Strong demand results in record high order backlog and continued good results
Mycronic reports a strong first half-year with regard to the order intake, sales
and earnings. Sales increased 37 percent. EBIT reached SEK 137 million, which
corresponds to an operating margin of 17 percent. The Group is entering the
second half-year with a record high order backlog of SEK 1,828 million. Demand
for mask writers is favorable for both production capacity and for advanced
photomasks for future electronics products. At the same time, the Group has
focused on future growth through product development, primarily within SMT, and
through launches within both business areas.
Second quarter April-June 2016
· Order intake was SEK 775 (311) million
· Net sales were SEK 463 (285) million
· EBIT was SEK 106 (1) million
· Earnings per share was SEK 0.83 (0.01)
First half-year January-June 2016
· Order intake reached SEK 1,569 (782) million
· Net sales reached SEK 807 (589) million
· EBIT was SEK 137 (27) million
· Earnings per share was SEK 1.08 (0.20)
Outlook
The Board’s assessment remains, that sales in 2016 will be at the level of SEK
1,900 million.
CEO comments
During the first half of the year, Mycronic saw strong demand for the Group’s
products within the electronics industry, primarily due to a good photomask
market. The Group reports a strong first half-year with regard to order intake,
sales and earnings. Sales increased 37 percent compared with the first half of
2015, and the operating margin reached 17 percent. We are now entering the
second half year with a record high order backlog and we see continuing high
levels of activity on the market and amongst our customers.
The global market for SMT equipment experienced a negative trend in 2015, while
Mycronic maintained its volumes and margins. In 2016, the slowdown has affected
us and demand for SMT equipment remains difficult to assess. Hence, it is
essential that we invest in product development to secure our competitive
edge. We have introduced equipment for dispensing of several different mounting
fluids. Our Jet Dispenser builds on the unique jet printing platform and is
considerably faster than other existing solutions. The equipment targets new
segments within the surface mount market. We have broadened our product offering
and created opportunities for a position shift. The first systems reached
customers during the second quarter.
During the period, Mycronic acquired RoyoTech, the German company that developed
the strategic storage solutions which have long been an integrated part of
Mycronic’s offering for the smart factory, Mycronic 4.0.
During the first half-year, we received orders for eight mask writers for
various applications, of which several were advanced systems. We received the
first order for a measuring system for quality assurance of the most advanced
photomasks, which is becoming increasingly important as more photomasks are
produced for products where the display is central. Our replacement offering has
proven to be in line with customers’ requirements to ensure long-term high
productivity for photomask manufacturing. During the second quarter we launched
the Prexision-800, a mask writer for the most complex photomasks, which ensures
effective production of photomasks for the 4K phones and advanced AMOLED
displays of the future.
In short, during the first half of 2016, we continued delivering results at a
fast pace while simultaneously executing our strategy for growth.
Lena Olving
CEO and President
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 developing, manufacturing
and marketing of production solutions to the electronics industry. Mycronic
headquarters are 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 the
company website www.mycronic.com.
Mycronic AB (publ) is listed on NASDAQ Stockholm, Mid Cap: MYCR.
The information in this report is published in accordance with the EU Market
Abuse Regulation and the Swedish Securities Act. The information was submitted
for publication, through the contact persons stated above, on 13 July, 2016, at
8 am.
