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SÜSS MicroTec SE

Quarterly Report Nov 10, 2020

422_10-q_2020-11-10_5e060fb9-96a6-445a-8514-d20777d37a7d.pdf

Quarterly Report

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Quarterly Report July 1 – September 30, 2020

INDICATORS

in € million Q3 / 2020 Q3 / 2019 Change 9M / 2020 9M / 2019 Change
Business Development
Order entry 44.1 66.0 -33.2% 206.7 157.8 31.0%
Order backlog as of September 30 125.8 115.3 9.1%
Total sales 60.6 37.1 63.3% 173.9 131.1 32.6%
Gross profit 24.5 10.9 124.8% 57.7 39.1 47.6%
Gross margin 40.4% 29.4% 11.0%-Points 33.2% 29.8% 3.4%-Points
Cost of sales 36.1 26.2 37.8% 116.2 92.0 26.3%
Research and Development costs 4.3 5.1 -15.7% 14.2 14.6 -2.7%
EBITDA 10.8 -3.3 -- 17.6 -1.3 --
EBITDA margin 17.8% -8.9% 26.7%-Points 10.1% -1.0% 11.1%-Points
EBIT 9.0 -4.9 -- 12.2 -5.7 --
EBIT margin 14.9% -13.2% 28.1%-Points 7.0% -4.3% 11.4%-Points
Earnings after tax 4.5 -6.8 -- 4.9 -8.7 --
Earnings per share, basic (in €) 0.24 -0.36 -- 0.26 -0.46 --
Balance sheet and cash flow
Equity 129.7 133.5 -2.8%
Equity ratio 58.4% 66.8% -8.4%-Points
Return on equity 3.5% -5.1% 8.6%-Points 3.8% -6.5% 10.3%-Points
Balance sheet total 222.2 199.9 11.2%
Net cash 15.0 -6.6 --
Free cash flow 10.6 -9.8 -- 27.8 -28.7 --
Further key figures
Investments 2.5 1.2 108.3% 8.6 5.0 72.0%
Investment ratio 4.1% 3.2% 0.9%-Points 4.9% 3.8% 1.1%-Points
Depreciation 1.9 1.6 18.8% 5.5 4.4 25.0%
Employees as of September 30 997 935 6.6%

CONTENTS

Business Development in the First Three Quarters 4
Financial Report 10
Consolidated Statement of Income (IFRS) 10
Statement of Comprehensive Income (IFRS) 11
Consolidated Statement of Financial Position (IFRS) 12
Consolidated Statement of Cash Flows (IFRS) 13
Statement of Changes in Equity (IFRS) 14
Segment Reporting (IFRS) 15
Legal Structure 16
Financial Calendar / Contact / Imprint 17

BUSINESS DEVELOPMENT IN THE FIRST THREE QUARTERS

Dear Shareholders,

We look back today on an encouraging third quarter 2020. Despite the restrictions to societal and economic life with corresponding negative effects on the economy caused by the COVID-19 pandemic, we were able to complete the third quarter successfully, in particular regarding sales and EBIT.

A reason for the positive development is the increasing digitalization of our communication, which is rapidly increasing the need for high-power data networks. The need for comprehensive high-bandwidth network coverage and thereby high transmission speed is becoming visible everywhere and is driving the worldwide conversion to the new 5G cellular communication standard. The expanded production of 5G-capable cellular communication components is one of the main drivers for the increased demand for our production machines, particularly for coaters and mask aligners.

The order backlog at the end of the third quarter amounts to EUR 125.8 million after EUR 115.3 million in the previous year. We were able to increase sales in the third quarter compared to the previous year by more than 63 percent, reaching EUR 60.6 million. We were also able to significantly increase earnings before interest and taxes (EBIT) compared to the previous year from EUR -4.9 million to EUR 9.0 million. For the third quarter of 2020, this resulted in an EBIT margin of 14.9 percent compared to -13.2 percent in the previous year's quarter. The high sales, a favorable product mix as well as the good capacity utilization in production allowed for the significant increase in EBIT.

Taking the first nine months of 2020 in account, a very positive picture also emerges here. Order intake amounted to EUR 206.7 million, which corresponds to a growth of 31.0 percent compared to the previous year. Sales increased accordingly and reached an amount of EUR 173.9 million after the first nine months, which corresponds to an increase of 32.6 percent compared to the previous year. Accordingly, EBIT also developed positively and amounted to EUR 12.2 million as of September 30, 2020, after EUR -5.7 million in the comparable period of the previous year. The EBIT margin increased from -4.3 percent to 7.0 percent.

