SÜSS MicroTec AG: Q3 Figures for 2011 Published

SÜSS MicroTec AG: Q3 Figures for 2011 Published

SÜSS MicroTec AG / Key word(s): Finance/

08.11.2011 / 07:56


Q3 Figures for 2011 Published

- Order Intake with 38.2 EUR million at upper end of guidance

- Sales of 45.9 EUR million significantly above guidance

- EBIT at 4.1 EUR million

- Net cash position increased to 40.1 EUR million

Garching, GERMANY, November 8 2011 - SUSS MicroTec, a global supplier of equipment and process solutions for the semiconductor industry and related markets, published its report for the third quarter of the fiscal year 2011 today. When looking at the third quarter only, order intake decreased by 33% to 38.2 EUR million compared to the third quarter 2010 (Q3 2010: 56.9 EUR million), but increased sequentially by 19%. Sales increased by 24% to 45.9 EUR million, compared to 37.0 EUR million in the corresponding quarter 2010. The EBIT decreased by 18% in the third quarter to 4.1 EUR million compared to EUR 5.0 million in the previous year. It was influenced by the delivery of low margin - but strategically important - tools to customers for their evaluation. Additionally our research and development costs have increased significantly in the third quarter, but we see this temporary cost increase as a necessary investment into innovative process solutions and technologies.

The figures for the first nine month of the year show that the company again experienced a relatively strong level of sales compared to the first nine month of 2010. SUSS MicroTec generated sales of 130.6 EUR million, beating the previous year of 96.6 EUR million by approximately 35%. Order entry decreased, as expected, by 15% year on year to 118.6 EUR million. This leads to an order backlog of 103.5 EUR million as of September 30, 2011 (September 30, 2010: 108.0 EUR million).

The group's largest division - Lithography - posted a 28% increase in sales to 84.4EUR million (previous year: 65.7 EUR million) during the year under review. The Photomask Equipment division also succeeded in growing its revenues by more than 260% to 25.8 EUR million (previous year: 7.1 EUR million). The Substrate Bonder division contributed sales of 14.8 EUR million (previous year: 19.0 EUR million), a decrease by 22%.

Earnings before interest and tax (EBIT) of 14.7 EUR million could be achieved (previous year: 8.4 EUR million). This translates into an EBIT-margin of 11.3%. The EBIT in 9M 2011 was burdened by restructuring costs of roughly 1.4 EUR million caused by the relocation of the Bonder product line from Waterbury, VT, USA to Sternenfels. In the first nine months of 2010 the special effects amounted to EUR minus 0.2 Million, consisting of a negative goodwill of 2.7 EUR million and restructuring costs of 2.5 EUR million. The adjusted EBIT is 16.1 EUR million, which translates into an adjusted EBIT-margin of 12.3%. For the remainder of the fiscal year 2011 we expect no further restructuring costs. Earnings after taxes (EAT) from continuing operations amounted to 11.2 EUR million, compared to 3.6 EUR million in the previous year. The basic earnings per share (EPS), therefore, totaled 0.59 EUR (previous year: 0.19 EUR).

Cash and interest bearing securities amounted to 54.7 EUR million at the end of the first nine month year (September 30, 2010: 39.2 EUR million). Net liquidity amounted to 40.1 EUR million (September 30, 2010: 23.5 EUR million). The Free Cash Flow for the fiscal year, before security transactions and extraordinary effects as well as M&A transactions, was 2.0 EUR (previous year: 3.8 EUR 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 can reach a double digit million EUR figure. For the fourth quarter of the fiscal year 2011 the company expects according to our guidance an order intake of EUR 30 to 40 million and sales of approximately EUR 40 - 45 million.

About SUSS MicroTec
SUSS MicroTec, listed on TecDAX of Deutsche Börse AG, is a leading supplier of equipment and process solutions for microstructuring in the semiconductor industry and related markets. In close cooperation with research institutes and industry partners SUSS MicroTec contributes to the advancement of next-generation technologies such as 3D Integration and nanoimprint lithography as well as key processes for MEMS and LED manufacturing.
With a global infrastructure for applications and service SUSS MicroTec supports more than 8,000 installed systems worldwide. SUSS MicroTec is headquartered in Garching near Munich, Germany.
For more information, please visit http://www.suss.com.

Legal Disclaimer
All statements in this release other than historical facts are forward-looking statements within the meaning of U.S. Private Securities Litigation Reform Act of 1995. Words such as 'believe', 'expect', 'intend', 'anticipate', 'estimate', 'should', 'may', 'will', 'plan' and similar words and terms used in relation to the enterprise are meant to indicate forward-looking statements of this kind. The company accepts no obligation toward the general public to update or correct forward-looking statements. All forward-looking statements are subject to various risks and uncertainties, as a result of which actual events may diverge numerically from expectations. The forward-looking statements reflect the view at the time they were made.

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

End of Media Release

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