DGAP-News: SÜSS MicroTec SE / Key word(s): Annual Results
Publication of the Final Figures for the Fiscal Year 2018
- Full year order entry at EUR 191.0 million
- Sales of EUR 203.9 million are 22.5% above the previous year
- EBIT at EUR 10.9 million and EBIT-margin at 5.3%
Please note that SUSS MicroTec SE applied IFRS 15 for the first time in fiscal 2018, which newly governs the recognition of sales. In accordance with IFRS 15, SUSS MicroTec now recognizes sales from the sale of tools in two steps as a business of several components: Upon delivery of the tool to the customer and the associated transfer of control to the customer, 90 % of the amount of the order is recognized as sales. The remaining 10% is recognized after successful installation, at the time of final acceptance of the customer. Until the 2017 fiscal year, SUSS MicroTec had applied IFRS 11 and IFRS 18 and for tools recognized 100% of the amount of the order as sales only after successful installation at the time of final acceptance. As a result of the initial application of IFRS 15, sales in 2018 are only conditionally comparable to sales in the previous years. EBIT and EBITDA are also affected by the change in revenue recognition. However, the change in revenue recognition has no effect on the key financial figures of order entry and net liquidity.
The Company generated sales of EUR 203.9 million (previous year: EUR 166.5 million, 2018 old method: EUR 213.9 million) in the last fiscal year and booked an order entry of EUR 191.0 million (previous year: EUR 200.3 million). The order backlog amounted to EUR 84.7 million (previous year: EUR 133.4 million, 2018 old method: EUR 110.5 million). In the once again strong fourth quarter, order entry came in at EUR 64.8 million.
The gross margin declined slightly to 33.0% after 35.7% in 2017 (2018 old method: 33.3%).
The EBIT came in at EUR 10.9 million (previous year: EUR 13.9 million, 2018 old method: EUR 15.6 million). This represents an EBIT-margin of 5.3 percent after 8.3 percent one year ago (2018 old method: 7.3%). Earnings after taxes (EAT) amounted to EUR 4.8 million, compared to EUR 6.7 million in the previous year (2018 old method: EUR 8.2 million). The basic earnings per share (EPS) totaled EUR 0.25 (previous year: EUR 0.35, 2018 old method: EUR 0.43).
Following another good order intake in the 2018 financial year, especially in the fourth quarter, we remain optimistic about the financial year 2019. Although the market environment in the semiconductor industry and the general economic outlook have deteriorated compared to the previous year, we are still confident that 2019 will be another year a good year for SUSS MicroTec. The technology trends that drive our industry continue to exist, even if they may take effect with some delay. Therefore, from today's perspective, we have no doubts about the continued good demand for our products and solutions by our customers in the markets relevant to us. The actual impact of the recent negative news from large semiconductor manufacturers on SUSS MicroTec is difficult to assess at the point of time, as we operate almost exclusively in innovative niches of the markets relevant to us.
Taking into account the somewhat gloomier general market outlook for 2019, we assume that incoming orders in the first half of 2019 will range from around EUR 80 million to EUR 90 million. Building on this, we again expect sales in 2019 to in the bandwidth of EUR 200 to EUR 215 million. At this revenue level, the EBIT-margin for 2019 is expected to be in the range of 6.5 % to 8.0 % of sales.
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|