The good orders position at the start of 2020 as well as the continued high demand resulted in a significant increase in sales from the previous year's period. A constant high workload of production, low levels of absenteeism due to illness as well as the efficiency improvement measures introduced in production allowed for the significant increase in EBIT from the previous year. In addition, there are signs that the remaining and already written off production plants from the liquidation of SMT Photonic Systems Inc., California, USA, can still be sold. The third quarter already includes a scanner in sales that had a corresponding positive effect on the EBIT margin. Two additional scanners are scheduled for delivery in the fourth quarter. This partially neutralizes the negative impact on EBIT from the closure costs for the US site for 2020.

Free cash flow after three quarters amounted to EUR 27.8 million after EUR -28.7 million in the previous year. Net cash at the end of the third quarter was EUR 15.0 million after EUR - 6.6 million in the previous year. Along with the significantly improved earnings situation, the measures introduced for reducing working capital have had a very positive impact on free cash flow and the liquidity situation.

Given the good results after nine months as well as the positive outlook for the fourth quarter 2020, we maintain our expectations for sales in the range from € 240 million to € 260 million, but we are now assuming an improved EBIT margin in the range between 5.5 percent and 7.5 percent. Previously, the range for the EBIT margin was estimated at 3 percent to 5 percent. For the fourth quarter 2020 and the first quarter 2021 we expect a cumulated order entry in the range of € 100 to € 110 million. With this forecast, the company assumes that the just recently intensified global measures to contain the COVID-19 pandemic will not have any further negative effects.

Garching, Germany, November 2020

Dr. Franz Richter Oliver Albrecht
Chief Executive Officer Chief Financial Officer

BUSINESS DEVELOPMENT BY DIVISION

Lithography

The Lithography division includes the development, manufacture, and sale of the mask aligner as well as coater/developer product lines. These product lines are manufactured in Germany at the locations in Garching near Munich and in Sternenfels.

With the acquisition of SUSS MicroTec Netherlands B.V. (formerly PiXDRO), SUSS MicroTec added the option of applying photo resists and dielectric layers by means of this new process to its existing lithography product portfolio in its coater/developer segment.

in € million 9M 2020 9M 2019
Order entry 127.2 72.0
Sales 97.8 72.4
Gross Profit 29.7 16.1
Gross Profit Margin 30.4% 22.2%
EBIT 6.2 -8.1
EBIT-Margin 6.3% -11.2%
Net assets 59.6 71.8

In the first nine months of 2020, order entry totaled EUR 127.2 million after EUR 72.0 million in the previous year. As a result, we were able to increase order entry in the division significantly from the previous year. The reason for this was in particular strong order entry in the coater/developer product line. Division sales in the first nine months of 2020 amounted to EUR 97.8 million after EUR 72.4 million in the previous year. This represented growth of 35.1%. The gross profit margin in the division increased from 22.2% to 30.4%. Accordingly, division earnings improved from EUR -8.1 million to EUR 6.2 million. The main reasons for the good development were high-margin sales with mask aligners as well as the significant increase in sales for coaters.

In January 2020, the decision was made to discontinue the UV projection and laser ablation product lines, which were both located California, USA. Therefore, the gross profit margin and EBIT of the Lithography division were burdened in the first nine months of 2020 by expenses for the closure of the production site in California. The closure costs for the site in California in the first nine months of 2020 totaled EUR 5.0 million, of which EUR 2.3 million was disclosed under selling, administrative, and development costs. However, an already written off production plant from the liquidation of SMT Photonic Systems Inc., California, USA, could be sold, which had a positive effect of approx. EUR 0.9 million on EBIT. Without these extraordinary effects, the Lithography division would have had a gross profit margin of 32.2% and an EBIT of EUR 10.3 million in the first nine months of 2020.

By the end of 2020, additional closure costs amounting to approx. EUR 2.0–2.5 million will arise. As a contrary effect to these closure costs, extraordinary income from selling two additional already written off production plants from the liquidation of SMT Photonic Systems Inc., California, USA, amounting to approx. EUR 1.7 million will arise. Hence, the overall extraordinary effect in the fourth quarter of 2020 will be reduced to approx. EUR 0.3–0.8 million.

