Interim report October-December and Full Year 2012

Fourth quarter October-December, 2012

• Order intake was SEK 229 (277) million
• Net sales were SEK 481 (369) million
• EBIT was SEK 119 (-14) million and adjusted for one-time costs of SEK 8 million it was SEK 127 (-14) million
• Earnings per share were SEK 1.28 (-0.19)
  
  Full year, 2012
• Order intake was SEK 1,280 (1,214) million
• Net sales were SEK 1,354 (1,198) million
• EBIT was SEK -21 (-66) million, and adjusted for one-time costs of SEK 128 million it was SEK 107 (-66) million
• Earnings per share were SEK -0.45 (-0.91)

Outlook
The company’s assessment is that sales in 2013 will reach approximately the same level as 2012.

Events after year end
Micronic Mydata received order for an LDI 5s with expected shipment in Q 1, 2014.

CEO comments on 2012
Micronic Mydata acts in the electronics industry, with a long-term growth of five percent each year. New products with even higher requirements are being launched at an increasingly fast pace. Our technology enables this trend in many ways.

The SMT business area continued to develop well. Even in a somewhat weaker global market for surface mount equipment, we were still successful with both the MY100e series and the MY500 jet printer and we gained market shares.

Sales of high-resolution LCD screens reached record volumes. Higher image quality requires more advanced photomasks, which drives demand for mask writers.

During the fourth quarter we delivered a Prexision-8  mask writer for advanced display applications.

The large base of installed systems around the world provides us with good opportunities for developing our aftermarket business. This includes service contracts, sales of accessories and peripherals, and it gives us a good base in terms of profitability and growth. In 2012 aftermarket sales grew by 12 percent. We launched the LRS15-N mask writer, which can replace older LRS systems for manufacturing more mature photomasks. This can be an option for customers who want to upgrade existing tools.

At the same time, we live in a volatile world, and like everyone else, we are affected by the overall economy. The market for advanced substrates is being postponed, and growth from rapidly growing LDI sales is being delayed. One LDI system was invoiced during the year. This is an affirmation of the system's performance. But wider implementation is still pending. We have adjusted the business and organization to remain financially strong despite this delay. We have taken non-recurring costs of 128 MSEK, including write-downs among others, and we reduce costs by SEK 60 million on an annual basis.

The group EBIT, adjusted for these actions, reached 8 percent. SMT reached an EBIT margin of 14 percent and the underlying PG business, excluding LDI, 34 percent. Good profitability in existing product areas, and cash that strengthened to 581 MSEK leaves Micronic Mydata in a good financial position. In view of this the Board has assigned to me during the year to review the long-term financial targets and the capital structure.

 Lars Josefsson, President and CEO
 

Contacts at Micronic Mydata:
Lars Josefsson
President and CEO
+46 8 - 638 52 00
lars.josefsson@micronic-mydata.com

Per Ekstedt
CFO
+46 8 - 638 52 00
per.ekstedt@micronic-mydata.com
 

 Micronic Mydata AB is a Swedish high-tech company engaged in the development, manufacture and marketing of production equipment to the electronics industry. The products consist of pattern generators including mask writers and direct writers for the production of photomasks and substrates as well as advanced surface mount technology (SMT) equipment. The pattern generators are used by the world’s leading electronics companies in the manufacture of semiconductor circuits, for advanced electronic packaging and displays used in PC tablets, smart phones, TVs and computers. The SMT equipment is used for surface mounting of electronic components and stencil free jetting of solder paste. The SMT equipment is used, among others, by large and small manufacturers of electronics in aerospace, aviation and telecom. Micronic Mydata 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 United States. For more information see our web site at:
www.micronic-mydata.com