© suss microtec Electronics Production | November 11, 2019
SUSS MicroTec adjusts outlook for fiscal year 2019
Based on the preliminary figures for the first nine months and the updated budget figures, SUSS MicroTec is substantiating its expectations for incoming orders, sales and earnings for the current fiscal year ending December 31, 2019.
At EUR 66.0 million, incoming orders in the third quarter of 2019 were up more than 40% on the same period of the previous year (Q3/2018: EUR 47.0 million). The company therefore assumes that the previously published forecast of more than EUR 95 million in incoming orders in the second half of 2019 will be far exceeded. As of September 30, 2019, the order backlog amounted to EUR 115.3 million, 28.1% higher than the EUR 90.0 million on the previous year's reporting date. In the third quarter of 2019, SUSS MicroTec generated sales of EUR 37.1 million (previous year: EUR 38.6 million). EUR 131.1 million was reported for the first nine months of the current 2019 financial year, compared with EUR 132.8 million in the previous year. Based on the orders on hand and the current inventory of machines ready for shipment, sales in fiscal 2019 are expected to be at the upper end of the already announced range of EUR 200 to 215 million. In the 2018 financial year, sales amounted to EUR 203.9 million. The EBIT margin for fiscal 2019 will be below the previously communicated range of 6.5% to 8.0% due to productivity losses caused by underutilisation and capacity shifts between product groups. Contrary to expectations at the end of the first half of the year, the third quarter was unable to deliver any positive EBIT contributions. Pre-produced orders were not delivered until the end of the third quarter due to late incoming orders and will therefore be reflected in sales within the fourth quarter. Management currently expects the EBIT margin for 2019 as a whole to be between 4.0% and 5.0%. In the previous year, EBIT amounted to EUR 10.9 million, corresponding to an EBIT margin of 5.3 %.