SÜSS MicroTec SE: SUSS MicroTec publishes preliminary, unaudited figures for fiscal year 2019

SUSS MicroTec SE publishes preliminary, unaudited figures for fiscal year 2019

SÜSS MicroTec SE / Key word(s): Preliminary Results
SÜSS MicroTec SE: SUSS MicroTec publishes preliminary, unaudited figures for fiscal year 2019

27-Jan-2020 / 20:45 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
 


  • Order intake significantly above expectations
  • Sales at the upper end of the guidance
  • Earnings before interest and taxes (EBIT) significantly below previous expectations - special effects from the write-down of inventories for the scanner and laser product lines at the Corona (USA) location also have an impact


Garching, January 27, 2020 - SUSS MicroTec today announced preliminary sales and earnings figures for the 2019 fiscal year. Sales in the 2019 financial year are expected to reach a value of around EUR 215 million. Revenue is thus at the upper end of the previously expected range of EUR 200 to 215 million. Order intake in the second half of the year amounted to EUR 127 million, well above expectations of more than EUR 95 million.

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.



Contact:
SÜSS MicroTec SE
Sabine Radeboldt
Investor Relations
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 89 32007-161
Fax: +49 (0)89 32007-451
Email: sabine.radeboldt@suss.com

27-Jan-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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