Micron Key fig

Micronas Group
Key figures at a glance
Micronas Group
Portrait in brief
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Micronas is an internationally active semiconductor group with holding company headquarters in Zurich (Switzerland). The group develops, manufactures and
markets integrated circuits and sensors for the consumer electronics, multimedia
and automotive electronics industries. The Micronas strategy is to continue expanding its position as a worldwide semiconductor supplier providing video,
sound, data and sensor technology, as well as to use new technological developments to exploit opportunities for long-term business success.
Micronas Group’s operational center is located in Freiburg im Breisgau (Germany). Production and the coordination of sales and marketing activities are concentrated there. Research and development are located in Freiburg im Breisgau
and Munich/Villach. Micronas also has a test center in Scotland and an in-house
sales network throughout Europe, the USA and Asia.
The Micronas Group goes back to 1989. After the company was floated on the
Swiss Stock Exchange in 1996, since 1999 its shares have also been listed on the
Neuer Markt in Frankfurt. Micronas currently employs around 1 400 people.
ANNUAL REPORT
Net sales
Net profit
Capital expenditures
Research and development expenses
Shareholders’ equity
Equity ratio in %
Cash flow from operating activities
Earnings per share
Equity per share
2000
1999
2000
1999
CHF 1000
CHF 1000
EUR 1000
EUR 1000
314
40
89
29
144
207
15
33
21
98
490
63
138
46
220
319
460
752
507
437
25.3
92 604
29.71
103.20
332
24
54
34
158
653
821
353
765
024
37.4
82 185
13.29
74.50
973
766
132
875
796
25.3
59 487
19.08
67.79
610
491
922
697
476
37.4
51 292
8.29
46.43
Micronas Group
Key figures at a glance
Micronas Group
Portrait in brief
00
Micronas is an internationally active semiconductor group with holding company headquarters in Zurich (Switzerland). The group develops, manufactures and
markets integrated circuits and sensors for the consumer electronics, multimedia
and automotive electronics industries. The Micronas strategy is to continue expanding its position as a worldwide semiconductor supplier providing video,
sound, data and sensor technology, as well as to use new technological developments to exploit opportunities for long-term business success.
Micronas Group’s operational center is located in Freiburg im Breisgau (Germany). Production and the coordination of sales and marketing activities are concentrated there. Research and development are located in Freiburg im Breisgau
and Munich/Villach. Micronas also has a test center in Scotland and an in-house
sales network throughout Europe, the USA and Asia.
The Micronas Group goes back to 1989. After the company was floated on the
Swiss Stock Exchange in 1996, since 1999 its shares have also been listed on the
Neuer Markt in Frankfurt. Micronas currently employs around 1 400 people.
ANNUAL REPORT
Net sales
Net profit
Capital expenditures
Research and development expenses
Shareholders’ equity
Equity ratio in %
Cash flow from operating activities
Earnings per share
Equity per share
2000
1999
2000
1999
CHF 1000
CHF 1000
EUR 1000
EUR 1000
314
40
89
29
144
207
15
33
21
98
490
63
138
46
220
319
460
752
507
437
25.3
92 604
29.71
103.20
332
24
54
34
158
653
821
353
765
024
37.4
82 185
13.29
74.50
973
766
132
875
796
25.3
59 487
19.08
67.79
610
491
922
697
476
37.4
51 292
8.29
46.43
Yves Netzhammer
born 1970; lives and works in Zurich.
The relationships between nature, technology and the human spirit, between natural, man-made and imaginary realities, are an eternal riddle which confronts us
on the boundary between the present and the future. The artist Yves Netzhammer
moves along that boundary and gives the riddle form. He captures it in images
and shapes which are aesthetic, and yet at the same time could hardly be more
modern in their making. Not that these digitally generated images claim to solve
the riddle once and for all. They make no promises. They open up a horizon of
thought and imagination onto which we can project designs and models, desires
and expectations of what lies ahead. That is why Netzhammer never shows stills
or freeze-frame shots, but always processes. Each of his visions tells a story
which is complete in itself, yet has a continuation in every other story. The processes gradually mesh to form complex programs; the stories merge into a rich
mythology of the near future in which the natural, the technical and the imaginary are superimposed without contradicting one another. In this way they represent a formulation of the riddle as it stands at the beginning of the 21st century.
In this sense, every one of Netzhammer’s pictures is a sign of our times, the
product of a creative dialogue with contemporary technology, art and graphic
design. His works have their place wherever the future begins: wherever the great
narratives of innovation and invention are unfolding.
In a figurative sense, Micronas, as a high-tech enterprise, sees itself permanently confronted by this complex parallelogram of forces. In its response to technological challenges and through the development of countless system solutions
over the years, the Micronas Group has been steadily building its “intellectual
property.”
Key figures
Letter to shareholders
Front flap
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MICRONAS IN THE MARKET
High-grade products for high-growth markets
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Consumer Division
Comprehensive product portfolio
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Audio
Video
Set-top boxes
Multimedia
Satellite radio
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Automotive Division
System solutions for automobiles
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Controllers
Hall sensors
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MICRONAS IN THE YEAR UNDER REVIEW
Strengthening our market position
Strong increase in sales and profit
Expansion of the video business
Long-term financing
Major research and development effort
Further capacity expansion for wafer production
New technologies
Management system for environmental protection
Development of the employee base
Comprehensive quality management
Successful consumer business
Success in the automotive business
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MICRONAS PROFILE
Five-year comparison
Key share data
Management structure and governing bodies
Subsidiaries and participations
Micronas Group management
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Glossary
Addresses
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Portrait in brief
Back flap
To our shareholders
Ladies and Gentlemen
The Micronas Group produced another outstanding and dynamic performance
in 2000. All the key performance indicators showed strong gains. Micronas’ incisive strategy, based on market leadership in selected high-end semiconductor
systems for consumer goods and automotive applications, continued to bite
throughout the year.
Thanks to our market-oriented research and development efforts in 2000 we consolidated our position in our target markets, which are characterized by short
product life-cycles and rapid technological advances.
The takeover of the Image and Video division of Infineon Technologies in the
autumn of 2000 was part of Micronas’ strategic thrust. This acquisition complements the Group’s technology and product portfolios and strengthens our core
competencies and market leadership in the fast-growing multimedia markets.
We invested CHF 380 million in acquiring this highly profitable business with
good prospects for future growth. In the year under review, Group sales rose by
47.4 percent to CHF 490.3 million, of which CHF 59.5 million was contributed
by the newly acquired Image and Video division. The operational cash flow was
CHF 92.6 million. The net profit for the year more than doubled to CHF 63.5 million, representing a return on net sales of 12.9 percent. Earnings per share in
2000 were CHF 29.71, compared with CHF 13.29 the previous year. The shareholders’ equity of the Micronas Group was CHF 220.4 million at year-end 2000,
compared with CHF 158.0 million in 1999.
