NASDAQ OMX Copenhagen 25 May 2009
Nikolaj Plads 6
DK-1067 Copenhagen K
STOCK EXCHANGE ANNOUNCEMENT no. 11/09
Interim report for the three months ended 31 March 2009
The Board of Directors of Topsil Semiconductor Materials A/S has today
considered and adopted the interim report for the three months ended 31 March
2009. Highlights of the interim report, which is unaudited:
Summary
The group's revenue increased by 49% in the three months ended 31 March 2009 to
DKK 98.6m from DKK 66.0m in the year-earlier period. DKK 14.0m of the increase
is attributable to revenue in Cemat Silicon S.A., which was acquired in October
2008.
There is still high demand for the group's FZ based products from present as
well as potential customers, although a few customers have downgraded their
forecasts. The market for CZ silicon is still materially affected by the
economic recession in the electronics and semiconductor industries; however,
Cemat Silicon S.A.'s order book is now showing an upward trend.
Operating profit was DKK 23.5m against DKK 17.0m in 2008.
Profit before tax of the group was DKK 22.3m and profit after tax DKK 14.1m in
the three months ended 31 March 2009 against a profit before tax of DKK 13.6m
and a profit after tax of DKK 9.9m in the year-earlier period.
Revenue and profit are at anticipated levels.
At 31 March 2009 the total assets amounted to DKK 504.3m, and the solvency
ratio stood at 47.4% against DKK 503.9m and 49.5% respectively at the beginning
of the year.
During the first three months of 2009 the group had positive cash flows of DKK
21.5m due to cash inflows from operating activities.
Outlook
The group maintains its expectations for revenue in 2009 of DKK 430-450m, a
profit margin of about 18%, and profit before tax of 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 for the three months ended 31 March 2009 is attached or
can be downloaded from www.topsil.com
