Double-digit percentage growth in new orders and sales
EBIT improved by EUR 74 million to plus EUR 47 million
Net cash flow improved by EUR 163 million to plus EUR 98 million
Q4 2006 (continuing operations):
Sales increased to EUR 350 million, up 10 percent year on year, up 6 percent sequentially
EBIT: improved to plus EUR 17 million despite one-time charge of EUR 6 million (Q4 2005: minus EUR 11 million; Q3 2006: plus EUR 15 million)
1. Q4 2006 (continuing operations)
1.1. New orders and sales
Business development remained positive on the whole in the fourth quarter of fiscal 2006 (July 1 through September 30, 2006). Although new orders decreased slightly after a strong intake in the previous quarter, sales increased again both sequentially and year on year. Earnings before interest and tax (EBIT) improved further despite one-time charges incurred for the discontinuation of the UltraCap® activities.
1.1.1. Comparison with Q3 2006
New orders and sales
(EUR million)
Q3 2006
± in %
Q4 2006
New orders
356
-5
338
Sales
330
+6
350
New orders declined by 5 percent to EUR 338 million in Q4 2006. Seasonal influences, including the vacation period in Europe were one reason for this decrease. Another was that several automotive electronics customers had placed large, longer-term orders in the previous quarter. Similarly, demand from distributors eased after comparatively sizeable orders had been placed in the two preceding quarters. Orders from customers in the telecommunications equipment and consumer electronics industries almost reached the levels booked in the previous quarter.
Regionally, new orders declined by more than 10 percent in both Germany and the NAFTA region. The order intake from Asian customers remained more or less stable sequentially.
Business in almost all regions and industries served contributed to the 6 percent sequential increase in sales to EUR 350 million. Only sales via distributors and to customers in the NAFTA region declined sequentially. Persistently weak development in the US automotive industry was partly to blame for this negative trend.
Sales by business segment
(EUR million)
Q3 2006
± in %
Q4 2006
Capacitors and Inductors
124
+1
125
Ceramic Components
106
+8
114
SAW Components
100
+10
111
In the Capacitors and Inductors segment, business with all products and industries served remained stable. Sales once again increased sequentially at both Ceramic Components and Surface Acoustic Wave (SAW) Components. Growing demand for piezo actuators and robust demand for SAW products and modules for mobile communications and multimedia devices were largely responsible for this trend.