At our waferfab plant in Freiburg (Germany), a two-phase capacity upgrade, begun in May and September 2000, is going according to plan. The new marketing
organization, reinforced by Image and Video, is being expanded continually to
improve our responsiveness to customers’ needs through closer cooperation.
Spending on research and development increased to CHF 46.5 million in the
reporting year, compared with CHF 34.8 million in 1999.
As a result of the strong growth of our business activities, the number of our
employees increased by around 19 percent to 1466. We can be proud of the professionalism and commitment of the people who work for the Micronas Group.
In our highly demanding and competitive business environment, only those
who have comprehensive systems know-how, excellent market intelligence and
unique products will survive and prosper.
On behalf of the Board of Directors and management we would like to thank our
employees for their contribution to the success of the company and our shareholders for their confidence.
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Dr. Franz Betschon
Chairman
Dr. Wolfgang Kalsbach
CEO
MICRONAS IN THE MARKET
HIGH-GRADE PRODUCTS
FOR HIGH-GROWTH
MARKETS
The environment in which Micronas is active is characterized by above-average growth rates and short product lifecycles, high levels of investment and very rapid technological
change. Our core assets, which have allowed us to achieve
solid market positions in specific applications areas, consist
of broad-based systems know-how, an intimate knowledge
of the target markets, as well as our sophisticated products
themselves.
We focus on promising, high-growth semiconductor applications in the high-end consumer electronics and automotive sectors. We have successfully established ourselves in
the global marketplace as an independent manufacturer of
microchips, which has demonstrated a consistent ability to
transform our visions into benefits for our international customer base. Our product concepts are uncompromisingly
based on the recognition that classic consumer electronics
is converging with computer technology and the new media
and that system solutions in the area of automotive instrumentation and control have more and more in common with
consumer electronics applications.
We research and develop products in close cooperation with
our customers and also maintain close contacts with academic research institutions. This enables us to identify promising trends just as they are beginning to emerge. Each year,
we add 25 to 30 new inventions to our IP portfolio. Micronas
is a first-mover in the definition of new markets.
Our sales and applications organization is networked across
the world and has its operational center in Freiburg im Breisgau (Germany). We are continually expanding this network
as well as augmenting it with independent distributors and
agents.
The takeover of the successful Image and Video business of
Infineon Technologies last autumn was a milestone in the
expansion of our technology base. This acquisition represents a decisive step forward in the expansion of our consumer electronics business. For the Micronas Group, it is a
complementary investment in technology and products, reinforcing our market leadership in key areas of competence
in the high-growth multimedia markets.
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COMPREHENSIVE
PRODUCT PORTFOLIO
Consumer Division The Consumer Division is one of two
core business units at Micronas. It produces integrated circuits (ICs) which are used to process video, audio and other
data in consumer electronics products. Micronas’ customers
throughout the world include all the major manufacturers of
TV equipment, radios, satellite receivers, PCs, and other consumer goods.
AUDIO
Micronas offers a comprehensive range of fully compatible audio processors for
various TV and VCR applications in the mid- and high-end market segments.
These segments represent more than 50 percent of all TVs manufactured throughout the world and about 25 percent of all VCRs.
Our current product range covers all the common analog and digital TV audio
standards. Micronas is the world’s only manufacturer to offer an integrated solution that combines all existing audio standards in a single audio processor.
Dolby Digital audio processing gives consumers a new standard in audio quality. Manufacturers can easily integrate this audio system into their existing TV
equipment architecture. Compared with the competition Micronas has the most
wide-ranging, highest performing product portfolio in the audio segment.
In the reporting year we sold approximately 33 million Multi Sound Processors
(MSPs).
Micronas’ strategy of offering global applicability throughout its audio product
family has proved extremely successful in the marketplace. By the end of 2000,
over 100 million Micronas MSP audio processors were sold for multichannel
television audio or simulated surround sound (Dolby Prologic Surround, Virtual
Dolby Surround). In the European TV market we achieved a market share of
about 80 percent with such processors. Globally, our penetration is probably
about 40 percent of the total market.
Micronas works closely with its customers to define market requirements at an
early stage in development. This enables us to play an important part in shaping
new trends at critical points. Utilizing our broad range of audio processors, TV
and VCR equipment manufacturers can always select a combination of audio
functions (such as base, treble, volume, surround sound, Virtual Dolby Surround
and graphic equalizer) and audio standards that precisely meet their needs.
In the Advanced Audio market attention is still focussed on the penetration of the
MP3 player. MP3 is currently the world’s most widely used standard for compression of digital audio signals. The MP3 player represents a new generation of
consumer audio equipment that thrives on the tremendous growth of personal
computer use and the rapid spread of the Internet.
The Advanced Audio applications (MP3) chip, introduced by Micronas two-anda-half years ago, is now widely used in portable audio players. These devices,
based on nonvolatile semiconductor memories, systematically exploit the advantages offered by the PC and the Internet. System advances have led to
attractive hybrid devices that can be used for playing music and for digital voice
recording. Some MP3 expansion units for existing devices have already established themselves. They offer MP3 functions for mobile phones, talking-book
devices, as well as equipment for the toys market.
Micronas’ strategy is to gain access to a number of different markets whenever
it develops custom chipsets and compression technologies. Wearable audio
players – based on flash memory and hard disk technology – MP3 CD players
and voice recording devices are already on the market. In the future, Micronas
will also offer solutions for high-audio-quality digital recorders.
To protect the interests of the music industry, the Secure Digital Music Initiative
(SDMI) was launched at the beginning of 1999. This was followed in 2000 by the
SD Card Association, which establishes standards for data media copy protection. Micronas supports both these interest groups and is implementing their
standards in its new products. We are also continuously developing products for
new audio standards such as Advanced Audio Coding (AAC), an extremely fastgrowing market.
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VIDEO
Micronas offers compatible components for a wide range of requirements. Our
“product family” concept provides manufacturers of television sets with a single
development that covers a number of different equipment classes as well as all
television standards.
Micronas offers complete systems solutions for TV manufacturers who do little
or no product development work of their own. In the years ahead, Micronas will
systematically integrate more and more functions into its components in order
to strengthen its market position in the consumer video sector. This will allow us
to adapt to new transmission methods and display technologies.
Products
Micronas’ video products handle complete video signal processing. This allows
the TV set to receive and display all kinds of signals. In addition to standard functions such as brightness, contrast and color saturation, synchronization and
scanning, countless image-enhancement functions are integrated into the modules. These products can be used throughout the world in all television set
classes.
SET-TOP BOXES
The term set-top boxes (STBs) refers to TV receivers that are not equipped with
their own screens or speakers and are therefore used in combination with a television set. Such set-top boxes allow existing TV sets to operate with new transmission technologies (such as satellite or cable), new transmission standards
(such as digital transmission) or pay TV.
