Q3 2019 Elmos Semiconductor AG Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to the Elmos Semiconductor AG conference call regarding the third quarter results of 2019. (Operator Instructions) Let me now turn the floor over to your host, Mr. -- Dr. Anton Mindl, CEO.
Good morning, ladies and gentlemen, also from my side. Welcome to our conference call on the results of the third quarter of 2019. As always, I host the call together with our CFO, Dr. Arne Schneider. Before coming to a more detailed discussion of the figures, a few general remarks on the highlights of the last quarter as well as our position in the current market environment.
As you all know, we have sold our subsidiary, SMI, to TE Connectivity Ltd. on the 30th of September 2019 for a quite attractive valuation of a net debt-free enterprise value of USD 95 million, corresponding to a multiple of 3.4 on external revenue or around 21x of -- on the EBIT, based on the 2018 SMI numbers. With the sale of SMI, the subsidiary is no longer included in
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