DGAP-Ad-hoc: Dialog Semiconductor Plc. / Key word(s): Miscellaneous
DIALOG SEMICONDUCTOR WITHDRAWS ITS OUTLOOK FOR THE FULL YEAR 2020
01-May-2020 / 19:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*London, UK, 1 May 2020* - Dialog Semiconductor Plc (XETRA: DLG) withdraws
its outlook for the full year 2020 due to lack of visibility for the second
half of the year.
On 4 March 2020, Dialog indicated that for FY 2020, revenue excluding its
licensed main PMICs was expected to grow in the approximately mid teens
percentage range and total Group revenue was expected to be second half
weighted with declining revenue from legacy licensed main PMICs.
Additionally, the Company expected, total Group revenue for FY 2020 to
decline from FY 2019 US$1,420 million in approximately the mid teens
percentage point range, excluding any revenue from the announced acquisition
of Adesto Technologies Corporation. Based on this revenue, in FY 2020 Dialog
anticipated underlying1 gross margin to continue on a gradual upward trend.
The March outlook assumed a return to normal for supply chain and contract
manufacturers by Q2 2020.
Although the situation of our supply chain and contract manufacturers is
close to being fully operational, and the level of customer engagements
continues as planned, the ongoing economic uncertainty caused by the
COVID-19 pandemic is resulting in lower than usual visibility in our outlook
for the second half of the year. Due to this, we are withdrawing the FY 2020
outlook communicated on 4 March 2020.
Our fabless business model and the strength of our balance sheet provide us
with financial resilience and operational flexibility to successfully
navigate the current circumstances. We remain confident in our structural
growth prospects as we build a more diverse mixed-signal business with a
balanced market exposure, focused in high-growth segments of our target end
markets.
The Company will publish its results for the quarter ended 27 March 2020 on
6 May 2020.
***
1. Underlying measures of performance quoted in this announcement are
non-IFRS measures. Our use of underlying measures is explained on pages 183
to 189 of our 2019 Annual Report and Accounts. Reconciliations of the
underlying measures to the nearest equivalent IFRS measures will be
presented in our Q1 2020 Interim Report.
Contact:
Jose Cano
Director, Investor Relations
jose.cano@diasemi.com
+44(0)1793756961
Information and Explanation of the Issuer to this News:
*For further information please contact: *
*Dialog Semiconductor*
*Jose Cano *
Head of Investor Relations
T: +44 (0)1793 756 961
jose.cano@diasemi.com
*FTI Consulting* *London*
Matt Dixon
T: +44 (0)2037 271 137
matt.dixon@fticonsulting.com
*FTI Consulting Frankfurt*
Anja Meusel
T: +49 (0) 69 9203 7120
Anja.Meusel@fticonsulting.com
*About Dialog Semiconductor*
Dialog Semiconductor is a leading provider of integrated circuits (ICs) that
power mobile devices and the Internet of Things. Dialog solutions are
integral to some of today's leading mobile devices and the enabling element
for increasing performance and productivity on the go. From making
smartphones more power efficient and shortening charging times, enabling
home appliances to be controlled from anywhere, to connecting the next
generation of wearable devices, Dialog's decades of experience and
world-class innovation help manufacturers get to what's next.
Dialog operates a fabless business model and is a socially responsible
employer pursuing many programs to benefit the employees, community, other
stakeholders and the environment in which we operate. Dialog Semiconductor
Plc is headquartered in London with a global sales, R&D and marketing
organization. In 2019, it had approximately $1.4 billion in revenue. It
currently has approximately 2,000 employees worldwide. The company is listed
on the Frankfurt (FWB: DLG) stock exchange (Regulated Market, Prime
Standard, ISIN GB0059822006). For more information, visit
www.dialog-semiconductor.com [1].
*Forward Looking Statements*
This press release contains 'forward-looking statements' that reflect
management's current views with respect to future events. The words
'anticipate,' 'believe,' 'estimate', 'expect,' 'intend,' 'may,' 'plan,'
'project' and 'should' and similar expressions identify forward-looking
statements. Such statements are subject to risks and uncertainties,
including, but not limited to: an economic downturn in the semiconductor and
telecommunications markets; changes in currency exchange rates and interest
rates, the timing of customer orders and manufacturing lead times,
insufficient, excess or obsolete inventory, the impact of competing products
and their pricing, political risks in the countries in which we operate or
sale and supply constraints. If any of these or other risks and
uncertainties occur (some of which are described under the heading 'Managing
risk and uncertainty' in Dialog Semiconductor's most recent Annual Report)
or if the assumptions underlying any of these statements prove incorrect,
then actual results may be materially different from those expressed or
implied by such statements. We do not intend or assume any obligation to
update any forward-looking statement which speaks only as of the date on
which it is made, however, any subsequent statement will supersede any
previous statement.
01-May-2020 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Dialog Semiconductor Plc.
Tower Bridge House, St. Katharine's Way
E1W 1AA London
United Kingdom
Phone: +49 7021 805-412
Fax: +49 7021 805-200
E-mail: jose.cano@diasemi.com
Internet: www.dialog-semiconductor.com
ISIN: GB0059822006
WKN: 927200
Indices: MDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1034919
End of Announcement DGAP News Service
1034919 01-May-2020 CET/CEST
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May 01, 2020 13:42 ET (17:42 GMT)
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