Bonder

The Bonder division comprises the development, production, and sale of the substrate (wafer) bonder product line. Manufacturing is located at our largest site in Sternenfels. Markets addressed by the bonder systems include microelectromechanical systems (MEMS), compound semiconductors, and 3D TSV integration.

in € million 9M 2020 9M 2019
Order entry 26.8 14.8
Sales 18.9 17.2
Gross Profit 5.6 5.9
Gross Profit Margin 29.6% 34.3%
EBIT -0.6 -0.7
EBIT-Margin -3.2% -4.1%
Net assets 19.0 21.2

Order entry in the Bonder division amounted to EUR 26.8 million in the first nine months of 2020, thereby increasing by 81.1% compared to the previous year. This good development was primarily attributable to good order entry with temporary bonding systems. Sales also developed positively to EUR 18.9 million in the first nine months of 2020 after EUR 17.2 million in the previous year. The gross profit margin amounted to 29.6% after 34.3% in the previous year. At EUR -0.6 million, we were able to improve EBIT slightly after EUR -0.7 million in the previous year. The improvement in earnings is primarily attributable to cost savings in the segments of sales and research and development.

Photomask Equipment

The Photomask Equipment division, which is located at the Sternenfels site, comprises the development, manufacture, and sale of specialized tools for the cleaning and processing of photomasks for the semiconductor industry. The semiconductor industry is among the markets addressed by the Photomask Equipment division. SUSS MicroTec is active here on the front end.

in € million 9M 2020 9M 2019
Order entry 35.5 52.5
Sales 40.0 24.6
Gross Profit 16.7 9.2
Gross Profit Margin 41.8% 37.4%
EBIT 11.0 4.4
EBIT-Margin 27.5% 17.9%
Net assets 18.5 19.6

In the first nine months of 2020, the Photomask Equipment division recorded order entry of EUR 35.5 million (previous year: EUR 52.5 million). The decline in order entry compared to the previous year is due to a normalization of demand in this division. Division sales were encouraging at EUR 40.0 million after EUR 24.6 million a year earlier. The gross profit margin rose from 37.4% to 41.8%. Division earnings increased significantly from EUR 4.4 million to EUR 11.0 million. This significant increase was supported by large-volume orders with very good margins.

Since order entry and sales in this division are usually comprised of a few large individual orders, significant fluctuations in order entry, sales, and therefore earnings are possible over the course of the year.

Micro-optics

The Micro-optics division includes the activities of the SUSS MicroTec subsidiary SUSS MicroOptics at the Hauterive location in Switzerland. The production and sales of microlenses and highly-specialized optics for a variety of industrial applications are housed here.

in € million 9M 2020 9M 2019
Order entry 16.8 17.7
Sales 16.8 16.2
Gross Profit 4.9 6.6
Gross Profit Margin 29.2% 40.7%
EBIT 0.3 2.7
EBIT-Margin 1.8% 16.7%
Net assets 22.5 14.6

Order entry in this division decreased slightly and amounted to EUR 16.8 million (previous year: EUR 17.7 million) in the first nine months of 2020. Sales also increased slightly from the previous year to EUR 16.8 million (previous year: EUR 16.2 million). The gross profit margin amounted to 29.2% after 40.7% in the previous year. Division earnings totaled EUR 0.3 million after EUR 2.7 million in the previous year. Partially as a result of the COVI-19 pandemic, particularly in the Automotive segment, it was not possible to achieve the sales and earnings targets for the first nine months of 2020. The Company had to report reduced working hours in the first and second quarters. Quality concerns with a main supplier, who has now been replaced, had an additional negative impact on earnings. Development activities in order to obtain new orders in the Automotive segment also weighed on earnings.

Others

The Others division mainly comprises costs for central Group functions that cannot be attributed to the main divisions of SUSS MicroTec SE. The central Group functions made a negative EBIT contribution of EUR -4.7 million (previous year: EUR -3.9 million). The increase in comparison to the previous year is mainly due to higher administration costs, especially consulting costs.

