth.

As a result of the measures taken and the good start into the business year 2011 we expect to exceed the €50 million threshold and achieve sales of €51 to 55 million. The operational return on sales (EBIT) is to be at least 10%. The strong sales growth of 20% is also to be maintained in subsequent years. In the long term, the operational return on sales (EBIT margin) is to be increased to 15%.

The complete business report can be downloaded at www.silicon-sensor.de/ir.php. For more information on the company, please visit www.silicon-sensor.com or call us on: +49 30 639923-710.

Silicon Sensor International AG
Board of Directors

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Company
First Sensor is one of the world's leading suppliers in the field of sensor systems. In the growth market of sensor systems, First Sensor develops and produces customer-specific solutions for the ever-increasing number of applications in the industrial, medical, and mobility target markets. Our goal here is to identify, meet and solve the challenges of the future with our innovative sensor solutions early on.
Investor Relations
Our investor relations activities aim at raising the international publicity of First Sensor AG and at consolidating and extending the perception of our share as an attractive growth stock. This means we keep our online communication transparent, comprehensive and continuous in order to enhance your trust in our share.
Tailored Solutions
In the growth market of sensor systems, First Sensor develops and produces customer-specific sensors, electronics, modules and complex systems for the ever-increasing number of applications in the industrial, medical, and mobility target markets. As a solution provider the company offers complete development services from a first draft and proof of concept up to the development of prototypes and finally serial production. First Sensor offers comprehensive development expertise, state-of-the-art packaging technologies and production capacities in clean rooms from ISO class 8 to 5.
Competencies
In the growth market of sensor systems, First Sensor develops and produces customer-specific sensors, electronics, modules and complex systems for the ever-increasing number of applications in the industrial, medical, and mobility target markets. As a solution provider the company offers complete development services from a first draft and proof of concept up to the development of prototypes and finally serial production. First Sensor offers comprehensive development expertise, state-of-the-art packaging technologies and production capacities in clean rooms from ISO class 8 to 5.
Career
Innovation, excellence, proximity – these are our values, our ambition, our drive. Anything less is not an option. Our sensor solutions stand for technical innovation and economic growth. As such, they form the basis for the development and application of new technologies in almost all areas of life. We aim to shape this future together with you.

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