Besides traditional analog transmission of video and audio information, the
future will increasingly see pure digital transmission of TV signals via cable networks, broadcast transmitters and satellites. In time, digital transmission technology is expected to supersede analog technology completely.
The STB market is currently dominated by satellite boxes for analog TV or digital pay TV. While we are already seeing signs of initial saturation in satellite pay
TV in the industrialized nations (particularly the USA), this technology is just
beginning to take off in the newly emerging nations.
Micronas is pursuing a strategy of integrating into STBs the audio and video
products that are already used in high volumes in TV sets. The characteristics of
these integrated circuits (with IC-internal digital signal processing) make them
very attractive, especially during the transition phase from analog to digital TV
standards. Such ICs already offer digital interfaces for hybrid STBs and allow the
STB function to be integrated cost-effectively directly in the television set.
Products
Digital television is opening up new business opportunities for Micronas in the
area of set-top boxes and multimedia PCs. These units convert the new digital
transmission data into signals that can be processed or displayed by conventional equipment. Thanks to their hybrid analog/digital architecture, Micronas
products are extremely well suited to combined processing of “old” and “new”
media. Our offering includes products for audio processing, receiving digital
radio signals and decoding analog video and data signals (such as Teletext). A
number of large manufacturers in the USA use high volumes of Micronas audio
and video products. Compared to the TV market, product cycles in this sector
and required delivery lead times are much shorter.
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MULTIMEDIA
High-speed bus systems, standardized interfaces and modern operating systems
permit high-performance processing of audio and video data in conventional
PCs. The PC’s modular design allows the end-user to add additional functions,
either directly upon purchase or as subsequent upgrades.
More and more new PCs are multimedia-capable. This means they can receive,
process or reproduce audiovisual information. Analog signals have to be converted into a digital format before they can be processed in a PC. Based on its
long experience as a supplier to TV set manufacturers and as a manufacturer of
integrated circuits for the television industry, Micronas offers a full family of ICs
for receiving and processing TV signals in PCs. The latest TV tuner cards use this
system and also offer surround sound (Dolby Pro Logic Surround, Dolby Virtual
Surround).
The USB standard (Universal Serial Bus) is starting to dominate the multimedia
market. Eventually, all PC input/output devices such as mice, keyboards, modems or speakers will use the same connectors and will therefore be very easy
to install.
The broad acceptance of the USB standard suggests that it will last. Micronas’
USB chip provides the foundation for an entire family of USB audio components.
Additional enhancements include multichannel audio such as Dolby Digital, or
adaption of PCs to work with consumer audio equipment by adding a digital
audio interface.
Micronas has developed an interface module for USB applications that allows
digital audio signals to be passed directly to the speakers via the USB bus. By
using digital signal processing, the chip is able to implement various features
such as equalization, adaptive base enhancement or active frequency modulation. This development aims mainly at the market for PC speaker accessories.
The chip can also replace the PC’s sound card, which makes it attractive to PC
manufacturers.
SATELLITE RADIO
In 1990 the US company WorldSpace was founded with the aim of providing a
comprehensive multimedia information and entertainment platform for developing and emerging countries with little or no access to modern mass media.
These programs are broadcast by satellite so reception should be possible just
about everywhere. The company has already taken the first step, broadcasting
radio programs via digital satellite radio.
For more than two years the WorldSpace “Afristar” satellite has been broadcasting information and entertainment programs to the African continent. Micronas
supplies a special chipset used to receive the digital information to three of the
four Japanese radio manufacturers involved in the project. Launch of the second
satellite, “AsiaStar”, took place in mid-2000. This opened up an additional attractive sales market.
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SYSTEM SOLUTIONS FOR
AUTOMOBILES
Automotive Division The Automotive Division develops and
produces microchips used in a multitude of automotive applications. Such chips are increasingly replacing mechanical
components and permit additional functions to be integrated into the vehicle. Micronas’ customers are primarily systems suppliers to the automotive industry.
The Automotive Division comprises two product lines: controllers for use in electronic car instrumentation and Hall
sensors for engine management, ride control and safety and
comfort systems.
New product developments are further increasing the existing synergies between the Consumer and Automotive divisions.
CONTROLLERS
Our microprocessors for electronic instrumentation (“dashboard controllers”)
permit a wide range of functions to be displayed in the vehicle. A large number
of control displays are integrated on a single Micronas chip. The proportion of
electronic instrumentation in vehicles is increasing steadily, which augurs well
for market growth. In 2001 it is estimated that the average vehicle will have
USD 220 worth of semiconductors. Currently, more than 60 percent of all vehicles produced throughout the world are equipped with electronic instrumentation. The market is extremely demanding in respect of product quality and the
supply capabilities of component vendors. Although automotive products are
long-lived, competitiveness is governed by short innovation cycles.
Micronas collaborates with systems suppliers on research and development projects. This helps us identify market needs and requirements early on. From the
very outset, Micronas designs its products so that they can be adapted to changing requirements with a minimum of effort and expense.
Our interior concept for vehicles is based on generating benefits for systems
suppliers. Large systems manufacturers have to derive synergies from their
sheer size. At the same time, they have to keep their products flexible and adaptable, since every vehicle manufacturer has its own individual needs. The interior
concept developed by Micronas offers a high degree of flexibility relative to
functionality and costs, and it integrates various function modules found in the
interior. At the same time, it provides total compatibility.
For our customers, this means that developments can be retained and reutilized,
which substantially reduces the time and effort required to adapt the system to
new requirements.
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This concept enables us to connect Micronas’ two areas of competence: Automotive and Consumer. For example, our know-how in developing functional
modules for TV manufacturers can also be applied to automotive applications.
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Products
Micronas controllers are used in car instrumentation. By implementing several
functions on one chip – e.g. indicators for speed, revolutions per minute, maintenance intervals and fuel consumption – Micronas meets car manufacturers’
demands for space-saving solutions. The components are designed in such a
way that Micronas can take account of changes requested by the customer right
up to the start of production.
HALL SENSORS
Hall sensors are used to detect magnetic fields by converting them into electrical signals. There are two types of application for Hall sensors: measurement of
electrical currents, and detection of mechanical movements and positions without mechanical contact. The Hall sensors themselves are extremely small, which
means they are easy to install, even at hard-to-access locations.
The most important market for Micronas Hall sensors is the automotive industry.
The sensors are already used in numerous applications such as power windows,
windscreen wiper systems, camshaft sensors, lamp monitors, active ride control, ABS, power seat and mirror adjustment, fluid level sensors, power sun
roofs and speed sensors. The trend in automotive electronics is toward decentralized, networked subsystems. These require electronic sensors combined with
integrated intelligent functions.
Beyond these applications, Hall sensors are also found in a large number of industrial and consumer applications.
