Publication of the quarterly figures for the first nine months of 2020

- Order intake increased by 31% to € 206.7 million compared to the previous year

- Sales after nine months increased by 33% from € 131.1 million to € 173.9 million

- EBIT improves from € -5.7 million to € 12.2 million

- EBIT margin after three quarters reaches 7.0% (previous year -4.3%)

- Net cash position rose to € 15.0 million (previous year € -6.6 million)

- Free cash flow reached € 27.8 million after € -28.7 million in the previous year

Garching, November 10, 2020 - SUSS MicroTec, a leading manufacturer of systems and process solutions for the semiconductor industry and related markets, publishes its quarterly report for the period from January 1, 2020 to September 30, 2020.

The positive development of the first half of 2020 continued in the third quarter of 2020, despite the uncertainties caused by the Covid 19 pandemic. One reason for the positive development is the increasing digitization of our communication, which means that the need for high-performance data networks is growing rapidly. The need for area-wide network coverage with high bandwidth and thus high transmission speeds is becoming comprehensively visible and is driving the move to the 5G communications standard worldwide. The expansion of the production for 5G-compatible components is one of the big drivers for the increased demand for our production machines, especially for coaters and mask aligners.

Sales of € 60.6 million in Q3 2020 are € 23.5 million or 63.3 percent above the € 37.1 million of the same quarter of the previous year. The EBIT reached a value of € 9.0 million in Q3 2020 and is thus € 13.9 million above the € -4.9 million in the same quarter of the previous year. The EBIT margin in Q3 2020 is 14.9 percent after -13.2 percent in the same quarter of the previous year.

The good order situation at the beginning of 2020 as well as the continued high demand led to the considerable increase in sales compared to the same period of the previous year. In the first three quarters of 2020, incoming orders rose from € 157.8 million in 2019 to € 206.7 million. This corresponds to an increase of 31.0 percent compared to the previous year. At the end of the third quarter, the order backlog amounted to € 125.8 million and was well above the € 115.3 million of the previous year. Sales in the first nine months increased by 32.6 percent compared to the previous year and reached a value of € 173.9 million.

The consistently high capacity utilization in production, a lower level of sick leave and the measures to increase efficiency in production enabled the significant increase in EBIT compared to the previous year. After nine months of 2020, EBIT was € 12.2 million and thus significantly above the value of the previous year (9M / 2019: € -5.7 million). The EBIT margin increased from minus 4.3 percent in 2019 to 7.0 percent. Earnings after taxes (EAT) improved compared to the previous year to € 4.9 million
(9M / 2019: € -8.7 million). The undiluted earnings per share (EPS) are 0.26 € (previous year: -0.46 €). The closing costs for the US location in Corona totaled € 5.0 million in the first nine months. These costs are included in the result.

The free cash flow at the end of the third quarter of 2020 amounted to € 27.8 million after minus € 28.7 million in the previous year. At the end of the third quarter, net cash was € 15.0 million (9M / 2019: -6.6 million €).

Outlook

Given the good results after nine months as well as the positive outlook for the fourth quarter 2020, we maintain our expectations for sales in the range from € 240 million to € 260 million, but we are now assuming an improved EBIT margin in the range between 5.5 percent and 7.5 percent. Previously, the range for the EBIT margin was estimated at 3 percent to 5 percent. For the fourth quarter 2020 and the first quarter 2021 we expect a cumulated order entry in the range of € 100 to € 110 million. With this forecast, the company assumes that the just recently intensified global measures to contain the COVID-19 pandemic will not have any further negative effects.

Legal Disclaimer
All statements in this release other than historical facts are forward-looking statements within the meaning of U.S. Private Securities Litigation Reform Act of 1995. Words such as "believe", "expect", "intend", "anticipate", "estimate", "should", "may", "will", "plan" and similar words and terms used in relation to the enterprise are meant to indicate forward-looking statements of this kind. The company accepts no obligation toward the general public to update or correct forward-looking statements. All forward-looking statements are subject to various risks and uncertainties, as a result of which actual events may diverge numerically from expectations. The forward-looking statements reflect the view at the time they were made.

 

Contact:
SUSS MicroTec SE
Franka Schielke
Head of IR
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 89 32007-161
Fax: +49 89 32007-451
Email: [email protected]