First quarter
- Order intake amounted to
SEK 1,441 (1,027) million, an increase of 40 percent - Net sales declined 12 percent to
SEK 1,135 (1,291) million. Based on constant exchange rates, net sales decreased 19 percent - EBIT amounted to
SEK 206 (498) million and EBIT margin was 18 (39) percent - Earnings per share were
SEK 1.69 (3.99)
"We had a strong start to the year, with an increase in order intake of 40 percent, where all divisions contributed to the development. Net sales decreased 12 percent during the quarter, which was attributable to lower net sales in Pattern Generators. We previously stated that this changed sales mix in the Group, with a decline in Pattern Generators' share of total net sales, will characterize the year. During the first quarter, this meant that EBIT declined to
Outlook 2022
It remains the Board of Directors' opinion that consolidated net sales for 2022 will be at a level of
CEO comments
We had a strong start to the year, with an increase in order intake of 40 percent, where all divisions contributed to the development. Net sales decreased 12 percent during the quarter, which was attributable to lower net sales in Pattern Generators. We previously stated that this changed sales mix in the Group, with a decline in Pattern Generators' share of total net sales, will characterize the year. During the first quarter, this meant that EBIT declined to
A continued healthy level of activity was noted for the photomask market for semiconductors. Since the launch in 2019, Pattern Generators has delivered ten SLX systems, which have been well received by customers. The SLX comes with an energy efficient solid state laser which significantly lowers the environmental impact compared with the majority of the installed base. There were also signs of a positive development in the photomask market for displays. During the quarter, Pattern Generators received orders for three SLX semiconductor mask writers and one Prexision Lite 8 Evo display mask writer. At the same time, the division delivered two SLXs during the quarter, compared with one Prexision 800 Evo, one Prexision Lite 8 Evo, and one SLX during the corresponding period of the preceding year.
During the first quarter of the year, the market for High Flex remained strong and the division's customers have well-filled order books. Positive market momentum within jet printing and pick-and-place solutions contributed to a good order intake during the quarter.
The electronics industry in
Regarding Global Technologies, the market for tele and data communications in die bonding continued its strong performance, mainly driven by investments in data centers. At the same time, the aerospace and defense industry showed signs of good growth going forward. The market for electrical testing demonstrated continued strength, driven by a robust demand for PCBs and substrates and with a strong recovery in
Despite a continued shortage of production personnel, component supplies related to the pandemic, and challenges regarding distribution logistics, we mostly succeeded in delivering production equipment to our customers according to plan during the quarter.
We have a strong position for continued sustainable and profitable growth and a clear growth strategy characterized by a combination of organic and acquisition-driven growth. We are seeking actively within attractive areas to complement and broaden our offering through carefully selected acquisitions.
For 2022, it remains my assessment and that of the Board of Directors that
I look forward to the rest of the year with confidence.
FINANCIAL INFORMATION
Financial reports and press releases are published in Swedish and English and are available on www.mycronic.com.
This report was not reviewed by the company's auditor.
CONFERENCE CALL
https://mycronic-external.creo.se/220421
FOR ADDITIONAL INFORMATION, PLEASE CONTACT
President and CEO
+46 8 638 52 00
anders.lindqvist@mycronic.com
Pierre Brorsson
CFO & Sr VP Corporate Development
+46 8 638 52 00
pierre.brorsson@mycronic.com
Director Investor Relations
+46 70 558 39 19
sven.chetkovich@mycronic.com
https://news.cision.com/mycronic-ab/r/interim-report-january-march-2022,c3549527
https://mb.cision.com/Main/10432/3549527/1566493.pdf
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