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
Earnings before interest and
taxes climb by 36 percent
Group net income rose by
62.8 percent
Marketing and sales expenses rose to 7.0 million Euro, thereby coming to 4.9 percent
of sales (2003: 5.5 percent). General administrative expenses fell by 1.5 percent to 12.6
million Euro in 2004. They only amount to 8.8 percent of sales as compared to 10.6
percent in the previous year. The reduction is a consequence of the restructuring
measures taken in 2003.
EBIT
The earnings before interest and taxes (EBIT) rose to 28.7 million Euro by 36.2 percent
in comparison with the previous year. That the EBIT showed a lesser increase in rela-
tion to the operating income is due to other net expenses. Allocations to write-downs
of marketable securities, adjusted by counterbalancing tax effects, tax audit effects,
the reversal of write-downs, and public funds in support of research and develop-
ment expenditure lead to summarized expenses of 0.8 million Euro (previous year:
0.4 million Euro).
Income before income taxes, equity in loss of unconsolidated subsidiaries and
minority interest (Pre-tax income)
In the fiscal year 2004 interest charges came to 3.4 million Euro, falling below the
prior year interest charges by 9.7 percent. This was attributable mainly to the im-
provements of interest conditions negotiated with the lending banks and to a lesser
degree to smaller liabilities due to banks. The pre-tax income amounted to 25.3 mil-
lion Euro, surpassing the prior year amount by 46.3 percent.
Group net income and earnings per share
The tax rate could be reduced to 34.4 percent in the fiscal year 2004. The Group net
income 2004 increased disproportionately high by 62.8 percent to 16.3 million Euro.
Earnings per share come to 0.85 Euro after 0.52 Euro in 2003.
Proposal for the appropriation of retained earnings
ELMOS Semiconductor AG* achieved retained earnings of 14.4 million Euro. The re-
tained earnings carried forward from 2003 came to 26.1 million Euro. The Manage-
ment Board and the Supervisory Board propose to the General Meeting on April 26,
2005 that a dividend of 0.21 Euro per share be paid. This payment would tally with a
dividend total of roughly 4.1 million Euro.
* The financial statements of ELMOS Semiconductor AG have received an unrestricted auditor’s certificate. It is published in
the Federal Gazette (“Bundesanzeiger”), deposited with the Register of Corporations, and may also be ordered as a special
publication in print.
elmos annual report 2004
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