Key figures at a glance Portrait in brief · Micronas Group Portrait in brief. Yves Netzhammer born...

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ANNUAL REPORT

2000 1999 2000 1999CHF 1000 CHF 1000 EUR 1000 EUR 1000

Net sales 490 319 332 653 314 973 207 610

Net profit 63 460 24 821 40 766 15 491

Capital expenditures 138 752 54 353 89 132 33 922

Research and development expenses 46 507 34 765 29 875 21 697

Shareholders’ equity 220 437 158 024 144 796 98 476

Equity ratio in % 25.3 37.4 25.3 37.4

Cash flow from operating activities 92 604 82 185 59 487 51 292

Earnings per share 29.71 13.29 19.08 8.29

Equity per share 103.20 74.50 67.79 46.43

Micronas GroupKey figures at a glance

Micronas is an internationally active semiconductor group with holding compa-ny headquarters in Zurich (Switzerland). The group develops, manufactures andmarkets integrated circuits and sensors for the consumer electronics, multimediaand automotive electronics industries. The Micronas strategy is to continue ex-panding its position as a worldwide semiconductor supplier providing video,sound, data and sensor technology, as well as to use new technological develop-ments to exploit opportunities for long-term business success.

Micronas Group’s operational center is located in Freiburg im Breisgau (Ger-many). Production and the coordination of sales and marketing activities are con-centrated there. Research and development are located in Freiburg im Breisgauand Munich/Villach. Micronas also has a test center in Scotland and an in-housesales network throughout Europe, the USA and Asia.

The Micronas Group goes back to 1989. After the company was floated on theSwiss Stock Exchange in 1996, since 1999 its shares have also been listed on theNeuer Markt in Frankfurt. Micronas currently employs around 1400 people.

Micronas GroupPortrait in brief

Yves Netzhammerborn 1970; lives and works in Zurich.

The relationships between nature, technology and the human spirit, between nat-ural, man-made and imaginary realities, are an eternal riddle which confronts uson the boundary between the present and the future. The artist Yves Netzhammermoves along that boundary and gives the riddle form. He captures it in imagesand shapes which are aesthetic, and yet at the same time could hardly be moremodern in their making. Not that these digitally generated images claim to solvethe riddle once and for all. They make no promises. They open up a horizon ofthought and imagination onto which we can project designs and models, desiresand expectations of what lies ahead. That is why Netzhammer never shows stillsor freeze-frame shots, but always processes. Each of his visions tells a storywhich is complete in itself, yet has a continuation in every other story. The pro-cesses gradually mesh to form complex programs; the stories merge into a richmythology of the near future in which the natural, the technical and the imagi-nary are superimposed without contradicting one another. In this way they repre-sent 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 graphicdesign. His works have their place wherever the future begins: wherever the greatnarratives of innovation and invention are unfolding.

In a figurative sense, Micronas, as a high-tech enterprise, sees itself permanent-ly confronted by this complex parallelogram of forces. In its response to techno-logical challenges and through the development of countless system solutionsover the years, the Micronas Group has been steadily building its “intellectualproperty.”

Key figures

Letter to shareholders

MICRONAS IN THE MARKET

High-grade products for high-growth markets

Consumer Division

Comprehensive product portfolio

AudioVideo

Set-top boxesMultimedia

Satellite radio

Automotive Division

System solutions for automobiles

ControllersHall sensors

MICRONAS IN THE YEAR UNDER REVIEW

Strengthening our market positionStrong increase in sales and profit

Expansion of the video businessLong-term financing

Major research and development effortFurther capacity expansion for wafer production

New technologiesManagement system for environmental protection

Development of the employee baseComprehensive quality management

Successful consumer businessSuccess in the automotive business

MICRONAS PROFILE

Five-year comparisonKey share data

Management structure and governing bodiesSubsidiaries and participationsMicronas Group management

GlossaryAddresses

Portrait in brief

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Ladies and Gentlemen

The Micronas Group produced another outstanding and dynamic performancein 2000. All the key performance indicators showed strong gains. Micronas’ inci-sive strategy, based on market leadership in selected high-end semiconductorsystems for consumer goods and automotive applications, continued to bitethroughout the year.

Thanks to our market-oriented research and development efforts in 2000 we con-solidated our position in our target markets, which are characterized by shortproduct life-cycles and rapid technological advances.

The takeover of the Image and Video division of Infineon Technologies in theautumn of 2000 was part of Micronas’ strategic thrust. This acquisition comple-ments the Group’s technology and product portfolios and strengthens our corecompetencies and market leadership in the fast-growing multimedia markets.We invested CHF 380 million in acquiring this highly profitable business withgood prospects for future growth. In the year under review, Group sales rose by47.4 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 wasCHF 92.6 million. The net profit for the year more than doubled to CHF 63.5 mil-lion, representing a return on net sales of 12.9 percent. Earnings per share in2000 were CHF 29.71, compared with CHF 13.29 the previous year. The share-holders’ 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, be-gun in May and September 2000, is going according to plan. The new marketingorganization, reinforced by Image and Video, is being expanded continually toimprove our responsiveness to customers’ needs through closer cooperation.

Spending on research and development increased to CHF 46.5 million in thereporting year, compared with CHF 34.8 million in 1999.

To our shareholders

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As a result of the strong growth of our business activities, the number of ouremployees increased by around 19 percent to 1466. We can be proud of the pro-fessionalism 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 ouremployees for their contribution to the success of the company and our share-holders for their confidence.

