Mycronic Raises 2026 Sales Outlook After Strong Q2 Results

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Mycronic reported strong financial results for the second quarter and first half of 2026, driven by robust order intake and sales growth, while raising its full-year net sales outlook to SEK 9.25 billion.

Interim Report January-June 2026

Second quarter

• Order intake amounted to SEK 2,917 (1,330) million, an increase of 119 percent
• Net sales increased 17 percent to SEK 2,416 (2,066) million. Based on constant exchange rates, net sales increased 18 percent
• EBIT amounted to SEK 698 (568) million and the EBIT margin was 29 (27) percent
• Earnings per share were SEK 2.70 (2.28) before and after dilution

January-June

• Order intake amounted to SEK 5,446 (3,388) million, an increase of 61 percent
• Net sales increased 17 percent to SEK 4,919 (4,208) million. Based on constant exchange rates, net sales increased 25 percent
• EBIT amounted to SEK 1,636 (1,344) million and the EBIT margin was 33 (32) percent
• Earnings per share were SEK 6.36 (5.46) before dilution and SEK 6.35 (5.46) after dilution

Outlook 2026

The Board of Directors adjusts its opinion regarding net sales for 2026, from being at a level of SEK 8.75 billion to being at a level of SEK 9.25 billion.

CEO comments

We followed up on the strong start to 2026 with an excellent second quarter. Order intake reached a new record level of SEK 2,917 million, an increase of 119 percent. All divisions posted increases, but the development was in particular driven by a stellar contribution from Global Technologies, strong development in High Volume and with Pattern Generators growing handsomely relative to a weak comparable quarter last year. Net sales increased 17 percent, equivalent to a second-best ever SEK 2,416 million, driven primarily by Global Technologies. EBIT increased to SEK 698 million, corresponding to an EBIT margin of 29 percent.

In Pattern Generators, photomask markets for both displays and semiconductors were stable during the second quarter of the year. The Prexision 8000 Evo, which was delivered during the previous quarter, was taken into production at Photronics’ facility in Korea. The division received orders for four SLXs during the quarter, one of which is a customized SLX with a higher price level (USD 27-30 million). This customized SLX is a one-off event and should not be viewed as recurring business.

PCB Assembly Solutions received orders from the defense industry in both the US and Europe, the division’s two largest orders ever. Defense orders tend to be for full production lines, instead of individual machines, and thus larger in size. However, the standard industrial business continues to be weak, particularly in Europe. PCB Assembly Solutions has initiated a restructuring program aimed at bringing the division’s EBIT margin back above 10 percent, at the latest by the end of 2027. The total restructuring cost until the end of 2027 is currently estimated at SEK 100 million, of which SEK 43 million has already been taken.

High Volume saw strong demand from the Chinese consumer electronics industry and markets outside China. The division capitalized on new opportunities related to AI infrastructure, such as dispensing solutions to dissipate heat in servers and dispensing and final assembly of optical modules.

In Global Technologies, the market for PCB Test remained strong, with continued healthy demand from producers of advanced server boards used in data centers. High demand from the AI infrastructure build-out is driving high capex by PCB manufacturers, both those already present in AI segments and those with ambitions to enter. Investments as part of a “China+N” strategy also continued, whereby companies maintain operations in China while expanding into Southeast Asia. The optical communications segment in the Die Bonding business line continued to see strong demand for die bonders. In the US, Die Bonding also saw increased demand from aerospace and defense customers.