TRONICS : RESULTS FOR THE FIRST HALF OF FISCAL 2017

Grenoble, France – September 27, 2017 – Tronics, a TDK Group Company that designs and manufactures innovative nano and microsystems, listed on Euronext Growth at Paris (ISIN code: FR0004175099 - ALTRO), has announced its results for the first half of fiscal 2017. The half-year financial report has been made available to the public today.

Tronics' Management Board met on September 26, 2017 and approved the accounts for the first half of fiscal 2017 (January 1 to June 30), which were presented to the Supervisory Board on the same day.

Consolidated first-half results of fiscal 2017 (January 1 to June 30)


in €K (IFRS) – unaudited
H1 2017
H1 2016


Revenue
2,904
3,062


Operating profit/(loss)
(3,501)
(2,405)


Financial result
(103)
14


Net income/(loss), Group share
(3,512)
(2,555)

Revenue for the first half of 2017, which stand at around €3.0M, is almost stable compared to the revenue in the first half of fiscal 2016, despite the transfer of the manufacturing activities at Dallas to a new production facility. This temporary slowdown of activities in the United States has been compensated by a sustained growth in France, at Crolles, in both manufacturing and engineering.

Revenue from manufacturing activities increased by 15% to €1.3M versus €1.1M in the first half of 2016. This increase is sustained by the growth of the activity for optical components at Crolles, and the production ramp up of the high-performance inertial products. Engineering revenue totaled €1.7M (versus €2.0M in the first half of 2016).

During the first half of 2017, structural charges have significantly increased, due to headcount increases in France and the United-States, and the move of the American production facility.

In parallel, Tronics maintained its R&D investments, which stand at €0.9M, principally regarding the programs named STARS (Smallest Tactical AccelerometerS) to develop a MEMS accelerometer block, and TRACE (Technology ReAdiness Process for Consumer) to accelerate the transfer of consumer electronic products deriving from Magelan and M&NEMS technologies to the automotive industry.

Trends and outlook

The Group's priority in 2017 remains to complete its engineering projects and to launch the production of innovative products in the inertial, life sciences and high value-added industrial applications sectors. Tronics also intends to pursue its growth strategy and increase the part of its production revenue into the total Group sales.

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About Tronics Microsystems

Tronics Microsystems is a division of TDK's Temperature & Pressure Sensors Business Group and a recognized technological leader in the sector of nano- and microsystems. Addressing high-growth markets relying on increasing miniaturization of electronic devices, the company provides custom and standard products especially to the industrial, aeronautics, security, and medical markets. Founded in 1997, Tronics is located in Crolles, near Grenoble (France) and in Dallas, Texas (United States), and has around 100 employees, most of them engineers and scientists. Following a tender offer ending January 2017, EPCOS AG, a TDK Group Company, now holds 74 percent of Tronics' shares.

* ISIN code: FR0004175099 ALTRO

About TDK Corporation

TDK Corporation is a leading electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's portfolio includes passive components, such as ceramic, aluminum electrolytic and film capacitors, ferrites and inductors, high-frequency products, and piezo and protection components, as well as sensors and sensor systems and power supplies. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK's further main product groups include magnetic application products, energy devices, and flash memory application devices. TDK focuses on demanding markets in the areas of information and communication technology and automotive, industrial and consumer electronics.
The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2017, TDK posted total sales of USD 10.5 billion and employed about 100,000 people worldwide.

Source: Actusnews