DORTMUND (dpa-AFX) - The semiconductor company Elmos Semiconductor has started the new year with an increase in sales and earnings. Elmos exceeded analysts' expectations. In the first three months of 2024, revenue rose by 4.5 percent year-on-year to 136.8 million euros, as the chip company announced in Dortmund on Tuesday. Operating earnings before interest and taxes (EBIT) increased by 6.4 percent to 33.8 million euros. At the bottom line, the profit attributable to shareholders rose by almost a fifth to 24.6 million euros.

The company confirmed its annual targets for the current year. Turnover is expected to reach 605 million euros, plus or minus 25 million euros. The company is forecasting an EBIT margin of 25 percent, plus or minus 2 percentage points. The earnings forecast does not include the planned sale of wafer production to the US group Littelfuse, which is expected to be completed in December. In 2023, the semiconductor company had achieved earnings of 575 million euros and a margin of 26.2 percent./mne/stk