Dr. Franz Betschon Dr. Wolfgang KalsbachChairman CEO

MICRONAS IN THE MARKET

The environment in which Micronas is active is character-

ized by above-average growth rates and short product life-

cycles, 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 appli-

cations in the high-end consumer electronics and automo-

tive 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 cus-

tomer base. Our product concepts are uncompromisingly

based on the recognition that classic consumer electronics

is converging with computer technology and the new media

HIGH-GRADE PRODUCTSFOR HIGH-GROWTH MARKETS

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and that system solutions in the area of automotive instru-

mentation 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 aca-

demic research institutions. This enables us to identify prom-

ising 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 Breis-

gau (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 repre-

sents a decisive step forward in the expansion of our con-

sumer electronics business. For the Micronas Group, it is a

complementary investment in technology and products, re-

inforcing our market leadership in key areas of competence

in the high-growth multimedia markets.

Consumer Division The Consumer Division is one of two

core business units at Micronas. It produces integrated cir-

cuits (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 con-

sumer goods.

AUDIOMicronas offers a comprehensive range of fully compatible audio processors forvarious TV and VCR applications in the mid- and high-end market segments.These segments represent more than 50 percent of all TVs manufactured through-out the world and about 25 percent of all VCRs.

Our current product range covers all the common analog and digital TV audiostandards. Micronas is the world’s only manufacturer to offer an integrated solu-tion that combines all existing audio standards in a single audio processor.

Dolby Digital audio processing gives consumers a new standard in audio quali-ty. Manufacturers can easily integrate this audio system into their existing TVequipment architecture. Compared with the competition Micronas has the mostwide-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 productfamily has proved extremely successful in the marketplace. By the end of 2000,over 100 million Micronas MSP audio processors were sold for multichanneltelevision audio or simulated surround sound (Dolby Prologic Surround, Virtual

COMPREHENSIVE PRODUCT PORTFOLIO

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Dolby Surround). In the European TV market we achieved a market share ofabout 80 percent with such processors. Globally, our penetration is probablyabout 40 percent of the total market.

Micronas works closely with its customers to define market requirements at anearly stage in development. This enables us to play an important part in shapingnew trends at critical points. Utilizing our broad range of audio processors, TVand VCR equipment manufacturers can always select a combination of audiofunctions (such as base, treble, volume, surround sound, Virtual Dolby Surroundand graphic equalizer) and audio standards that precisely meet their needs.

In the Advanced Audio market attention is still focussed on the penetration of theMP3 player. MP3 is currently the world’s most widely used standard for com-pression of digital audio signals. The MP3 player represents a new generation ofconsumer audio equipment that thrives on the tremendous growth of personalcomputer use and the rapid spread of the Internet.

The Advanced Audio applications (MP3) chip, introduced by Micronas two-and-a-half years ago, is now widely used in portable audio players. These devices,based on nonvolatile semiconductor memories, systematically exploit the ad-vantages 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 voicerecording. Some MP3 expansion units for existing devices have already estab-lished themselves. They offer MP3 functions for mobile phones, talking-bookdevices, as well as equipment for the toys market.

Micronas’ strategy is to gain access to a number of different markets wheneverit develops custom chipsets and compression technologies. Wearable audioplayers – based on flash memory and hard disk technology – MP3 CD playersand voice recording devices are already on the market. In the future, Micronaswill 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 theSD Card Association, which establishes standards for data media copy protec-tion. Micronas supports both these interest groups and is implementing theirstandards in its new products. We are also continuously developing products fornew audio standards such as Advanced Audio Coding (AAC), an extremely fast-growing market.

Micronas offers compatible components for a wide range of requirements. Our“product family” concept provides manufacturers of television sets with a singledevelopment that covers a number of different equipment classes as well as alltelevision standards.

Micronas offers complete systems solutions for TV manufacturers who do littleor no product development work of their own. In the years ahead, Micronas willsystematically integrate more and more functions into its components in orderto strengthen its market position in the consumer video sector. This will allow usto adapt to new transmission methods and display technologies.

Products Micronas’ video products handle complete video signal processing. This allowsthe TV set to receive and display all kinds of signals. In addition to standard func-tions such as brightness, contrast and color saturation, synchronization andscanning, countless image-enhancement functions are integrated into the mod-ules. These products can be used throughout the world in all television set classes.

VIDEO

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The term set-top boxes (STBs) refers to TV receivers that are not equipped withtheir own screens or speakers and are therefore used in combination with a tele-vision set. Such set-top boxes allow existing TV sets to operate with new trans-mission 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 net-works, broadcast transmitters and satellites. In time, digital transmission tech-nology is expected to supersede analog technology completely.

The STB market is currently dominated by satellite boxes for analog TV or digi-tal pay TV. While we are already seeing signs of initial saturation in satellite payTV in the industrialized nations (particularly the USA), this technology is justbeginning to take off in the newly emerging nations.

Micronas is pursuing a strategy of integrating into STBs the audio and videoproducts that are already used in high volumes in TV sets. The characteristics ofthese integrated circuits (with IC-internal digital signal processing) make themvery attractive, especially during the transition phase from analog to digital TVstandards. Such ICs already offer digital interfaces for hybrid STBs and allow theSTB function to be integrated cost-effectively directly in the television set.

Products Digital television is opening up new business opportunities for Micronas in thearea of set-top boxes and multimedia PCs. These units convert the new digitaltransmission data into signals that can be processed or displayed by conven-tional 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 digitalradio signals and decoding analog video and data signals (such as Teletext). Anumber of large manufacturers in the USA use high volumes of Micronas audioand video products. Compared to the TV market, product cycles in this sectorand required delivery lead times are much shorter.

