Publication of the Final Figures for the 2014 Fiscal Year

Publication of the Final Figures for the 2014 Fiscal Year


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

2015-03-30 / 08:09


PRESS RELEASE

Publication of the Final Figures for the Fiscal Year 2014

- 2014 sales with EUR 145.3 million on upper end of guidance

- Full year EBIT better than expected: EUR 8.4 million

- Positive Free Cash Flow at EUR 2.1 million

Garching, March 30, 2015 - SUSS MicroTec AG, a leading supplier of equipment and process solutions for the semiconductor industry and related markets, published its consolidated financial statements for the 2014 fiscal year today.

The Company generated sales of EUR 145.3 million (previous year: EUR 134.5 million) in the last fiscal year and booked an order entry of EUR 134.3 million (previous year: EUR 135.0 million). The order backlog amounted to EUR 75.6 million (12/31/2013: EUR 85.7 million). For the fourth quarter the Company expected an increase of order activity from customers, which materialized and lifted the Q4 slightly above the Company expectations. Order entry came in at EUR 44.0 million. Sales of EUR 50.3 million were above the level of the previous year (EUR 40.5 million).

The gross margin improved considerably from 16.2 % to 33.6 % in 2014. The main reason was a favorable product mix. The gross profit in the previous year was burdened with extraordinary expenses related to the restructuring of the Permanent Bond Cluster product line. Of the total extraordinary expenses of EUR 13.2 million, EUR 10.5 million was recorded in cost of sales.

In the 2014 fiscal year, the Lithography division generated order entry of EUR 91.5 million and sales of EUR 96.7 million. This corresponds to a 4.1% increase in order entry and a 9.5% increase in sales compared to the previous year. The performance of the Substrate Bonder division was subdued with respect to both order entry of EUR 17.2 million (previous year: EUR 24.3 million) and sales of EUR 22.4 million (previous year: EUR 22.9 million). The performance of the Photomask Equipment division in terms of order entry was better than in the previous year. At the end of December 2014, order entry was EUR 20.2 million (previous year: EUR 17.5 million). Division sales amounted to EUR 20.7 million after EUR 18.4 million in 2013.

Earnings before interest and tax (EBIT) came in at EUR 8.4 million - which is better than previously expected (previous year: EUR -19.4 million). The main reason is a positive product mix as well as better than expected gross margins. EBIT for 2014 includes an unexpected income from written-off receivables of EUR 1.3 million. It also includes a provision for severance payments of EUR 1.0 million. The corresponding expense is disclosed under administrative costs. The EBIT for 2013 included a special effect of EUR 13.2 million which resulted from the measures taken in the permanent bonding product line. The EBIT-Margin for 2014 reached 5.8% (previous year: -14.4%).

Earnings after taxes (EAT) amounted to EUR 4.6 million, compared to EUR -16.0 million in the previous year. The basic earnings per share (EPS) totaled EUR 0.24 (previous year: EUR -0.84).

The Free Cash Flow for the fiscal year before security transactions was EUR 2.1 million, compared to EUR 4.1 million in the previous year. Cash and interest bearing securities amounted to EUR 48.3 million at the end of the fiscal year 2014. Net liquidity increased from EUR 35.7 to EUR 38.0 million on December 31, 2014.

Outlook

The management board expects sales for the 2015 fiscal year in the range between EUR 130 million and 140 million. The operating result (EBIT) is expected to reach the break-even level. The main reason for the lower EBIT expectation in 2015 is a substantial increase in research and development spending.

For the first quarter 2015 the management board expects an order intake at the lower end of the guided range of between EUR 25 and 35 million. Due to the comparably high sales level in the fourth quarter 2014 and because of the characteristically low sales level at the beginning of the year, sales for the first quarter 2015 are expected to reach a level of approximately EUR 25 million. This results in a negative EBIT in the low to medium single digit million-euro-area.

About SUSS MicroTec
SUSS MicroTec 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.




Contact:
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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338985  2015-03-30