Products
Micronas currently offers seven different families of Hall sensors covering a
wide range of automotive sensor applications. Since each family has several
variants with different magnetic characteristics, Micronas has the right product
for virtually any application.
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MICRONAS IN THE YEAR UNDER REVIEW
STRENGTHENING OUR
MARKET POSITION
In the reporting year, the Micronas Group succeeded in
strengthening its position in key markets and consolidating
or further increasing its leadership in specific segments. In a
dynamic market environment, the strategic orientation toward high-end semiconductor systems for the consumer
goods and automotive industry again proved successful in
2000.
Strong increase in sales and profit
Consolidated net sales grew strongly, rising from CHF 332.7 million in 1999 to
CHF 490.3 million in the year under review. This represents an increase of 47.4
percent.
Of this growth, CHF 59.5 million was contributed by Image and Video, included
in the scope of consolidation since 1 October 2000. Organic growth was 29.5 percent.
Both core businesses contributed to the increase in sales. The Consumer Division generated net sales of CHF 414.3 million in 2000, up 57.9 percent on the
1999 figure of CHF 262.3. This amounted to 84.5 percent of total Group sales for
the year under review.
In the reporting year, the Automotive Division contributed CHF 76.0 million to
overall Group sales, compared with CHF 70.3 million the previous year. This
represents a year-on-year growth of 8.1 percent. The division’s contribution to
overall sales by the Micronas Group was 15.5 percent.
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.0
Consumer
Automotive
Sales by markets
41
4 .3
24
in CHF million
25
Europe
Asia
USA
Other
10.9
1 1 9. 0
.0
53
Sales by region
3 07
.4
A geographical breakdown of sales (cf. chart on page 25) shows Europe is still
Micronas’ biggest market. With sales growing by 47.4 percent, the total for this
region was CHF 307.4 million. Sales in the US market increased in the reporting
year from CHF 27.5 million to CHF 53.0 million, a 93.0 percent increase. In Asia,
the Group achieved a year-on-year sales growth of 32.5 percent, from CHF 89.8
million to CHF 119.0 million. Asia’s share in total Group sales in 2000 was 24.3
percent.
The growth in earnings in 2000 was even more marked than in the previous year.
Net profit for the year of CHF 63.5 million represented a 155.7 percent improvement on the 1999 performance. Of the excellent operating profit of CHF 99.5 million, CHF 85.4 million was generated by the Consumer Division and CHF 16.3 by
the Automotive Division; other activities accounted for a loss of CHF 2.2 million.
The reported operating profit included nonrecurring profit of CHF 14.7 million
from the sale of the participating interest in Micro Analog Systems, Espoo (Finland), as well as profit from the writeback of reserves for completed restructuring projects and other nonrecurring profit. The operational cash flow was
CHF 92.6 million, representing year-on-year growth of 12.7 percent.
Expansion of the video business
The acquisition of the Image and Video business in the autumn of 2000 represents a significant gain in value for the Micronas Group.
Image and Video extends the Group’s activities to two new locations, Munich and
Villach, where ICs for consumer electronics applications are developed. Munich
is also a new stronghold for the sales and marketing organization.
As a result of the acquisition, Micronas has a significantly broader, more rounded
portfolio of products, know-how and development resources in the consumer
sector.
Long-term financing
The acquisition of the Image and Video business from Infineon Technologies
required an investment of CHF 380 million. The purchase price was settled in
cash, financed through a loan from a bank consortium led by Credit Suisse First
Boston, as well as from our own resources. The credit will be repaid by own
funds raised through a capital market transaction which the Extraordinary Shareholders’ Meeting approved on 17 November 2000.
Major research and development effort
In the reporting year, we spent CHF 46.5 million on research and development,
compared with CHF 34.8 million in 1999. R & D expenditure as a percentage of
sales was 9.5 percent compared with 10.4 percent the previous year.
The switch of Micronas’ key products to the new 0.5µ semiconductor process is
largely completed and some of the high-volume products have already been
implemented on even smaller structures (0.45µ). Thanks to the capabilities of this
higher performance technology, we were able to expand our know-how and
create a stream of highly effective new products in all areas of activity.
In view of the forthcoming move to digital transmission processes and the growing significance of graphics functions, the first member of a new family of highperformance microcontrollers (ARM™) was introduced by Micronas. On this
basis, the first products based on our future 0.25µ technology are currently being
developed for the automotive sector.
The smaller dimension of the new semiconductor technologies will allow additional system functions to be developed, for example “on-chip” handling of
higher frequency ranges. At the same time, it will enable us to provide further
cost benefits to our customers.
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The challenge in the year ahead is to combine the technologies of Micronas and
Image and Video, which have a high degree of functional complementarity, to
create an effective family of products, covering the whole spectrum of TV applications from high-volume analog TV equipment to the complex functions of the
new digital TV transmission standards. At the same time, the ongoing development of the products will be secured by appropriate foundry technologies.
Further capacity expansion for wafer production
Building work on the extension of our waferfab plant in Freiburg, which started
in May 2000, was on schedule at all stages of construction. The clean room was
qualified in October 2000. The production equipment for the first step in the upgrade, which will increase capacity by 15 percent, was delivered and installed on
schedule. Volume production will begin in the second quarter of 2001.
Preparations for a second stage in the expansion program, introducing a new
production line with 8-inch wafers, are complete. The equipment will be delivered in the first quarter of 2001, and the plant is due to come on stream at the
end of 2001.
New technologies
As of the third quarter of 2000, we have been producing wafers using the new
0.45µ technology. This refinement of the existing 0.5µ technology allows up to
20 percent more microchips per wafer.
The introduction of 8-inch wafer production, currently under preparation, is an
important prerequisite for future capacity upgrades and new generations of
technology. In November 2000, we signed an agreement with the IMEC Institute
in Belgium to install and licence 0.25µ production technology.
The main thrust of back-end development in 2000 was expansion of capacity for
mixed signal testing and the installation of advanced new packaging lines in the
assembly department. Besides responding to the rapid growth in volume, these
developments also further enhance the competitiveness of back-end operations.
We bought in further SoC (system-on-chip) testing systems, 8-inch wafer testers
and multisite pick & place test handling systems, thus increasing production capacity in high-end consumer testing, while improving efficiency and the degree
of automation. Part of the expansion was implemented at the Glenrothes plant
in Scotland.
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The new high-automation assembly line for the Hall sensor / SMD package started operations according to plan. This will enable us to make significant cost
savings, as well as taking account of the very demanding quality specifications
for automotive applications.
The trend in wafer technology towards ever finer structures and the worldwide
standard for semiconductor production plants led to an extension of the clean
room for wafer testing, enabling us to make considerable improvements to quality and efficiency.
