ANNUAL REPORT 2004 - ELMOS Semiconductor AG

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MANAGEMENT BOARD ELMOS – THE COMPANY THE ELMOS SHARE CORPORATE GOVERNANCE 56 Sales and profit situation according to the segments Segment key figures Semiconductor Segment 2003 2004 Change Sales in million Euro 121.4 143.3 18.1% Semiconductor 107.7 130.7 21.3% Micromechanics 9.3 9.1 – 2.7% Assembly 4.4 3.5 – 18.5% Book-to-bill 1.12 0.97 Semiconductor 1.13 0.97 Micromechanics 1.03 0.94 Assembly 0.99 0.98 Gross profit in million Euro 61.4 73.6 19.8% Semiconductor 58.1 68.9 18.5% Micromechanics 3.1 3.7 16.2% Assembly 0.2 1.0 n.a. Gross margin in million Euro 50.6% 51.3% Semiconductor 53.9% 52.7% Micromechanics 33.8% 40.4% Assembly 3.5% 29.3% Operating income in million Euro 21.6 29.6 36.9% Semiconductor 21.2 27.1 27.9% Micromechanics 0.3 0.8 n.a. Assembly 0.1 1.7 n.a. The semiconductor core business of the ELMOS Group is operated through the va- rious companies in Germany, France, and the U.S. Third-party sales in the semiconductor segment gained 21.3 percent to achieve 130.7 million Euro. The semiconductor segment remains to have the highest importance to ELMOS and amounts to roughly 90 percent of the ELMOS Group’s sales as the year before. This is due primarily to the increasing number of products. The gross margin of the semiconductor segment achieved 52.7 percent, once more the highest margin of the three segments.
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 Segmental reporting for assembly to be discontinued in 2005 Micromechanics The segment micromechanics comprises the activities of the subsidiary company SMI. Sales of SMI are achieved in US-Dollar exclusively. After sales of 10.9 million US- Dollar in 2003, SMI increased its sales to 12.0 million US-Dollar in 2004, but clearly fell below the targeted sales of 14 million US-Dollar. Third-party sales of the segment micromechanics lost 2.7 percent in Euro, due to exchange rates, and amounted to roughly six percent of Group sales. Despite this slight growth in sales, SMI improved its profitability. After a net loss in 2003, the net result reached a positive amount in 2004, even though price reductions towards the previous owner MSI were to be compensated for. This improvement is above all attributable to the advanced conversion of the manufacture to 150mm wafers. By the end of the year 2004 70 percent of the products were manufactured on 150mm wafers, by the beginning of the year only ten percent were. Manufacture and technology related delays in starting new products cause the lesser growth of the segment micromechanics. The operating income came to 0.8 million Euro, corresponding with a margin of 8.6 percent as compared with 3.1 percent in 2003. Assembly The segment assembly contains the business activities of ELMOS Advanced Packa- ging. Because of reduced activity in the external marketing of products, external sales decreased in 2004 in relation to 2003. In 2004 third-party sales came to 3.5 million Euro. ELMOS Advanced Packaging assembled roughly 57 percent of all packa- ges for ELMOS in 2004. There are plans for a continuing increase of the Group internal services for ELMOS. In 2004 the margins of the assembly segment improved signifi- cantly in comparison with the previous year due to internal measures for efficiency increase and also to raised prices demanded from the external customers. Because of the relatively decreased third-party sales it is intended to discontinue segmental reporting for assembly in 2005. elmos annual report 2004 57
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ANNUAL REPORT 2004
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Five-year overview ELMOS Group acco
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ÿ Chronicle 2004 1 ST QUARTER 2 ND
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ÿ Table of contents MANAGEMENT BOA
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MANAGEMENT BOARD ELMOS - THE COMPAN
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ELMOS IS A PART OF YOUR CAR’S FUT
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ELMOS NETWORKS YOUR CAR EFFECTIVELY
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GROUP STATUS REPORT FINANCIAL STATE
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FINANCIAL CALENDAR Press conference
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ANNUAL REPORT 2004 - ELMOS Semiconductor AG

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