SÜSS MicroTec SE

Earnings Release • Nov 6, 2002

News Details

Ad-hoc | 6 November 2002 07:25

Süss Micro Tec AG english

SÜSS MicroTec: 3rd Quarter Results as Expected Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Sales and New Orders at Previous Quarters Levels/ Course of 3rd-Quarter Results in Line with Expectations/ Reduced earnings expectation for full year 2002 Munich, November 6, 2002. SÜSS MicroTec, one of the worlds leading manufacturers of manufacturing and testing equipment for microelectronics, posts, as already reported, sales fairly constant for the third quarter of fiscal 2002 in comparison with the previous quarters. Third-quarter net sales totaled EUR 28.3 million after EUR 27.5 million in the previous quarter(3rd quarter 2001: EUR 48.7 million). In the first nine months of 2002, sales totaled EUR 84.7 million (2001: EUR 151.2 million, -44% on the year). New orders at EUR 30.1 million were at the previous quarters level (EUR 29.7 million) and EUR 1.4 million up on the third quarter 2001. The nine-months figure, at EUR 83.6 million, was 33.2% down on the year (EUR 125.3 million). EBITDA (Earnings Before Interest, Tax and Depreciations) amounted to EUR -4.1 million (previous quarter: EUR -4.6 million). The EBITDA margin (EBITDA in relation to net sales) was -14.4% after -16.9% in the second quarter, 2002. EBIT (Earnings Before Interest and Tax) were EUR -5.4 million after EUR -6.2 million in the previous quarter. That corresponds to an EBIT margin of -19.1% (previous quarter: -22.5%). Gross profit at SÜSS MicroTec was EUR 12.8 million, with a gross margin of 45.2% (2nd quarter 2002: EUR 12.8 million, 46.5%). EAT (Net Earnings After Tax) at EUR -2.8 million were also because of tax effects 30,9% higher than the previous quarter (EUR -4.1 million). EPS (Earnings Per Share) were EUR -0.19 against EUR -0,27 in the previous quarter. Due to the current development of order entry the board expects total sales to be at 130 Mio. Euro for FY 2002. Based on latest estimates and expected one time effects up to EUR 4 million after taxes (especially restructuring costs and increased inventory allowances) the board expects for the running fourth quarter a break even result only. Therefore the after tax losses for the full year could raise up to EUR -9 million. Primary goal of the restructuring measures is to achieve a positive free cash flow in 2003. end of ad-hoc-announcement (c)DGAP 06.11.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: in Mio. Euro Q.3/02 Q.2/02 Q.1-3/02 Q.1-3/01 Incoming order 30.1 29.7 83.6 125.3 Net sales 28.3 27.5 84.7 151.2 Gross profit 12.8 12.8 39.6 87.5 Gross margin 45.2% 46.5% 46.7% 57.9% EBITDA -4.1 -4.6 -10.6 30.5 EBITDA margin -14.4% -16.9% -12.5% 20.2% EBIT -5.4 -6.2 -15.0 23.8 EBIT margin -19.1% -22.5% -17.7% 15.7% EAT -2.8 -4.1 -8.9 11.6 EPS -0.19 -0.27 -0.60 0.84 ——————————————————————————– WKN: 722670; ISIN: DE0007226706; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 060725 Nov 02