ANNUAL REPORT 2004 - ELMOS Semiconductor AG

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MANAGEMENT BOARD ELMOS – THE COMPANY THE ELMOS SHARE CORPORATE GOVERNANCE 68 ELMOS remains niche supplier of customer specific automotive semiconductors Share of electronics per car generates further growth of our market ÿ Outlook report ELMOS will keep focusing on customer specific applications for the automobile industry as a niche supplier. The ELMOS technology, the ELMOS design, and the production in ELMOS manufacture are the solid pillars of this strategy. The successful automotive ASIC business is going to be completed by the increased marketing of application specific mechatronic modules combining ASICs, sensors, and functional packages, with patented technologies if applicable. In addition application specific standard products, usually based on previously developed ASICs and aiming for demand by several customers, are intended to expand the product portfolio. It is another objective of the ELMOS Group to increase the sales proportion on faster- developing markets besides the automotive market in order to use those markets as innovation drivers. Geographically speaking, ELMOS strives for a penetration of the North American market and in the medium term an increased expansion in the Asian market. Stagnation of the worldwide semiconductor markets is generally assumed for the year 2005. However, significant changes in worldwide demand for semiconductors in the automobile industry are not expected. The numbers of new automobile registra- tions will not carry surprises and follow the prior year numbers essentially. Owing to the continuously increasing share of electronics per car, the market for automotive semiconductors will keep growing. An increase by eight to nine percent is expected for automotive semiconductor chips until 2010. This is underlined by a well-filled product pipeline due to the design wins of recent years and the satisfying incoming orders for 2005 despite a dropping book-to-bill ratio in the second half-year of 2004. A higher delivery volume corresponds with an increased utilization of production capacity in Dortmund destined to lead to a further improvement of the profit situation.
GROUP STATUS REPORT FINANCIAL STATEMENTS GROUP STRUCTURE GLOSSARY Business and economic framework Future of automotive electronics Profit, financial and assets situation Supplementary report Risk report ÿ Outlook report In the micromechanics segment the continuation of the conversion of the current production to 150mm wafers is on the SMI schedule. ELMOS expects from this another improvement of the gross margin especially in the foundry business for third- party customers. Of special importance are the planned serial starts of numerous new products. In cooperation with the semiconductor manufacture in Dortmund several important ASIC plus projects are developed with major European customers reaching deciding milestones in the year 2005. No substantial investments in either buildings or machines are scheduled for SMI in the year 2005. Investments in the year 2005 will refer mainly to the described measures for the establishment of frontend capacity in both Duisburg and Dortmund as well as the backend expansion in Dortmund. As has been reported above, a corresponding medium-term investment plan for the next years has been devised. This outline plan of the ELMOS Group allows for investments in the next years of about 30 million Euro annually. The net cash provided by operating activities is targeted to cover the future investments so that the necessity of external financing will not arise. Altogether the ELMOS Group aims for an increase in sales of more than 15 percent in the year 2005. The gross margin and the proportion of operating income to sales are supposed to reach their respective targeted values of 50 percent and 20 percent again. Dortmund, February 2005 The Management Board Knut Hinrichs Dr. Klaus Weyer Dr. Peter Thoma Reinhard Senf elmos annual report 2004 69
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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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ANNUAL REPORT 2004 - ELMOS Semiconductor AG

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