News Article
German ASIC firm plans to grow by 15% annually
Dr Klaus Weyer, chairman of German ASIC developer and manufacturer Elmos Semiconductors, has said that he expects the company to grow at a double-digit rate annually over coming years.
Dr Klaus Weyer, chairman of German ASIC developer and manufacturer Elmos Semiconductors, has said that he expects the company to grow at a double-digit rate annually over coming years. "We are aiming for an annual growth of more than 15% for the next years."
He said that the strong growth would be achieved by winning more larger projects.
His comments follow the announcement of the Dortmund-based company’s full year results for 2004. During the year, the company increased sales by 18.1% to euro 143.3 million (euro 121.4 million). Income meanwhile leapt by 62.8% to euro 16.3 million (euro 10.0 million).
Earnings before interest and taxes (EBIT) grew by 36.2% to euro 28.7 million (euro 21.1 million). Operational cash flow rose to euro 34.9 million– more than five times the 2003 figure of euro 6.5 million.
"The profit and the positive development of the operational cash flow verify the successful realisation of our strategy," said Weyer.
Capital expenditure rose to euro 33.5 million in 2004, compared with euro: 25.3 million in 2003. "We took advantage of the favourable market conditions and invested in the expansion of our capacity," said board member Reinhard Senf.
For the current fiscal year, Elmos is forecasting sales of euro 165 million and margins of 50% with an error margin of +/-5%. "The significant growth of the projected sales volume shows that we have been winning larger projects at an increasing rate," said Weyer.
He said that the strong growth would be achieved by winning more larger projects.
His comments follow the announcement of the Dortmund-based company’s full year results for 2004. During the year, the company increased sales by 18.1% to euro 143.3 million (euro 121.4 million). Income meanwhile leapt by 62.8% to euro 16.3 million (euro 10.0 million).
Earnings before interest and taxes (EBIT) grew by 36.2% to euro 28.7 million (euro 21.1 million). Operational cash flow rose to euro 34.9 million– more than five times the 2003 figure of euro 6.5 million.
"The profit and the positive development of the operational cash flow verify the successful realisation of our strategy," said Weyer.
Capital expenditure rose to euro 33.5 million in 2004, compared with euro: 25.3 million in 2003. "We took advantage of the favourable market conditions and invested in the expansion of our capacity," said board member Reinhard Senf.
For the current fiscal year, Elmos is forecasting sales of euro 165 million and margins of 50% with an error margin of +/-5%. "The significant growth of the projected sales volume shows that we have been winning larger projects at an increasing rate," said Weyer.
