Micronas in profit surge

Micronas logo

Zurich-based chip-manufacturer maker Micronas, which makes application-specific semi-conductors for electronic devices such as TVs, video equipment and radio and the car industry, reported a 74.3% first-half jump in earnings on revenues of CHF 487.7m, up 39.5% on last year.

Sales during the second quarter reached CHF 250.5m, pushing 5.6% ahead of the preceding quarter, as demand for Micronas products continued to grow. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 1.9% compared with the first quarter, yielding an operating profit of CHF 54.5m, an increase of 2.6% on the previous quarter.

The company attributed a 4% fall in profit the second quarter to CHF 35.8m to higher tax charges, but the first-half net profit reached CHF 73.2 million - a 74.3% increase on the equivalent period a year ago.

After issuing 300,000 new shares in June following the takeover of LINX Electronics - first announced in May - the group forecast a business climate "marked by persistent uncertainty", but voiced confidence in future growth prospects thanks to "excellent" positioning in the market.

Lovelacemedia  |  14.07.2004

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