SÜSS MicroTec AG: Q3 Figures for 2013 Published
(firmenpresse) - (DGAP-Media / 07.11.2013 / 07:31)
Q3 Figures for 2013 Published
- Solid Order Intake of EUR 34.3 million
- Q3-Sales reached EUR 38.9 million
- EBIT improved to EUR 1.8 million compared to the previous year
- Net Cash position increased to EUR 21.9 million
- Order Backlog of EUR 97.6 million
Garching, November 7, 2013 - SUSS MicroTec, a global supplier of equipment
and process solutions for the semiconductor industry and related markets,
published its report for the third quarter of the fiscal year 2013 today.
When looking at the third quarter only, order intake decreased from EUR
36.6 million to EUR 34.3 million. Sales decreased by 4.4% to EUR 38.9
million, compared to EUR 40.7 million in the corresponding quarter 2012.
The EBIT increased by 12.5% in the third quarter to EUR 1.8 million after
EUR 1.6 million in the previous year.
In the first three quarters of 2013 SUSS MicroTec generated sales of EUR
94.0 million, 13% less than the EUR 108.6 million of the prior year.
Despite the volatile macroeconomic environment, order entry was robust but
decreased year on year to EUR 105.9 million (prior year: EUR 117.0
million). This leads to an order backlog of EUR 97.6 million as of
September 30, 2012 (September 30, 2012: EUR 102.4 million).
The group's largest division - Lithography - posted sales of EUR 64.9
million after EUR 81.1 million in the previous year. The Photomask
Equipment division achieved sales of EUR 15.7 million (previous year: EUR
8.6 million). The Substrate Bonder division displayed lower sales of EUR
9.8 million after EUR 15.3 million in 2012.
Earnings before interest and tax (EBIT) came in at EUR -13.2 million
(previous year: EUR 3.1 million). The EBIT for the first nine month of the
year 2013 included a one-time effect of EUR -6.0 million. The one-time
effect resulted from the refocusing of the product line permanent bonding.
The write-offs are mainly on capitalized development costs, which originate
from the years prior to 2008, as well as on no longer needed demonstration
tools and inventories. The EBIT for the first nine months of the year 2012
included one-time currency effects of EUR -0.4 million. These effects
result from the settlement of company-internal foreign currency credits by
SÜSS MicroTec AG against SUSS MicroTec, Inc. in connection with the
acquisition of Tamarack in March 2012. Adjusted EBIT for the first nine
months of the year 2013 amounted to EUR -7.2 million (previous year: EUR
3.5 million). The weaker margins in the coater/developer division,
especially the unfavorable product mix between 200mm and 300mm coating
tools and the negative EBIT impact resulting from SUSS MicroTec Photonic
Systems (former Tamarack Scientific) are weighing on the margins in 2013.
Earnings after taxes (EAT) for continued operations amounted to EUR -10.5
million, compared to 0.8 EUR million in the previous year. Earnings after
taxes for the continued and discontinued operations amounted to EUR -10.5
million (prior year: 2.3 EUR million). The EAT for 2012 includes a tax free
gain of EUR 1.5 million resulting from the sale of the Test Business in
2010. The basic earnings per share (EPS) for the continued and discontinued
operations totaled -0.55 EUR (previous year: 0.04 EUR).Net liquidity
amounted to EUR 21.9 million (September 30, 2012: EUR 30.7 million).
The Free Cash Flow for the first nine months, before security transactions
and extraordinary effects as well as M&A transactions, was EUR -9.9 million
(previous year: EUR -6.2 million). It includes the EUR 8.9 million purchase
price (including ancillary costs) for the real estate in Garching.
Strategic Management Decision
Due to a reevaluation of the business situation in permanent bonding and
the ongoing losses in this product line the management has decided to
expand the restructuring measures, which have been taken in the second
quarter this year, and to cease production of cluster systems for permanent
bonding applications. The development and production of the successful
manual permanent bonding systems are not affected by this strategic action.
In this context one-off expenses of EUR 8.3 million can be expected in the
fourth quarter 2013. This one-off effect includes EUR 6.7 million for
write-offs on inventories (raw materials, unfinished goods as well as
demonstration tools) and EUR 1.6 million of precautionary provisions formed
for single customer projects. With this move the management expects to
pronouncedly reduce the losses of the Substrate Bonding Division.
Outlook
SUSS MicroTec announces a revision of the full year guidance 2013. The
sales expectation of formerly EUR 150 million is revised to a bandwidth of
EUR 125 to EUR 135 million. The reason is a potential delay in the sales
recognition of several machines, which have already been shipped but are
still waiting for final acceptance of the customer. The tools include
temporary and permanent bond cluster systems for international customers.
Due to the lower overall sales level, the EBIT will most likely not reach
in the original range of minus EUR 10 to minus EUR 15 million. Taking the
one-off expenses into account an EBIT in the range of minus EUR 22 to minus
EUR 27 million can be expected. The EBIT for 2013 includes approximately
EUR 14.3 million charges for the restructuring of the product line
permanent bonding.
For the fourth quarter 2013, the Company expects a robust order intake in
the range of EUR 30 to EUR 40 million.
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(at)suss.com
End of Media Release
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Issuer: SÜSS MicroTec AG
Key word(s): Enterprise
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Language: English
Company: SÜSS MicroTec AG
Schleissheimer Strasse 90
85748 Garching
Germany
Phone: +49 (0)89 32007-161
Fax: +49 (0)89 32007-451
E-mail: ir(at)suss.com
Internet: www.suss.com
ISIN: DE000A1K0235
WKN: A1K023
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP-Media
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