Süss MicroTec AG / Key word(s): Quarter Results 04.11.2010 07:18 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- AD HOC ANNOUNCEMENT IN ACCORDANCE WITH SECTION 15 GERMAN SECURITIES TRADING LAW (WpHG) SUSS MicroTec AG: Q3 2010 Results Outperform Expectations - Order Entry of EUR 56.9 Million in the Third Quarter (Q3 2009: EUR 24.0 Million) - Sales in the Third Quarter Rise by 57% to EUR 37.0 Million (Q3 2009: EUR 23.6 Million) - EBIT in the First Nine Months Totals EUR 8.4 Million (9M 2009: EUR 1.2 Million) - EBIT Forecast for Full Year 2010 Raised Significantly to EUR 11-13 Million Garching near Munich, Germany, November 4, 2010 - SUSS MicroTec AG (business address: Schleissheimer Strasse 90, 85748 Garching, Germany; ISIN: DE0007226706), which is listed in the Prime Standard of Deutsche Börse AG, published its financial figures for the third quarter and first nine months of the 2010 fiscal year today. According to the results, the strong demand for SUSS MicroTec equipment, which was already evident in the first half of 2010, rose once again in the third quarter. Order entry increased in the months from July to September 2010 by approximately 137% to EUR 56.9 million after EUR 24.0 million in the same period of the previous year. Sales in the third quarter totaled EUR 37.0 million, exceeding the previous year's quarterly figure by approximately 57% (Q3 2009: EUR 23.6 million). A nine-month review paints just as encouraging a picture: in the first nine months of 2010, order entry of EUR 139.8 million surpassed the total of EUR 63.9 million for the same period of the previous year by approximately 119%. Compared with the same period of the previous year, sales increased by approximately 37% from EUR 70.6 million in 2009 to EUR 96.6 million. The order backlog as of September 30, 2010 amounted to EUR 108.0 million (September 30, 2009: EUR 57.6 million). Gross profit margin in the third quarter rose to 41.9% from 39.0% in the corresponding year-earlier period as a result of several high-margin orders in the Lithography division. However, the gross profit margin for the year to date was 36.9%, reflecting certain lower-margin Bonder systems, which were delivered in the second quarter of 2010 as part of strategic R&D cooperative agreements. Earnings before interest and taxes (EBIT) developed very positively in the third quarter of 2010, totaling EUR 5.0 million, which corresponds to an EBIT margin of approximately 13.5%. As a result, it was possible to generate EBIT of EUR 8.4 million in the first nine months of 2010 (9M 2009: EUR 1.2 million). During the first nine months of 2010, extraordinary effects of about EUR 0.2 million were recorded as a result of business combinations and restructuring measures. The net impact of these extraordinary effects improved earnings, whereby EUR 1.5 million accrued to the period from January to June and EUR -1.3 million to the period July to September. The extraordinary effects primarily consisted of the following: - The initial consolidation of HamaTech APE GmbH & Co. KG resulted in badwill of EUR 2.7 million. - Restructuring expenses of EUR -0.3 million resulted from the amalgamation of the production sites in Vaihingen and Sternenfels. - As of the end of September 2010, restructuring expenses of EUR -2.2 million were incurred due to the relocation of the Substrate Bonder division from the USA to Germany. Without these extraordinary effects, EBIT in the first nine months of 2010 would have totaled EUR 8.2 million, corresponding to an EBIT margin of 8.5%. Earnings after taxes (EAT) amounted to EUR 3.6 million, compared with EUR 0.5 million in the corresponding period of the previous year. Basic earnings per share (EPS) therefore totaled EUR 0.19 (9M 2009: EUR 0.03). Free cash flow before the inclusion of securities and extraordinary effects from M&A activities came to EUR 3.8 million at the nine month mark, after EUR 5.6 million in the same period of the previous year. As of September 30, 2010, the SUSS MicroTec Group therefore has cash and interest-bearing securities of EUR 39.2 million (December 31, 2009: EUR 31.1 million). The net cash position grew significantly in comparison to the end of the 2009 fiscal year from EUR 18.4 million to EUR 23.5 million (9M 2009: EUR 15.3 million). Outlook Given strong order entry in the second and third quarters of 2010, we are assuming order entry of EUR 170 million for the full year 2010. For the entire year, we anticipate sales of approximately EUR 140 million and EBIT in the EUR 11-13 million range. This incorporates one-time restructuring expenses of EUR 4.5 million related to the relocation of the Substrate Bonder division from the USA to Germany. We will also be able to generate a positive free cash flow (before effects of M&A activities already carried out) in the 2010 fiscal year. End of the ad hoc announcement Kontakt: SÃSS MicroTec AG Christa Derbsch Schleissheimer Strasse 90 85748 Garching, Deutschland Tel.: +49 (0)89 32007-441 Fax: +49 (0)89 32007-451 Email: christa.derbsch@suss.com 04.11.2010 07:18 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Süss MicroTec AG Schleissheimer Strasse 90 85748 Garching b. München Deutschland Phone: +49 (0)89 32007-161 Fax: +49 (0)89 32007-336 E-mail: ir@suss.com Internet: www.suss.com ISIN: DE0007226706 WKN: 722670 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Hamburg, München, Berlin, Düsseldorf, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: Süss MicroTec AG: Q3 2010 Results Outperform Expectations
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