ANNUAL REPORT 2004 - ELMOS Semiconductor AG

GROUP STATUS REPORT FINANCIAL STATEMENTS GROUP STRUCTURE GLOSSARY
Business and economic framework
Future of automotive electronics
ÿ Profit, financial and assets situation
Supplementary report
Risk report
Outlook report
Sales according to regions
other EU countries 25.6%
U.S.A. 13.6%
other countries 7.2%
Germany 53.6%
Sales according to customers
remaining 40.3%
top 6 to 10 12.2%
top 5 47.5%
Sales according to regions*
The regional distribution of net sales in the Group shows a German share of 53.6 per-
cent in 2004, roughly just as high as the year before (2003: 55.4 percent). Germany
still is the highest-volume region for the ELMOS Group. The share of the other EU
countries of the Group sales increased slightly to 25.6 percent (2003: 24.2 percent).
The share of sales contributions from the U.S. remained nearly constant at 13.6 per-
cent (2003: 14.8 percent) despite the weak US-Dollar.
Sales according to customers
ELMOS supplies a large number of customers, altogether more than a hundred. Usu-
ally these are suppliers to the automobile industry. In 2004 the Swedish company Au-
toliv replaced the French company Valeo as top customer. Autoliv contributes about
15.0 percent of sales. At roughly 14.4 percent, Valeo is the new number two. The five
top customers altogether generate 47.5 percent of the ELMOS sales, the top ten make
up for 59.7 percent. In comparison with the previous year, the customer structure did
not change essentially. The concentration is qualified by the fact that the customers
each obtain a multitude of products from ELMOS. The company supplies Autoliv with
more than 20 products for applications used in airbag systems for the most part,
and it delivers over 30 products to Valeo for applications in bodywork electronics and
generator regulators, for example. These products are used in different car models
with different production periods that overlap with regard to sales generation.
Orders received
After strong incoming orders during the first half-year, a significant drop was recorded
starting in August 2004. The order behavior of the ELMOS customers is characterized
by the general situation of the semiconductor market despite a low correlation. The
market cycle showing signs of overheating in the first half-year and corresponding
precautionary orders resulted in a more reserved order behavior in the second half-
year. On the annual basis, the ratio of orders received to sales in the semiconductor
segment dropped to an amount of 0.97 as compared to 1.13 in the previous year.
* Sales according to regions are established by the customer’s invoice address. Changes within company structures may lead to the recording of different
regional sales while not necessarily providing information about a structurally changed customer basis.
elmos annual report 2004
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