Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Interim Report January-September 2020


News provided by

Mycronic AB

22 Oct, 2020, 06:31 GMT

Share this article

Share toX

Share this article

Share toX

STOCKHOLM, Oct. 22, 2020 /PRNewswire/ --

Third quarter

  • Order intake amounted to SEK 739 (1,238) million, a decline of 40 percent
  • Net sales increased 19 percent to SEK 1,068 (900) million and 25 percent based on constant exchange rates
  • EBIT rose 76 percent to SEK 348 (198) million and EBIT margin was 33 (22) percent 
  • The underlying EBIT was SEK 400 (202) million, an increase of 98 percent. The underlying EBIT margin was 37 (22) percent
  • Earnings per share were SEK 2.71 (1.52)

January-September

  • Order intake was SEK 2,822 (2,861) million, a decrease of 1 percent
  • Net sales declined 8 percent to SEK 2,889 (3,125) million and 6 percent based on constant exchange rates
  • EBIT was SEK 684 (920) million, a decline of 26 percent. The EBIT margin was 24 (29) percent
  • The underlying EBIT was SEK 755 (955) million, a decline of 21 percent. The underlying EBIT margin was 26 (31) percent
  • Earnings per share were SEK 5.29 (7.22)             

"While we are devoting much energy to addressing the uncertainty in our macro environment, I can feel a fundamental sense of security in the long-term development of the business and in how the organization has handled the pandemic. Our operations are well-diversified across various segments and geographies and offer us a good resilience and risk spread. We have a well-filled order book and we delivered net sales growth of 19 percent for the quarter, increased EBIT by 76 percent and reported a margin of 33 percent," says Anders Lindqvist, President and CEO.

Outlook 2020

It is the Board of Director's opinion that consolidated net sales for 2020 will be at a level of SEK 3.9 billion, excluding any acquisitions. The adjustment from the previously communicated SEK 4.1 billion is mainly due to currency effects but also to the pandemic's impact on operations. 

CEO comments

While we are devoting much energy to addressing the uncertainty in our macro environment, I can feel a fundamental sense of security in the long-term development of the business and in how the organization has handled the pandemic. We delivered net sales growth of 19 percent for the quarter, increased EBIT by 76 percent and reported a margin of 33 percent. It is clear that our well-filled order book and stable financial position in combination with the adjustments we have made to continue to support our customers in the best possible manner have helped to bridge this period marked by greater uncertainty than we are used to handle. Our operations are well diversified across various segments and geographies and offer us a good resilience and risk spread. This is also reflected in the varying performance for the divisions during the quarter.

The robust performance of the High Volume division was further cemented during the quarter. The division's leading position in dispensing in China and the favorable market in the country contributed to the strong growth. High Flex, which primarily operates in the European and North American markets, noted a slight increase in activity during the quarter. Even if the increase is from low levels, it is pleasing to note that we, for example, secured a few major orders where we support customer businesses with fully automated complete assembly lines including software tools and process monitoring. For the Global Technologies division, optoelectronics has continued to develop favorably, driven by the strong Chinese market while the camera modules to the automotive industry segment was characterized by low levels of activity. Net sales for the Assembly Solutions business area as a whole decreased 4 percent year on year, mainly attributable to lengthier or temporarily postponed investment decisions.

Pattern Generators again reported a strong quarter with a stable aftermarket combined with the delivery of an FPS 6100 Evo and our most advanced system, Prexision 800 Evo.

This is the third Prexision 800 to be delivered and the system is primarily used to write the most advanced photomasks used to manufacture AMOLED displays. Net sales for the division rose 60 percent and EBIT by 132 percent, with a margin of 70 percent. Order books are well-filled and all planned deliveries are unchanged while the long-term outlook is deemed to be unchanged. The rate of development of new display technology is high although we can also see, depending on how long the uncertainty surrounding the pandemic continues, that over time this may lead to longer investment processes. The business area, which experiences natural variations between quarters, has a stable aftermarket but received no system orders during the quarter. Taken together, this contributed to a reduction in order intake for the Group as a whole by 40 percent during the quarter and 1 percent during the first nine months of the year.

Our efficiency improvements in High Flex and Global Technologies are continuing according to plan and the EBIT margin target of at least 10 percent in 2021 for Assembly Solutions as a whole stands firm. It is mainly due to currency effects, but also to the pandemic's impact on operations, that the Board adjusts the 2020 outlook for Group net sales to the level of SEK 3.9 billion. The long-term goal of net sales of SEK 5 billion not later than 2023 stands firm.

We are in a period of uncertainty where we continually assess and plan for various business scenarios depending on the future progress of the pandemic. I am proud of how our employees are managing the new circumstances on a daily basis and helping our customers to deal with problems in the wake of the pandemic. At the same time, I would like to point out that we have a long-term focus to continue investing in the next generation of innovations with the aim of always offering our customers the most efficient and smartest solutions.

Anders Lindqvist, President and CEO

Financial information

Mycronic AB (publ) is listed on NASDAQ Stockholm, Large Cap. The information in this report is published in accordance with the EU Market Abuse Regulation and the Swedish Securities Act. The information was submitted for publication, through the contact persons stated below (page 8) on October 22, 2020, at 8:00 a.m.

Financial reports and press releases are published in Swedish and English and are available on www.mycronic.com.

This report was reviewed by the company's auditor.

For additional information, please contact

Anders Lindqvist

President and CEO

+46 8 638 52 00

anders.lindqvist@mycronic.com

Torbjörn Wingårdh

CFO

+46 8 638 52 00

 torbjorn.wingardh@mycronic.com

Tobias Bülow

 Director Investor Relations

+46 734 018 216

 tobias.bulow@mycronic.com 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/mycronic-ab/r/interim-report-january-september-2020,c3220426

The following files are available for download:

https://mb.cision.com/Main/10432/3220426/1322203.pdf

The full report (PDF)

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.