Interim report January-September 2014

Third quarter July-September 2014

• Order intake was SEK 842 (232) million
• Net sales were SEK 338 (220) million
• EBIT was SEK 37 (9) million
• Earnings per share was SEK 0.31 (0.00)

Interim period January-September 2014

• Order intake was SEK 1,410 (679) million
• Net sales were SEK 819 (672) million
• EBIT was SEK 45 (-10) million
• Earnings per share was SEK 0.34 (-0.21)

Outlook
The assessment for sales in 2014 remains unchanged from the previous quarter. The company´s assessment is that sales in 2014 will be in the span of SEK 1,150 – 1,250 million.

Stronger order intake in several areas
The order intake is demonstrating growth, but this is also an indicator of the fluctuations that occur, especially within the PG market. During the first nine months, the Group received orders for seven mask writers. The trend towards increasingly advanced electronics products drives demand for complex photomasks for use in the manufacture of displays for these products. At the same time the customers’ utilization of existing equipment has been high. Together, the two factors have led to customers starting to invest in new equipment. However, investment in mask writers has not been solely in advanced equipment for manufacturing of displays, but also for other segments.  

“We are happy to have succeeded in matching our offering within business area PG with various needs within several different market segments. This has resulted in a number of orders during the third quarter”, says Lena Olving, CEO and President of Mycronic AB. 

The market for SMT equipment has also remained favorable. During the third quarter, Mycronic saw an increase in both the order intake and sales, as has been the case during the entire interim period. The consolidated EBIT remains positive for the fifth consecutive quarter. Cash flow, excluding an extra dividend of 245 MSEK, which was paid out in August, reached SEK 167 million during the third quarter.

By delivering new products in tandem with customers’ changing requirements, and by simultaneously maintaining cost levels, Mycronic has created good conditions for long term profitability. “We are continuing to strengthen our brand, which positions us as an important supplier of effective production solutions. We are pleased to report a good third quarter, but it is also important to point out that while these types of investments can occur at the same time, this is not a typical quarter”, says Lena Olving.

About Mycronic

Mycronic AB is a high-tech Swedish company engaged in the development, manufacturing and marketing of production equipment to the electronics industry. Mycronic headquarters is located in Täby, north of Stockholm and the Group has subsidiaries in China, France, Germany, Japan, Singapore, South Korea, Taiwan, the Netherlands, United Kingdom and the US. For more information, see our web site at www.mycronic.com.

Mycronic AB (publ) is listed on NASDAQ Stockholm, Small Cap: MYCR.

This interim report is a translation of the Swedish version. In the event of any differences between this translation and the Swedish original version, the Swedish version shall have precedence.