SÜSS MicroTec AG / Key word(s): Final Results
Final Figures for 2012 Fiscal Year Published
- Q4 order intake of EUR 40.2 million above guidance
- Strong sales in Q4 of EUR 55.6 million
- Full year sales reach EUR 163.8 million
- EBIT with EUR 11.7 million above guidance
Garching, March 28, 2013 - SUSS MicroTec AG, a leading supplier of equipment and process solutions for the semiconductor and related markets, published its consolidated financial statements for the 2012 fiscal year today. Despite the challenging economic environment the business has been very robust. Order entry increased by 9.9% year on year to EUR 157.2 million (previous year: EUR 143.1 million). Sales of EUR 163.8 million were achieved, falling slightly short of the previous year's level of EUR 175.4 million by 6.6%. Thus order backlog stood at EUR 86.5 million at December 31, 2012 (December 31, 2011: EUR 83.7 million).
The gross margin declined from 37.9% to 35.0% in 2012. The major reason is a less favorable product mix in 2012 compared to the previous year.
The group's core division - Lithography - posted a 1.5% increase in sales to EUR 113.2 million during the year under review (previous year: EUR 111.5 million). The Substrate Bonder division increased its revenues from EUR 20.5 million to EUR 23.1 million, which is an increase of 13.1%. After a very successful year 2011, the Photomask Equipment division, acquired in early 2010, contributed sales of EUR 22.9 million (previous year: EUR 36.3 million).
Earnings before interest and tax (EBIT) came in at EUR 11.7 million (previous year: EUR 18.6 million) which is above the guidance. The EBIT for 2012 included one-time currency effects of EUR -0.4 million. These effects result from the settlement of company-internal foreign currency credits by SÜSS MicroTec AG against SUSS MicroTec Inc. in connection with the acquisition of Tamarack Scientific in March 2012. The EBIT of the fourth quarter 2012 also includes a positive one off effect of EUR 1.8 million, resulting from an adjustment of the purchase price allocation for Tamarack Scientific and a revaluation of the provision for the earn-out component. Due to the lower gross margin, the EBIT-Margin for 2012 was 7.1% (previous year: 10.6%).
Earnings after taxes (EAT) for continuing operations amounted to EUR 7.6 million, compared to EUR EUR 13.8 million in the previous year. Earnings after taxes for the continuing and discontinued operations amounted to EUR 9.1 million (prior year: EUR 13.8 million) and include a tax free gain of EUR 1.5 million resulting from the sale of the Test Business in 2010. The basic earnings per share (EPS) for the continuing operations totaled EUR 0.40 (previous year: EUR 0.72).
Given the order backlog at the end of 2012 and the subdued economic outlook for 2013, the management board expects total sales in the 2013 fiscal year of around EUR 150 million and EBIT in the low single digit million EUR range. We remain committed to our goal of sustaining the organic growth of our core business without additional borrowing.
About SUSS MicroTec
SUSS MicroTec AG
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 (0)89 32007-161
Fax: +49 (0)89 32007-451
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|Company:||SÜSS MicroTec AG|
|Schleissheimer Strasse 90|
|Phone:||+49 (0)89 32007-161|
|Fax:||+49 (0)89 32007-451|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart|
|End of News||DGAP News-Service|