X-FAB Continued Positive Growth Trajectory in 2007 with Sales Topping USD 400 Million
The X-FAB Silicon Foundries Group today announced its financial results for 2007, recording a large sales increase of approximately 66 percent year over year, the highest yet in its consistently solid growth path trajectory
Sales revenue for 2007 was USD 409.9 million (EUR 299.3 million) compared to USD 246.7 million (EUR 196.6 million) the previous year. X-FAB, which manufactures analog-digital integrated circuits on customer order, continued to experience strong demand for mixed-signal technologies for applications in the automobile, communications and consumer goods sectors.
A major highlight of 2007 was the addition of the Dresden manufacturing facility. X-FAB Dresden has been included in the X-FAB Group's consolidation since April 1, 2007, and contributed sales revenue of USD 44.7 million (EUR 32.6 million) to X-FAB’s positive sales performance.
The operating result for 2007 was USD 46.7 million (EUR 34.1 million), an increase of approximately 44 percent over the previous year's USD 32.3 million (EUR 25.7 million). Earnings before tax jumped 65 percent to USD 38.7 million (EUR 28.3 million). Earnings before tax the previous year were USD 23.4 million (EUR 18.6 million).
The company’s equity ratio for the fiscal year just ended was approximately 60 percent. The cash flow from operating activities was USD 62.5 million (EUR 45.6 million) compared to USD 32.2 million (EUR 25.7 million) the previous year. X-FAB Group research and development expenditures in 2007 were USD 24.9 (EUR 18.2 million) compared to USD 19.3 million (EUR 15.4 million) in 2006.
Hans-Jürgen Straub, chief executive officer of the X-FAB Group, commented: "X-FAB recorded strong growth, with quarterly sales of more than USD 110 million and annual sales of more than USD 400 million in 2007, topping our previous records. With the addition of two new sites in Kuching (Malaysia) and Dresden (Germany) during the past two years, our focus in 2008 is on internal optimization. We do, however, expect X-FAB to show growth that is above the industry average this year."