english dansk 中文 日本語 Silicon products R&D Quality Investors About Career Contacts INTERIM REPORT Q2 2015 25. August 2015 POSITIVE PERFORMANCE IN Q2 2015 "As expected, the second quarter of 2015 saw positive developments in both revenue and operating profit. The customer complaint from 2014 has been resolved, and we have resumed deliveries to the customer in question. Efficiency improvements in production and our cost cutting programme are also reflected in the figures for Q2 2015." Kalle Hvidt Nielsen, CEO HIGHLIGHTS OF THE QUARTER Topsil's revenue was DKK 76.4 million in Q2 2015 against DKK 65.3 million in the year-earlier period (up 17%). The improvement was partly achieved because the customer complaint case was resolved and deliveries to the customer resumed. The contribution ratio was 48.6% in Q2, representing a year-on-year increase of 6.3 percentage points. EBITDA was a profit of DKK 6.2 million, equivalent to an EBITDA margin of 8.1% in Q2 2015. In the same period of last year, EBITDA was a loss of DKK 5.0 million. Cash flows from operating activities were an outflow of DKK 7.6 million in Q2 2015. Cash flows from operating activities in H1 2015 were an inflow of DKK 2.7 million against an outflow of DKK 3.1 million in H1 2014, the change being driven mainly by the improvement in operating profit. Cash flows for investing activities were an outflow of DKK 2.2 million in Q2 and DKK 4.7 million in H1 2015. The updated strategy for 2016-2018 is planned to be completed in the autumn. Focus areas will be: - lifting earnings to a significantly higher level, - reducing working capital, and - strengthening the capital base. OUTLOOK FOR 2015 The guidance for 2015 of revenue growth of around 0-5% and EBITDA in the range of DKK 10-20 million is retained. Market volume is expected to grow, but prices are expected to remain squeezed as a result of surplus capacity. The lower selling prices are expected to be offset by efficiency improvements and cost reductions. See announcement About Mission Policies and positions Management Strategy 2013-2015 Corporate Governance Corporate Social Responsibility Topsil Poland Company history Press Room Topsil Semiconductor Materials A/S Siliciumvej 1, DK-3600 Frederikssund Phone: +45 47 36 56 00 Fax: +45 47 36 56 01 E-mail: topsil@topsil.com