Mycronic Reports Q4 and Full Year 2015

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Fourth quarter October-December 2015

• Order intake was SEK 838 (618) million
• Net sales were SEK 621 (656) million
• EBIT was SEK 251 (231) million
• Earnings per share were SEK 1.99 (2.37)

Full year January-December 2015

• Order intake was SEK 2,179 (2,028) million
• Net sales were SEK 1,815 (1,475) million
• EBIT was SEK 540 (277) million
• Earnings per share were SEK 4.52 (2.72)

Dividend

The Board proposes an ordinary dividend of SEK 1.50 (0.80) per share and an extraordinary dividend of SEK 2.50 (3.20) per share. The total dividends of SEK 4 (4) per share amount to SEK 391.7 (391.7) million.

Outlook

The Board’s assessment is that sales in 2016 will be at the level SEK 1,900 million. 

2015 - stable performance

“Strong fourth quarter is the culmination of a year of stable growth, a year to be proud of. Never have system or aftermarket sales been higher. Growth was 23 percent. The results demonstrate that the product development strategy is correct. This is especially gratifying during a year when the global market for SMT equipment has experienced a decline. The operating margin reached 40 percent in the fourth quarter and 30 percent for the whole year. And we moved into 2016 with an order backlog exceeding SEK 1 billion. At the same time, through investments in product development, we have taken steps to reach our established goals for growth and profitability in the coming years," says Lena Olving, CEO and President of Mycronic AB.

Mycronic’s launches of innovative production solutions for effective electronics production have led to an increase in demand within both of Mycronic’s business areas, which has strengthened the company's market and financial positions. During the fourth quarter, the latest new equipment for dispensing several types of fluids was introduced. Mycronic’s Jet Dispenser, which builds on the jet printing platform, is significantly faster than existing dispensing solutions and targets new segments on the SMT market. By broadening the product offering to other segments, opportunities are created for a position shift, which is in line with the company's strategy for growth.

During 2015, Mycronic received orders for a total of nine mask writers for different applications. Demand for the most high resolution mobile displays is on the rise, which increases photomask complexity. Mycronic’s most advanced mask writer, the Prexision-80 (P-80), is indispensable for this manufacturing. During 2015, the company delivered a P-80 and received an order for an additional system.

The company’s replacement offering for customers with older mask writers for display manufacturing was also positively received, with three orders in 2015.

"Besides maintaining and developing our existing offering, we have started an initiative to make the technology leap necessary to develop products for new and future needs within SMT. By collaborating with a high tech engineering company in Asia, we complement our unique competence with specific technological and market competence for new customer requirements," says Lena Olving.

About Mycronic

Mycronic AB is a high-tech Swedish company engaged in developing, manufacturing and marketing of production solutions to the electronics industry. Mycronic headquarters are located in Täby, north of Stockholm and the Group has subsidiaries in China, France, Germany, Japan, Singapore, South Korea, Taiwan, the Netherlands, United Kingdom and the US.