Silicon Sensor International AG / Preliminary Results/Forecast
04.02.2009
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Preliminary year-end results for 2008
February 04, 2008
In 2008, the Silicon Sensor Group was not fully able, due to non-recurring
extraordinary effects resulting from the construction of the new sensor
plant, a tax audit, the reorganization in the Board as well as an
impairment of Goodwill, even boosted by the financial crisis and the
cyclical clouding, to tie up to the outstanding results of 2007.
Notwithstanding the temporarily production stop, caused by the move of
production facilities to the new plant, sales amount to approximately 39
million in 2008. This is an increase by 5% compared to the previous year
(2007: 37.014 million). The EBIT before non-recurring extraordinary
effects and impairment to Goodwill is anticipated at 5.0 million (2007:
6.6 million). Especially the far behind expectations performing sales of
Microelectronic Packaging Dresden GmbH (MPD), inter alia with the customer
Infineon, avert results comparable to the previous year. Based on a revised
assessment of the market for packaging and assembly of integrated circuits
and determined by a revised business plan for MPD, the Board has decided to
considerably write off the MPD Goodwill and related intangible assets to
the fair value. Therefore the EBIT declines after non-recurring
extraordinary effects and impairment of Goodwill to approximately - 12
(minus twelve) million.
Within a risk appraisal for the Silicon Sensor Group the Board has
investigated a worst case scenario. Even in a case of a breakdown of sales
by 25% compared to the 2009 plan of 43 million, liquidity reserve of the
company would be sufficient, to continue business successfully and to close
2009 with a positive EBIT. Premise is the further implementation of a
partially already realized cost reduction program. The cost reduction
program is under the provision that there wont be enforced redundancies,
as a clear increase in sales is anticipated for end of 2009. Due to the
continuing uncertainty we anticipate a high bandwidth for sales between
32.5 million and 43 million and for EBIT between 1 million and 6
million.
All figures in this message reflect the present and preliminary status of
the group close and can change within the process of auditing and compiling
the group accounts. The complete financial report will be published on
March 30, 2009.
Silicon Sensor International AG
The Board of Directors
DGAP 04.02.2009
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Language: English
Issuer: Silicon Sensor International AG
Charlottenstraße 57
10117 Berlin
Deutschland
Phone: +49 (0)30 2094-5710
Fax: +49 (0)30 2094-5719
E-mail: ir@silicon-sensor.de
Internet: www.silicon-sensor.com
ISIN: DE0007201907
WKN: 720190
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: Silicon Sensor International AG: Preliminary year-end results for 2008
| Source: EQS Group AG