Süss MicroTec AG: Quarterly Figures for 2011 Published

Süss MicroTec AG: Quarterly Figures for 2011 Published

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

05.05.2011 / 08:02

Quarterly Figures for 2011 Published

- Order Intake at EUR 48.3 million, which is 50% above Q1 2010

- Sales plus 46% to EUR 32.0 million

- EBIT at EUR 2.5 million after EUR -0.1 million in the prior year

Garching, May 5, 2011 - SUSS MicroTec AG published its report for the first quarter of the fiscal year 2011. The figures show that the company experienced an increase in both sales and order entry in the past quarter compared to Q1 2010. SUSS MicroTec generated sales of EUR 32.0 million, beating the previous year of EUR 21.9 million by approximately 46%. Order entry increased by 50% year on year to EUR 48.3 million.

The group's core division - Lithography - posted a 58% increase in sales to EUR 25.2 million (previous year: EUR 16.0 million) during the year under review. The Substrate Bonder division also succeeded in growing its revenues by approximately 50% to EUR 3.6 million (previous year: EUR 2.4 million). The Photomask Equipment division, acquired in early 2010, contributed sales of EUR 1.1 million (previous year: EUR 2.2 million).

Earnings before interest and tax (EBIT) of EUR 2.5 million could be achieved (previous year: EUR -0.1 million). This translates into an EBIT-margin of 7.8%. The EBIT in Q1 2011 was burdened by restructuring costs of EUR 1.0 million caused by the relocation of the Bonder product line from Waterbury, VT, USA to Sternenfels. The adjusted EBIT is EUR 3.5 million, which translates into an adjusted EBIT-margin of 10.8%. For the remainder of the fiscal year 2011 we expect final restructuring costs from this relocation of approximately EUR 1 million. Earnings after taxes (EAT) from continuing operations amounted to EUR 2.4 million, compared to EUR -0.7 million in the previous year. The basic earnings per share (EPS), therefore, totaled EUR 0.13 (previous year: EUR -0.04).

Cash and interest bearing securities amounted to EUR 50.3 million at the end of the first quarter. Net liquidity amounted to EUR 35.1 million (March 31, 2010: EUR 11.0 million). The Free Cash Flow for the fiscal year, before security transactions and extraordinary effects as well as M&A transactions, was EUR -2.2 (previous year's quarter: EUR -1.3 Million).

The Management Board confirms that it 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. For the first half year of the fiscal year 2011 the company expects sales of more than EUR 80 million.

The Supervisory Board of SUSS MicroTec AG has extended the existing management contract with Mr. Frank P. Averdung, which was set to expire at the end of January 2012, ahead of schedule by an additional five years. In doing so, it has expressed its confidence in the work performed by Mr. Averdung (56). The electrical engineering graduate came to SUSS MicroTec AG at the beginning of February 2009 as President and Chief Executive Officer. He will now retain his position with the Company through January of 2017.

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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123070  05.05.2011