Management system for environmental protection
At Micronas, environmental protection is an integral part of all our entrepreneurial activity. We are proud, therefore, to be able to announce that the development of a Management System for Environmental Protection, Industrial Safety
and Fire Prevention which is integrated across all our business areas, was completed at the start of 2000. Micronas GmbH in Freiburg received the certification
for the system under DIN standards in July 2000. In the reporting year, we also
received AAA certification for outstanding safety standards from ACE Insurance
S.A.-N.V.
Development of the employee base
At year-end 2000, Micronas had 1466 employees. This represents an increase of
some 19 percent on the previous year. The expansion is linked to the substantial
broadening of the business activities of the Micronas Group during the reporting
year.
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105
Employees by activity
2 35
Production
Research and development
Marketing and sales
Administration
Quality
9 44
To maintain the high level of professional expertise required in the various specialist areas of our company we further intensified our contacts with technical
colleges and universities during 2000.
Comprehensive quality management
Micronas’ quality management system is certified in accordance with QS-9000
and therefore also complies with the international ISO 9001 standard, as well as
the additional requirements of the US automotive industry.
Technology developments in wafer manufacture, the introduction of new packages and the expansion of subcontracted packaging and testing activities required a number of product and process qualifications.
32
We conducted comprehensive analyses of pilot runs in an effort to improve production startup, fault detection and output. On-chip repairs on finished ICs allow
rapid confirmation of suspected faults and accelerated learning cycles – essential to getting products and technologies to market on time.
33
Continuing improvement of methods to determine the cause of errors and rapid
correction cycles have permitted us to remain within the maximum failure rates
stipulated by customers and also to set ambitious new targets for the future.
Successful consumer business
Our consumer business achieved above-average growth in the reporting year.
Apart from the general upturn in demand, the new TV and multimedia products
in Korea and the United States had a particular impact on the growth of our business activity.
Net sales at the end of 2000 were CHF 414.3 million, a 57.9 percent improvement
on the previous year.
In the television segment, new technologies such as 100-Hz flicker-free sets, LCD
and plasma screens, and multichannel surround sound were well received in the
market.
Since their introduction in 1998, Micronas products have blazed the trail in the
area of MP3 music players, which use electronic storage in place of mechanical
media. Compared with the previous year, the volume of chipsets sold increased
by 65 percent. The latest success in the ongoing development process was the
implementation of further digital audio and speech formats. Micronas is a member of various interest groups whose task is to set important standards for the
distribution, sale and storage of multimedia content.
We serve the PC and set-top box market with building blocks used to make input/output devices for audio and video signals. TV functions and mass storage
devices for picture and sound data combined with Internet connections and an
efficient operating concept are opening up new market opportunities. The Micronas USB chipset permits direct connection of speakers to a PC without a sound
card.
Micronas has structured its sales and marketing organization to be close to its
customers and provide optimum support at the local level. Integration of the
Image and Video business is proceeding along the same lines.
Success in the automotive business
The automotive business also progressed satisfactorily in 2000. Net sales increased by 8.1 percent to CHF 76.0 million.
To achieve further growth in the dashboard controller segment we licensed a
new security processor core, which will enable us to meet customers’ performance and development requirements in the year ahead. Around this core, a new
concept for interior systems was developed and presented to key customers.
Some products based on this platform are already in development.
The interior systems platform has excellent expansion potential in terms of further applications, products and customer base. Demand is booming in this segment; our position opens up great opportunities. We expect rapid development
of our product range through collaboration with leading customers and certain
licensors.
In the area of Hall sensors, two very important design advances were achieved
in Japan. Both are based on our programmable linear Hall sensor, now marketed worldwide and achieving excellent sales. The success of this component is
due not least to the fact that it has already won two innovation awards, and in
the current year has been nominated for the most renowned US innovation
award. We had to make considerable efforts to expand capacity to cope with
booming sales of Hall sensors. Our business with sensors has benefited from a
stream of new applications. Thanks to the quality of our technology, we have
carved out a special position in this segment which we naturally wish to exploit
to the full. As reliability, size and weight are increasingly important considerations in vehicle manufacture, Hall sensors are being used more and more, even
replacing the humble switch.
To reinforce our market presence in southern Europe and North America, we
opened new sales and applications offices in Turin and Detroit.
34
35
MICRONAS PROFILE
Five-year comparison
Micronas Group
Consolidated figures
1
1999
1999
CHF 1000
EUR 1000
CHF 1000
EUR 1000
490 319
– 299 984
314 973
– 192 705
332 653
– 224 058
207 610
– 139 835
Margin
in % of net sales
190 335
38.8
122 268
38.8
108 595
32.6
67 775
32.6
Research and development expenses
Marketing expenses
Administrative and general expenses
Other operating income (+)/expenses (–), net
Operating profit before amortization
of goodwill and gain on disposal
of investment, net
– 46 507
– 42 958
– 17 185
13 635
– 29 875
– 27 596
– 11 039
8 759
– 34 765
