OKMETIC REVISES ITS GUIDANCE FOR 2012 DOWNWARD ON THE BASIS OF PRELIMINARY RESULTS
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
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.Â 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.
For further information, please contact:
President Kai Seikku, Okmetic Oyj,
tel. +358 400 200 288, e-mail: firstname.lastname@example.org
Senior Vice President, Finance, IT, and Communications Juha Jaatinen, Okmetic
Oyj, tel. +358 9 5028 0286, e-mail: email@example.com
NASDAQ OMX Helsinki
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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
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.
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Source: Okmetic Oyj via Thomson Reuters ONE