Q3-Report for 2019 published  

• Strong order intake in Q3/2019
• Expected annual sales in 2019 of over 210 million Euro
• Photomask equipment and microoptics strongest segments
• Positive outlook for 2020
• Expected incoming orders Q4/2019 and Q1/2020 at more than 95 million Euro

Garching, Germany, November 6, 2019 - SÜSS MicroTec, a leading provider of equipment and process solutions for the semiconductor industry and related markets, today announced results for the third quarter and first nine months of fiscal 2019.

Order intake in the third quarter of 2019 increased by more than 40% to EUR 66.0 million compared to the same period of the previous year (Q3/2018: EUR 47.0 million). In the first three quarters of 2019, order intake increased from EUR 125.2 million in the previous year to EUR 157.8 million. This corresponds to an increase of around 26 percent. As of September 30, 2019, the order backlog stood at EUR 115.3 million, 28.1 % above the previous year's figure of EUR 90.0 million. The increase is mainly due to the strong demand for systems for processing and cleaning EUVL photomasks (Photomask Equipment segment) and the expansion of the application area for microoptics (Microoptics segment). However, order intake for classic lithography solutions and bond systems was also slightly higher than in the previous year.

"With an order backlog of over EUR 115 million, we have a good starting point for the fourth quarter, in which we expect additional orders. This makes us very optimistic for the near future and beyond. We also expect good demand for our machines and process solutions in the future, not least due to the introduction of new technologies such as the 5G mobile communications standard. We anticipate that the previously published forecast of more than EUR 95 million in incoming orders in the second half of 2019 will be far exceeded. For the fourth quarter of 2019 and the first quarter of 2019, we again expect a good cumulative order intake of more than EUR 95 million," commented Dr. Franz Richter, CEO of SUSS MicroTec SE.

In the third quarter of 2019, SUSS MicroTec generated sales of EUR 37.1 million (previous year: EUR 38.6 million). The figure for the first nine months of the current 2019 financial year was EUR 131.1 million, compared with EUR 132.8 million in the previous year.

"Shifts in orders by customers in the course of the first three quarters have led to the fact that we have finished machines with a sales value of more than EUR 30 million in stock at the end of the third quarter, ready for delivery, most of them with concrete orders. This is now being postponed until the next quarter. We assume that we will be able to deliver almost all of these machines in the fourth quarter, so that a sales volume of over EUR 80 million in the fourth quarter seems quite attainable from today's perspective. This means that the planned annual sales in the range of EUR 200 to 215 million can be achieved well. In the 2018 financial year, sales amounted to EUR 203.9 million. With the postponement of the delivery dates, the earnings contribution from these sales is also being shifted to the next quarter and is the main reason why a negative EBIT is reported for Q3 and the first nine months of the current fiscal year 2019". Dr. Franz Richter continues.

Earnings before interest and taxes (EBIT) amounted to minus EUR 4.9 million in the third quarter of 2019, which corresponds to an EBIT margin of minus 8.9%. In the same period of the previous year, EBIT was minus EUR 1.6 million, the EBIT margin correspondingly minus 4.1%.

Over the first three quarters, cumulative EBIT amounted to minus EUR 5.7 million, well below the previous year's figure of EUR 6.8 million. This results in an EBIT margin of minus 4.3% (previous year: +5.1%). In addition to delayed deliveries by customers, the main reasons for the poor result in the first nine months are the productivity losses in the first quarters, which were caused, among other things, by the allocation of employees to new production areas. In addition, there were negative currency effects of around EUR 1 million. All these reasons led to the already published adjustment of the expected EBIT margin for 2019 as a whole, which will be between 4.0% and 5.0%. In the previous year, the EBIT margin was 5.3%.

Undiluted earnings per share (EPS) for the third quarter thus amounted to minus EUR 0.36 (previous year: minus EUR 0.08). For the 9-month period, earnings per share amounted to minus EUR 0.46 (previous year: EUR 0.17).

Free cash flow amounted to minus EUR 28.7 million at the end of the third quarter of 2019, after minus EUR 22.7 million in the previous year. Net liquidity at the end of the third quarter was minus EUR 6.6 million (2018: EUR 10.4 million).

"The manufacture and non-delivery of machinery had a negative impact on our cash position as of the reporting date. However, we expect significant incoming payments and significant contributions to the operating result from the machines that were completed and ready for delivery as of September 30, 2019 and the additional sales in the fourth quarter," commented Robert Leurs, CFO of SUSS MicroTec SE.

Segment Report

The most important key figures for the segments are summarized below:
 

9 months 2019
in mn EUR		Order-	Sales	EBIT	EBIT
		income			Margin %
Lithography		72,0	72,4	-8,1	-11,2%
Bonder		14,8	17,2	-0,7	-4,1%
Photomask Equipment		52,5	24,6	4,4	17,9%
Mikrooptics		17,7	16,2	2,7	16,7%
Others		0,8	0,7	-4,0
SUMME		157,8	131,1	-5,7

The photomask equipment and micro-optics segments in particular made significant gains in order intake, sales and EBIT and made a significant positive contribution to consolidated earnings.

Service

The quarterly report for the period January 1 to September 30, 2019 (IFRS) is available on our corporate website in the Investor Relations section of https://www.suss.com/de/investor-relations/veroeffentlichungen

End of Corporate News

Legal Disclaimer
Some of the statements made in this release are, or may be interpreted as, forward-looking statements. All statements and evaluations are based on extremely thorough research. However, the publication is without guarantee. Any liability is excluded. The above statements do not constitute an invitation to buy or sell securities. All rights reserved.

About SUSS MicroTec
SUSS MicroTec is one of the world's leading manufacturers 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 advances the development of new technologies such as 3D integration and nanoimprint lithography as well as key processes for MEMS and LED production.  More than 8,000 SUSS MicroTec systems are installed worldwide, supported by a global infrastructure for applications and services. The SUSS Group is headquartered in Garching near Munich. For further information please visit www.suss.com



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: [email protected]