Q4 2009
Fiscal 2009
- Global economic crisis drives sales and earnings down
- Good progress in the combination of TDK’s components business and EPCOS:
TDK-EPC Corporation launched
1. Q4 2009
In the fourth quarter of fiscal 2009 (July 1 through September 30, 2009), EPCOS’ business development saw a substantial sequential improvement.
Compared to Q3 2009, sales rose 16 percent to EUR 323 million. Earnings before interest and tax (EBIT) improved by around EUR 30 million to plus EUR 6 million, putting EPCOS back in the black.
2. Sales
2.1. Comparison with Q3 2009
| EUR million | Q3 2009 | ± | Q4 2009 |
| Sales | 279 | +16% | 323 |
Business with all industries served made a double-digit contribution to the sequential increase in sales.
In particular, demand for products for automotive electronics applications continued to revive. Accordingly, sales growth was strongest for these products, although the gain of 25 percent still leaves the sales volume on a lower level than a year ago. Sequential increases of around 15 percent were recorded for sales to manufacturers of information and communication technology, to industrial and consumer electronics customers and to distributors.
All the regions served likewise recorded double-digit growth in sales compared to the previous quarter.
Sales by business segment
| EUR million | Q3 2009 | ± | Q4 2009 |
| Capacitors and Inductors | 118 | +14% | 134 |
| Ceramic Components | 77 | +16% | 90 |
| SAW Components | 84 | +18% | 99 |
Compared to Q3 2009, all EPCOS business segments achieved double-digit sales growth in the quarter under review.
Sales for the Capacitors and Inductors segment rose 14 percent to EUR 134 million. Almost all product groups contributed to this growth.
For Ceramic Components, sales were up 16 percent to EUR 90 million. Recovering business with automotive electronics products had a particularly positive impact in this segment.
Surface Acoustic Wave (SAW) Components experienced the strongest growth as sales climbed 18 percent to EUR 99 million. Positive development in business with RF filters and modules for mobile communication applications played a large part in this increase. Demand for multimedia filters for use in entertainment electronics equipment likewise improved.
2.2 Comparison with Q4 2008
| EUR million | Q4 2008 | ± | Q4 2009 |
| Sales | 382 | −15% | 323 |
Year on year, EPCOS’ overall sales were down 15 percent in Q4 2009. The only increase was in sales of products for consumer electronics applications, which were 6 percent higher than in the same period a year ago. This gain was above all due to the contribution of the Chinese joint venture, EPCOS Feida, which commenced operations at the start of 2009.
Sales to all other industries served posted a double-digit decline compared to the same period a year ago. The sharpest drop was recorded in sales to distributors, which fell by nearly 25 percent.
Regional analysis of EPCOS’ sales reflects significantly weaker sales to automotive and industrial electronics customers, especially in Germany and the rest of Europe. Sales in Germany were down nearly 30 percent year on year, while sales in the rest of Europe declined by around 25 percent in the same period. By contrast, sales in Asia increased by more than 10 percent, largely due to positive business development with local mobile phone manufacturers and EPCOS Feida's contribution. In the NAFTA region, year-on-year sales remained practically stable.
