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SÜSS MicroTec SE Investor Presentation 2025
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Investor Presentation
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SUSS
May 8, 2025
Conference Call
Q1 2025
© SUSS
Investor Presentation
SUS
Disclaimer
This presentation contains forward-looking statements relating to the business, financial performance and earnings of SUSS MicroTec SE and its subsidiaries and associates.
Forward-looking 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.
SUSS
Investor Presentation
SUSS
Agenda
01 Highlights Q1 2025
02 Key Financial Figures Q1 2025
03 Outlook 2025
© SUSS
Investor Presentation
SUSS
Agenda
01 Highlights Q1 2025
02 Key Financial Figures Q1 2025
03 Outlook 2025
© SUSS
Investor Presentation
Solid start to the year, particularly in terms of sales growth
S
SUSS
Financial Results
Q1 2025
88.1
in € million
Order intake
Q1 2025
-10.4% YoY
123.2
in € million
Sales
Q1 2025
+31.8% YoY
37.9
in %
Gross profit margin
Q1 2025
-1.2pp YoY
16.6
in %
EBIT margin
Q1 2025
+0.7pp YoY
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Investor Presentation
Key CEO messages
Order intake in line with expectations, while sales reached the second-best quarter in the company's history thanks to strong operational execution. Book-to-bill ratio in Q1 amounted to 0.72.
Announcement of wide-ranging tariffs by the US government causes general uncertainty. Possible impact on the global economy, the semiconductor industry and consequently SUSS is still unclear.
So far, we have not seen any substantial project postponements or even cancellations. In general, we prepare to be able to adapt quickly and increase our flexibility to deal with changing circumstances.
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Investor Presentation
Suss
Segment Overview Q1 2025
Advanced Backend Solutions
| in € million | Q1 2025 | Q1 2024 |
|---|---|---|
| Order intake | 54.3 | 64.6 |
| Order book | 242.4 | 294.8 |
| Sales | 82.9 | 56.4 |
| Gross profit | 30.4 | 25.1 |
| Gross profit margin | 36.7% | 44.5% |
| EBIT | 9.7 | 7.2 |
| EBIT margin | 11.7% | 12.8% |
- Order intake below previous year, despite continued strong CoWoS-related demand for our UV projection scanner.
- Sales growth in the first quarter was exceptionally high at +47.0%, mainly driven by execution of AI-related orders for temporary bonding solutions. Imaging and Coating Systems sales were roughly on par with Q1 2024.
- Gross profit margin fell to 36.7% (Q1 2024: 44.5%) mainly due to a change in the product and customer mix, as well as start-up and training costs in Taiwan.
Photomask Solutions
| in € million | Q1 2025 | Q1 2024 |
|---|---|---|
| Order intake | 33.7 | 33.7 |
| Order book | 150.4 | 162.1 |
| Sales | 40.3 | 37.1 |
| Gross profit | 16.2 | 12.2 |
| Gross profit margin | 40.2% | 32.9% |
| EBIT | 13.2 | 8.2 |
| EBIT margin | 32.8% | 22.1% |
- Order intake was at the same level as in the previous year. The order book of around €150 million continues to offer a high degree of visibility and capacity utilization for FY 2025.
- Sales of € 40.3 million represents growth of 8.6% year-on-year, meaning that we once again worked at full capacity.
- Strong growth in gross profit margin of 40.2% and EBIT margin of 32.8% due to favorable customer and product mix and economies of scale from higher business volume.
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Investor Presentation
SUSS
New production site in Zhubei, Taiwan, was officially handed over to us – we are now equipping it for our use.
Comparison of our production sites in Taiwan
Hsinchu
- In operation since: 2020
- One production site + eight sub locations
- Annual rental expenses: low to mid single-digit million-euro figure
- Annual production capacity: tools worth € 100 to 150 million
Zhubei
- Planned production start: H2 2025
- One big site to consolidate all existing sites and teams
- Annual rental expenses: low to mid single-digit million-euro figure
- Annual production capacity: potential for doubling with corresponding customer demand and depending on the product mix
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Investor Presentation
SUSS
Agenda
01 Highlights Q1 2025
02 Key Financial Figures Q1 2025
03 Outlook 2025
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Investor Presentation
SUSS
Strong sales growth and improved Free Cash Flow generation
| in € million | Q1 2025 | Q1 2024 | Change |
|---|---|---|---|
| Order intake | 88.1 | 98.3 | -10.4% |
| Order book as of March 31 | 392.7 | 456.9 | -14.1% |
| Sales | 123.2 | 93.5 | +31.8% |
| Gross profit | 46.7 | 36.6 | +27.6% |
| Gross profit margin | 37.9% | 39.1% | -1.2pp |
| EBIT | 20.4 | 14.9 | +36.9% |
| EBIT margin | 16.6% | 15.9% | +0.7pp |
| Earnings after taxes (continuing operations) | 15.0 | 10.4 | +44.2% |
| Net profit¹ | 15.0 | 68.7 | - |
| EPS basic (in €, continuing operations) | 0.78 | 0.54 | +44.4% |
| Net cash | 130.0 | 102.4 | +27.0% |
| Free cash flow (continuing operations) | 8.9 | -0.4 | - |
| Free cash flow total¹ | 8.9 | 70.1 | - |
| Investments | 1.7 | 1.2 | +41.7% |
| Employees as of March 31 | 1,509 | 1,273 | +18.5% |
- Order intake below previous year, but not a surprise after record in Q4 2024.
