OKMETIC OYJ STOCK EXCHANGE RELEASE 16 JANUARY 2013 AT 5.00 P.M.
OKMETIC REVISES ITS GUIDANCE FOR 2012 DOWNWARD ON THE BASIS OF PRELIMINARY RESULTS
Okmetic revises its estimate on the net sales and operating profit for 2012 on the basis of unaudited preliminary results. According to these results, the net sales for 2012 are 83.1 and operating profit is 8.0 million euro (83.2 and 11.8 million euro in 2011). The net sales for the last quarter of 2012 are 20.7 and operating profit is 1.0 million euro (18.1 and 2.3 million euro in 2011). According to the earlier guidance, the net sales of 2012 were estimated to settle approximately at the level of 2011. Operating profit was estimated to remain slightly under the level of 2011. Based on the preliminary results the net sales are in accordance with the guidance, but the operating profit remains under the level set in the earlier guidance due to the fourth quarter's and especially December's result. However, the operating profit's share of the net sales (9.6%) for the financial year 2012 nearly reaches the good long-term objective level of 10 percent.
Mainly the following factors have contributed to the revision of the guidance:
- Due to the lowered price level, the technology sales that consist of solar crystal shipments were significantly less profitable in the last quarter compared to the time when the long-term shipment contracts that terminated in July were still valid.
- The demand for epi wafers saw a strong decline towards the end of the year, and the last quarter was unprofitable at the Allen production plant.
- The unfavourable changes of exchange rates and notable non-recurring expense items weighed down the operating profit in the end of the year and especially in December.
The demand for demanding sensor wafers which have been chosen as Okmetic's long-term strategic focus area continued to be steady during the end of the year. The total sales of the company's silicon wafers grew in absolute terms and clearly faster than the market also in 2012. The outlook and guidance for 2013 will be covered more accurately in the financial statements release on 12 February 2013 in line with the normal procedure. The silicon wafer business outlook for 2013 is, however, initially positive whereas the technology business that is suffering from the solar cell market's global difficulties is likely to play a smaller role in the coming years as anticipated in earlier interim reports.
OKMETIC OYJ
Kai Seikku
President
For further information, please contact:
President Kai Seikku, Okmetic Oyj,
tel. +358 400 200 288, e-mail: kai.seikku@okmetic.com
Senior Vice President, Finance, IT, and Communications Juha Jaatinen, Okmetic Oyj, tel. +358 9 5028 0286, e-mail: juha.jaatinen@okmetic.com
Distribution:
NASDAQ OMX Helsinki
Principal media
www.okmetic.com
OKMETIC IN BRIEF
Take it higher
Okmetic is a technology company which supplies tailor-made silicon wafers for sensor and semiconductor industries and sells its technological expertise to the solar cell industry. Okmetic provides its customers with solutions that boost their competitiveness and profitability.
Okmetic's silicon wafers are part of a further processing chain that produces end products that improve human interaction and quality of life. Okmetic's products are based on high-tech expertise that generates added value for customers, innovative product development and an extremely efficient production process.
Okmetic has a global customer base and sales network, production plants in Finland and the US and contract manufacturers in Japan and China.
Okmetic's shares are listed on NASDAQ OMX Helsinki under the code OKM1V. For more information on the company, please visit our website at www.okmetic.com.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Okmetic Oyj via Thomson Reuters ONE