– 28 287
– 6 557
7 631
– 21 697
– 17 654
– 4 092
4 763
97 320
62 517
46 617
29 095
– 2 824
4 957
99 453
20.3
– 1 814
3 184
63 887
20.3
4 716
0
51 333
15.4
2 943
0
32 038
15.4
Financial income and expenses, net
Income (+)/loss (–) from associates
Other income, net
Profit/loss before taxes and minority interest
in % of net sales
– 11 906
76
531
88 154
18.0
– 7 648
49
341
56 629
18.0
– 8 074
0
212
43 471
13.1
– 5 039
0
132
27 131
13.1
Income taxes
Minority interest
Net profit/loss for the period
– 24 694
0
63 460
– 15 863
0
40 766
– 18 650
0
24 821
– 11 640
0
15 491
Capital expenditures
138 752
89 132
54 353
33 922
Total assets
Shareholders’ equity
Cash flow from operating activities
872 738
220 437
92 604
573 265
144 796
59 487
422 279
158 024
82 185
263 151
98 476
51 292
1 426
1 466
1 426
1 466
1 219
1 229
1 219
1 229
Net sales
Cost of sales
Amortization of goodwill, net
Gain on disposal of investment, net
Operating profit
in % of net sales
Average number of employees
Number of employees at year-end
1
2000
1
2000
Micronas Group including Image and Video activities 1.10. – 31.12.2000
Currency exchange rates CHF/EUR
The following exchange rates have been used for the conversion from CHF to EUR:
Profit/loss and Cash flow statements
Average rate
1.5567
Balance sheet
Year-end rate
1.5224
1.6023
1.6047
Consolidated figures
1998
CHF 1000
Net sales
Cost of materials
Subcontracting
Personnel expenses
Other operating income (+) and
expenses (–), net
Depreciation and amortization
Operating profit/loss
in % of net sales
280
– 36
– 29
– 123
708
215
073
024
1
1998
EUR 1000
175
– 22
– 18
– 76
421
632
168
880
– 92 778
– 50 489
– 50 871
– 18.1
– 57 979
– 31 552
– 31 790
– 18.1
1
1997
CHF 1000
123
– 18
– 14
– 55
066
610
885
799
– 20 630
– 19 525
– 6 383
– 5.2
EUR 1000
76
– 11
–9
– 34
907
630
302
870
– 12 892
– 12 202
– 3 989
– 5.2
1996
EUR 1000
62
– 11
–9
– 26
077
823
647
077
38
–7
–6
– 16
793
388
029
296
1 924
– 7 957
8 497
13.7
1 202
– 4 973
5 309
13.7
905
127
107
083
– 811
0
0
958
– 507
0
0
599
– 3 670
0
0
285
– 56 287
– 20.1
– 35 175
– 20.1
– 6 472
– 5.3
– 4 045
– 5.3
8 644
13.9
5 401
13.9
Income taxes
Minority interest
Net profit/loss for the period
11 687
–2
– 44 602
7 303
–1
– 27 873
– 1 028
1
– 7 499
– 642
1
– 4 686
– 1 253
–2
7 389
– 783
–1
4 617
Capital expenditures
Research and development expenses
in % of net sales
90 379
– 38 278
– 13.6
56 480
– 23 921
– 13.6
78 214
– 16 881
– 13.7
48 878
– 10 549
– 13.7
12 881
– 9 995
– 16.1
8 050
– 6 246
– 16.1
Total assets
Shareholders’ equity
Cash flow from operating activities
292 027
57 657
– 25 159
182 494
36 031
– 15 722
382 239
98 170
80 285
238 870
61 349
50 172
94 808
57 125
5 359
59 248
35 699
3 349
1 477
1 230
1 477
1 230
1 615
1 620
1 615
1 620
399
387
399
387
2
–
–
–
1
1996
CHF 1000
– 5 872
0
0
456
1
448
203
171
733
2
Financial income (+) and expenses (–), net
Income (+)/loss (–) from associates
Amortization of goodwill, net
Other income, net
Profit/loss before taxes and
minority interest
in % of net sales
Average number of employees
Number of employees at year-end
–1
–
–
1
1997
2
Micronas Group 31.12.1998 balance sheet items, excluding Micronas Oy and Analoogdisaini AS
Micronas Group including Micronas GmbH 1.10. – 31.12.1997
Currency exchange rates CHF/EUR
The following exchange rates have been used for the conversion from CHF to EUR:
1996–1998
Rate on 1.1.1999
1.6002
38
39
Key performance benchmarks
Micronas Group
in %
2000
Return on equity (ROE) 1
Return on assets (ROA) 2
Equity ratio 3
Net debt to equity 4
Current ratio 5
33.5
11.6
25.3
148.6
1.8
6
1999
1998
23.0
9.2
37.4
– 74.5
2.1
– 57.2
– 11.5
19.7
– 13.9
1.0
1
ROE =
Net profit/loss for the period + Minority interest
x 100
Shareholders´equity (average) + Minority interest (average)
2
ROA =
Net profit/loss for the period + Interest income and expenses, net x 100
Total assets (average)
3
Equity ratio =
Shareholders’ equity + Minority interest x 100
Net assets
4
Net debt to equity =
Long-term loans + Current portion of long-term liabilities
+ Short-term borrowings – Cash and cash equivalents – Short-term financial investments x 100
Shareholders’ equity + Minority interest
5
Current ratio =
Current assets
Current liabilities
6
Micronas Group including Image and Video activities 1.10. – 31.12.2000
Micronas Group 31.12.1998 balance sheet items, excluding Micronas Oy and Analoogdisaini AS
Micronas Group including Micronas Intermetall 1.10. – 31.12.1997
7
8
7
1997
8
1996
– 9.7
– 2.5
25.7
– 60.3
1.1
20.0
11.0
60.3
– 17.4
3.0
1997
1996
Key figures
Micronas Semiconductor Holding AG
in CHF 1000
Total assets
Investments
Issued capital
Shareholders´ equity
Net profit/loss
Dividend paid
2000
691
649
21
134
7
360
135
460
904
043
0
1999
564
50
21
126
–1
136
352
311
956
177
0
1998
81
19
16
44
– 62
093
595
250
474
910
0
110
19
16
107
3
083
593
250
384
300
0
55
18
13
53
1
686
900
000
036
184
845
Key share data
31.12.2000
Number of registered shares (nominal value CHF 10)
Number of dividend-bearing shares as at 31.12.
Nominal capital
EBIT per share 1
Earnings per share 2
Shareholders’ equity per share
2 146 040
2 136 040
CHF 1000
CHF
CHF
CHF
21 460
46.56
29.71
103.20
CHF
CHF
CHF
1 068
404
678
42
CHF 1000
CHF 1000
CHF 1000
2 281 291
862 960
1 448 235
43
EUR
EUR
EUR
695
245
445
EUR 1000
EUR 1000
EUR 1000
1 484 548
523 330
950 538
Share price and market capitalization Swiss Stock Exchange
Share price
High
Low
Year-end
Market capitalization 3
High
Low
Year-end
Share price and market capitalization Neuer Markt Frankfurt
Share price
High
Low
Year-end
Market capitalization 3
High
Low
Year-end
1
EBIT per share =
Operating profit/loss
Number of shares (average for the year)
2
Earnings per share =
3
Calculation based on listed shares as at 31.12.2000
Net profit/loss for the year
Number of shares (average for the year)
Swiss Market Index
Performance 1.1.2000 to 31.12.2000
Price in %
Micronas AG
Swiss Market Index (SMI)
270
250
230
210
190
170
150
130
110
90
October
November
December
October
November
December
September
August
July
June
May
April
March
February
January
70
Neuer Markt
Performance 1.1.2000 to 31.12.2000
Price in %
Micronas AG
NEMAX All Share
300
275
250
225
200
175
150
125
100
75
September
August
July
June
May
April
March
February
January
50
Stock exchange trading
Micronas registered shares are traded on the Swiss Stock Exchange and on
the Neuer Markt in Frankfurt am Main.
