Melexis Q4 2007 results
Intermediate declaration by the Board of Directors
Ieper, Belgium - February 14th, 2008, 07.00 hrs CET
The statutory auditors BDO Atrio Bedrijfsrevisoren BCV, have confirmed that their audit procedures, which have been substantially completed, have not revealed any material adjustments which would have to be made to the accounting information included in this press release.
For the year 2007, revenues were 204 million EUR, an increase of 1% compared to the previous year. Currency fluctuations had a negative impact of 6%.
Gross margin was 84.8 million EUR, at the same level compared to 2006.
The operating result was 40.9 million EUR, a decrease of 4% compared to last year.
The negative impact of the Dollar on the operating result was 3.5 million EUR compared to last year.
Net profit was 37.1 million EUR, 7% more than the previous year.
Revenues in the 4th quarter of 2007 were 52 million EUR, 3% more than the 4th quarter of 2006.
Currency movements had a negative impact of 8%.
Gross margin was 21.6 million EUR, an increase of 2% compared to 2006.
The operating result was 11.7 million EUR, an increase of 18% compared to last year.
The negative impact of the Dollar on the operating result was 1.6 million EUR, compared to the 4th quarter of 2006.
R&D expenses were at 15% of sales, while SG&A expenses rose to 10% of sales.
The other operating income of 2.9 million EUR is the result of the sale of the building Melexis constructed in Sofia in 1998. Melexis moved out of this building into a new larger facility at the end of September 2006.
Net profit was 11.6 million EUR, an increase of 32% compared to the same quarter last year.
Since January 2008, Melexis has repurchased 250.000 of its own shares.
Karen van Griensven, CFO of Melexis comments:
“Melexis realised an income of 2.9 million EUR on a sale of a 4.200 m² building in Sofia. Melexis typically acquires land/buildings rather than renting them. This sale shows that such policy pays off from time to time.
The company owns 8 buildings in 7 different countries, totaling 40.984m² of land and 33.012 m² of floor space.”
Rudi De Winter, CEO of Melexis comments:
“Melexis gained market share versus the semiconductor market as a whole and in particular in the automotive segment. In a USD dominated market, the Melexis automotive business remained strong at 7% growth in EUR or 17% in USD.”
Outlook for 2008
For 2008, we reiterate that we expect an increase in revenues of 5%, with a net profit margin in the range of 16-17%.
Financial Calendar
The BOD also agreed to organize an extraordinary shareholders’ meeting on April 21st, 2008. The only agenda item will be the buy back of shares.
• Shareholders Meeting on April 21st 2008.
• Release of Q1-results on April 23rd 2008.
• Release of H1-results on July 31st 2008.
• Release of Q3-results on October 23rd 2008