SET-TOP BOXES

High-speed bus systems, standardized interfaces and modern operating systemspermit high-performance processing of audio and video data in conventionalPCs. 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 con-verted into a digital format before they can be processed in a PC. Based on itslong experience as a supplier to TV set manufacturers and as a manufacturer ofintegrated circuits for the television industry, Micronas offers a full family of ICsfor receiving and processing TV signals in PCs. The latest TV tuner cards use thissystem and also offer surround sound (Dolby Pro Logic Surround, Dolby VirtualSurround).

The USB standard (Universal Serial Bus) is starting to dominate the multimediamarket. Eventually, all PC input/output devices such as mice, keyboards, mo-dems or speakers will use the same connectors and will therefore be very easyto 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, oradaption of PCs to work with consumer audio equipment by adding a digitalaudio interface.

Micronas has developed an interface module for USB applications that allowsdigital audio signals to be passed directly to the speakers via the USB bus. Byusing digital signal processing, the chip is able to implement various featuressuch as equalization, adaptive base enhancement or active frequency modula-tion. 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 PCmanufacturers.

MULTIMEDIA

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In 1990 the US company WorldSpace was founded with the aim of providing acomprehensive multimedia information and entertainment platform for devel-oping and emerging countries with little or no access to modern mass media.These programs are broadcast by satellite so reception should be possible justabout everywhere. The company has already taken the first step, broadcastingradio programs via digital satellite radio.

For more than two years the WorldSpace “Afristar” satellite has been broadcast-ing information and entertainment programs to the African continent. Micronassupplies a special chipset used to receive the digital information to three of thefour Japanese radio manufacturers involved in the project. Launch of the secondsatellite, “AsiaStar”, took place in mid-2000. This opened up an additional attrac-tive sales market.

SATELLITE RADIO

Automotive Division The Automotive Division develops and

produces microchips used in a multitude of automotive ap-

plications. Such chips are increasingly replacing mechanical

components and permit additional functions to be integrat-

ed into the vehicle. Micronas’ customers are primarily sys-

tems suppliers to the automotive industry.

The Automotive Division comprises two product lines: con-

trollers 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 exist-

ing synergies between the Consumer and Automotive divi-

sions.

Our microprocessors for electronic instrumentation (“dashboard controllers”)permit a wide range of functions to be displayed in the vehicle. A large numberof control displays are integrated on a single Micronas chip. The proportion ofelectronic instrumentation in vehicles is increasing steadily, which augurs wellfor 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 vehi-cles produced throughout the world are equipped with electronic instrumenta-tion. The market is extremely demanding in respect of product quality and thesupply capabilities of component vendors. Although automotive products arelong-lived, competitiveness is governed by short innovation cycles.

Micronas collaborates with systems suppliers on research and development pro-jects. This helps us identify market needs and requirements early on. From thevery outset, Micronas designs its products so that they can be adapted to chang-ing requirements with a minimum of effort and expense.

SYSTEM SOLUTIONS FORAUTOMOBILES

CONTROLLERS

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Our interior concept for vehicles is based on generating benefits for systemssuppliers. Large systems manufacturers have to derive synergies from theirsheer size. At the same time, they have to keep their products flexible and adapt-able, since every vehicle manufacturer has its own individual needs. The interiorconcept developed by Micronas offers a high degree of flexibility relative tofunctionality and costs, and it integrates various function modules found in theinterior. 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 tonew requirements.

This concept enables us to connect Micronas’ two areas of competence: Auto-motive and Consumer. For example, our know-how in developing functionalmodules for TV manufacturers can also be applied to automotive applications.

ProductsMicronas controllers are used in car instrumentation. By implementing severalfunctions on one chip – e.g. indicators for speed, revolutions per minute, main-tenance intervals and fuel consumption – Micronas meets car manufacturers’demands for space-saving solutions. The components are designed in such away that Micronas can take account of changes requested by the customer rightup to the start of production.

Hall sensors are used to detect magnetic fields by converting them into electri-cal signals. There are two types of application for Hall sensors: measurement ofelectrical currents, and detection of mechanical movements and positions with-out mechanical contact. The Hall sensors themselves are extremely small, whichmeans 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 con-trol, ABS, power seat and mirror adjustment, fluid level sensors, power sunroofs and speed sensors. The trend in automotive electronics is toward decen-tralized, networked subsystems. These require electronic sensors combined withintegrated intelligent functions.

Beyond these applications, Hall sensors are also found in a large number of in-dustrial and consumer applications.

ProductsMicronas currently offers seven different families of Hall sensors covering awide range of automotive sensor applications. Since each family has severalvariants with different magnetic characteristics, Micronas has the right productfor virtually any application.

HALL SENSORS

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MICRONAS IN THE YEAR UNDER REVIEW

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 to-

ward high-end semiconductor systems for the consumer

goods and automotive industry again proved successful in

2000.

Strong increase in sales and profitConsolidated net sales grew strongly, rising from CHF 332.7 million in 1999 toCHF 490.3 million in the year under review. This represents an increase of 47.4percent.

Of this growth, CHF 59.5 million was contributed by Image and Video, includedin the scope of consolidation since 1 October 2000. Organic growth was 29.5 per-cent.

Both core businesses contributed to the increase in sales. The Consumer Di-vision generated net sales of CHF 414.3 million in 2000, up 57.9 percent on the1999 figure of CHF 262.3. This amounted to 84.5 percent of total Group sales forthe year under review.

