DGAP-News: SÜSS MicroTec SE / Key word(s): Final Results
Publication of the Final Figures for the Fiscal Year 2017
- Full year order entry with EUR 200.3 million well above prior year
- Sales came in at EUR 166.5 million
- EBIT of EUR 13.9 million is 25.2% above prior year
- Positive Free Cash Flow stood at EUR 2.9 million
The Company generated sales of EUR 166.5 million (previous year: EUR 177.6 million) in the last fiscal year and booked an order entry of EUR 200.3 million (previous year: EUR 161.1 million). The order backlog amounted to EUR 133.4 million (12/31/2016: EUR 101.5 million). In the once again strong fourth quarter, order entry came in at EUR 68.9 million (previous year: EUR 59.5 million) and sales amounted to EUR 53.1 million after EUR 69.5 million in the fiscal year 2016. The full year EBIT amounted to EUR 13.9 million, which is a 25.2% plus compared to the prior year (EUR 11.1 million).
The gross margin increased to 35.7% after 33.0% in 2016. Thus SUSS MicroTec was able to continuously increase its gross profit margin in recent years.
In the 2017 fiscal year, the Lithography division generated order entry of EUR 136.2 million and sales of EUR 112.8 million. This corresponds to a 29.7% plus in order entry but a planned 15.7% planned decrease in sales compared to the prior year. The performance of the Bonder division was once again very good with respect to both order entry of EUR 36.7 million (previous year: EUR 18.6 million) and sales of EUR 22.1 million (previous year: EUR 14.0 million). The main reasons are the successful refocusing of the product line permanent bonders and the first volume orders for temporary bonders for 3D-integration. At the end of December 2017, order entry in the Photomask Equipment division was EUR 15.7 million (previous year: EUR 26.3 million). Division sales amounted to EUR 19.7 million, the same amount as in the prior year.
Despite the overall lower sales level in the 2017 financial year the Company achieved a significantly higher EBIT than last year and an improved EBIT margin of 8.3% after 6.3% in the prior year. Nevertheless, EBIT of EUR 13.9 million in 2017 (prior year: EUR 11.1 million) was slightly below Company expectations because of the overall lower sales volume. The 2017 EBIT includes a non-recurring income of EUR 2.0 million from licensing revenues in the Photomask Equipment division. Earnings after taxes (EAT) amounted to EUR 6.7 million, compared to EUR 5.0 million in the previous year. The basic earnings per share (EPS) totaled EUR 0.35 (previous year: EUR 0.26).
SUSS MicroTec starts the new financial year with a high order backlog of EUR 133.4 million. Taking into account the continued positive outlook for the first half of 2018, we assume that order intake in the first half of 2018 will reach the average of the comparable periods of previous years of around EUR 70 million to EUR 80 million, however not the exceptionally high value of the previous year (EUR 94.5 million). Building on this, we expect sales in the range of EUR 195 million to EUR 205 million in 2018. At this revenue level, EBIT for 2018 is expected to be in the range of 8.5% to 10.0% and EBITDA in the range of 11.0% to 12.5% of revenue. In 2018 we do not expect comparable license revenues as in the previous year. The reasons for the positive development of the EBIT margin are, in addition to volume effects from higher sales, in particular efficiency increases in internal processes. The Bonder segment is again expected to make a significant contribution to earnings in 2018.
In order to meet the ever-growing demands of customers and to cope with the increasing speed of technological developments, SUSS MicroTec will once again significantly increase its research and development expenditure in the current fiscal year. In addition, we are aiming for a positive free cash flow for the 2018 fiscal year.
About SUSS MicroTec
SUSS MicroTec SE
Senior Manager Investor Relations
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 89 32007-161
Fax: +49 (0)89 32007-451
|Company:||SÜSS MicroTec SE|
|Schleissheimer Strasse 90|
|Phone:||+49 (0)89 32007-161|
|Fax:||+49 (0)89 32007-451|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|