SUSS MicroTec publishes Quarterly Report for Q1 2021

 

SUSS MicroTec publishes Quarterly Report for Q1 2021

- Order entry goes up further and reaches € 81.0 million after € 69.0 million in Q1 2020

- Sales increased by 26.1% to € 52.6 million

- Positive quarterly EBIT comes in at € 1.4 million after minus € 5.6 million in Q1 2020

- Free cash flow also positive at € 9.1 million after minus 8.3 million one year ago

Garching, May 12, 2021 - SUSS MicroTec SE, a leading manufacturer of systems and process solutions for the semiconductor industry and related markets, published its quarterly report for the period of January 1 to March 31, 2021, today.

Smart devices, smart homes and smart factories as well as the internet of things, increasing mobility, artificial intelligence, computer games and the whole subject of sensor technology (MEMS) are important growth trends for us. Additionally the COVID-19 pandemic has accelerated the developing megatrend towards mobile working and home office. Equipping home offices with laptops and computers, fast data connections and high-quality and secure image-, sound- and data-transmissions are important drivers of the demand for our equipment. In addition, the expansion of the production capacities for 5G-compatible electronic components is another reason for the increasing demand for our tools. This sustained trend is clearly reflected in the once again very good order entry figures for the first quarter 2021.

In the months of January to March 2021, new orders worth € 81.0 million were won (2020: € 69.0 million). The increase is mainly due to the strong demand for Lithography tools, especially for mask aligners and coaters/developers. The order backlog as of March 31, 2021 was € 148.2 million (March 31, 2020: € 120.8 million).

Sales in the first quarter reached a value of € 52.6 million, which is 26.1% above the previous year's figure (2020: € 41.7 million). The increase in sales was evident in all segments, with the exception of bonders, which showed a slight decrease in sales, but with a low overall sales volume in that quarter. The sales decrease in the bonder segment is due to a postponement of tool deliveries into the second quarter.

Earnings before interest and taxes (EBIT) amounted to around € 1.4 million in the first quarter of 2021 and were thus well above the previous year's figure of minus € 5.6 million. This results in an EBIT margin for the first quarter of 2021 of 2.7% (2020: -13.4%). The first quarter of 2020 includes a negative special effect from the closure of the production site in Corona, USA. The closure costs for this facility totaled
€ 3.7 million in the first quarter of 2020, of which € 1.7 million were reported under sales, administration and development costs. There was no comparable special effect in the first quarter of 2021.

Earnings after taxes (EAT) increased accordingly from minus € 5.4 million to € 0.8 million. The undiluted earnings per share (EPS) are € 0.04 (2020: € -0.28). The free cash flow amounted to € 9.1 million at the end of the first quarter of 2021, after minus € 8.3 million in the previous year. The net liquidity at the end of the first quarter was € 39.2 million (2020: € -19.6 million).

 

Outlook
After a strong order entry in the fourth quarter 2020 and in the first quarter of 2021, we are very optimistic about the 2021 financial year - subject to the fact that the COVID-19 pandemic continues to bring certain uncertainties. We expect an ongoing high demand for our products and holistic solutions by our customers in the markets that are relevant to us.

At the end of the first quarter 2021, we had a strong order backlog of around € 148 million. For the full year 2021, we to expect an increase in order entry and an increase in sales in a range of
€ 270 million to € 290 million. Earnings before interest and income taxes (EBIT) should develop positively, too. We continue to forecast an EBIT margin in a range of 9.0% to 11.0%.

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
Investor Relations
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 (0)89 32007-161
Fax: +49 (0)89 32007-451
Email: franka.schielke@suss.com