Switzerland
Securities number: 441 600
Ticker symbol: MASN
Germany
Securities number: 910 354
Stock exchange abbreviation: MNSN
Major shareholders
As at 31 December 2000, the following shareholders registered in the Share Register
controlled a voting stake of more than 5%:
MicroValue
Julius Bär Multistock SICAV
7.8%
6.4%
44
Shareholder structure at year-end 2000
Number of shares
Number of shareholders
> 100 000
10 000 – 99 999
500 – 9 999
1 – 499
2
21
147
6 144
Key dates
Annual General Meeting
6 April 2001 in Zurich, World Trade Center
3-month results
6-month results
9-month results
27 April 2001
3 August 2001
26 October 2001
45
Management structure and governing bodies
Micronas Group (as at 31.12.2000)
Board of Directors of
Micronas Semiconductor Holding AG
Dr. Franz Betschon
Chairman of the Board of Directors
Dr. Thomas Lustenberger
Vice President of the Board of Directors
Dr. Rudolf W. Hug
Alfred M. Niederer
Dr. Leonardo E. Vannotti
Micronas Group management
Dr. Wolfgang Kalsbach
Chief Executive Officer (CEO)
Manfred Häner
Chief Financial Officer (CFO)
Hans-Jürgen Désor
Vice President Consumer
Klaus Heberle
Vice President Automotive
Dr. Ulrich Sieben
Vice President Technology
Nikolaus Kaeppeler
Vice President Operations Frontend
Wilfried Lowinski
Vice President Operations Backend
Hans Pfander
Vice President Quality
Werner Spieth
Vice President Human Resources
Statutory auditors
Statutory auditors and group auditors pursuant to Art. 727 ff. of the Swiss Code of Obligations
are Ernst & Young AG, Zurich.
The main companies that belong to the Micronas Group are audited by member firms of
Ernst & Young.
Subsidiaries and participations
Micronas Semiconductor Holding AG (as at 7.2.2001)
Micronas Semiconductor Holding AG
Zurich, Switzerland
100%
100%
100%
100%
Micronas Semiconductor SA
Neuchâtel, Switzerland
Micronas Holding GmbH
Freiburg, Germany
Micronas Finance Ltd.
Guernsey
Micronas Semiconductors Inc.
San Jose, USA
100%
99.9979%
100%
100%
Mantel5 GmbH
Munich, Germany
Micronas GmbH
Freiburg, Germany
Micronas Ltd.
Glenrothes, Scotland
Micronas Asia K.K.
Tokyo, Japan
26.6%
100%
100%
Nanotron GmbH
Berlin, Germany
Micronas Munich GmbH
Freiburg, Germany
Hong Kong
100%
100%
Micronas Halbleiterentwicklungs
GmbH
Vienna, Austria
Micronas Korea Ltd.
Seoul, Korea
1
46
47
15%
innoCom Wireless, Inc.
San Diego, USA
1
0.0021% are hold by Micronas Semiconductor Holding AG, Zurich
Top, from left:
Herbert Alrutz
Hans-Jürgen Désor
Manfred Häner
Klaus Heberle
Nikolaus Kaeppeler
Dr. Wolfgang Kalsbach
Bottom, from left:
Wolfgang Kühn
Wilfried Lowinski
Hans Schwendner
Dr. Ulrich Sieben
Werner Spieth
Nicholas Ververis
Dirk Wieberneit
48
49
Glossary
Some of the terms and names used are protected by law and are the property of the owner concerned. The trademark and copyright signs that apply to these names and terms do not appear
in this glossary.
AAC Advanced Audio Coding. An audio compression technology that is part of the MPEG-2 standard. It provides
greater compression and superior sound quality than MP3.
ADR Astra Digital Radio. Digital audio standard which is
already used to receive nearly all German-language radio
programs in CD quality via satellite (Astra).
Analog In comparison with digital technology, which represents electrical signals as a sequence of numbers to be used
for calculation in signal processing, analog circuits process
the electrical signals directly. Analog technology is considered to be less flexible than digital technology in many respects.
Bonder When integrated circuits are packaged in housings,
the electrical connectors on the actual IC have to be “bonded” to those in the housing. The machines used to do this
are called bonders.
Bus/bus systems In information technology, data is transferred in a predefined way via so-called bus interfaces.
Buses can vary according to the specification of the physical transfer path, the data format and the transfer protocol.
CMOS Semiconductor technology that allows the production of particularly energy-efficient ICs. CMOS is currently
the dominant technology for the manufacture of complex
circuits.
Compression By compressing digital data, it can be transmitted and stored more efficiently. Modern compression
techniques mean, for example, that music only requires
about a fifteenth of the capacity originally needed, and video only about a hundredth.
These techniques are the basis of future digital television
and radio standards and their use will have far-reaching
consequences for the handling of multimedia information.
Controller Also known as microcontrollers (µC). A combination of a microprocessor and a special control circuit on a
dedicated IC. Microcontrollers are used for the control of
most electronic and mechanical devices. Examples: instrument panels, radios, televisions, washing machines, etc.
Digital TV Digital television or DTV, is a new, much more
efficient method of transmitting television. A digital signal
can transmit more information than an analog signal using
the same range of frequencies (bandwidth). DTV offers in
addition advantages such as better picture and sound quality, simultaneous transmission of several programs, teletext
and interactive services.
Dolby Digital Process for producing television or cinema
surround sound with a clear distinction between background
and foreground sounds. The process requires five separate
audio channels and five loudspeakers arranged around the
listener.
Dolby Pro Logic Surround Process for producing surround
sound using several speakers arranged around the listener.
Dolby Virtual Surround Process for producing television or
cinema surround in stereo quality that clearly distinguishes
between background and foreground sounds.
Unlike Dolby Digital, however, this process only requires the
two loudspeakers already present in stereo TVs. This illusion only works well if the listener is in a specific position
relative to the loudspeakers.
Double Scan Process which constructs images twice as
quickly as single scan. Used in 100-Hz flicker-free televisions.
DRAM Dynamic Random Access Memory. Most common
type of digital memory. DRAM technology allows high
packing density and a consequently low price.
Flash Freely programmable semiconductor memory which
retains its content even when the power is switched off.
This type of memory is used, for example, in microcontroller architecture so that the microcontroller will retain its
characteristics for as long as is required after a single programming. This means that if something goes wrong, new
controller versions (Flash versions) can be introduced very
quickly into a production process.
Foundry Semiconductor plant which does not have its own
product development but which manufactures ICs on behalf
of and according to the designs of other firms.
Hall effect In a semiconductive platelet, the so-called Hall
voltage is generated by the effect of an external magnetic
field acting perpendicularly to the direction of the current.
The size of the current is proportional to the strength of the
magnetic field.
Hall sensor Solid state semiconductor sensor, which uses
the Hall effect to measure the strength of a magnetic field.
IC Integrated circuit, chip. ICs are electronic components
which can consist of several million functions embedded in
a monolithic piece of silicon measured in square centimeters.
LCD Liquid crystal display. Technology used to manufacture
flat screens. The screen is made in a similar way to ICs,
which is why it is still difficult today to produce large-screen
diagonals. This biggest commercially available LCD screens
currently have a visible diagonal size of 43 cm.
Mixed-signal chip A chip which combines circuits for processing analog signals and circuits for processing digital
signals.
MP3 Currently the most popular compression technique for
music. MP3 allows distribution of music over the Internet
and has led to the emergence of a new generation of hi-fi
equipment.