In the reporting year, the Automotive Division contributed CHF 76.0 million tooverall Group sales, compared with CHF 70.3 million the previous year. Thisrepresents a year-on-year growth of 8.1 percent. The division’s contribution tooverall sales by the Micronas Group was 15.5 percent.

STRENGTHENING OURMARKET POSITION

Sales by markets

76.0

414.3

ConsumerAutomotive

Sales by region

10.9

53.0

119.

0307.4

EuropeAsiaUSAOther

in CHF million

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A geographical breakdown of sales (cf. chart on page 25) shows Europe is stillMicronas’ biggest market. With sales growing by 47.4 percent, the total for thisregion was CHF 307.4 million. Sales in the US market increased in the reportingyear 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 89.8million to CHF 119.0 million. Asia’s share in total Group sales in 2000 was 24.3percent.

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 improve-ment on the 1999 performance. Of the excellent operating profit of CHF 99.5 mil-lion, CHF 85.4 million was generated by the Consumer Division and CHF 16.3 bythe Automotive Division; other activities accounted for a loss of CHF 2.2 million.The reported operating profit included nonrecurring profit of CHF 14.7 millionfrom the sale of the participating interest in Micro Analog Systems, Espoo (Fin-land), as well as profit from the writeback of reserves for completed restruc-turing 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 businessThe acquisition of the Image and Video business in the autumn of 2000 repre-sents a significant gain in value for the Micronas Group.

Image and Video extends the Group’s activities to two new locations, Munich andVillach, where ICs for consumer electronics applications are developed. Munichis also a new stronghold for the sales and marketing organization.

As a result of the acquisition, Micronas has a significantly broader, more roundedportfolio of products, know-how and development resources in the consumersector.

Long-term financingThe acquisition of the Image and Video business from Infineon Technologiesrequired an investment of CHF 380 million. The purchase price was settled incash, financed through a loan from a bank consortium led by Credit Suisse First

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Boston, as well as from our own resources. The credit will be repaid by ownfunds raised through a capital market transaction which the Extraordinary Share-holders’ Meeting approved on 17 November 2000.

Major research and development effortIn 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 ofsales 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 islargely completed and some of the high-volume products have already beenimplemented on even smaller structures (0.45µ). Thanks to the capabilities of thishigher performance technology, we were able to expand our know-how andcreate a stream of highly effective new products in all areas of activity.

In view of the forthcoming move to digital transmission processes and the grow-ing significance of graphics functions, the first member of a new family of high-performance microcontrollers (ARM™) was introduced by Micronas. On thisbasis, the first products based on our future 0.25µ technology are currently beingdeveloped for the automotive sector.

The smaller dimension of the new semiconductor technologies will allow addi-tional system functions to be developed, for example “on-chip” handling of higher frequency ranges. At the same time, it will enable us to provide furthercost benefits to our customers.

The challenge in the year ahead is to combine the technologies of Micronas andImage and Video, which have a high degree of functional complementarity, tocreate an effective family of products, covering the whole spectrum of TV appli-cations from high-volume analog TV equipment to the complex functions of thenew digital TV transmission standards. At the same time, the ongoing develop-ment 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 startedin May 2000, was on schedule at all stages of construction. The clean room wasqualified in October 2000. The production equipment for the first step in the up-grade, which will increase capacity by 15 percent, was delivered and installed onschedule. Volume production will begin in the second quarter of 2001.

Preparations for a second stage in the expansion program, introducing a newproduction line with 8-inch wafers, are complete. The equipment will be deliv-ered in the first quarter of 2001, and the plant is due to come on stream at theend of 2001.

New technologiesAs of the third quarter of 2000, we have been producing wafers using the new0.45µ technology. This refinement of the existing 0.5µ technology allows up to20 percent more microchips per wafer.

The introduction of 8-inch wafer production, currently under preparation, is animportant prerequisite for future capacity upgrades and new generations oftechnology. In November 2000, we signed an agreement with the IMEC Institutein Belgium to install and licence 0.25µ production technology.

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The main thrust of back-end development in 2000 was expansion of capacity formixed signal testing and the installation of advanced new packaging lines in theassembly department. Besides responding to the rapid growth in volume, thesedevelopments also further enhance the competitiveness of back-end operations.We bought in further SoC (system-on-chip) testing systems, 8-inch wafer testersand multisite pick & place test handling systems, thus increasing production ca-pacity in high-end consumer testing, while improving efficiency and the degreeof automation. Part of the expansion was implemented at the Glenrothes plantin Scotland.

The new high-automation assembly line for the Hall sensor / SMD package start-ed operations according to plan. This will enable us to make significant costsavings, as well as taking account of the very demanding quality specificationsfor automotive applications.

The trend in wafer technology towards ever finer structures and the worldwidestandard for semiconductor production plants led to an extension of the cleanroom for wafer testing, enabling us to make considerable improvements to qual-ity and efficiency.

Management system for environmental protectionAt Micronas, environmental protection is an integral part of all our entrepreneur-ial activity. We are proud, therefore, to be able to announce that the develop-ment of a Management System for Environmental Protection, Industrial Safetyand Fire Prevention which is integrated across all our business areas, was com-pleted at the start of 2000. Micronas GmbH in Freiburg received the certificationfor the system under DIN standards in July 2000. In the reporting year, we alsoreceived AAA certification for outstanding safety standards from ACE InsuranceS.A.-N.V.

Development of the employee baseAt year-end 2000, Micronas had 1466 employees. This represents an increase ofsome 19 percent on the previous year. The expansion is linked to the substantialbroadening of the business activities of the Micronas Group during the reportingyear.

