Aug 1st, 2012
Okmetic Oy: Interim report 1 January - 30 June 2012: The sales started to grow in the second quarter, as anticipated
Unless otherwise stated, figures in parenthesis refer to the corresponding period in the previous year.
April-June in brief:
- Net sales amounted to 22.5 (21.7) million euro, up 3.3%.
- Operating profit was 2.5 (2.6) million euro corresponding to 11.2% of net sales.
- Profit for the period was 2.1 (2.6) million euro.
- Basic earnings per share was 0.12 (0.15) euro.
- Net cash flow from operations amounted to 2.6 (5.5) million euro.
January-June in brief:
- Net sales amounted to 41.4 (43.8) million euro, down 5.5%.
- Operating profit was 4.0 (5.4) million euro corresponding to 9.8% of net sales.
- Profit for the period was 2.8 (5.3) million euro.
- Basic earnings per share was 0.17 (0.32) euro.
- Net cash flow from operations amounted to 1.7 (4.2) million euro.
Projections for the near future
The customer industries are estimated to grow moderately in Okmetic's main product groups in 2012. The demand of semiconductor industry started increasing in the beginning of the year, and this trend seems to continue in Okmetic's central customer areas in the second half of the year.
The development of sensor wafer demand is estimated to be somewhat more stable in 2012 than the demand for semiconductor wafers. The growth of sensor wafer demand seems to focus on the second half of the year.
Technology sales comprise mainly solar crystal sales. Okmetic's long-term shipment contracts have terminated and the order backlog consists of shorter-term shipments. The lowered price level throughout the solar cell industry's value chain will restrict opportunities for profitable business in the end of the year. In the second half of the year Okmetic's technology sales will clearly remain under the level of the beginning of the year.
The recent development of exchange rates and the possible development during the rest of the year, especially the strengthening of US dollar against euro, have a positive impact on Okmetic's net sales and operating profit.
The company retains the existing guidance, according to which the net sales and operating profit for 2012 are estimated to exceed the level of 2011.
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