Melexis Q4 and FY 2013 results - Melexis celebrates its 25th anniversary with FY 2013 double digit sales growth

Intermediate declaration by the Board of Directors.
Ieper, Belgium - 5 February 2014, 07.00 am CET

The statutory auditor BDO Bedrijfsrevisoren Burg. Ven. CVBA, has confirmed that his audit procedures, which have been substantially completed, have not revealed material adjustments which would have to be made to the accounting information included in this press release.

For the year 2013, sales were 275.4M EUR, an increase of 11% compared to the previous year. The EUR/USD exchange rate evolution had a negative impact of 2% compared to 2012.
Gross margin was 127.5M EUR, an increase of 10% compared to 2012.
R&D expenses were 15.0% of sales, G&A was at 5.4% of sales and Selling was at 2.7% of sales. The operating result was 63.7M EUR, an increase of 14% compared to last year.
Net income was 55.2M EUR, compared to 51.5M EUR in 2012, an increase of 7%. Net income per share was 1.37 EUR, up from 1.25 EUR in 2012, an increase of 9%.

Sales for the 4th quarter of 2013 were 75.1M EUR, an increase of 21% compared to the same quarter of the previous year and an increase of 5% compared to the previous quarter. The EUR/USD exchange rate evolution had a negative impact of 3% compared to the same quarter of last year and a negative impact of 1% compared to the previous quarter.
Gross margin was 34.9M EUR, an increase of 20% compared to the same quarter of last year.
R&D expenses were 14.2% of sales, G&A was at 5.4% of sales and Selling was at 2.8% of sales. The operating result was 18.1M EUR, an increase of 32% compared to the same quarter of the previous year.
Net income was 15.8M EUR, 0.39 EUR per share, compared to 16.5M EUR in the same quarter of last year.

Outlook
Melexis expects sales in the first quarter of 2014 to be around the same level as the previous quarter.
For FY 2014, Melexis expects to reach 300M EUR in sales, a gross profit margin above 45% and an operating margin close to 23%, all taking into account a EUR/USD exchange rate of 1.35.

Françoise Chombar, CEO of Melexis comments:
"Melexis perseveres in gaining market share slowly but surely. Over the past year, new product launches have continued at the expected pace, on the one hand strengthening our core in magnetic sensors and LIN and equally adding some new avenues in optical sensing. All of these newly launched products are engineered to contribute in one or the other way to reducing the environmental footprint of our customers and our customers' customers. Melexis constantly innovates for people, planet and profit."

Financial Calendar

Annual Shareholders Meeting: 22 April 22 2014

Publication Q1 2014 Results: 23 April 2014

Publication Q2/HY1 2014 Results: 30 July 2014

Publication Q3 2014 Results: 22 October 2014

Publication FY 2014 Results: 4 February 2015

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