SÜSS MicroTec SE / Key word(s): Preliminary Results
Preliminary earnings before interest and taxes (EBIT) amount to minus EUR 11.5 million.
This includes special write-downs of EUR 13.1 million on inventories at the subsidiary SMT Photonic Systems Inc.
Due to revised market expectations for the scanner and laser product lines, which are manufactured at the Corona site, the Management Board has decided to discontinue these product lines and thus to discontinue production in Corona, subject to the approval of the Supervisory Board.
Without this special effect, the preliminary EBIT for the 2019 financial year would be around EUR 1.6 million. The EBIT margin before this special effect is expected to be 0.7 %, which is well below the expected range of 4 % - 5 %. The reason for this decline in earnings is an increase in the cost of goods sold and higher administrative and development costs.
For the 2020 financial year, further non-recurring charges in the higher single-digit millions are expected due to the planned closure of production at the Corona site in the first quarter.
As planned, the company will publish the final figures for the 2019 financial year together with the annual report on 2 April 2020.
SÜSS MicroTec SE
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 89 32007-161
Fax: +49 (0)89 32007-451
|Company:||SÜSS MicroTec SE|
|Schleissheimer Strasse 90|
|Phone:||+49 (0)89 32007-161|
|Fax:||+49 (0)89 32007-451|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||961607|
|End of Announcement||DGAP News Service|