THE SUSS MICROTEC SHARE

The SUSS MicroTec share fell to EUR 6.50 in the first quarter of 2020 following the publication of preliminary figures in January and with the start of the global economic downturn compared to a XETRA closing price of EUR 12.54 at the beginning of 2020. Over the same period, the TecDAX fell by approximately 15%. The performance of the Germany Prime IG/Semiconductor Index, which represents the largest listed German companies in the semiconductor industry including SUSS MicroTec SE, was significantly negative in the period from January to March 2020, displaying a loss of approximately 34% on March 31, 2020, compared to the beginning of the year. After the SUSS MicroTec share reached its low for the year at the beginning of April, it was able to rise significantly over the course of the second quarter. At the end of the first half of the year, the XETRA closing price was EUR 14.44, which represented a gain of 15% from the beginning of the year. In the same period, the TecDAX lost approximately 4% while the Prime IG/Semiconductor Index rose by 1%.

In the third quarter of 2020, the SUSS MicroTec share was able to continue its positive share price performance, but had to record a few setbacks at the start of the quarter in July and also in early August and fell to below EUR 13.00. After publication of the mid-year figures and confirming the annual guidance on August 6, 2020, the share price developed very positively and was at a XETRA closing price of EUR 15.82 at the end of the third quarter. This corresponds to growth of approximately 26 percent from the start of the year. In the same period, the TecDAX experienced a minor gain in share price of less than one percent, while the Prime IG Semiconductor increased by approximately 12 percent in the first nine months of 2020.

The average daily trading volume of SUSS MicroTec shares on the German XETRA stock exchange in the first nine months of 2020 amounted to approximately 71 thousand shares (previous year: average daily trading volume of approximately 26 thousand shares).

CONSOLIDATED STATEMENT OF INCOME (IFRS)

in € thousand 01.07.2020 -
30.09.2020
01.07.2019 -
30.09.2019
01.01.2020 -
30.09.2020
01.01.2019 -
30.09.2019
Sales 60,603 37,056 173,922 131,126
Cost of sales -36,136 -26,162 -116,244 -92,038
Gross profit 24,467 10,894 57,678 39,088
Selling costs -5,768 -5,513 -15,746 -15,791
Research and development costs -4,332 -5,137 -14,197 -14,595
Administration costs -5,096 -4,694 -14,984 -13,467
Other operating income 917 239 2,010 847
Other operating expenses -1,225 -690 -2,610 -1,757
Analysis of net income from operations (EBIT):
EBITDA (Earnings before Interest and Taxes,
Depreciation and Amortization)
10,861 -3,298 17,631 -1,257
Depreciation and amortization of tangible assets,
intangible assets and investments in subsidiaries
-1,898 -1,603 -5,480 -4,418
Net income from operations (EBIT) 8,963 -4,901 12,151 -5,675
Financial income 0 0 3 9
Financial expense -33 -66 -355 -176
Financial result -33 -66 -352 -167
Profit / loss from continuing operations before taxes 8,930 -4,967 11,799 -5,842
Income taxes -4,380 -1,865 -6,891 -2,868
Profit / loss from continuing operations 4,550 -6,832 4,908 -8,710
Thereof equity holders of SUSS MicroTec 4,550 -6,832 4,908 -8,710
Thereof non-controlling interests 0 0 0 0
Earnings per share (basic)
Earnings per share in € 0.24 -0.36 0.26 -0.46
Earnings per share (diluted)
Earnings per share in € 0.24 -0.36 0.26 -0.46

STATEMENT OF COMPREHENSIVE INCOME (IFRS)

