Süss MicroTec AG: Figures Released for the 2007 Fiscal Year

Süss MicroTec AG: Figures Released for the 2007 Fiscal Year

Süss MicroTec AG / Final Results

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SUSS MicroTec AG: Figures Released for the 2007 Fiscal Year 

  - Order Entry of EUR 149.7 Million (Previous Year: EUR 153.8 Million)

  - Sales of EUR 145.6 Million (Previous Year: EUR 155.5 Million)

  - EBIT of EUR 6.0 Million (Previous Year: EUR 16.0 Million)

Munich, Germany, March 28, 2008. SUSS MicroTec AG (business address:
Schleissheimer Straße 90, 85748 Garching, Germany; ISIN: DE0007226706),
which is listed in the Prime Standard of Deutsche Börse AG, released its
Group annual financial statements for the 2007 fiscal year today. The
Munich-based high-tech company generated sales of EUR 145.6 million
(previous year: EUR 155.5 million) as of December 31, 2007 and therefore
falls short of its sales and earnings forecast originally communicated at
the start of the fiscal year.

Delayed final acceptance of tools delivered, primarily in the Substrate
Bonder division, resulted in these orders no longer being included in the
sales figures in 2007. In addition, the unfavorable exchange-rate
developments of the US dollar and the Japanese yen contributed to the
Group’s drop in sales.

The low level of investment activity of customers as well as both the
strong euro and the additional costs for the C4NP tool sets, which have
still to be delivered to IBM, had a negative effect on earnings. Against
this background, the gross profit margin shows a drop from 44.8% in the
2006 fiscal year to 41.8% in the 2007 fiscal year. Gross profit fell from
EUR 69.6 million to EUR 60.9 million in the reporting period which
corresponds to a drop of -12.5%. Earnings before interest and taxes (EBIT),
at EUR 6.0 million (previous year: EUR 16.0 million), remain at the lower
end of expectations which were already revised on October 29, 2007.

Earnings after taxes (EAT) are now EUR 4.5 million, having been EUR 14.9
million in the previous year. As a result, basic earnings per share (EPS)
decreased by EUR 0.62 to EUR 0.26 (previous year: EUR 0.88).

Order entry was EUR 149.7 million (previous year: EUR 153.8 million) in the
fiscal year that just ended, with extraordinarily high order entry in the
fourth quarter of EUR 54.2 million – the second highest in the history of
the Company – having a significant impact.

Liquidity development in 2007 was characterized by a significantly reduced
inflow from operating business compared with the previous year. As a result
of the increase in investments from EUR 7.3 million in the previous year to
EUR 9.2 million, there was a negative free cash flow of EUR -7.7 million
(previous year: EUR +7.2 million). Liquid funds were EUR 20.1 million as of
the end of the 2007 fiscal year, following the issuance of a promissory
note bond with a nominal value of EUR 9.0 million. The net cash position
was reduced to EUR 7.6 million (previous year: EUR 14.7 million; -48.3%) as
of the end of 2007.

Division Overview:

LITHOGRAPHY: Despite the overall weaker development of business in 2007,
the most important division in the Group (percentage of sales: 58%) was
able to record renewed – if only low – growth with regard to order entry
(EUR 86.8 million after EUR 86.1 million; + 1.0%). After a restrained first
half of 2007, the Mask Aligner in particular contributed to growth in the
third and fourth quarters of the 2007 fiscal year. However, the division’s
sales (EUR 83.8 million after EUR 92.1 million; -9.0%) as well as its
earnings (EUR 13.7 million after EUR 18.5 million; -25.9%) showed a
downward trend. A significant part of this was accounted for by Coater
sales, which had been extremely strong overall in 2006, but were negatively
affected in 2007 by the unfavorable exchange rate development along with an
anticipated low level of investment activity from important customers.

