SUSS MicroTec publishes first preliminary figures for the 2021 financial year and adjusts the EBIT forecast
* Order entry rises by 20% to a record level of around EUR 336 million
* Sales increase by 3.5 % to approx. EUR 261 million
* Range for EBIT forecast will be adjusted to 8.0 % to 9.5 %
Garching, January 12, 2022 - SUSS MicroTec today publishes the preliminary figures for order entry, sales and free cash flow for the entire 2021 financial year based on initial calculations. Order entry reached a new record level in 2021 and rose by approx. 20 percent compared to the previous year to a level of around EUR 336 million (previous year: EUR 281.1 million). All product lines were able to benefit from the ongoing strong customer demand, especially the product lines Bonder, Photomask Equipment, Mask Aliger and the SUSS MicroOptics business.
Preliminary sales for the year as a whole increased by 3.5 % over the previous year to around EUR 261 million (previous year: EUR 252.1 million). As a result, the expected sales level cannot be achieved and is below the previously published range of EUR 270 million to EUR 290 million for the full year 2021.
The main reason for falling short of our own sales expectations for 2021 are bottlenecks in the supply chain, which, despite forward-looking purchasing measures and stockpiling, had an increasingly negative effect on the business of SUSS MicroTec, especially in December. Due to undelivered supplier parts, several machines could not be completed and delivered by year end. These machines will be delivered during the course of the financial year 2022. In addition, individual customers have asked for deliveries to be postponed into the first quarter of 2022 at short notice due to the recently enormous increase in freight costs.
Based on initial estimates, management expects that the lower sales level will have a correspondingly negative impact on the development of earnings and the EBIT margin because of an increased cost base due to the growth-related capacity expansion, which cannot be offset as planned. The estimate for the EBIT margin is therefore adjusted to a range of 8.0 % to 9.5 %. The estimate published so far ranged from 9 % to 11 %.
The free cash flow is still expected to be in a range of EUR 12 million to EUR 18 million.
The full annual financial report with final sales, earnings and incoming orders will be published on March 31, 2022.
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.
SUSS MicroTec SE
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 (0)89 32007-161