SÜSS MicroTec SE

Earnings Release • Mar 29, 2004

News Details

Ad-hoc | 29 March 2004 20:27

SUSS MicroTec: Results for Fiscal 2003

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– SUSS MicroTec: Results for Fiscal 2003 ·Sales EUR 92.6 million, Order Entry EUR 101 million ·Primary target of balanced Free Cash Flow clearly exeeded ·Inventories further reduced Munich, March 29, 2004 – SUSS MicroTec AG today announces the annual report 2003 as follows: Net Sales totalled EUR 92.6 million, a 27% decline compared to the previous year’s figure (EUR 127,5 m). Order Entry reached EUR 101 million showing a stabilization on 2002 level (EUR 104,5 m; -3%). Also in 2003 capacity buys especially in the 200mm segment were missing. Gross margin in 2003 increased – despite the negative currency impact of the US- Dollar – to 39.4% (2002: 37.6%). Due to additional factors, including valuation allowance on losses carried forward, EAT (Earning after Tax) totalled EUR -14.5. Tax rate was at 19% instead of typically approx. 38%. The primary target for 2003, a balanced Free Cash Flow (Operating Cash Flow less investments) with EUR 4.6 million was clearly exceeded. On December 31, 2003 SUSS MicroTec Group had EUR 23.6 million in liquid assets (EUR 26.8 m cash at banks; EUR 3.2 m current liabilities to banks). The Group’s equity margin was 64% (2002: 68%). Inventories were further reduced to EUR 41.9 million. The number of employees at year end was 716 (2002: 878). Outlook 2004: SUSS MicroTec’s Management Board expects for 2004 a sustainable increase in production equipment demand particularly in Asia and North America. After two years of investments in technology the customers now require production equipment. Thus an order entry increase of about 20% is expected and also to achieve break even on EBIT level. Currently, EBIT break even is in the rage of EUR 115 to 120 million. The primary target in 2004 is to return to profitability, although we are not expecting to reach breakeven point on a quarterly basis until the third quarter. Profitability for the year as a whole will be achieved at the conclusion of the fourth quarter. The results 2003 at a glance: Mio. Euro 2002 2003 Q4/2002 Q4/2003 Net Order Entry 104.5 101.0 20.9 24.6 Net Order Backlog 32.4 33.9 — — Net Sales 127.5 92.6 42.8 32.0 Equity 118.5 102.4 — — Equity Margin 68% 64% — — Net Cash 13.4 23.6 — — Free Cash Flow -0.1 4.6 2.8 4.4 Gross Profit 47.9 36.4 — — Gross Profit Margin 37.6% 39.4% — — EBITDA -9.4 -11.0 1.2 -0.5 EBITDA Margin -7.4% -11.9% 2.7% -1.7% EAT -8.9 -14.6 -0.1 -4.4 EPS(Earnings per share in EURO) -0.60 -0.97 0.00 -0.29 Employees 878 716 — — Please see our annual report on www.suss.de (pdf download) For further information please contact: SuSS MicroTec AG Investor Relations Barbara von Frankenberg Tel.: +49 (0) 89 / 320 07-314 Fax: +49 (0) 89/ 320 07-450 E-Mail: b.frankenberg@suss.de end of ad-hoc-announcement (c)DGAP 29.03.2004 ——————————————————————————– WKN: 722670; ISIN: DE0007226706; Index: TecDAX, NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 292027 Mär 04