in € thousand 01.01.2020 -
30.09.2020
01.01.2019 -
30.09.2019
Net profit / loss 4,908 -8,710
Items that are not reclassified to profit and loss
Remeasurements on defined benefit pension plans 0 0
Deferred taxes 0 0
Other income after tax for items that are not
reclassified as an expense or income
0 0
Items that will be reclassified to profit and loss in later
periods
Foreign currency adjustment -561 1,816
Cash flow hedges 0 0
Deferred taxes 0 0
Other income after tax for items that will be
reclassified to profit and loss in later periods
-561 1,816
Total income and expenses recognized in equity -561 1,816
Total income and expenses reported in the reporting
period
4,347 -6,894
Thereof equity holders of SUSS MicroTec SE 4,347 -6,894
Thereof non-controlling interests 0 0
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (IFRS)
----------------------------------------------------- --
in € thousand 30.09.2020 31.12.2019
Assets
NON-CURRENT ASSETS 66,577 55,109
Intangible assets 4,780 4,153
Goodwill 18,378 15,707
Tangible assets 38,826 33,905
Other assets 1,061 568
Deferred tax assets 3,532 776
CURRENT ASSETS 155,581 144,789
Inventories 84,555 75,047
Trade receivables 13,941 18,992
Contract assets 25,706 31,182
Other financial assets 186 366
Securities 0 0
Current tax assets 436 4,708
Cash and cash equivalents 25,637 10,280
Other assets 5,120 4,214
TOTAL ASSETS 222,158 199,898
in € thousand 30.09.2020 31.12.2019
Liabilities & shareholders' equity
Equity 129,735 125,388
Total equity attributable to shareholders
of SUSS MicroTec SE
129,735 125,388
Subscribed capital 19,116 19,116
Reserves 111,514 106,606
Accumulated other comprehensive income -895 -334
NON-CURRENT LIABILITIES 35,117 24,468
Pension plans and similar commitments 6,482 6,037
Financial debt 9,375 10,500
Financial debt from lease obligations 7,570 4,638
Deferred tax liabilities 11,690 3,293
CURRENT LIABILITIES 57,306 50,042
Provisions 4,728 4,198
Tax liabilities 185 702
Financial debt 1,295 10,399
Financial debt from lease obligations 2,822 2,751
Other financial liabilities 7,189 6,773
Trade payables 10,962 10,013
Contract liabilities 23,834 9,346
Other liabilities 6,291 5,860
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 222,158 199,898

CONSOLIDATED STATEMENT OF CASH FLOWS (IFRS)

in € thousand 01.01.2020 -
30.09.2020
01.01.2019 -
30.09.2019
Net profit / loss (after taxes) 4,908 -8,710
Amortization of intangible assets 474 838
Depreciation of tangible assets 5,006 3,580
Profit or loss on disposal of intangible and tangible assets -59 0
Change of reserves on inventories 1,496 2,795
Change of reserves for bad debts -171 -56
Non-cash income from the reversal of pension accruals 0 0
Other non-cash effective income and expenses -164 235
Change in inventories -8,424 -13,686
Change in contract assets 5,481 -2,904
Change in trade receivables 5,558 5,200
Change in other assets -1,166 386
Change in pension provisions 433 32
Change in trade payables 666 963
Change in contract liabilities 12,219 -4,658
Change in other liabilities and other provisions 542 -4,983
Change of tax assets and tax liabilities 9,563 -2,775
Cash flow from operating activities 36,362 -23,743
in € thousand 01.01.2020 -
30.09.2020
01.01.2019 -
30.09.2019
Disbursements for other tangible assets -4,653 -4,584
Disbursements for intangible assets -587 -386
Purchases of current available-for-sale securities -3,307 0
Cash flow from investing activities -8,547 -4,970
Repayment of bank loans -750 -750
Increase of bank loans 0 10,000
Repayment of leasing liabilities -2,126 -627
Change in other financial debt -9,479 1
Cash flow from financing activities -12,355 8,624
Adjustments to funds caused by exchange-rate fluctuations -103 178
Change in cash and cash equivalents 15,357 -19,911
Funds at beginning of the year 10,280 30,672
Funds at end of the period 25,637 10,761
Cash flow from operating activities includes:
Interest paid during the period 250 92
Interest received during period 2 8
Tax paid during the period 2,197 5,221
Tax refunds during the period 5,230 134
in € thousand Subscribed
capital
Additional
paid-in
capital
Earnings
reserve
Retained
earnings
Accumulated other comprehensive income to shareholders of
SÜSS MicroTec SE
Total equity
attributable
Items that will not be reclassified
to profit or loss
to profit or loss in later periods
Items that will be reclassified
Remeasurements on
defined benefit
pension plans
Deferred taxes Foreign currency
adjustment
Deferred taxes
As of January 01, 2019 19,116 71,547 202 51,118 3,290
-
751 991 - 140,435
Net income / loss - - - -8,743 - - - - -8,743
Total income and expenses recognized in equity - - - - - - 1,816 - 1,816
Total comprehensive income / loss - - - -8,743 - - 1,816 - -6,927
As of September 30, 2019 19,116 71,547 202 42,375 -3,290 751 2,807 - 133,508
As of January 01, 2020 19,116 55,822 202 50,582 3,610
-
941 2,335 - 125,388
Net income / loss - - - 4,908 - - - - 4,908
Total income and expenses recognized in equity - - - - - - -561 - -561
Total comprehensive income / loss - - - 4,908 - - -561 - 4,347
As of September 30, 2020 19,116 55,822 202 55,490 -3,610 941 1,774 - 129,735

