Elmos Semiconductor SE Reports Growth in First Quarter of 2024

Elmos Semiconductor SE (FSE: ELG) has reported a 4.5% increase in sales reaching 136.8 million Euro in the first quarter of 2024 compared to the same period last year, which saw sales of 130.9 million Euro. The company also noted an improvement in EBIT, rising to 33.8 million Euro from 31.8 million Euro in the first quarter of 2023, elevating the EBIT margin slightly to 24.7% from 24.3%.

Despite higher capital expenditures, which grew to 20.3 million Euro or 14.8% of sales in the first quarter of 2024 from 15.2 million Euro in the previous year, the company has a positive outlook. Dr. Arne Schneider, CEO of Elmos Semiconductor SE, highlighted the company's robust business performance amidst global uncertainties.

For the fiscal year 2024, Elmos forecasts sales to be around 605 million Euro and anticipates an EBIT margin of approximately 25%. The company also expects a significant improvement in adjusted free cash flow, projecting positive figures in contrast to the -24.3 million Euro observed in 2023.