MPEG Process for compressing films. All new digital TV
standards are based on this process. MPEG allows the transmission of between four and ten television programs via a
single television channel.
MSP Multi Sound Processor. A Micronas audio processor
that can decode all worldwide TV audio standards.
NICAM Process for transmitting digital television audio in
superior quality. Used in several European countries since
the beginning of the nineties.
PIP Picture-in-Picture. Feature of a TV set that allows placing
a second or several pictures within the main picture.
Plasma picture tube A new method of manufacturing flat
screens. The advantage of a plasma picture tube is that the
individual pixels actively glow and screens can be manufactured with diagonal dimensions of over one meter. However, the manufacturing process is still very expensive. The
first products cost more than CHF 15 000.
Product families/families Versions of semiconductor components on the basis of a common design. Product families
allow Micronas customers to exchange individual ICs and
thus make different products from a single product development process.
Progressive scan Process which produces a better resolution on a television screen than a single scan. Progressive
scanning is used, for example, in television projection
equipment and large-screen TV sets.
Set-top box Equipment which sits with the television to facilitate reception of new-generation services and programs.
It seems that forthcoming digital television programs will
initially be received with the help of a set-top box.
Silicon The raw material for silicon can be found in almost
limitless quantities in the form of quartz sand (silicic acid). It
is the second most common element on earth after oxygen.
A third of the earth’s crust is made of silicon.
A costly process is required to turn the raw material into the
pure form required by the semiconductor industry. In this
form, only one foreign atom is present per billion atoms of
silicon.
Single scan Traditional process for producing an image on
a television screen. When televisions were first produced,
technical limitations meant that the established speed and
resolution of image produced flickering pictures made up of
individual lines. At the time this was not found disturbing.
SP/DIF A single wire bus established by Sony and Philips
for transmitting audio data.
50
Telematics Process for controlling traffic through the use of
navigation and communication technologies built into cars.
Teletext A broadcasting service that transmits text to a TV
set that has a teletext decoder.
TQM Total Quality Management. Method for the systematic
investigation and comprehensive improvement of a company’s working processes. TQM methods are now used
worldwide in all industries.
USB Universal Serial Bus. In future this will be the way peripheral equipment is connected to PCs. Unlike previous
procedures, USB allows a high rate of data transfer and a
practically limitless number of peripherals (printers, scanners, cameras, etc.)
VCR Video cassette recorder.
Wafer A thin slice of pure silicon onto which active semiconducting circuits – integrated circuits or ICs – are built
using a lithographic process.
WMA Windows Media Audio. An audio compression technology developed by Microsoft.
Yield When used in connection with manufacturing: the
ratio of the number of usable products to the number of
produced products.
51
Micronas Semiconductor Holding AG
Technopark
Technoparkstrasse 1
CH – 8005 Zurich
Switzerland
Phone +41 1 445 39 60
Fax +41 1 445 39 61
Concept, editors: Hirzel.Neef.Rasi.Schmid., Zurich
Design: Richard Feurer, Zurich
Project management: JBW Werbeagentur GmbH, Zollikon
Images: Yves Netzhammer, Zurich
Photos: Jonas Kuhn, Zurich
Prepress: Sota Repro AG, Zurich
Printing: Spefa Druck AG, Zurich
02.01
Micronas Holding GmbH
Hans-Bunte-Strasse 19
D – 79108 Freiburg
Germany
P.O. Box 840
D – 79008 Freiburg
Phone +49 761 557 5688
Fax +49 761 557 5690
investor@micronas.com
www.micronas.com
This annual report is also available in
German.
The German version is legally binding.
52
53
Micronas Group
Key figures at a glance
Micronas Group
Portrait in brief
00
Micronas is an internationally active semiconductor group with holding company headquarters in Zurich (Switzerland). The group develops, manufactures and
markets integrated circuits and sensors for the consumer electronics, multimedia
and automotive electronics industries. The Micronas strategy is to continue expanding its position as a worldwide semiconductor supplier providing video,
sound, data and sensor technology, as well as to use new technological developments to exploit opportunities for long-term business success.
Micronas Group’s operational center is located in Freiburg im Breisgau (Germany). Production and the coordination of sales and marketing activities are concentrated there. Research and development are located in Freiburg im Breisgau
and Munich/Villach. Micronas also has a test center in Scotland and an in-house
sales network throughout Europe, the USA and Asia.
The Micronas Group goes back to 1989. After the company was floated on the
Swiss Stock Exchange in 1996, since 1999 its shares have also been listed on the
Neuer Markt in Frankfurt. Micronas currently employs around 1 400 people.
ANNUAL REPORT
Net sales
Net profit
Capital expenditures
Research and development expenses
Shareholders’ equity
Equity ratio in %
Cash flow from operating activities
Earnings per share
Equity per share
2000
1999
2000
1999
CHF 1000
CHF 1000
EUR 1000
EUR 1000
314
40
89
29
144
207
15
33
21
98
490
63
138
46
220
319
460
752
507
437
25.3
92 604
29.71
103.20
332
24
54
34
158
653
821
353
765
024
37.4
82 185
13.29
74.50
973
766
132
875
796
25.3
59 487
19.08
67.79
610
491
922
697
476
37.4
51 292
8.29
46.43
Micronas Group
Key figures at a glance
Micronas Group
Portrait in brief
00
Micronas is an internationally active semiconductor group with holding company headquarters in Zurich (Switzerland). The group develops, manufactures and
markets integrated circuits and sensors for the consumer electronics, multimedia
and automotive electronics industries. The Micronas strategy is to continue expanding its position as a worldwide semiconductor supplier providing video,
sound, data and sensor technology, as well as to use new technological developments to exploit opportunities for long-term business success.
Micronas Group’s operational center is located in Freiburg im Breisgau (Germany). Production and the coordination of sales and marketing activities are concentrated there. Research and development are located in Freiburg im Breisgau
and Munich/Villach. Micronas also has a test center in Scotland and an in-house
sales network throughout Europe, the USA and Asia.
The Micronas Group goes back to 1989. After the company was floated on the
Swiss Stock Exchange in 1996, since 1999 its shares have also been listed on the
Neuer Markt in Frankfurt. Micronas currently employs around 1 400 people.
ANNUAL REPORT
Net sales
Net profit
Capital expenditures
Research and development expenses
Shareholders’ equity
Equity ratio in %
Cash flow from operating activities
Earnings per share
Equity per share
2000
1999
2000
1999
CHF 1000
CHF 1000
EUR 1000
EUR 1000
314
40
89
29
144
207
15
33
21
98
490
63
138
46
220
319
460
752
507
437
25.3
92 604
29.71
103.20
332
24
54
34
158
653
821
353
765
024
37.4
82 185
13.29
74.50
973
766
132
875
796
25.3
59 487
19.08
67.79
610
491
922
697
476
37.4
51 292
8.29
46.43