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (IFRS)

Segment reporting is part of the Notes to the consolidated financial statements
S)
R
F
G (I
N
TI
R
O
P
E
R
T
N
E
M
G
E
S
in € thousand Lithography Substrate Bonder Photomask Equipment MicroOptics Other Consolidation effects Total
9M / 2020 9M / 2019 9M / 2020 9M / 2019 9M / 2020 9M / 2019 9M / 2020 9M / 2019 9M / 2020 9M / 2019 9M / 2020 9M / 2019 9M / 2020 9M / 2019
External Sales 97,812 72,380 18,884 17,158 40,002 24,608 16,840 16,154 384 826 - - 173,922 131,126
Internal Sales - - - - - - - - 8,071 6,890 -8,071 -6,890 - -
Total Sales 97,812 72,380 18,884 17,158 40,002 24,608 16,840 16,154 8,455 7,716 -8,071 -6,890 173,922 131,126
Result per segment (EBIT) 6,155 -8,073 -578 -746 10,969 4,356 258 2,670 -4,653 -3,882 - 12,151 -5,675
Income before taxes 6,123 -8,106 -587 -768 10,960 4,355 259 2,666 -4,956 -3,989 - - 11,799 -5,842
Significant non-cash items 3,011 -2,896 -559 1,046 382 -239 -410 -130 - - - - 2,424 -2,219
Segment assets 94,583 93,278 24,341 24,530 25,456 26,053 24,139 17,348 17,666 18,314 - - 186,185 179,523
thereof goodwill 18,378 15,766 - - - - - - - - - - 18,378 15,766
Unallocated assets 35,973 20,335
Total assets 222,158 199,858
Segment liabilities -35,001 -21,481 -5,361 -3,352 -6,964 -6,506 -1,624 -2,735 -1,055 -2,055 - - -50,005 -36,129
Unallocated liabilities -42,418 -30,221
Total liabilities -92,423 -66,350
Depreciation and amortization 2,546 1,716 205 256 143 138 1,688 1,051 898 1,257 - - 5,480 4,418
thereof scheduled 2,546 1,716 205 256 143 138 1,688 1,051 898 1,257 - - 5,480 4,418
thereof impairment loss - - - - - - - - - - - -
Capital expenditure 4,280 1,729 174 277 246 84 3,019 1,453 828 1,427 - - 8,547 4,970
Workforce at June 30 616 561 98 103 150 146 100 91 33 34 - - 997 935

Segment information by region

in € thousand Sales Capital expenditure Assets
(without Goodwill)
9M / 2020 9M / 2019 9M / 2020 9M / 2019 9M / 2020 9M / 2019
EMEA 28,167 38,099 7,712 4,473 155,550 134,053
North-America 18,344 11,977 - 432 3,651 20,562
Asia and Pacific 127,411 81,050 835 65 8,660 9,590
Consolidation effects - - - - -54 -448
Total 173,922 131,126 8,547 4,970 167,807 163,757

LEGAL STRUCTURE

FINANCIAL CALENDAR

Publication annual financial report 2020 Apr 9, 2021
Publication quarterly financial report Q1/2021 May 12, 2021
Annual General Meeting Jun 16, 2021
Publication half-yearly financial report 2021 Aug 5, 2021
Publication quarterly financial report Q3/2021 Nov 11, 2021

CONTACT

SUSS MicroTec SE

Schleißheimer Straße 90 85748 Garching, Germany Phone: +49 89 32007-100 E-mail: [email protected]

Investor Relations Phone: +49 89 32007-161 Email: [email protected] www.suss.com

Forward-looking statements: Interim reports include forward-looking statements. Forward-looking statements are statements that do not present historical facts, including statements about expectations and the views of the management of SUSS MicroTec SE. These statements are based on current plans, estimates, and forecasts of the Company's management. Investors should not unreservedly rely on these statements. Forward-looking statements are to be understood in the context of the time at which they were made. The Company does not assume any obligation to update the forward-looking statements included in this report given new information or future events. This does not affect the Company's obligation to comply with its statutory responsibilities regarding information and reporting. Forward-looking statements also include risks and uncertainties. A large number of factors that are described in this report could cause actual events to deviate substantially from the forward-looking statements included in this report.

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