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Organisation update

Dialog Semiconductor

Update on organisational structure and segment information

Table 1 : Underlying revenue by segment (unaudited)
  Underlying revenue(1)   Underlying revenue(1)
  Three months
ended
30 March 2018
Three months
ended
29 June 2018
Three months
ended
28 September 2018

Three months
ended
31 December 2018

Three months
ended
29 March 2019
  Year
ended
31 December 2017
Year
ended
31 December 2018
  US$000 US$000 US$000 US$000 US$000   US$000 US$000
Custom Mixed Signal 245,402 194,538 274,534 327,845 211,605   1,059,603 1,042,319
Advanced Mixed Signal 53,926 63,651 66,265 60,694 50,898   147,603 244,536
Connectivity & Audio 32,819 37,467 42,734 40,984 32,376   137,834 154,004
Total segments 332,147 295,656 383,533 429,523 294,879   1,345,040 1,440,859
Corporate and other
unallocated items
8 8 41 1,222 7   7,801 1,279
Total Group 332,155 295,664 383,574 430,745 294,886   1,352,841 1,442,138

(1) Revenue is from sales to external customers (there were no inter-segment sales)

 

Table 2: Underlying operating profit by segment (unaudited)
  Underlying operating profit/(loss)   Underlying operating profit/(loss)
  Three months
ended
30 March 2018
Three months
ended
29 June 2018
Three months
ended
28 September 2018

Three months
ended
31 December 2018

Three months
ended
29 March 2019
  Year
ended
31 December 2017
Year
ended
31 December 2018
  US$000 US$000 US$000 US$000 US$000   US$000 US$000
Custom Mixed Signal 60,515 37,558 72,027 97,489 44,945   296,236 267,589
Advanced Mixed Signal 3,028 8,175 9,040 6,511 1,008   (1,326) 26,754
Connectivity & Audio (618) 4,081 5,590 4,584 5,019   9,740 13,637
Total segments 62,925 49,814 86,657 108,584 50,972   304,650 307,980
Corporate and other
unallocated items
(10,475) (7,740) (2,977) (5,160) (3,821)   (45,192) (26,352)
Total Group 52,450 42,074 83,680 103,424 47,151   259,458 281,628

 

 

Table 3: Reconciliation of underlying operating profit to profit before income taxes reported under IFRS (unaudited)
  Three months
ended
30 March 2018
Three months
ended
29 June 2018
Three months
ended
28 September 2018

Three months
ended
31 December 2018

Three months
ended
29 March 2019
  Year
ended
31 December 2017
Year
ended
31 December 2018
  US$000 US$000 US$000 US$000 US$000   US$000 US$000
Underlying operating profit 52,450 42,074 83,680 103,424 47,151   259,458 281,628
Licence and asset transfers to Apple:                
- Perpetual licence fee   - - - -   - -
- Gain on transfer of business assets             - -
Share-based compensation and related payroll taxes (10,348) (8,746) (10,205) (12,354) (11,886)   (35,498) (41,653)
Accounting for business combinations:                
- Acquisition-related costs - - - - - - (4,539) -
- Amortisation of acquired intangible assets (5,657) (5,657) (5,658) (5,657) (5,657)   (16,461) (22,629)
- Consumption of the fair value uplift of acquired inventory (2,388) (406) (335) - -   (2,305) (3,129)
- Consideration accounted for as compensation expense (454) (350) (342) (335) (319)   (1,409) (1,481)
- Forfeiture of deferred consideration 127 36 14 27 83   - 204
- Remeasurement of contingent consideration (158) 523 1,154 (641) -   - 878
Integration costs (689) (474) (940) (662)     (2,305) (2,765)
Corporate transaction costs - (773) (3,880) (6,693) (4,031)   - (11,346)
Strategic investments:                
- Impairment of non-current assets held by Dyna Image - - - - -   (4,327) -
- Loss on deconsolidation of Dyna Image - - - - -   (5,597) -
Operating profit reported under IFRS 32,883 26,227 63,488 77,109 25,341   187,017 199,707
Interest income 1,612 2,299 2,654 3,318 3,914   5,995 9,883
Interest expense (960) (698) (664) (812) (1,490)   (1,302) (3,134)
Other finance (expense)/income (5,090) 296 (3,186) (2,283) (1,465)   3,093 (10,263)
Profit before income taxes 28,445 28,124 62,292 77,332 26,300   194,803 196,193