Mycronic Releases Interim Report January–March 2024
April 18, 2024 | MycronicEstimated reading time: 2 minutes
Mycronic announced interim report for January–March 2024.
First quarter
- Order intake amounted to SEK 1,645 (1,617) million, an increase of 2 percent
- Net sales increased 39 percent to SEK 1,692 (1,219) million. Based on constant exchange rates, net sales increased 42 percent
- EBIT amounted to SEK 599 (182) million and the EBIT margin was 35 (15) percent
- Earnings per share were SEK 5.01 (1.52) before dilution and SEK 5.00 (1.52) after dilution
Outlook 2024
- The Board of Directors’ opinion remains that consolidated net sales for 2024 will be at a level of SEK 6.25 billion.
Anders Lindqvist, President and CEO, comments:
We started the year strongly. The order intake for the first quarter was at the same favorable level as last year, while net sales increased 39 percent, driven mainly by Pattern Generators. EBIT amounted to SEK 599 million – our second-strongest quarterly results ever – corresponding to an EBIT margin of 35 percent.
In 2024, we celebrate “more than 50 years of innovation” at Mycronic. It is therefore particularly gratifying that we are starting this anniversary year with the launch of two new products in Pattern Generators: Prexision 8000 Evo, which is the division’s most advanced mask writer for displays to date, and MMX, our first metrology system for semiconductor photomasks. Both of these exciting new additions to Pattern Generators’ customer offering were launched externally at an industry conference in Japan in April.
In Pattern Generators, the photomask market for displays was stable in the first quarter of the year after having slowed slightly in the fourth quarter of 2023, while the photomask market for semiconductors remained at a high level. Pattern Generators received orders for five mask writers during the quarter: one Prexision 8 Evo and four SLXs.
In High Flex, demand in Europe and the US slowed slightly in the first quarter of the year, while China showed indications of recovery. High Flex received positive feedback from customers for its stencil printer, which combines well with MYPro A40, the new pick-and-place machine that was launched in the fourth quarter of 2023 and is up to 50 percent faster than its predecessor.
During the quarter, High Volume noted a recovery in demand in both China and the foreign markets in which it operates. This recovery was seen for customers in both consumer electronics and the electric vehicle industry. As a result of the preparations ahead of a possible listing of Axxon on a stock exchange in China, Ivan Li left Mycronic’s executive management during the quarter, but remains as Head of Axxon, the core of Mycronic’s High Volume division.
In Global Technologies’ PCB test business line, demand for test equipment was strong, driven by increased demand for printed circuit boards used in advanced servers for training AI models. Strong AI driven demand in the data communications market continued from last quarter and supported the die bonding business. The die bonding business line launched a product for active alignment of optical components during the quarter that will address additional steps in our customers’ production process.
At the end of the quarter, Global Technologies signed an agreement to acquire Vanguard Automation, a small company headquartered in Karlsruhe, Germany, which has developed a technology and automated equipment for 3D microfabrication of optical interconnects. The acquisition was finalized at the beginning of April and it is gratifying to be able to add this exciting technology to our customer offering.
Suggested Items
Cicor Reports Double-Digit Growth Driven by Integration & M&A
04/15/2025 | CicorThe Cicor Group has made a successful start to the 2025 business year. In the first quarter, sales increased by 22.2 % to CHF 131.1 million (Q1/2024: CHF 107.3 million), while order intake increased by 29.1 % year-on-year to CHF 125.8 million.
Electronic System Design Industry Posts $4.9 Billion in Revenue in Q4 2024
04/15/2025 | SEMIElectronic System Design (ESD) industry revenue increased 11% to $4,927.3 million in the fourth quarter of 2024 from the $4440.9 million reported in the fourth quarter of 2023, the ESD Alliance, a SEMI Technology Community, announced in its latest Electronic Design Market Data (EDMD) report.
Gartner: Worldwide PC Shipments Increased 4.8% in Q1 of 2025
04/14/2025 | Gartner, Inc.Worldwide PC shipments totaled 59 million units in the first quarter of 2025, a 4.8% increase from the first quarter of 2024, according to preliminary results by Gartner, Inc. U.S. PC shipments grew 12.6%, reaching 16 million units in the first quarter of 2025.
FTG Announces Q1 2025 Financial Results
04/10/2025 | Firan Technology Group CorporationIn Q1 2025, the Corporation grew through acquisition and organically. FTG is strategically investing its capital in ways that will drive increased shareholder returns for the future in both the near term and long term. The company's achievements in Q1 2025 demonstrate this commitment, laying a strong foundation for future growth.
The PC Market Enters Volatile 2025 on Strong Results
04/09/2025 | IDCPC shipments during the first quarter of 2025 grew 4.9% from the prior year, with global volumes reaching 63.2 million shipments, according to preliminary results from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker. Looking ahead to 2025, the PC industry has several tailwinds and headwinds, which make for a challenging outlook and difficult demand planning.