© mycronic Electronics Production | February 06, 2020
Strong developments for Mycronic - despite an uncertain 2019
“I am pleased today to present another successful year for Mycronic, particularly in light of the global unrest and the slowdown in the electronics industry that characterized 2019,” says Mycronic's CEO, Anders Lindqvist, in the company's year-end report.
The company recorded an order intake amounted to SEK 4,567 million (EUR 433.33 million) in 2019, up 25% compared with the previous record year of 2018. In parallel, net sales increased 14% to SEK 4,307 million (EUR 408.67 million). EBIT rose 10% to SEK 1,124 million (EUR 106.64 million), with both business areas contributing to the improvement. Leaving a successful 2019 behind the company's assessment is that consolidated net sales for 2020 will be at a level of SEK 4.1 billion (EUR 388.76 million), excluding any acquisitions made in 2020. Contrary to 2019, a majority of the mask writer deliveries will take place during the second half of the year. "For Mycronic, 2019 was also a year distinguished by launches of new products and offerings that prepare the ground for the future. Pattern Generators has expanded its customer offering of mask writers for displays with the launch of Prexision Lite 8 and with the launch of SLX we can now offer cost-efficient laser mask writers for the semiconductor industry. For both of these new products, we received orders shortly after launch, which is a confirmation that we are on the right track in terms of our customer-centric development," says CEO, Anders Lindqvist. In late January, 2020, The company announced the introduction of a new group structure aimed at enabling continued profitable growth and achieving an EBIT margin in excess of 10% in Assembly Solutions, which will be structured into three divisions: High Flex, High Volume and Global Technologies. The new structure is better aligned with the market and entails an increased customer focus with more rapid customer-centric decisions and an improved capability to adapt local operations to individual market needs. "Despite the very strong order backlog, the first half of the year will be considerably weaker than the corresponding period in 2019, since a majority of planned mask writer deliveries will take place during the second half of the year. I confirm that Mycronic’s financial goals stand firm, including the growth target to reach net sales of SEK 5 billion by 2023 at the latest," Anders Lindqvist concludes.