2014 – a strong year for Mycronic

Order intake for 2014 amounted to EUR 214.7 million, almost doubled from 2013s EUR 111.5 million. EBIT was EUR 29.3 million in 2014, compared to EUR 3.3 million in 2013. “We are proud of this past year, where the Group’s order intake and sales increased 93 and 48 percent respectively. Mycronic reported a positive EBIT and strong margins for six consecutive quarters. For the full year 2014, the EBIT margin was 19 percent. The fourth quarter contributed greatly to this result. We have also entered 2015 with a record high order backlog of SEK 702 million, where the lion’s share will be delivered during the current year,” says Lena Olving, CEO and president of Mycronic AB. The positive trend within the electronics industry generally, and within those parts of the industry where Mycronic operates, are contributing factors behind the year's growth. Mycronic operates within a growth industry which has been beneficial. However, the year's results are also proof that the product development plan is on the right track. “Mycronic has a strong position today with an entirely new product program launched during the last 15 months. Together with the favourable market trend for SMT equipment, the result has been a 27 percent increase in order intake within business area SMT. At the same time, we developed, completed and delivered the first P-80 mask writer faster than expected,” continues Lena Olving. During 2014, Mycronic received a total of eight orders for mask writers. The order intake shows significant growth, but also points to the irregularity that exists within the pattern generators market. The investments in mask writers were not solely in advanced equipment for display manufacturing, but also for equipment within four other segments. Investment requirements within the various segments vary and it is more of a coincidence that these occurred more or less simultaneously in 2014. “We have established a product development plan that supports long-term sustainable growth for the company, with profitability in focus, and that's what we're currently executing. We are delivering new, competitive products that are in sync with customers' changing needs. That’s why it is gratifying to report such strong results for full year 2014. Additionally, cash flow is strong and that puts us in a continued good financial position, thereby allowing for further growth,” concludes Lena Olving.