SUBSTRATE BONDER: The division of SUSS MicroTec Group with the strongest
growth was again able to increase its order entry (EUR 19.8 million after
EUR 16.6 million; + 19.3%) as well as its sales (EUR 16.3 million after EUR
14.1 million; +15.6%) in the 2007 fiscal year. Against the background of
the continuing high intensity of research and development, the division’s
earnings deteriorated from EUR -0.5 million to EUR -1.0 million (-50.0%).
Prospects in the medium and long term for Wafer Bonding applications appear
highly positive, with the emergence of new markets, e.g. 3D integration.

DEVICE BONDER: The smallest division of SUSS MicroTec Group recorded an
order entry of EUR 3.5 million after EUR 9.2 million (-62.0%) as well as
sales of EUR 6.4 million after EUR 7.1 million (-9.9%) in the 2007 fiscal
year. A significant factor for the drop was the sale of the division as
part of a management buyout (MBO), the result of which is that orders were
only entered at SUSS MicroTec up to and including July 16, 2007 and sales
in the division were only recorded from customer orders received up until
the cutoff date. The discontinued division achieved, as in the previous
year, positive earnings of EUR 1.0 million.

TEST SYSTEMS: Accounting for approximately one fifth of sales, the
second-largest and comparatively low-cyclical division showed as stable a
development as possible in 2007. Order entry increased in the 2007 fiscal
year by 11.2% from EUR 26.9 million to EUR 29.9 million. Sales, at EUR 27.8
million, did not reach the previous year’s level of EUR 30.2 million. The
division’s earnings, at EUR 0.4 million, were significantly worse than in
the previous year (EUR 3.3 million; -87.9%). The unfavorable exchange rate
development as well as increased sales costs in Asia had a negative effect.

OTHERS: Along with the Mask business for the semiconductor industry (Palo
Alto, California, USA), the Others division is comprised of Microoptics
(Neuchatel, Switzerland), the C4NP business segment and the holding
functions. Microoptics was able to increase its sales in 2007 by 6.1% to
EUR 3.5 million. The C4NP business sector recorded sales of EUR 1.3 million
for the first time in the 2007 fiscal year. However, in the Mask business,
the sales contribution decreased from EUR 8.7 million in the previous year
to EUR 6.3 million. The division’s negative earnings in 2007 (EUR -6.1
million after EUR -4.5 million; -35.6%) is essentially the result of the
expenses for the Group holding and C4NP.

2008 Guideline

After a reversal in the 2007 fiscal year characterized by lower sales, we
expect a moderately positive development in 2008 contrary to general trends
in the semiconductor market. Against this background, we expect – despite
the sold of the Device Bonder division – to be able to achieve sales at
least at and a gross profit margin on the level of the reporting year.

 

2007 Financial Overview:


Information in EUR million             FY 2007   FY 2006    Change
Order entry                            149.7     153.8      -2.7%
Order backlog as of 12/31              77.5      78.5       -1.3%
Sales                                  145.6     155.5      -6.4%
Shareholders’ equity                   102.6     99.2       +3.4%
Equity ratio %                         62.9%     63.0%      -0.1% points
Free cash flow                         -7.7      +7.2       -
Net cash                               7.6       14.7       -48.3%
Gross profit                           60.9      69.6       -12.5%
Gross profit margin %                  41.8      44.8%      -3.0% points
EBITDA                                 10.6      22.2       -52.3%
EBITDA  margin %                       7.3%      14.3%      -7.0% points
EBIT                                   6.0       16.0       -63.0%
EBIT margin %                          4.1%      10.3%      -6.2% points
Earnings after taxes                   4.5       14.9       -69.8%
Earnings per share, basic (in €)       0.26      0.88       -70.0%
Employees as of 12/31                  731       760        -3.8%


The 2007 annual report is available for downloading at www.suss.com End of Ad Hoc Announcement Contact: SÜSS MicroTec AG Investor Relations/PR Julia Hartmann Tel.: +49 (0)89 32007-161, Email: julia.hartmann@suss.com 28.03.2008 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: Süss MicroTec AG Schleissheimer Strasse 90 85748 Garching b. München Deutschland Phone: +49 (0)89 32007-454 Fax: +49 (0)89 32007-450 E-mail: ir@suss.com Internet: www.suss.com ISIN: DE0007226706 WKN: 722670 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------