Zurich, July 21, 2016 – Micronas recorded consolidated net sales of CHF 77.4 million in the first half of 2016, 9 percent higher than the figure posted for the first half of 2015. The gross margin for the first six months of 2016 was 25 percent of sales, compared with 27 percent in the equivalent prior-year period. The operating profit (EBIT) was down slightly at CHF 1.2 million, which is CHF 0.7 million lower than the year-back figure.
After taking account of financial income and taxes, there was a loss of CHF 0.1 million for the first half of 2016. In the first six months of 2015 the Company had posted a loss of CHF 5.2 million owing mainly to the effect on valuations of the euro-Swiss franc exchange rate. Earnings per share in the first half of 2016 came to CHF 0.00.
Net liquidity (cash, cash equivalents and short-term financial cash deposits) was down slightly by CHF 7.2 million, mainly due to ongoing capital expenditure projects, compared with the end of 2015 to stand at CHF 112.2 million at end-June 2016. Shareholders’ equity came to CHF 69.2 million, giving an equity ratio of 27 percent.
Micronas, a TDK group company, is the most preferred partner for sensing and control. Micronas serves all major automotive electronics customers worldwide, many of them in long-term partnerships for lasting success. While the holding company is headquartered in Zurich (Switzerland), operational headquarters are based in Freiburg (Germany). Currently, the Micronas Group employs around 900 persons.
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The half-year financial statement 2016 is available at: www.micronas.com
Press Release PR1615
This press release contains forward-looking statements, such as projections, forecasts and estimates. Such forward-looking statements are dependent on certain risks and uncertainties which may cause actual results, performance or events to differ materially from those anticipated in this press release. The forward-looking statements contained in this press release are based on Micronas' views and assumptions as of this date and Micronas does not assume any obligation to update or revise this press release. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.