X-FAB Announces Half-Year ResultsErfurt, Germany, September 17, 2009.
X-FAB Silicon Foundries today announced sales of USD 84.4 million (EUR 63.3 million) for the first six months of the current fiscal year. This corresponds to a year-on-year decline of approximately 62.7 percent. Sales in the second quarter amounted to USD 43.4 million (EUR 31.9 million), a decline of 59.5 percent compared to the same period last year and an increase of 5.7 percent compared to the first quarter of the current fiscal year. Due to the recovery in bookings, which began at the end of the first quarter and significantly accelerated during second quarter, X-FAB expects business will improve considerably in the second half.
Earnings before interest and taxes (EBIT) as of June 30, 2009, were USD -34.3 million (EUR -25.7 million). This compares to EBIT of USD 23.4 million (EUR 15.3 million) for the first six months of 2008. X-FAB recorded second-quarter EBIT of USD -13.4 million (EUR -9.7 million) compared to USD 6.6 million (EUR 4.1 million) in the second quarter of 2008. EBIT showed a considerable increase compared to the first quarter of 2009.
While the book-to-bill ratio for the second quarter was 1.08, it improved to 1.18 in the first two months of the current quarter.
Hans-Jürgen Straub, CEO of the X-FAB Silicon Foundries Group, commented on business development: "The worst is behind us. The upward trend has stabilized, so we now anticipate second-half sales growth of approximately 40 percent compared to the first half of 2009."