SÜSS MicroTec SE: SUSS MicroTec publishes first preliminary figures for the 2019 fiscal year

SÜSS MicroTec SE: SUSS MicroTec publishes first preliminary figures for the 2019 fiscal year

DGAP-News: SÜSS MicroTec SE / Key word(s): Preliminary Results
27.01.2020 / 21:27
The issuer is solely responsible for the content of this announcement.

SUSS MicroTec publishes first preliminary figures for the 2019 fiscal year
  • Cumulative order intake for Q III and Q IV is approx. 30% above previous expectations
  • Revenue of EUR 215 million at the upper end of the guidance
  • Earnings before interest and taxes (EBIT) significantly below previous expectations - special effects from the write-down of inventories for the scanner and laser product lines at the Corona (USA) location also has an impact

Garching, 27 January 2020 - SUSS MicroTec today announced preliminary sales and earnings figures for the 2019 fiscal year.

In the significantly improved market environment, orders in the amount of EUR 127 million were booked in the second half of the year, significantly exceeding the communicated expectations of significantly above EUR 95 million. Thus, with incoming orders of EUR 61.5 million, the fourth quarter was again as strong as the previous quarter and reflects the rising demand.

Revenue in fiscal year 2019 is expected to reach around EUR 215 million, which is at the upper end of the previously expected range of EUR 200 to 215 million. The fourth quarter alone contributed significantly to this pleasing result with revenue of EUR 84 million.

Due to the current market situation and the low investment requirements of potential customers for the scanner and laser tool product lines expected from today's perspective, the Management Board has decided - subject to the approval of the Supervisory Board - to discontinue these product lines and to stop further cash outflow as soon as possible. As a result, one-off write-downs of inventories at the subsidiary SMT Photonic Systems Inc. in Corona, USA, in the amount of approximately EUR 13.1 million will impact earnings in 2019. In 2020, further charges in the upper single-digit million euros range are expected as a result of write-downs and closure costs.    

Preliminary earnings before interest and taxes (EBIT) amount to minus EUR 11.5 million. Without this special effect, the preliminary EBIT in the 2019 fiscal year would be approximately 1.6 million EUR. The EBIT margin before this special effect is expected to amount to 0.7 % and is thus significantly below the expected range of 4 % - 5 %. The gross profit margin has fallen from 33% in 2018 to approximately 30% in 2019 due to shifts in the product mix. In order to better manage capacity utilization at the German sites, the production of individual machines was relocated from Sternenfels to Garching. This also led to higher production costs. Higher administrative and development costs also had a negative impact on earnings. 

As planned, the company will publish the final figures for the 2019 fiscal year on April 2, 2020.

Contact:
SUSS MicroTec SE
Maximilian Fischer
Investor Relations
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 89 32007-161
Fax: +49 (0)89 32007-451
Email: maximilian.fischer@suss.com


27.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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