Employees by activity

31105

151

235

944

ProductionResearch and developmentMarketing and salesAdministrationQuality

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To maintain the high level of professional expertise required in the various spe-cialist areas of our company we further intensified our contacts with technicalcolleges and universities during 2000.

Comprehensive quality managementMicronas’ quality management system is certified in accordance with QS-9000and therefore also complies with the international ISO 9001 standard, as well asthe additional requirements of the US automotive industry.

Technology developments in wafer manufacture, the introduction of new pack-ages and the expansion of subcontracted packaging and testing activities re-quired a number of product and process qualifications.

We conducted comprehensive analyses of pilot runs in an effort to improve pro-duction startup, fault detection and output. On-chip repairs on finished ICs allowrapid confirmation of suspected faults and accelerated learning cycles – essen-tial to getting products and technologies to market on time.

Continuing improvement of methods to determine the cause of errors and rapidcorrection cycles have permitted us to remain within the maximum failure ratesstipulated by customers and also to set ambitious new targets for the future.

Successful consumer businessOur consumer business achieved above-average growth in the reporting year.Apart from the general upturn in demand, the new TV and multimedia productsin Korea and the United States had a particular impact on the growth of our busi-ness activity.

Net sales at the end of 2000 were CHF 414.3 million, a 57.9 percent improvementon the previous year.

In the television segment, new technologies such as 100-Hz flicker-free sets, LCDand plasma screens, and multichannel surround sound were well received in themarket.

Since their introduction in 1998, Micronas products have blazed the trail in thearea of MP3 music players, which use electronic storage in place of mechanicalmedia. Compared with the previous year, the volume of chipsets sold increasedby 65 percent. The latest success in the ongoing development process was theimplementation of further digital audio and speech formats. Micronas is a mem-ber of various interest groups whose task is to set important standards for thedistribution, sale and storage of multimedia content.

We serve the PC and set-top box market with building blocks used to make in-put/output devices for audio and video signals. TV functions and mass storagedevices for picture and sound data combined with Internet connections and anefficient operating concept are opening up new market opportunities. The Micro-nas USB chipset permits direct connection of speakers to a PC without a soundcard.

Micronas has structured its sales and marketing organization to be close to itscustomers and provide optimum support at the local level. Integration of theImage and Video business is proceeding along the same lines.

Success in the automotive businessThe automotive business also progressed satisfactorily in 2000. Net sales in-creased by 8.1 percent to CHF 76.0 million.

To achieve further growth in the dashboard controller segment we licensed anew security processor core, which will enable us to meet customers’ perfor-mance and development requirements in the year ahead. Around this core, a newconcept 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 fur-ther applications, products and customer base. Demand is booming in this seg-ment; our position opens up great opportunities. We expect rapid developmentof our product range through collaboration with leading customers and certainlicensors.

In the area of Hall sensors, two very important design advances were achievedin Japan. Both are based on our programmable linear Hall sensor, now market-ed worldwide and achieving excellent sales. The success of this component isdue not least to the fact that it has already won two innovation awards, and inthe current year has been nominated for the most renowned US innovation

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award. We had to make considerable efforts to expand capacity to cope withbooming sales of Hall sensors. Our business with sensors has benefited from astream of new applications. Thanks to the quality of our technology, we havecarved out a special position in this segment which we naturally wish to exploitto the full. As reliability, size and weight are increasingly important considera-tions in vehicle manufacture, Hall sensors are being used more and more, evenreplacing the humble switch.

To reinforce our market presence in southern Europe and North America, weopened new sales and applications offices in Turin and Detroit.

MICRONAS PROFILE

Consolidated figures 2000 1 2000 1 1999 1999

CHF 1000 EUR 1000 CHF 1000 EUR 1000

Net sales 490 319 314 973 332 653 207 610

Cost of sales – 299 984 – 192 705 – 224 058 – 139 835

Margin 190 335 122 268 108 595 67 775

in % of net sales 38.8 38.8 32.6 32.6

Research and development expenses – 46 507 – 29 875 – 34 765 – 21 697

Marketing expenses – 42 958 – 27 596 – 28 287 – 17 654

Administrative and general expenses – 17 185 – 11 039 – 6 557 – 4 092

Other operating income (+)/expenses (–), net 13 635 8 759 7 631 4 763

Operating profit before amortization

of goodwill and gain on disposal

of investment, net 97 320 62 517 46 617 29 095

Amortization of goodwill, net – 2 824 – 1 814 4 716 2 943

Gain on disposal of investment, net 4 957 3 184 0 0

Operating profit 99 453 63 887 51 333 32 038

in % of net sales 20.3 20.3 15.4 15.4

Financial income and expenses, net – 11 906 – 7 648 – 8 074 – 5 039

Income (+)/loss (–) from associates 76 49 0 0

Other income, net 531 341 212 132

Profit/loss before taxes and minority interest 88 154 56 629 43 471 27 131

in % of net sales 18.0 18.0 13.1 13.1

Income taxes – 24 694 – 15 863 – 18 650 – 11 640

Minority interest 0 0 0 0

Net profit/loss for the period 63 460 40 766 24 821 15 491


Total assets 872 738 573 265 422 279 263 151



Average number of employees 1 426 1 426 1 219 1 219

Number of employees at year-end 1 466 1 466 1 229 1 229

1 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 1.6023Balance sheet Year-end rate 1.5224 1.6047

Five-year comparisonMicronas Group

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Consolidated figures 1998 1 1998 1 1997 2 1997 2 1996 1996

