Süss MicroTec AG: Final Figures for 2010 Fiscal Year Published

Süss MicroTec AG: Final Figures for 2010 Fiscal Year Published

Süss MicroTec AG / Key word(s): Final Results

30.03.2011 / 08:29

Final Figures for 2010 Fiscal Year Published

- Order Intake at EUR 189.3 million, which is 97 % above prior year

- Sales plus 34 % to EUR 139.1 million

- EBIT quintupled to EUR 14.3 million

- Net liquidity increased to EUR 34.6 million

Garching, March 30, 2011 - SUSS MicroTec AG published its consolidated financial statements for the 2010 fiscal year today. The figures show that the company experienced a clear increase in both sales and order entry in the past fiscal year. Excluding the discontinued Test Systems division and including HamaTech APE, consolidated since March 2010, the SUSS MicroTec Group generated sales of EUR 139.1 million, beating the previous year's level of EUR 103.9 million by approximately 34%. Order entry increased significantly by 97% year on year to EUR 189.3 million (previous year: EUR 96.3 million).

The group's core division - Lithography - posted a 15% increase in sales to EUR 88.9 million (previous year: EUR 77.6 million) during the year under review. The Substrate Bonder division also succeeded in growing its revenues by approximately 35% to EUR 24.7 million (previous year: EUR 18.3 million). The upswing in Lithography was largely due to the end of the general reluctance to make new investments as well as the increased demand from Asian production customers. The Substrate Bonder division benefited from the increasing importance of bonding equipment in the manufacturing process of MEMS, LED and future three-dimensional chip structures (3D integration). The Photomask Equipment division, acquired in early 2010, already contributed sales of EUR 18.4 million.

Due to the sharp increase in sales, coupled with only moderate cost increases, the company was able to generate earnings before interest and tax (EBIT) of EUR 14.3 million for the last fiscal year, meaning a quintuplication from the previous years' level of EUR 2.8 million. This translates into an EBIT-margin of 10.3%. The largest EBIT contribution came again from the Lithography division, but the new Photomask Equipment division also contributed positively to the EBIT. Only the division Substrate Bonder, burdened with restructuring expenses as well as strategically important orders with low margins, shows a negative result for 2010.

Earnings after taxes (EAT) from continuing operations amounted to EUR 13.0 million, compared to EUR 0.5 million in the previous year. The basic earnings per share (EPS), therefore, totaled EUR 0.71 (previous year: EUR 0.03).

Cash and interest bearing securities amounted to EUR 50.1 million at the end of the 2010 fiscal year. Net liquidity has increased significantly by the end of 2010, amounting to EUR 34.6 million (December 31, 2009: EUR 18.4 million). The Free Cash Flow for the fiscal year, before security transactions and extraordinary effects as well as M&A transactions, was EUR 14.1 (previous year: EUR 8.9 Million).

After three consecutive strong quarters in fiscal year 2010, the company again anticipates a strong order entry totaling approximately EUR 45 million for the first three months of 2011. For the first half year of the fiscal year 2011 the company expects sales of more than EUR 80 million. For the first three months of the current fiscal year sales are expected to be below EUR 35 million. The reason for this rather low sales figure is the current restructuring and relocation activity at the Sternenfels site, which lead to operational shortcomings in the first quarter. Additionally the company, as well as other companies, is currently faced with increased lead times from some suppliers. All in all, the Management Board expects sales of more than EUR 170 million for the current fiscal year, 2011. The Company also expects the EBIT-margin to improve compared with the previous year. As of today the free cash flow is expected to reach a double digit million Euro figure.

About SUSS MicroTec
SUSS MicroTec is a leading supplier of equipment and process solutions for markets such as 3D-Integration, Advanced Packaging, MEMS, Nanotechnology and Compound Semiconductor. High-quality solutions enable customers to increase process performance while reducing cost of ownership. SUSS MicroTec supports more than 8,000 installed mask aligners, coaters, bonders and probe systems with a global infrastructure for applications and service. SUSS MicroTec is headquartered in Garching near Munich, Germany.
For more information, please visit http://www.suss.com

This press release contains forward-looking statements relating to the business, financial performance and earnings of SUSS MicroTec AG and its subsidiaries and associates. Forward-looking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of SUSS MicroTec AG. Consequently, actual developments as well as actual earnings and performance may differ materially from those which explicitly or implicitly assumed in the forward-looking statements. SUSS MicroTec AG does not intend or accept any obligation to publish updates of these forward-looking statements

SUSS MicroTec AG
Franka Schielke
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 (0)89 32007-161
Fax: +49 (0)89 32007-451
Email: franka.schielke@suss.com

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117530  30.03.2011