SÜSS MicroTec SE

Earnings Release • Jan 29, 2004

News Details

Ad-hoc | 29 January 2004 20:23

SUSS MicroTec: 2003 Free Cash Flow Break Even achieved

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– 2003 Free Cash Flow Break Even achieved · Very positive development in cash: more than EUR 23 million net on-hand · Sales 2003 below forecast · Sales Q4/2003 approximately 50% above previous quarters · Inventories further reduced Munich, January 29, 2004 – According to preliminary unaudited figures, SUSS MicroTec AG increased its net sales in Q4 2003 by approximately 50% compared with the previous quarters to approx. EUR 32 million. Total sales for the fiscal year 2003 amounted to around EUR 93 million (2002: EUR 127,5 million). As a result the company reached its primary target to achieve at least a balanced free cash flow. This favorable cash development led to more than EUR 26 million funds and accordingly, after deduction of bank loans, to more than EUR 23 million cash on-hand. As in previous years, also in 2003, Q4 was by far the strongest quarter in terms of sales. Nevertheless the more cautious increase in demand for machines for short term delivery at the end of the year showed that the upturn is still to come for our market segment. This was also reflected in Q4 order entry, which at approx. EUR 25 million remained within the range of the previous quarters. The negative exchange rate development of the US-Dollar with respect to the Euro had a significant impact on order entry as well as sales numbers, because approximately one third of the total business was done in the Dollar zone. The resulting currency losses also impacted the group earning figures therefore, we have to expect also the resulting fourth quarter figures to be negative. Without losses related to the weak dollar and other extraordinary effects including a correction of assets based on loss carry forward, the results for the fourth quarter would have been positive. For fiscal year 2004 a significant increase in order entry is expected beginning during the first half year, which will have a favorable impact on sales and earnings. This expectation is based on released investment plans from our customers and subsequent contract negotiations, which we expect to finalize in the coming months. SUSS MicroTec will announce its final, audited figures and results for the business year 2003 on March 29, 2004 after offical hours. For further information, please contact: Barbara v. Frankenberg, Investor Relations, Tel.: +49-89-32007-314, email: b.frankenberg@suss.de end of ad-hoc-announcement (c)DGAP 29.01.2004 ——————————————————————————– WKN: 722670; ISIN: DE0007226706; Index: TecDAX Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 292023 Jän 04