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SÜSS MicroTec SE — Investor Presentation 2021
May 12, 2021
422_ip_2021-05-12_97cbb07d-4427-4954-ae6e-aac24dc7ce30.pdf
Investor Presentation
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SUSS MICROTEC QUARTERLY NUMBERS Q1 2021
May 12, 2021
This presentation contains forward-looking statements relating to the business, financial performance and earnings of SUSS MicroTec SE and its subsidiaries and associates. Forwardlooking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of SUSS MicroTec SE. Consequently, actual developments as well as actual earnings and performance may differ materially from those which explicitly or implicitly assumed in the forward-looking statements. SUSS MicroTec SE does not intend or accept any obligation to publish updates of these forward-looking statements.
OPENING REMARKS NEW CEO/COO
New management since May, 1st 2021
Dr. Götz M. Bendele Chief Executive Officer (CEO)
Oliver Albrecht Chief Financial Officer (CFO); since Nov. 2019
Dr. Thomas Rohe Chief Operating Officer (COO)
Q1 2021 AT A GLANCE
Development Q1 2021 vs Q1 2020:
- Order entry increased by more than 17%
- Sales went up by 26.1%
- Strongly improved GP- and EBIT margins
- Free cashflow and net cash rose considerably
- No one-off effects in Q1 2021
Business update by segment:
- Lithography: strong quarter especially for coaters/developers and mask aligners, with significant EBIT improvement
- Bonder: good order entry in Q1 but lower sales due to postponements of tool shipments into Q2 2021
- Photomask Equipment: "lumpy business" quarter on quarter but on good level
- MicroOptics: improved earnings-margin at stable sales and order entries
KEY GROUP FIGURES Q1 2021
| in € M |
Q1 2021 | Q1 2020 | Change |
|---|---|---|---|
| Order entry | 81.0 | 69.0 | +17.4% |
| Order Backlog 03/31 |
148.2 | 120.8 | +22.7% |
| Sales | 52.6 | 41.7 | +26.1% |
| Gross Profit margin |
32.9% | 24.5% | +8.4%pts |
| EBIT | 1.4 | -5.6 | -- |
| EBIT margin | 2.7% | -13.4% | +16.1%pts |
| EAT | 0.8 | -5.4 | -- |
| EPS in € | 0.04 | -0.28 | -- |
| Free cashflow (in €) |
9.1 | -8.3 | -- |
| Net cash | 39.2 | -19.6 | -- |
| Employees 03/31 |
1041 | 942 | +10.5% |
-
- Ongoing high demand for SUSS-tools throughout the first quarter 2021
-
- Sales growth combined with a better GP margin resulted in a significantly improved EBIT
-
- Q1 2020: Minus € 3.7M one-off costs due to closure of US facility in Corona, USA
-
- Strong quarterly free cashflow
-
- Net cash position is positive with € 39.2M
SUSS MicroTec SE – Investor Presentation 5
ORDER ENTRY BY SEGMENT AND REGION
Order entry by segment
Lithography Bonder Photomask Equipment MicroOptics
Order entry by region (Q1 2021):
SEGMENT OVERVIEW Q1 2021
| Lithography | Photomask Equipment |
||||||||
|---|---|---|---|---|---|---|---|---|---|
| in € M |
Q1 2021 |
Q1 2020 |
in € M | Q1 2021 |
Q1 2020 |
||||
| Order entry |
52.1 | 42.1 | Order entry |
12.2 | 15.9 | ||||
| Sales | 32.2 | 25.5 | Sales | 11.3 | 5.8 | ||||
| GP (margin) | 10.5 | (32.6%) | 5.3 | (20.8%) | GP (margin) | 4.4 | (38.9%) | 2.6 | (44.8%) |
| EBIT (margin) | 2.7 | (8.4%) | -2.3 | (-9.0%) | EBIT (margin) | 2.5 | (22.1%) | 0.8 | (13.8%) |
-
Strong quarter for coaters/developers and mask aligners
-
Order entry for first combined InkJetx/ACS tool in Q1 2021 received; delivery expected in Q4
-
Special effect (scanner business) on EBIT Q1 2020: € -3.7M
| Bonder | MicroOptics | |||||||
|---|---|---|---|---|---|---|---|---|
| in € M | Q1 2021 |
Q1 2020 |
in € M | Q1 2021 |
Q1 2020 |
|||
| Order entry | 9.0 | 5.6 | Order entry |
6.9 | 5.4 | |||
| Sales | 2.1 | 4.3 | Sales | 6.6 | 6.1 | |||
| GP (margin) | -0.1 | (-4.8%) | 0.9 | (20.9%) | GP (margin) | 1.9 | (28.8%) | 1.7 |
| EBIT (margin) | -2.4 | (-114.3%) | -1.1 | (-25.6%) | EBIT (margin) | 0.3 | (4.5%) | -0.2 |
-
Order entry increased due to higher demand for temporary bonders
-
Sales decreased due to postponement of tool shipments into Q2 2021
-
Outlook for the full fiscal year 2021 remains very positive
-
Order entry remains on a high quarterly level
-
GP margin and EBIT margin can be influenced by single customer orders
-
EBIT/EBIT margin increased due to higher sales volume with a better fixed cost coverage
| MicroOptics | |
|---|---|
| -------------------- | -- |
| in € M | Q1 2021 |
Q1 2020 |
in € M | Q1 2021 |
Q1 2020 |
||||
|---|---|---|---|---|---|---|---|---|---|
| Order entry | 9.0 | 5.6 | Order entry |
6.9 | 5.4 | ||||
| Sales | 2.1 | 4.3 | Sales | 6.6 | 6.1 | ||||
| GP (margin) | -0.1 | (-4.8%) | 0.9 | (20.9%) | GP (margin) | 1.9 | (28.8%) | 1.7 | (27.9%) |
| EBIT (margin) | -2.4 | (-114.3%) | -1.1 | (-25.6%) | EBIT (margin) | 0.3 | (4.5%) | -0.2 | (-3.3%) |
-
Recovery of order entry and sales
-
Improved GP and EBIT margins due to slightly higher sales volume
-
New clean room completed; installation of production equipment is ongoing
MARKET ESTIMATES AND LONGER TERM OUTLOOK
- Ongoing high market activity - continuously strong order entry
- Uncertainties remain due to COVID-19 pandemic and US/China trade barriers
- Forecasts for semiconductor market growth 2021 range from plus 4.1% (Cowan) to plus 18% (future horizon)
- Mega Trends fully intact:
- Future demand driven by emerging technologies like 5G, IoT, highperformance computing, augmented reality, artificial intelligence, autonomous driving etc.
GUIDANCE 2021
confirmation of Guidance 2021
€ 270 - 290M 9 - 11%
€ 12 - 18M
INVESTOR RELATIONS INFORMATION
Franka Schielke
Tel.: +49 89 32007 161 Fax.: +49 4444 33420 Email: [email protected]
SÜSS MicroTec SE Schleissheimer Strasse 90 85748 Garching Germany www.suss.com
Contact Financial Calendar 2021
| Annual Report 2020 | April 9 |
|---|---|
| Quarterly Report 2021 | May 12 |
| Annual General Meeting 2021 | June 16 |
| Half Year Report 2021 | Aug. 5 |
| Nine Months Report 2021 | Nov. 11 |
SUSS MicroTec SE – Investor Presentation 9