© Roodmicrotec Business | October 16, 2020
COVID-19 is still impacting the business of RoodMicrotec
The independent semiconductor supplier recorded a total income of EUR 3.0 million during the third quarter of 2020, a slight decrease from EUR 3.1 million during the same period last year.
COVID-19 is still impacting the business of RoodMicrotec, the company says in a press release, but the short-term demand from its customers is back to the level of last year. The leading indicator, the book-to-bill ratio, was above one for the third quarter after a drop in the second quarter. For the first 9 months of 2020, the total book-to-bill ratio is above one. “We are continuing our tight control of operational expenses and are pleased to see that the cash position at the end of the third quarter is maintained at a good level”, says Martin Sallenhag, CEO of RoodMicrotec, in the press release. “These measures along with the level of total income have generated a quarter with break-even net result which is very encouraging.” RoodMicrotec says it is maintaining a very tight control of the personnel expenses through short-time work when appropriate and possible, as well as a temporary salary waiver of the management. All operational expenses are reviewed in detail and only absolutely necessary costs for delivering our high-quality services to the customers are approved. The company says there is still sufficient capacity within the operational departments, so no additional capital investments are necessary. The company also states that at this stage, as it is still not possible to forecast either the duration of the COVID-19 disruption or the impact of the currently increasing number of new COVID-19 infections in Europe. If there are no further lock-downs, RoodMicrotec expects to generate a total income in the range of EUR 3.2 million to EUR 3.6 million in the fourth quarter of 2020, thus offsetting the temporary drop in total income compared to 2019. The second-half of the year is then expected to generate a positive net result.
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