SUSS MicroTec records strongest quarter of order entry in Company’s history – sales and earnings continue to be affected by supply shortages

•    Order entry historically high at EUR 142.5 million in third quarter of 2022
•    Order backlog of EUR 377.3 million will keep production capacity high in 2023
•    Sales and earnings development still impacted by supply bottlenecks
•    High volume of equipment already delivered to customers pending revenue
     recognition
•    Sales and earnings guidance for 2022 confirmed and narrowed

Garching, Germany, November 10, 2022 – SÜSS MicroTec SE, a leading manufacturer of system and process solutions for the semiconductor industry and related markets, published its Quarterly Report for the first nine months of the 2022 fiscal year today.

SUSS MicroTec once again succeeded in increasing demand in all divisions and winning numerous orders in the third quarter of 2022. Order entry in the months from July to September 2022 amounted to EUR 142.5 million, making it the strongest quarter in the Company’s history in terms of order entry. This represented an increase of 41.1% over the previous year’s figure of EUR 101.0 million. After three quarters of the current fiscal year, order entry rose by a total of 47.1% to EUR 373.3 million. The order backlog increased to EUR 377.3 million as of September 30, 2022, supported by very strong order entry, extended lead times, and delays in revenue recognition.

“It is worth noting that all divisions contributed double-digit growth rates to order entry, both in the past quarter and over the last nine months. The Photomask Equipment and Bonder divisions in particular recorded very strong demand for mask cleaners and automated bonders for high-volume production,” says Dr. Bernd Schulte, Chief Executive Officer of SÜSS MicroTec SE. “Our order backlog will thus keep utilization of production capacity high in 2023 – and partly beyond the coming year.”

In the first nine months of the 2022 fiscal year, sales grew by 3.6% to EUR 195.2 million (previous year: EUR 188.5 million). In the third quarter of 2022, sales amounted to EUR 70.5 million, slightly exceeding the EUR 70.0 million achieved in the previous year’s quarter. Stronger growth momentum was stymied by persistent and significant delivery delays for a large number of purchased parts and components. As of the reporting date, the statement of financial position included equipment worth approximately EUR 21 million, for which revenue recognition was still pending. The majority of this equipment has already been delivered to customers or is ready for delivery. So far this year, sales in the Micro-optics division have increased significantly by 46.2% to EUR 30.7 million. In regional terms, much of the increase was driven by Asia, where sales grew by 9.1% to EUR 137.3 million in the first nine months.

EBIT after three quarters came to EUR 11.0 million (previous year: EUR 17.7 million), corresponding to an EBIT margin of 5.6% (previous year: 9.4%). The decline was primarily attributable to higher production costs due to recent hikes in labor and material costs which via the delayed impact of the recently implemented price increases could not be passed on in total to customers, a change in the product mix, a positive extraordinary effect on the previous year’s EBIT of EUR 1.5 million and the EUR 2.1 million increase in expenses for research and development. As a result, the R&D ratio rose from 8.5% to 9.3%. EBIT for the third quarter of 2022 came to EUR 5.9 million (previous year: EUR 9.7 million), corresponding to an EBIT margin of 8.4% (previous year: 13.9%).

Free cash flow increased further in the past quarter as a result of initiatives introduced to increase customer prepayment rates and amounted to EUR 17.4 million after nine months of 2022 (previous year: EUR 0.2 million). The net cash position improved from EUR 19.8 million as of September 30, 2021, to EUR 52.2 million as of September 30, 2022.

Outlook

If energy supplies remain secure and external factors, particularly the availability of parts from suppliers, do not deteriorate further, the Company expects sales in the fourth quarter to show at least the same momentum as in the first three quarters of the 2022 fiscal year. “Sales in the fourth quarter will especially depend on customer acceptance and the associated revenue recognition for tools that have been or are about to be delivered,” says Chief Financial Officer Oliver Albrecht.

The Company thus expects to achieve the lower part of its guidance sales range of EUR 270 million to EUR 300 million. For the EBIT margin, SUSS MicroTec expects to reach the lower end of the guidance range of 8.5% to 10.5%. This confirms the guidance for the full year 2022 and narrows down the target expectations within the defined ranges.

The Quarterly Report for the first nine months of the 2022 fiscal year is available in German and English at www.suss.com/de/investor-relations. 

  

Contact:
Sven Köpsel
Head of Investor Relations & Corporate Communications

Email: [email protected]

Phone: +49 89 32007151

  

 

About SUSS MicroTec

SUSS MicroTec is a leading manufacturer of system and process solutions for micropatterning in the semiconductor industry and related markets. In close collaboration with research institutes and industry partners, SUSS MicroTec drives the development of next-generation technologies such as 3D integration and nanoimprint lithography as well as key processes for MEMS and LED production. With its global infrastructure for applications and service, SUSS MicroTec supports more than 8,000 installed systems worldwide. The headquarters of SUSS MicroTec is in Garching, near Munich, Germany. SUSS MicroTec SE’s shares are traded in the Prime Standard segment of the Deutsche Börse (ISIN DE000A10K0235). Additional information can be found at www.suss.com.

Legal Disclaimer
Some of the statements in this press release may be similar in character to forecasts or can be interpreted as such. All information and assessments are based on extremely conscientious research; however, publication is made with no guarantee of their accuracy. All liability is excluded. The statements made above do not constitute an invitation to buy or sell securities. All rights reserved.

 

Contact:
SÜSS MicroTec SE
Sven Koepsel
Investor Relations & Corporate Communications
Schleissheimer Strasse 90
85748 Garching, Germany
Tel.: +49 89 32007-151
Email: [email protected]