Mycronic Reports Strong Order Growth of 67% in Q3 2025

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Mycronic AB has announced its interim results for January–September 2025, reporting robust order intake growth and continued strength across several divisions despite a temporary dip in quarterly net sales and EBIT margins.

Third quarter

• Order intake amounted to SEK 2,431 (1,459) million, an increase of 67 percent
• Net sales declined 4 percent to SEK 1,709 (1,780) million. Based on constant exchange rates, net sales increased
  3 percent
• EBIT amounted to SEK 255 (547) million and the EBIT margin was 15 (31) percent
• Earnings per share were SEK 1.11 (2.30) before and after dilution

January-September

• Order intake amounted to SEK 5,819 (5,229) million, an increase of 11 percent
• Net sales increased 18 percent to SEK 5,917 (4,999) million. Based on constant exchange rates, net sales increased
  24 percent
• EBIT amounted to SEK 1,598 (1,494) million and the EBIT margin was 27 (30) percent
• Earnings per share were SEK 6.57 (6.27) before and after dilution

Outlook 2025
The Board of Directors’ opinion remains that net sales for 2025 will be at a level of SEK 7.5 billion.

CEO comments
Order intake was strong and broad-based in the third quarter, with growth of 67 percent, to a healthy SEK 2,431 million. It was driven by the Pattern Generators and Global Technologies divisions, with High Volume and PCB Assembly Solutions also showing growth . Net sales declined 4 percent, despite High Volume and Global Technologies posting strong growth, mainly explained by lower net sales in Pattern Generators. Both High Volume and Global Technologies improved EBIT and EBIT margins in the quarter. Despite this, EBIT declined to SEK 255 million, corresponding to an EBIT margin of 15 percent, explained by a lower gross margin in Pattern Generators and a less favorable division mix, with Pattern Generators representing a lower share of Group net sales.

In Pattern Generators, photomask markets were stable for both displays and semiconductors. On July 1, Pattern Generators signed an agreement to acquire Cowin DST, a company based in South Korea primarily providing systems for display panel repair, as well as display and semiconductor photomask repair. The acquisition is pending regulatory approval in South Korea, which is expected to happen during the fourth quarter. The division received orders for one Prexision 8 Evo, two Prexision Lite 8 Evos and two SLXs. Pattern Generators’ lower gross margin during the quarter was explained by a less favorable product mix.

For PCB Assembly Solutions, the US market improved during the third quarter, whereas the European market remained weak. The division received several large full-line orders in both Europe, the US and Asia. PCB Assembly Solutions successfully relocated production from the current premises in Täby to new premises in Kista, Stockholm during the quarter. This frees up production capacity for Pattern Generators and enables continued growth and improved production flows for both Pattern Generators and PCB Assembly Solutions.

High Volume’s demand from the Chinese consumer electronics industry weakened somewhat, as customers had front-loaded their investments to the first half of the year. Markets outside China, such as South Korea and Southeast Asia, showed a positive development.

For Global Technologies, the market for the PCB Test business line continued to be very strong, driven by investments related to the testing of PCBs used in servers for AI applications, and investments in Southeast Asia. The Die Bonding business line noted good demand in the AI data center market and strength in aerospace & defense spending in the US. The business lines Applied Plasma, Magnetic Test and Photonic Interconnects also noted good development in the quarter.

Anders Lindqvist, President and CEO