- Very positive sales development, driven by both segments (Advanced Backend Solutions: +47.0%; Photomask Solutions: +8.6%).
- Gross profit margin at 37.9% due to change in product/customer mix and preparation for increased UV projection scanner production in Taiwan.
- EBIT margin up by 0.7pp thanks to higher gross profit and disproportionately low OPEX increase.
- Free cash flow from continuing operations improved: slower inventory build-up and change in contract assets were positive drivers.
- Investments still at a moderate level, but will increase significantly in the coming quarters due to the new site in Taiwan
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Investor Presentation
SUSS
Positive sales trend continued, EBIT margin improved year on year
Excellent sales development and solid order intake after exceptional Q4 2024.
Order intake
Sales
Gross profit margin
EBIT margin
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Investor Presentation
SUSS
Our two segments with different margin development trends
Order intake
(Q1 2025)
€88.1m
Sales
(Q1 2025)
€123.2m
Gross profit margin
(Q1 2025)
37.9%
EBIT margin
(Q1 2025)
16.6%
Advanced Backend Solutions (ABS)
Order intake by quarters
Sales by quarters
Gross profit margin by quarters
EBIT margin by quarters
Photomask Solutions (PS)
Order intake by quarters
Sales by quarters
Gross profit margin by quarters
EBIT margin by quarters
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Investor Presentation
SUSS
Order Intake by Segment (in € m) and Region (in %)
Book-to-bill ratio
Q1 2025: 0.72
€ 420.5m
FY 2023
Advanced Backend Solutions
Photomask Solutions
Order Intake by Region Q1 2025
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Investor Presentation
SUSS
Minor change in assets in the normal course of business
Assets
in € million
1 Negligible change in non-current assets compared to year-end 2024.
2 Inventory up 1.5 percent in the first quarter to € 217.1 million, after strong increase in FY 2024.
3 Cash and cash equivalents increased by € 7.5 million to €143.7 million as result of operations in the first quarter.
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Investor Presentation
SUSS
Changes due to net income and tax effects
Liabilities and equity
in € million
| Equity | 500.9
Equity ratio: 55.9% | 513.4
Equity ratio: 57.1% |
| --- | --- | --- |
| Non-current liabilities | 279.7 | 292.9 |
| Current liabilities | 38.6 | 42.7 |
| | 2 | 42.7 |
| | 3 | 177.7 |
December 31, 2024
March 31, 2025
- Equity position strengthened by net profit
- Non-current liabilities up, driven by a € 4.1m increase in deferred tax liabilities.
- Lower tax liabilities (€ -8.2 million) and other financial liabilities (€ -3.8 million) were the main drivers of the development, while trade payables, contract liabilities and other liabilities increased slightly.
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Investor Presentation
SUSS
Agenda
01 Highlights Q1 2025
02 Key Financial Figures Q1 2025
03 Outlook 2025
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Investor Presentation
SUS
Q1 sales and current order book provide a solid basis for achieving our sales target for 2025 as a whole
Sales achieved in the first quarter of 2025
€ 123.2 million
Order book as of March 31, 2025, of which the majority is expected to be executed in 2025
€ 392.7 million
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Investor Presentation
SUSS
We confirm our forecast for the full year 2025, but the risk situation has deteriorated due to the current tariff and trade dispute.
Guidance 2025
(as of March 27, 2025)
Macroeconomic risks have increased: The full rollout or even further tightening of the initially announced US tariffs, further significant changes in exchange rates and substantial customer project postponements or order cancellations are not factored in.
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Investor Presentation
SUSs
Investor Relations information
Conference and Roadshow Calendar
-
May 21, 2025
Chicago Roadshow, hosted by Jefferies -
May 22, 2025
Berenberg European Conference, New York City -
May 27, 2025
db European Champions Conference, Frankfurt -
June 12, 2025
Warburg Highlights Conference, Hamburg -
November 17, 2025
SUSS Capital Markets Day, Garching/Munich
There may be changes to the SUSs conference and roadshow schedule.
Financial Calendar
-
May 8, 2025
Q1 Report 2025 -
June 3, 2025
Annual General Meeting -
August 7, 2025
Half Year Report 2025 -
November 6, 2025
Q3 Report 2025
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SUSS
Thank you
Growing Innovation
Sven Koepsel
VP Investor Relations & Communications
Tel.: +49 89 32007-151
E-mail: [email protected]
Florian Mangold
Manager Investor Relations
Tel.: +49 89 32007-306
E-mail: [email protected]