EANS-Adhoc: ams AG / ams reports first quarter results ahead of revenue guidance and showing over 500 bp year-on-year EBIT margin increase; publishes Annual Report 2013

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Financial Figures/Balance Sheet/3-month report
28.04.2014

Key financial data for the first quarter 2014

Unterpremstaetten, Austria (28 April 2014) - ams (SIX: AMS), a
leading provider of high perfor-mance sensors and analog ICs,
recorded quarterly revenues ahead of guidance for the first quarter
2014, while operating profitability (EBIT margin) increased
substantially by over 500 bp year-on-year. Given high run rates for
new products, ams expects considerable quarter-on-quarter growth and
further growth in operating profitability in the second quarter 2014.

First quarter group revenues were EUR 86.3 million, 2% higher than in
the same quarter 2013 (4% higher in constant currency terms), and 17%
lower quarter-on-quarter. Gross margin was 56%, excluding
acquisition-related amortization, and 54%, including
acquisition-related amortization compared to 54%, excluding
acquisition-related amortization, and 51%, including
acquisition-related amortization, in the first quarter 2013.

The result from operations (EBIT) for the first quarter was EUR 15.4
million or 18% of revenues, up 47% from EUR 10.5 million in the same
period 2013. The first quarter net result was EUR 14.7 million
compared to EUR 9.9 million in the same period 2013. Basic/diluted
earnings per share were CHF 1.32/1.26 or EUR 1.08/1.04 based on
13,547,542/14,177,959 shares (average; basic/diluted), up from CHF
0.91/0.87 or EUR 0.74/0.70 based on 13,410,605/14,077,837 shares
(average; basic/diluted) in the first quarter 2013. Total backlog,
excluding consignment stock agreements, was impacted by shortened
order lead times in Consumer and Communications and stood at EUR 85.5
million on March 31, 2014, up from EUR 76.6 million on December 31,
2013 and EUR 77.4 million on March 31, 2013. Operating cash flow for
the first quarter was EUR 14.3 million compared to EUR 13.7 million
in the first quarter 2013.

ams' business showed positive results in the first quarter given a
good performance of key end markets and the company's leading
position in high performance sensor and analog solutions for
demanding applications.

In Consumer and Communications, ams started shipping its innovative
gesture sensor module in mass production volumes in the first
quarter. The module combines RGB color and proximity sensing with
mobile coupon redemption and advanced gesture recognition for mobile
device applications. ams is already seeing very high run rates for
this product supplying major Asian smartphone OEMs. At the same time,
high volume shipments of the company's other intelligent light
sensors and MEMS microphone drivers to large smartphone and mobile
device OEMs continued at an attractive pace.

Within its wireless product range ams is gearing up for large scale
customer projects using the company's NFC solutions, namely its
antenna boost products which enable seamless transactions in the
smallest form factors available. ams expects the trend of NFC
adoption in smartphones to accelerate in 2014 driving high volume NFC
shipments and profitable growth for the company and confirming ams'
strong position in NFC hardware solutions. As the company develops
the next generation of NFC products ams continues to be agnostic
toward the physical position of the NFC secure element which may be
embedded into the device, integrated into a SIM card or accessed in
dematerialized form over the network.

ams' industrial and medical business performed well in the first
quarter. The demand environment in industrial end markets continues
to be positive supporting growth of the company's industrial product
lines. ams supplies dedicated sensors and sensor interfaces into a
broad range of industrial applications worldwide. ams' medical
business remains focused around the company's sensor solutions for
digital imaging, which includes leading edge computed tomography
(CT), mammography, digital X-ray and ultrasound.

The company's automotive business also had a good start into the year
and sees continuing healthy demand for its sensor and sensor
interface solutions in 2014. ams products will be included in
additional vehicle platforms this year so that even more critical
safety and control systems rely on ams' sensor expertise to provide
higher levels of safety and reliability. Based on its pipeline of
automotive design-ins, the company continues to anticipate its
automotive business delivering attractive growth in the years to
come.

For the second quarter 2014, ams expects strong sequential and
year-on-year revenue growth with revenues of EUR 100-105 million in
the current exchange rate environment. High volume shipments for new
Consumer and Communications products are expected to drive this
growth. ams sees profitability continuing to increase in the second
quarter and expects EBIT margin to expand further by more than 150 bp
quarter-on-quarter.

ams feels confident about the positive development of its business
through 2014 given its product and design-in pipeline for
smartphones, mobile devices, industrial, medical, and automotive
systems. The company's focus on sensor solutions offers a wealth of
opportunities supporting ams' longer term outlook for continued
growth in revenues and profitability in the coming years.

The company's first quarter report 2014 including additional
financial information is available on the company website at
http://www.ams.com/eng/Investor/Financial-Reports . Concurrently, ams
has published the Annual Report 2013. The Annual Report is also
available on the company website at
http://www.ams.com/eng/Investor/Financial-Reports .

Further inquiry note:
Moritz M. Gmeiner
Director Investor Relations
Tel: +43 3136 500-31211
Fax: +43 3136 500-931211
Email: investor@ams.com

end of announcement euro adhoc
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issuer: ams AG
Tobelbader Strasse 30
A-8141 Unterpremstaetten
phone: +43 3136 500-0
FAX: +43 3136 500-931211
mail: investor@ams.com
WWW: www.ams.com
sector: Technology
ISIN: AT0000920863
indexes:
stockmarkets: official dealing: SIX Swiss Exchange
language: English