CHF 1000 EUR 1000 CHF 1000 EUR 1000 CHF 1000 EUR 1000

Net sales 280 708 175 421 123 066 76 907 62 077 38 793

Cost of materials – 36 215 – 22 632 – 18 610 – 11 630 – 11 823 – 7 388

Subcontracting – 29 073 – 18 168 – 14 885 – 9 302 – 9 647 – 6 029

Personnel expenses – 123 024 – 76 880 – 55 799 – 34 870 – 26 077 – 16 296

Other operating income (+) and

expenses (–), net – 92 778 – 57 979 – 20 630 – 12 892 1 924 1 202

Depreciation and amortization – 50 489 – 31 552 – 19 525 – 12 202 – 7 957 – 4 973

Operating profit/loss – 50 871 – 31 790 – 6 383 – 3 989 8 497 5 309

in % of net sales – 18.1 – 18.1 – 5.2 – 5.2 13.7 13.7

Financial income (+) and expenses (–), net – 5 872 – 3 670 – 1 448 – 905 – 811 – 507

Income (+)/loss (–) from associates 0 0 – 203 – 127 0 0

Amortization of goodwill, net 0 0 – 171 – 107 0 0

Other income, net 456 285 1 733 1 083 958 599

Profit/loss before taxes and

minority interest – 56 287 – 35 175 – 6 472 – 4 045 8 644 5 401

in % of net sales – 20.1 – 20.1 – 5.3 – 5.3 13.9 13.9

Income taxes 11 687 7 303 – 1 028 – 642 – 1 253 – 783

Minority interest – 2 – 1 1 1 – 2 – 1

Net profit/loss for the period – 44 602 – 27 873 – 7 499 – 4 686 7 389 4 617

Capital expenditures 90 379 56 480 78 214 48 878 12 881 8 050

Research and development expenses – 38 278 – 23 921 – 16 881 – 10 549 – 9 995 – 6 246

in % of net sales – 13.6 – 13.6 – 13.7 – 13.7 – 16.1 – 16.1

Total assets 292 027 182 494 382 239 238 870 94 808 59 248

Shareholders’ equity 57 657 36 031 98 170 61 349 57 125 35 699

Cash flow from operating activities – 25 159 – 15 722 80 285 50 172 5 359 3 349

Average number of employees 1 477 1 477 1 615 1 615 399 399

Number of employees at year-end 1 230 1 230 1 620 1 620 387 387

1 Micronas Group 31.12.1998 balance sheet items, excluding Micronas Oy and Analoogdisaini AS 2 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

in % 2000 6 1999 1998 7 1997 8 1996

Return on equity (ROE) 1 33.5 23.0 – 57.2 – 9.7 20.0

Return on assets (ROA) 2 11.6 9.2 – 11.5 – 2.5 11.0

Equity ratio 3 25.3 37.4 19.7 25.7 60.3

Net debt to equity 4 148.6 – 74.5 – 13.9 – 60.3 – 17.4

Current ratio 5 1.8 2.1 1.0 1.1 3.0

Key performance benchmarksMicronas Group

in CHF 1000 2000 1999 1998 1997 1996

Total assets 691 360 564 136 81 093 110 083 55 686

Investments 649 135 50 352 19 595 19 593 18 900

Issued capital 21 460 21 311 16 250 16 250 13 000

Shareholders´ equity 134 904 126 956 44 474 107 384 53 036

Net profit/loss 7 043 – 1 177 – 62 910 3 300 1 184

Dividend paid 0 0 0 0 845

Key figuresMicronas Semiconductor Holding AG

1 ROE = Net profit/loss for the period + Minority interest x 100Shareholders´equity (average) + Minority interest (average)

2 ROA = Net profit/loss for the period + Interest income and expenses, net x 100Total assets (average)

3 Equity ratio = Shareholders’ equity + Minority interest x 100Net 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 100Shareholders’ equity + Minority interest

5 Current ratio = Current assetsCurrent liabilities

6 Micronas Group including Image and Video activities 1.10. – 31.12.20007 Micronas Group 31.12.1998 balance sheet items, excluding Micronas Oy and Analoogdisaini AS8 Micronas Group including Micronas Intermetall 1.10. – 31.12.1997

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31.12.2000

Number of registered shares (nominal value CHF 10) 2 146 040

Number of dividend-bearing shares as at 31.12. 2 136 040

Nominal capital CHF 1000 21 460

EBIT per share 1 CHF 46.56

Earnings per share 2 CHF 29.71

Shareholders’ equity per share CHF 103.20

Share price and market capitalization Swiss Stock Exchange

Share price

High CHF 1 068

Low CHF 404

Year-end CHF 678

Market capitalization 3

High CHF 1000 2 281 291

Low CHF 1000 862 960

Year-end CHF 1000 1 448 235

Share price and market capitalization Neuer Markt Frankfurt

Share price

High EUR 695

Low EUR 245

Year-end EUR 445

Market capitalization 3

High EUR 1000 1 484 548

Low EUR 1000 523 330

Year-end EUR 1000 950 538

1 EBIT per share = Operating profit/lossNumber of shares (average for the year)

2 Earnings per share = Net profit/loss for the yearNumber of shares (average for the year)

3 Calculation based on listed shares as at 31.12.2000

Key share data

Swiss Market IndexPerformance 1.1.2000 to 31.12.2000

270Price in % Micronas AG Swiss Market Index (SMI)

70

90

110

130

150

170

190

210

230

250Ja

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Neuer MarktPerformance 1.1.2000 to 31.12.2000

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Price in % Micronas AG NEMAX All Share

100

150

200

250

300

75

125

175

225

275

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Stock exchange trading

Micronas registered shares are traded on the Swiss Stock Exchange and on

the Neuer Markt in Frankfurt am Main.

