First quarter January-March 2015
· Order intake was SEK 471 (287) million
· Order backlog was SEK 869 (193) million
· Net sales were SEK 304 (242) million
· EBIT was SEK 26 (3) million
· Earnings per share were SEK 0.19 (0.01)
Outlook
The Board’s assessment is that sales in 2015 will be in the span SEK 1,650-1,750
million.
Stable start to the year
“This year opened well for Mycronic, even without any mask writer deliveries
during the first quarter. Demand for our products has been favorable and we are
leaving the quarter with a record high order backlog,” says Lena Olving, CEO and
president of Mycronic AB.
The electronics industry continues to grow. In 2014 the industry grew 3.5
percent. Growth is expected to continue at this pace for several more years.The
semiconductor industry also grew in 2014, which created a rising need for SMT
equipment. The global market for SMT equipment has recovered after the negative
trend of the last couple years and grew by 22 percent in 2014.
Mycronic's launches of production solutions for effective electronics production
has led to increases in the order intake and sales, and has strengthened
Mycronic's market position. At the end of February, Mycronic launched the latest
improvements in functionality within SMT.
During the first quarter, Mycronic received orders for three mask writers within
PG, one of which was the first based on the replacement strategy for older mask
writers for the manufacture of displays. Demand for photomasks remains healthy,
which leads to stabilization of prices and manufacturers' profitability is
either maintained or improved. This, together with the high degree of utili
-zation on Mycronic's mask writers installed at customer sites, indicates
possibilities for further investments in capacity as well as for new, more
advanced equipment.
“Sales in our partially cyclical business are usually some-what lower during the
first quarter than during the rest of the year. Sales have been positively
affected by ex-change rates in the amount of SEK 49 million, especially the US
dollar. The EBIT margin of 8 percent is also partly explained by the currency
effects. But we have also done a lot to increase internal efficiency throughout
the Group. We continue to invest in development of new products for customers'
changing needs, and in strengthening the sales organization for growth in, for
example, Asia. Thanks to our strong product offering, we can deliver strong
results and simultaneously invest in the future,” Lena Olving concludes.
Contacts at Mycronic:
Lena Olving
CEO and President
+46 8 - 638 52 00
lena.olving@mycronic.com
Per Ekstedt
CFO
+46 8 - 638 52 00
per.ekstedt@mycronic.com
About Mycronic
Mycronic AB is a high-tech Swedish company engaged in the development,
manufacturing and marketing of production equipment to the electronics industry.
Mycronic headquarters is located in Täby, north of Stockholm and the Group has
subsidiaries in China, France, Germany, Japan, Singapore, South Korea, Taiwan,
the Netherlands, United Kingdom and the US. For more information, see our web
site at www.mycronic.com.
Mycronic AB (publ) is listed on NASDAQ Stockholm, Mid Cap: MYCR.
