© Mycronic Electronics Production | July 17, 2020
Mycronic weathers the pandemic storms
“I am proud of how our employees are handling the pandemic and particularly how we have adapted to maintain support to our customers in the best possible way,” says President and CEO Anders Lindqvist.
Order intake during the second quarter amounted to SEK 651 million (EUR 62.95 million), a decline of 28% from SEK 901 million (EUR 87.12 million) during the same period last year. Net sales amounted to SEK 1,086 million (EUR 105.01 million), a decrease of 3% from SEK 1,120 million (EUR 108.3) million from last year. The company says that the net sales includes the delivery of a Prexision 10, which was brought forward on the initiative of the customer and was completed in the second quarter instead of the fourth quarter of the year as previously planned. EBIT was SEK 281 million (EUR 27.17 million), a decline of 12% from SEK 317 million (EUR 30.65 million). The EBIT margin was 26% (28%) “Our operations are well distributed over different segments and geographies, which is why the impact on the Group differs substantially between its various parts. Despite the challenges and increased uncertainty created by COVID-19, I feel secure on the basis of Mycronic’s long-standing customer relationships, well-filled order book and stable financial position,” says Anders Lindqvist, President and CEO, in the second quarter report. The uncertainty in the global economy has further intensified over the last months which increases the difficulties in assessing the 2020 outlook, the company states. However, despite this, the company still believes that, as previously communicated, the consolidated net sales for 2020 will be at a level of SEK 4.1 billion (EUR 396.33 million), excluding any acquisitions.