Switzerland Germany

Securities number: 441 600 Securities number: 910 354

Ticker symbol: MASN 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 7.8%

Julius Bär Multistock SICAV 6.4%

Shareholder structure at year-end 2000

Number of shares Number of shareholders

> 100 000 2

10 000 – 99 999 21

500 – 9 999 147

1 – 499 6 144

Key dates

Annual General Meeting 6 April 2001 in Zurich, World Trade Center

3-month results 27 April 2001

6-month results 3 August 2001

9-month results 26 October 2001

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.

Management structure and governing bodiesMicronas Group (as at 31.12.2000)

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Subsidiaries and participationsMicronas Semiconductor Holding AG (as at 7.2.2001)

1 0.0021% are hold by Micronas Semiconductor Holding AG, Zurich

Micronas Semiconductor SA

Neuchâtel, Switzerland

100%

Micronas Holding GmbH

Freiburg, GermanyMicronas Finance Ltd.

GuernseyMicronas Semiconductors Inc.

San Jose, USA

100%

Micronas Semiconductor Holding AG

Zurich, Switzerland

Mantel5 GmbH

Munich, GermanyMicronas GmbH

Freiburg, GermanyMicronas Ltd.

Glenrothes, ScotlandMicronas Asia K.K.

Tokyo, Japan

Nanotron GmbH

Berlin, GermanyMicronas Munich GmbH

Freiburg, Germany Hong Kong

100% 99.9979% 1

26.6%

Micronas Halbleiterentwicklungs

GmbH

Vienna, Austria

Micronas Korea Ltd.

Seoul, Korea

100%

100% 100%

100%

100% 100%

100% 100%

innoCom Wireless, Inc.

San Diego, USA

15%

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

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AAC Advanced Audio Coding. An audio compression tech-nology 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 isalready used to receive nearly all German-language radioprograms in CD quality via satellite (Astra).

Analog In comparison with digital technology, which repre-sents electrical signals as a sequence of numbers to be usedfor calculation in signal processing, analog circuits processthe electrical signals directly. Analog technology is consid-ered to be less flexible than digital technology in many re-spects.

Bonder When integrated circuits are packaged in housings,the electrical connectors on the actual IC have to be “bond-ed” to those in the housing. The machines used to do thisare called bonders.

Bus/bus systems In information technology, data is trans-ferred in a predefined way via so-called bus interfaces.Buses can vary according to the specification of the physi-cal transfer path, the data format and the transfer protocol.

CMOS Semiconductor technology that allows the produc-tion of particularly energy-efficient ICs. CMOS is currentlythe dominant technology for the manufacture of complexcircuits.

Compression By compressing digital data, it can be trans-mitted and stored more efficiently. Modern compressiontechniques mean, for example, that music only requiresabout a fifteenth of the capacity originally needed, and vid-eo only about a hundredth.These techniques are the basis of future digital televisionand radio standards and their use will have far-reachingconsequences for the handling of multimedia information.

Controller Also known as microcontrollers (µC). A combina-tion of a microprocessor and a special control circuit on adedicated IC. Microcontrollers are used for the control ofmost electronic and mechanical devices. Examples: instru-ment panels, radios, televisions, washing machines, etc.

Digital TV Digital television or DTV, is a new, much moreefficient method of transmitting television. A digital signalcan transmit more information than an analog signal usingthe same range of frequencies (bandwidth). DTV offers inaddition advantages such as better picture and sound qual-ity, simultaneous transmission of several programs, teletextand interactive services.

Dolby Digital Process for producing television or cinemasurround sound with a clear distinction between backgroundand foreground sounds. The process requires five separateaudio channels and five loudspeakers arranged around thelistener.

Dolby Pro Logic Surround Process for producing surroundsound using several speakers arranged around the listener.

Dolby Virtual Surround Process for producing television orcinema surround in stereo quality that clearly distinguishesbetween background and foreground sounds. Unlike Dolby Digital, however, this process only requires thetwo loudspeakers already present in stereo TVs. This illu-sion only works well if the listener is in a specific positionrelative to the loudspeakers.

Double Scan Process which constructs images twice asquickly as single scan. Used in 100-Hz flicker-free televisions.

DRAM Dynamic Random Access Memory. Most commontype of digital memory. DRAM technology allows highpacking density and a consequently low price.

Flash Freely programmable semiconductor memory whichretains its content even when the power is switched off.This type of memory is used, for example, in microcontrol-ler architecture so that the microcontroller will retain itscharacteristics for as long as is required after a single pro-gramming. This means that if something goes wrong, newcontroller versions (Flash versions) can be introduced veryquickly into a production process.

Foundry Semiconductor plant which does not have its ownproduct development but which manufactures ICs on behalfof and according to the designs of other firms.

Hall effect In a semiconductive platelet, the so-called Hallvoltage is generated by the effect of an external magneticfield acting perpendicularly to the direction of the current.The size of the current is proportional to the strength of themagnetic field.

Hall sensor Solid state semiconductor sensor, which usesthe Hall effect to measure the strength of a magnetic field.

IC Integrated circuit, chip. ICs are electronic componentswhich can consist of several million functions embedded ina monolithic piece of silicon measured in square centime-ters.

GlossarySome of the terms and names used are protected by law and are the property of the owner con-cerned. The trademark and copyright signs that apply to these names and terms do not appearin this glossary.

