Half Year Figures for 2014 Published

Half Year Figures for 2014 Published

SÜSS MicroTec AG / Key word(s): Half Year Results

07.08.2014 / 07:24

Half Year Figures for 2014 Published

- Q2 Order intake of EUR 36,2 million within guidance

- EBIT reaches EUR 3.4 million in the first half of 2014

- Improved Guidance for 2014

- Publication of order entry expectation for the second half of 2014

Garching, August 7, 2014 - SUSS MicroTec published its report for the first half of the fiscal year 2014 today. When looking at the second quarter only, order intake reached EUR 36.2 million, which is 45% higher than in the first quarter and 1.4% below the EUR 36.7 million in the corresponding quarter 2013. Sales in the second quarter reached EUR 30.4 million after EUR 24.9 million a year ago.

Looking at the first half year of 2014, SUSS MicroTec achieved an order intake of EUR 61.2 million after EUR 71.6 million in the previous year. After the closure of the product line permanent bond cluster systems, the Substrate Bonder division achieved an order intake of EUR 6.5 million (H1 2013: EUR 17.2 million). Order intake in the Lithography segment decreased by 21%. In the Photomask Equipment segment order entry came in at EUR 9.1 million after EUR 3.4 million one year ago. Total sales came in at EUR 69.4 million, which is 26.2% above the EUR 55.0 million of the previous year. Thus, order backlog amounted to 77.7 EUR million at June 30, 2014 (June 30, 2013: 102.5 EUR million).

The Group's largest division, Lithography, recorded an 18% increase in sales in the first half of the year to EUR 43.8 million (previous year: EUR 37.1 million). The Photomask Equipment division indicated a lower contribution to sales of EUR 7.8 million (previous year: EUR 9.2 million). This corresponds to a decrease of approximately 15%. The Substrate Bonder division was able to contribute sales of EUR 15.2 million in the first half of the year (previous year: EUR 6.6 million). Sales in the Others division increased from the previous year to EUR 2.7 million (previous year: EUR 2.0 million).

The gross profit margin for SUSS MicroTec Group increased in the first half of the year to 32.3% (H1 2013: 12.4%). Besides the elimination of one-time costs for restructuring the Substrate Bonder division, the segments Lithography, Photomask Equipment and Substrate Bonder displayed a better performance and contributed positively to the gross margin.

Earnings before interest and taxes (EBIT) of EUR 3.4 million were higher than the EUR -15.0 million of the previous year. However, EBIT for the first half of 2013 included an extraordinary effect of EUR -6.0 million from refocusing the Permanent Bonding product line. As a result, adjusted EBIT for the first half of 2013 was EUR -9.0 million. There were no notable extraordinary effects in the first half of 2014.

Earnings after taxes (EAT) for continuing operations amounted to EUR 2.0 million, compared to EUR -11.6 million in the previous year. Basic earnings per share (EPS) amount to EUR 0.11 (previous year: EUR -0.61).

The Operating Cash Flow amounted to EUR -1.2 million after EUR -10.6 million in 2013. The Free Cash Flow for the first half year 2014, before the effects of the purchase or sale of interest bearing securities, amounted to EUR -2.4 (previous year: EUR -12.4 million). Cash and interest bearing securities amounted to EUR 44.1 million at the end of the first half year (June 30, 2013: EUR 23.5 million). Net liquidity amounted to EUR 33.3 million, which is below the EUR 35.7 million at December 31, 2013 (June 30, 2013: EUR 19.5 million).

The management board of SUSS MicroTec AG reiterates the sales guidance for the fiscal year 2014 and expects sales to be in the bandwidth of 135 - 145 EUR million. At the same time the expectation for the full year EBIT has improved from the minus 5 to 0 EUR million bandwidth to a "slightly positive" EBIT in 2014. The major reason for the higher EBIT expectation is the improved earnings situation in the first half of 2014, which was partly driven by the positive impact of the restructuring and cost saving measures, which were taken in 2013.

For the third quarter of 2014, the Company expects an order entry within the range of 25 - 35 EUR million. Due to an expected upswing in demand from customers during the course of the year, the Management Board considers it possible that order entry will return to the 30 to 40 EUR million range in the fourth quarter of 2014.

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

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