Operator
Good morning, ladies and gentlemen, and welcome to the Elmos Semiconductor SE Conference Call regarding the results of Q3 2025. [Operator Instructions]
Let me now turn the floor over to your host, Dr. Arne Schneider, CEO.
Arne Schneider
CEO & Member of the Management Board
Ladies and gentlemen, good morning from Leverkusen, and welcome to the Elmos conference call for the third quarter 2025. Thank you very much for your participation and your interest in our company.
Ladies and gentlemen, Elmos showed a very robust performance in the third quarter of 2025 with improving profitability and strong cash flows, while the top line development was somewhat impacted by revenue shifts from Q3 into Q4 due to the SAP transition. In parallel, we are driving forward our operational and strategic agenda to even better position the company for future profitable growth and higher cash flows.
Let me start with an update about the current market environment. The destocking activities in the automotive semiconductor market are gradually decreasing, more and more customers return to normal order levels, and our Q3 book-to-bill ratio was well above 1. Nevertheless, visibility remains somehow low, and our customers still order at least some of them on a very short notice. Actually, especially in China, which is kind of the global headquarter of short-term ordering. This order pattern requires a high degree of flexibility and reaction speed from chip suppliers. But as an agile tables player, you have a clear advantage here.
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