SÜSS MicroTec SE

Earnings Release • Nov 4, 2003

News Details

Ad-hoc | 4 November 2003 20:29

Süss Micro Tec AG english

SUSS MicroTec: Improved Earnings also in the Third Quarter Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– SUSS MicroTec: Improved Earnings also in the Third Quarter · Q3 EBITDA close to break even · Optimistic to achieve Free Cash Flow Break Even for 2003 · Positive sentiment for 2004 Munich, November 4, 2003 – SUSS MicroTec’s results are again significantly improved. Earnings after tax at EUR -1.3 million compared to EUR -3.0 in the previous quarter, although Sales as well as Gross profit margin are on the same range as in Q2. The earnings improvement was mainly reached by further reduction of overhead costs. The key figures of the quarter: Net sales EUR 21.4 million (Q2/2003: EUR 21.6 million, -0.7%). Gross profit EUR 9.0 million (Q2/2003: EUR 9.5 million, -4.8%). Gross profit margin 42.0% (Q2/2003: 43.8%). EBITDA EUR -0.3 million (Q2/2003: EUR -2.7 million). Earning before tax EUR -2.0 million (Q2/2003: EUR -4.6 million). Net cash in hand: EUR 13.0 less current bank liabilities EUR 3.2 million. Based on changes in the working capital due to the preparations to the strong delivery in the fourth quarter, Q3 as usual shows a seasonally negative operating Cash flow. In the first nine months a slightly positive Free cash flow of EUR 0.2 million was achieved (Q2/2003: EUR 2.5 million). Order entry went up to EUR 26.1 million (Q2/2003: EUR 25.0 million). Year on year the group’s order entry was down 8.7% in the first nine months, yet order entry was roughly par with the previous year (-0.9%) after eliminating exchange- rate effects. The order backlog as of September 30, 2003, adjusted for currency effects and cancellations, was EUR 43.8 million. Management expects significantly higher sales for the fourth quarter 2003 compared with previous quarters. Q4 Free cash flow is expected to be at least break even, thus we will fulfil our guidance of a balanced Free cash flow for the full year 2003. Since many of our clients report high utilization rates in the meantime, we expect business development in 2004 to be very positive. Due to extraordinary favourable feedback to our new products, we expect to fully share in the growth 2004 forecasted by analysts as well as by other market participants. end of ad-hoc-announcement (c)DGAP 04.11.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Q3/2003 in comparison: EUR million Q3/2003 Q2/2003 9 months 2003 9 months 2002 Net order entry 26.1 25.0 76.4 83.6 Net order backl — — 43.8 54.4 Net Sales 21.4 21.6 60.6 84.7 Equity — — 107.0 119.2 Equity ratio — — 72.4% 67.7% Net Cash — — 9.8 8.1 Free Cash Flow -6.9 2.5 0.2 -2.9 Gross Profit 9.0 9.5 23.2 39.6 GrossProfitMarg 42.0% 43.8% 38.3% 46.7% EBITDA -0.3 -2.7 -10.5 -10.6 EAT -1.3 -3.0 -10.1 -8.9 EPS diluted -0.09 -0.20 -0.67 -0.60 Employees — — 711 937 For further information, please contact: Barbara von Frankenberg, Investor Relations SUSS MicroTec, Tel: +49 (0)89 32007-314, email: b.frankenberg@suss.de ——————————————————————————– WKN: 722670; ISIN: DE0007226706; Index: TecDAX Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 042029 Nov 03