NASDAQ OMX Copenhagen 20 August 2009
Nikolaj Plads 6
1067 Copenhagen K
STOCK EXCHANGE ANNOUNCEMENT no. 14/09
Interim report for the six months ended 30 June 2009
The Board of Directors of Topsil Semiconductor Materials A/S has today
considered and adopted the interim report for the six months ended 30 June
2009. Highlights of the interim report, which is unaudited:
Year to date
Consolidated revenue for H1 2009 was DKK 191.5m against DKK 127.9m in H1 2008.
DKK 36.1m of the DKK 63.6m increase was attributable to revenue from the
activities acquired in Poland.
Operating profit (EBIT) for H1 2009 was DKK 33.9m compared with DKK 30.4m in
2008. The Polish activities reported an operating loss (EBIT) of DKK 16.1m for
H1 2009.
The group's profit before tax for H1 2009 amounted to DKK 29.4m against DKK
28.0m in the year-earlier period.
At 30 June 2009, the group's total assets stood at DKK 547.5m and its equity
ratio at 46.4%.
The group generated positive cash flows of DKK 21.3m in the first six months of
2009, following favourable developments in operating profit and working
capital.
Three months ended 30 June 2009
Consolidated revenue for Q2 2009 was DKK 92.9m and consolidated EBIT DKK 10.4m.
The parent company reported revenue of DKK 70.8m and EBIT of DKK 19.1m. Topsil
reported revenue of DKK 61.9m and EBIT of DKK 13.4m for the year-earlier
period.
The 15% revenue growth reflected unchanged, strong demand for the group's
FZ-based products, although a few customers deferred their orders from the
third quarter to the fourth quarter of 2009. While sales of CZ silicon are on
the rise, the level is lower than earlier expected and continues to be
adversely affected by the economic downturn in the electronics and
semiconductor industries.
Outlook
Taken together the group lowers its consolidated revenue forecast for 2009 to
DKK 410-430m (previously DKK 430-450m). The EBIT margin for 2009 is expected to
be 17% (previously 18%), and profit for the year before tax is now expected to
come to DKK 55-65m (previously DKK 65-75m).
Further information
Please direct any questions regarding this announcement to:
Jens Borelli-Kjær, Chairman, tel. +45 40 16 14 82
Keld Lindegaard Andersen, CEO, tel. +45 21 70 87 72
The full interim report is attached
