DGAP-News: SÃSS MicroTec AG / Key word(s): Half Year Results
Half Year Figures for 2014 Published
07.08.2014 / 07:24
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Half Year Figures for 2014 Published
- Q2 Order intake of EUR 36,2 million within guidance
- EBIT reaches EUR 3.4 million in the first half of 2014
- Improved Guidance for 2014
- Publication of order entry expectation for the second half of 2014
Garching, August 7, 2014 - SUSS MicroTec published its report for the first
half of the fiscal year 2014 today. When looking at the second quarter
only, order intake reached EUR 36.2 million, which is 45% higher than in
the first quarter and 1.4% below the EUR 36.7 million in the corresponding
quarter 2013. Sales in the second quarter reached EUR 30.4 million after
EUR 24.9 million a year ago.
Looking at the first half year of 2014, SUSS MicroTec achieved an order
intake of EUR 61.2 million after EUR 71.6 million in the previous year.
After the closure of the product line permanent bond cluster systems, the
Substrate Bonder division achieved an order intake of EUR 6.5 million (H1
2013: EUR 17.2 million). Order intake in the Lithography segment decreased
by 21%. In the Photomask Equipment segment order entry came in at EUR 9.1
million after EUR 3.4 million one year ago. Total sales came in at EUR 69.4
million, which is 26.2% above the EUR 55.0 million of the previous year.
Thus, order backlog amounted to 77.7 EUR million at June 30, 2014 (June 30,
2013: 102.5 EUR million).
The Group's largest division, Lithography, recorded an 18% increase in
sales in the first half of the year to EUR 43.8 million (previous year: EUR
37.1 million). The Photomask Equipment division indicated a lower
contribution to sales of EUR 7.8 million (previous year: EUR 9.2 million).
This corresponds to a decrease of approximately 15%. The Substrate Bonder
division was able to contribute sales of EUR 15.2 million in the first half
of the year (previous year: EUR 6.6 million). Sales in the Others division
increased from the previous year to EUR 2.7 million (previous year: EUR 2.0
million).
The gross profit margin for SUSS MicroTec Group increased in the first half
of the year to 32.3% (H1 2013: 12.4%). Besides the elimination of one-time
costs for restructuring the Substrate Bonder division, the segments
Lithography, Photomask Equipment and Substrate Bonder displayed a better
performance and contributed positively to the gross margin.
Earnings before interest and taxes (EBIT) of EUR 3.4 million were higher
than the EUR -15.0 million of the previous year. However, EBIT for the
first half of 2013 included an extraordinary effect of EUR -6.0 million
from refocusing the Permanent Bonding product line. As a result, adjusted
EBIT for the first half of 2013 was EUR -9.0 million. There were no notable
extraordinary effects in the first half of 2014.
Earnings after taxes (EAT) for continuing operations amounted to EUR 2.0
million, compared to EUR -11.6 million in the previous year. Basic earnings
per share (EPS) amount to EUR 0.11 (previous year: EUR -0.61).
The Operating Cash Flow amounted to EUR -1.2 million after EUR -10.6
million in 2013. The Free Cash Flow for the first half year 2014, before
the effects of the purchase or sale of interest bearing securities,
amounted to EUR -2.4 (previous year: EUR -12.4 million). Cash and interest
bearing securities amounted to EUR 44.1 million at the end of the first
half year (June 30, 2013: EUR 23.5 million). Net liquidity amounted to EUR
33.3 million, which is below the EUR 35.7 million at December 31, 2013
(June 30, 2013: EUR 19.5 million).
Outlook
The management board of SUSS MicroTec AG reiterates the sales guidance for
the fiscal year 2014 and expects sales to be in the bandwidth of 135 - 145
EUR million. At the same time the expectation for the full year EBIT has
improved from the minus 5 to 0 EUR million bandwidth to a "slightly
positive" EBIT in 2014. The major reason for the higher EBIT expectation is
the improved earnings situation in the first half of 2014, which was partly
driven by the positive impact of the restructuring and cost saving
measures, which were taken in 2013.
For the third quarter of 2014, the Company expects an order entry within
the range of 25 - 35 EUR million. Due to an expected upswing in demand from
customers during the course of the year, the Management Board considers it
possible that order entry will return to the 30 to 40 EUR million range in
the fourth quarter of 2014.
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 AG
Franka Schielke
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 (0)89 32007-161
Fax: +49 (0)89 32007-451
Email: franka.schielke@suss.com
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Language: English
Company: SÃSS MicroTec AG
Schleissheimer Strasse 90
85748 Garching
Germany
Phone: +49 (0)89 32007-161
Fax: +49 (0)89 32007-451
E-mail: ir@suss.com
Internet: www.suss.com
ISIN: DE000A1K0235
WKN: A1K023
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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281240 07.08.2014
DGAP-News: Half Year Figures for 2014 Published
| Source: EQS Group AG