SUSS MicroTec: Record Orders in 2021
SUSS MicroTec: Record Orders in 2021
- Order entry for the year € 337.0 million, up 19.9% YoY
- Revenue and EBIT margin also up
- Further revenue and earnings growth expected going forward
- For the first time, SUSS MicroTec will propose a dividend to the AGM
Garching, March 31, 2022 - In the annual report published today by SUSS MicroTec SE, a leading manufacturer of equipment and process solutions for the semiconductor industry and related markets, the Management Board reports the development of the Company's business in 2021.
With revenue growth of 4.5% to € 263.4 million, SUSS MicroTec has exceeded the record revenue of the previous year (€ 252.1 million). Order entry has increased even more, by 19.9% to € 337.0 million (prior year: € 281.1 million). At € 101.0 million, order entry in the third quarter has exceeded € 100 million in a single quarter for the first time. Another positive aspect is that all four business segments have contributed to this significant increase in order entry. At the end of the year, order backlog stood at € 193.9 million (prior year: € 120.1 million). Profit (EBIT) has risen by 10.8% to € 22.6 million (prior year: € 20.4 million), and EBIT margin has increased to 8.6% (prior year: 8.1%). As in the previous year, SUSS MicroTec has generated value for our shareholders, with a return on capital employed (ROCE) of 14.0% in 2021 (2020: 12.9%). At € 14.7 million, free cash flow was also positive, even against a selective increase in safety stock levels at the end of the year due to the supply chain challenges.
"I am very happy with the consistently high demand for our solutions, which these figures illustrate," said CEO Dr. Goetz M. Bendele. "Even against the backdrop of current events and the resulting challenges for us, SUSS MicroTec's development remains positive, and we expect a positive development of our business in the current year as well."
SUSS MicroTec has been able to reach a number of milestones besides its revenue, profit and order entry growth in 2021. In the Bonder segment, for example, the solutions portfolio for the growing hybrid bonding applications market was completed via the partnership with SET SA of Saint Jeoire (France), which was formed in the third quarter and through which die-to-wafer hybrid bonding solutions are developed alongside the existing solutions for wafer-to-wafer hybrid bonding. In the Lithography segment, SUSS MicroTec has received new orders for our UV projection scanners, following the successful transfer of their production. In the Photomask Equipment segment, customers' high willingness to invest in EUV lithography has led to order entry growth of about 50% YoY. In the Microoptics segment, production for microlens arrays (MLAs) for state-of-the-art automotive headlights has commenced in the fall, and from two customers, the first vehicle each with low beam headlights driven by our MLAs have entered the market before the end of 2021.
The outcome of the 2022 financial year will heavily depend on when the various supply chain bottlenecks can be resolved. "We assume that planned delivery dates and timing of revenue of some systems will move from the first to the second half of the year. It's also likely that not every order planned for 2022 can be completed before the end of the year," says COO Dr. Thomas Rohe. If the current supply bottlenecks are mostly resolved by the end of the first half of the year, we will be able to make up much of the delivery backlog during the second half of the year. With that assumption, we expect growing revenue to between € 270 and 300 million in the 2022 financial year, with an earnings margin before interest and taxes (EBIT) of between 8.5 to 10.5% of revenue. SUSS MicroTec expects a free cash flow range between a negative mid-single-digit million amount and a positive mid-single-digit million amount. "Our net cash reserve, which has increased further in 2021, together with our existing credit facility constitute sufficient financial reserves for the Company," says CFO Oliver Albrecht. For the following years, SUSS MicroTec continues to expect sustained, profitable growth and at least group revenue of € 400 million and an EBIT margin of 15% by 2025, with further growth thereafter.
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. The shares of SUSS MicroTec SE are traded in the Prime Standard of the German Stock Exchange (ISIN DE000A10K0235). For more information, please visit http://www.suss.com.
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