The Board of Directors of Topsil Semiconductor Materials A/S has today considered and adopted the interim report for the three months ended 30 September 2012. The highlights of the interim report, which is unaudited, are shown below:
OVERVIEW
Revenue and earnings
Topsil's revenue was DKK 62.6 million in Q3 2012 against DKK 86.1 million in the same period last year, corresponding to a decline of 27%. In the nine months ended 30 September 2012, revenue declined by 23% year on year. The decline in revenue is in line with previously announced expectations for the year and is mainly due to weaker demand from large contract customers.
Topsil's EBITDA for Q3 2012 was DKK (1.6) million against DKK 5.5 million in Q3 2011. The EBITDA margin for the quarter was (2.6)% against 6.4% for the same period last year. The performance was in line with expectations.
Main events
Market developments and the introduction of new products
Topsil's primary market, the power market, continued to show weak demand for silicon for the most complex components. Customer qualifications of the new FZ-PFZ silicon and CZ-EPI continued according to plan.
R&D
The development of 200 mm FZ silicon showed considerable progress during the third quarter where production of full diameter silicon was achieved several times. The first wafers were distributed according to plan for initial customer testing.
New plant
The first employee groups were relocated to the new plant during the third quarter, and production equipment installed was tested and modified during the period. The official opening ceremony was held on 1 October 2012.
Outlook for 2012
Topsil's guidance is unchanged: Revenue is expected in the range of DKK 260-280 million and EBITDA in the range of DKK 5-15 million as announced in stock exchange release on 8 August 2012.
Any queries regarding this stock exchange announcement may be addressed to the company's CEO and CFO through: Christina Fris Bjørling, Communications, tel.: +45 2152 1011
