S MicroTec publishes quarterly report: record order entry, profit and revenue growing in Q3 2021
- At € 101 million, order entry in Q3 has more than doubled
- Q3 revenue increased further to € 70.0 million, in spite of supply chain challenges
- EBIT margin for Q3 is up at 13.9%, and with that, at 9.4% for the first nine months
Garching, November 11, 2021 - SUSS MicroTec SE, a leading manufacturer of systems and process solutions for the semiconductor industry and related markets, has published its quarterly report for the first nine months of the 2021 financial year.
In the third quarter, and for the first time in the company's history, SUSS MicroTec has recorded order entry of more than € 100 million in one quarter. At € 101.0 million, incoming orders for the quarter were up 129.0 percent above the prior year figure of € 44.1 million. All four segments of the company have contributed to this significant increase in order entry, with the Bonder segment recording the largest relative increase.
The third quarter was also stronger in terms of both sales and earnings than the two first quarters of the year. "It is encouraging that we could realize these increases within an economic environment that is affected by the ongoing economic impact of the COVID-19 pandemic as well as by a number of supply chain challenges," commented CEO Goetz M. Bendele, adding, "We owe this to the commitment and dedication of our colleagues."
In the first nine months of the current fiscal year, revenue was € 188.5 million, 8.4% higher than in the previous year. From this, SUSS MicroTec has generated earnings before interest and taxes (EBIT) of € 17.7 million, well above the prior year figure of € 12.2 million. This corresponds to an EBIT margin of 9.4% after 7.0% in the same period last year. Earnings after taxes (EAT) in the first nine of the year also increased from € 4.9 million last year to € 12.1 million. As of September 30, 2021, SUSS' net cash position of € 19.8 million is similar to the one at the beginning of the year (December 31, 2020: € 20.3 million). Along with the high order entry, the order backlog has increased further to € 185.4 million as of September 30, 2021.
"We are glad that both growth and profitability of the company continue their positive development," said CFO Oliver Albrecht.
|Cooperation with SET Corporation |
During the third quarter, SUSS MicroTec has entered a partnership with Saint-Jeoire (France)-based SET Corporation. As part of this partnership, SUSS MicroTec and SET together will develop and deliver a fully automated, customizable, sequential die-to-wafer hybrid bonding equipment solution to customers. This solution will deliver customer value-add by providing differentiation on throughput and yield, while at the same time providing a seamless integration into customer fabrication sites. The modular, highly flexible equipment concept allows for stand-alone surface preparation and hybrid bonding as well as a fully integrated equipment solution depending on the specific application and/or customer requirements. In addition, this partnership allows SUSS MicroTec to offer a comprehensive portfolio of die-to-wafer and wafer-to-wafer hybrid bonding solutions across a broad spectrum of applications requiring heterogeneous integration in the advanced backend space to customers.
The further development of the COVID-19 pandemic and the associated economic impact remains difficult to assess, including in the short term. Even this late in the year, it influences our ability to forecast the current fiscal year. As before, we expect stronger revenue in the fourth quarter of 2021 compared to the first three quarters, and revenue between € 270 million and € 290 million, an EBIT margin between 9% and 11%, and free cash flow between € 12 million and € 18 million for 2021 as a whole.
The quarterly report is available for download in German and in English via the following link: www.suss.com/en/investor-relations.
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.
SUSS MicroTec SE
Schleissheimer Strasse 90
85748 Garching, Deutschland
Tel.: +49 (0)89 32007-161