AZ Electronic Mtrls (AZEM) - Interim Management Statement RNS Number : 4744P AZ Electronic Materials S.A. 25 October 2012 25 October 2012 AZ ELECTRONIC MATERIALS S.A. Interim Management Statement AZ Electronic Materials S.A. ("AZ" or "Group") today publishes its Interim Management Statement forthe periodfrom1 Julyto24 October 2012. Unless otherwise indicated, the unaudited financial information, stated in US dollars, is for the three month period to 30 September 2012 ("Q3"), as compared to the corresponding period last year. Summary and outlook AZ confirms that trading conditions during Q3 were consistent with those anticipated at the time of our 2012 half-year results, announced on 23 August 2012. Current trading in October shows that overall the business is performing in line with our expectations, which for the 2012 full year are unchanged. AZ made solid progress in the period against the backdrop of an uncertain macroeconomic environment. Group revenue in Q3 increased by 1% year-on-year to $203.5m (Q3 2011: $202.0m), and on a constant currency basis was up 4% on Q3 2011. Group revenue for the nine months ended 30 September 2012 was $587.1m, down 1% from the same period last year (flat at constant currencies). The Group's EBITDA margin in Q3 was in line with our expectations. Divisional information and financial position The divisional mix of revenue in Q3 was in line with our expectations. In the IC Materials division, revenue in Q3 decreased by 3% year-on-year to $135.4m (Q3 2011: $140.2m), and on a constant currency basis was flat against Q3 2011. As expected, certain customers in the memory sector undertook modest wafer capacity reductions in the third quarter, causing some short-term variation in the pattern of demand for AZ's materials. Revenue for the nine months ended 30 September 2012 was $401.2m, down 2% from the same period last year (down 1% at constant currencies). The Optronics business made good progress in the third quarter of 2012, driven by improved trading conditions in the global flat panel industry and recent customer wins in Taiwan and Japan. Revenue in Q3 increased by 11% year-on-year to $63.2m (Q3 2011: $57.0m), and on a constant currency basis was up 14% on Q3 2011. Revenue for the nine months ended 30 September 2012 was $171.3m, up 3% from the same period last year (up 4% at constant currencies). In our Printing and Other division, revenue in Q3 increased by 2% year-on-year to $4.9m (Q3 2011: $4.8m), and on a constant currency basis was up 14% on Q3 2011. Revenue for the nine months ended 30 September 2012 was $14.6m, down 17% from the same period last year (down 11% at constant currencies). Netdebt at30 September 2012 was $305.4m, a reduction of $24.1m since 30 June 2012, reflecting the Group's continuing strong operating cash generation. The Group retains a healthy financial position with a strong balance sheet. The Group continues to focus on product innovation and strong cash generation that will enable it to take full advantage of the long term structural growth of its end markets. ENDS For further information, please contact: AZ Majid Nazir, Head of Investor Relations Tel +44 (0) 20 8622 3825 FTI Consulting Edward Bridges / Nick Hasell Tel +44 (0) 20 7269 7147 The Company will host a conference call for analysts at 8.30am (BST) today: Dial-in: +44 (0) 1452 562 815. Please quote "AZ Electronic Materials" to gain access to the call. ______________________________________________________________ Cautionary statement regarding forward-looking statements This announcement may contain certain forward-looking statements with respect to the operations, performance and financial condition of the AZ Group. These statements are made in good faith and are based on current expectations and beliefs, as well as assumptions about future events. By their nature, future events and circumstances can cause results and developments to differ materially from those anticipated. Except as required by the Listing Rules and applicable law, the Company undertakes no obligation to update any forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast or an invitation to deal in the securities of the Company. Editor notes www.azem.com AZ is a leading global producer and supplier of high quality, high-purity specialty chemical materials, operating in the high growth electronics market. Its materials are widely used in integrated circuits ("ICs") and devices, flat panel displays ("FPDs"), light-emitting diodes ("LEDs") and photolithographic printing. AZ is a critical partner to the leading global electronic players because our chemical technology allows them to enhance existing processes and enables them to innovate new products. This is critically important in the "digital world" where there is increasing global demand and a drive towards smaller, faster, more powerful and less expensive technology. AZ operates in 10 countries, namely China, India, South Korea, Taiwan, Hong Kong, Japan, Singapore, the USA, France and Germany. It also has corporate and support services offices in Luxembourg, the UK and Hong Kong, and employs over 1,000 people globally. This information is provided by RNS The company news service from the London Stock Exchange END IMSMMMZGVDDGZZM -0- Oct/25/2012 06:00 GMT
Axis Capital & PartnerRe to Combine in $11 Billion Merger
AZ Electronic Mtrls AZEM Interim Management Statement
Press spacebar to pause and continue. Press esc to stop.