Mycronic AB Releases Interim Report January-September 2015


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Third quarter July-September 2015

  • Order intake was SEK 559 (842) million
  • Net sales were SEK 605 (338) million
  • EBIT was SEK 262 (37) million
  • Earnings per share were SEK 2.33 (0.31)

Interim period January-September 2015

  • Order intake was SEK 1,341 (1,410) million
  • Net sales were SEK 1,194 (819) million
  • EBIT was SEK 289 (45) million
  • Earnings per share were SEK 2.52 (0.34)

Outlook

The Board’s assessment remains that sales in 2015 will be in the span SEK 1,650 -1,750 million.

Strong performance throughout the Group

“Healthy growth characterized the third quarter and the year’s first nine months as regards sales and gross margins within both business areas. Adjusted for currency effects, sales growth was 30 percent. The delivery of an advanced display mask writer contributed significantly to the operating profit. The order backlog remained strong after this mask writer delivery and was SEK 849 million at the end of the quarter, exceeding last year by more than SEK 100 million.

Another advanced mask writer will be delivered during the fourth quarter," says Lena Olving, CEO and President of Mycronic AB.

Mycronic’s launches of production solutions for effective electronics production has led to increased demand within both of Mycronic’s business areas, strengthening the company's market and financial positions. In nine months, Mycronic has received orders for a total of seven mask writers for different applications. The company's replacement offering for customers with older mask writers for display applications has been well received with three orders thus far this year.

Mycronic's investments in product development within existing product areas are now complemented with efforts supporting major technological leaps within SMT.

By widening the product offering to include other segments, opportunities are created for a position shift, which is in line with the company's strategy for growth.

"Besides maintaining and developing our existing offering, we are investing in product development for new needs and new markets within SMT. This includes bothnew geographic markets and new product segments. We will ensure the development of an attractive product offering which corresponds to customers' high demands for effective electronics production within segments where we have not traditionally been active. To this end, we entered into a partnership with a high-tech engineering company in Asia during the third quarter, increasing the pace in the execution of our product development strategy within SMT. Through this partnership, we complement our unique competence with specific technology and market competence for new customer requirements," says Lena Olving.

Mycronic’s assessment is that costs for these efforts will be high for a number of years to come. It is beneficial to do this now while the Group is experiencing both strong sales and a good profit. These opportunities for unique activities clearly confirm the logic behind the Mycronic merger of two companies in 2009, both of which are active within different areas of the electronics industry.

About Mycronic

Mycronic AB is a high-tech Swedish company engaged in developing, manufacturing and marketing of production solutions to the electronics industry. Mycronic headquarters are located in Täby, north of Stockholm and the Group has subsidiaries in China, France, Germany, Japan, Singapore, South Korea, Taiwan, the Netherlands, United Kingdom and the US.

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