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LCD Liquid crystal display. Technology used to manufactureflat screens. The screen is made in a similar way to ICs,which is why it is still difficult today to produce large-screendiagonals. This biggest commercially available LCD screenscurrently have a visible diagonal size of 43 cm.

Mixed-signal chip A chip which combines circuits for pro-cessing analog signals and circuits for processing digitalsignals.

MP3 Currently the most popular compression technique formusic. MP3 allows distribution of music over the Internetand has led to the emergence of a new generation of hi-fiequipment.

MPEG Process for compressing films. All new digital TVstandards are based on this process. MPEG allows the trans-mission of between four and ten television programs via asingle television channel.

MSP Multi Sound Processor. A Micronas audio processorthat can decode all worldwide TV audio standards.

NICAM Process for transmitting digital television audio insuperior quality. Used in several European countries sincethe beginning of the nineties.

PIP Picture-in-Picture. Feature of a TV set that allows placinga second or several pictures within the main picture.

Plasma picture tube A new method of manufacturing flatscreens. The advantage of a plasma picture tube is that theindividual pixels actively glow and screens can be manufac-tured with diagonal dimensions of over one meter. How-ever, the manufacturing process is still very expensive. Thefirst products cost more than CHF 15 000.

Product families/families Versions of semiconductor com-ponents on the basis of a common design. Product familiesallow Micronas customers to exchange individual ICs andthus make different products from a single product devel-opment process.

Progressive scan Process which produces a better resolu-tion on a television screen than a single scan. Progressivescanning is used, for example, in television projectionequipment and large-screen TV sets.

Set-top box Equipment which sits with the television to fa-cilitate reception of new-generation services and programs.It seems that forthcoming digital television programs willinitially be received with the help of a set-top box.

Silicon The raw material for silicon can be found in almostlimitless quantities in the form of quartz sand (silicic acid). Itis 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 thepure form required by the semiconductor industry. In thisform, only one foreign atom is present per billion atoms ofsilicon.

Single scan Traditional process for producing an image ona television screen. When televisions were first produced,technical limitations meant that the established speed andresolution of image produced flickering pictures made up ofindividual lines. At the time this was not found disturbing.

SP/DIF A single wire bus established by Sony and Philipsfor transmitting audio data.

Telematics Process for controlling traffic through the use ofnavigation and communication technologies built into cars.

Teletext A broadcasting service that transmits text to a TVset that has a teletext decoder.

TQM Total Quality Management. Method for the systematicinvestigation and comprehensive improvement of a com-pany’s working processes. TQM methods are now usedworldwide in all industries.

USB Universal Serial Bus. In future this will be the way pe-ripheral equipment is connected to PCs. Unlike previousprocedures, USB allows a high rate of data transfer and apractically limitless number of peripherals (printers, scan-ners, cameras, etc.)

VCR Video cassette recorder.

Wafer A thin slice of pure silicon onto which active semi-conducting circuits – integrated circuits or ICs – are builtusing a lithographic process.

WMA Windows Media Audio. An audio compression tech-nology developed by Microsoft.

Yield When used in connection with manufacturing: theratio of the number of usable products to the number ofproduced products.

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Micronas Semiconductor Holding AGTechnoparkTechnoparkstrasse 1CH – 8005 ZurichSwitzerlandPhone +41 1 445 39 60Fax +41 1 445 39 61

Micronas Holding GmbHHans-Bunte-Strasse 19D – 79108 FreiburgGermanyP.O. Box 840D – 79008 FreiburgPhone +49 761 557 5688Fax +49 761 557 5690

[email protected]

This annual report is also available inGerman.

The German version is legally binding.

Concept, editors: Hirzel.Neef.Rasi.Schmid., ZurichDesign: Richard Feurer, Zurich

Project management: JBW Werbeagentur GmbH, ZollikonImages: Yves Netzhammer, Zurich

Photos: Jonas Kuhn, ZurichPrepress: Sota Repro AG, ZurichPrinting: Spefa Druck AG, Zurich

02.01

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ANNUAL REPORT

2000 1999 2000 1999CHF 1000 CHF 1000 EUR 1000 EUR 1000

Net sales 490 319 332 653 314 973 207 610

Net profit 63 460 24 821 40 766 15 491


Research and development expenses 46 507 34 765 29 875 21 697


Equity ratio in % 25.3 37.4 25.3 37.4


Earnings per share 29.71 13.29 19.08 8.29

Equity per share 103.20 74.50 67.79 46.43

Micronas GroupKey figures at a glance

Micronas is an internationally active semiconductor group with holding compa-ny headquarters in Zurich (Switzerland). The group develops, manufactures andmarkets integrated circuits and sensors for the consumer electronics, multimediaand automotive electronics industries. The Micronas strategy is to continue ex-panding its position as a worldwide semiconductor supplier providing video,sound, data and sensor technology, as well as to use new technological develop-ments to exploit opportunities for long-term business success.

Micronas Group’s operational center is located in Freiburg im Breisgau (Ger-many). Production and the coordination of sales and marketing activities are con-centrated there. Research and development are located in Freiburg im Breisgauand Munich/Villach. Micronas also has a test center in Scotland and an in-housesales network throughout Europe, the USA and Asia.

The Micronas Group goes back to 1989. After the company was floated on theSwiss Stock Exchange in 1996, since 1999 its shares have also been listed on theNeuer Markt in Frankfurt. Micronas currently employs around 1400 people.

Micronas GroupPortrait in brief

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