Københavns Fondsbørs 28.02.2008
Nikolaj Plads 6
DK-1067 København K
No. 01/08
PRELIMINARY ANNOUNCEMENT OF ANNUAL REPORT 2007
Comments on the results for 2007
The company's net turnover in 2007 was DKK 193.2m compared to DKK 147.5m in
2006. This is an increase of 31%. The operating profit for 2007 was DKK 52m.1,
compared to a profit of DKK 33.6m in 2006.
The year's profit before tax was DKK 48.1m, against a pre-tax profit of DKK
29.2m in 2006. The company made a profit after tax of DKK 34.9m in 2007, while
the profit after tax was DKK 28.1m in 2006.
The result for 2007 is the company's best result so far and is deemed very
satisfactory by the Board of Directors and the management.
Whereas the growth in 2006 was mainly driven by the high level of activity in
the solar-cell industry and its consequences (rising prices of raw materials,
sales of remelt silicon to the solar-cell industry), the growth in the
float-zone industry in 2007-2008 is equally driven by the success of Topsil's
semiconductor customers, who precisely produce high-voltage components based on
NTD material.
At the same time, it is largely the green energy technologies that drive the
very strong growth in high-voltage components based on neutron-dosed float-zone
material. Topsil benefits both directly and indirectly from the growth in the
alternative energy sectors.
Expected future development
Topsil's largest and most important market is the NTD market. In 2007 there was
a growth in the sales of NTD products, which is expected to continue in 2008.
As mentioned, the NTD area is our core competence, and has been since the
1970s.
In the second half of 2007 and the beginning of 2008, the company received more
orders and enquiries for a following year than ever. The activity level for
2008 is thus expected to be higher than in 2007. We assess that we will be able
to buy the same quantity of raw materials for production in 2008 as we had at
our disposal for production in 2007.
We are currently trying to secure greater access to raw materials for the
company, either from the established manufacturers of raw materials for
float-zone production or via development of Czochralski material for subsequent
float-zone treatment. We expect to scale the production in line with our access
to raw materials and customer interest. As mentioned previously, Topsil is
working hard to meet these targets, incorporating both organic and inorganic
solution models to do so.
We expect to reach a turnover of DKK 220-240m in 2008, and a profit before tax
of DKK 50-60m.
The full report is attached or can be downloaded from the company's website at:
http://www.topsil.com/0/492
