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2016-10-20

Mycronic AB: Mycronic AB (publ), interim report January-September 2016

Nine months of strong order intake - execution of strategy for growth
Mycronic demonstrated a strong financial performance during the first
nine months of the year. Order intake and net sales increased 44 and
9 percent respectively. The operating margin reached 22 percent.
Demand for the Group's products is favorable, thanks to product
launches which broadened the Group's addressable market. Mycronic
also has major focus on investments for future growth, both through
initiatives in product development and through acquisitions.

Third quarter July-September 2016

· Order intake was SEK 367 (559) million
· Net sales were SEK 497 (605) million
· EBIT was SEK 148 (262) million
· Earnings per share was SEK 1.17 (2.33)

Period January-September 2016

· Order intake reached SEK 1,936 (1,341) million
· Net sales reached SEK 1,303 (1,194) million
· EBIT was SEK 286 (289) million
· Earnings per share was SEK 2.25 (2.52)

Outlook
The Board's assessment remains, that net sales in 2016 will be at the
level of SEK 1,900 million, excluding effects from acquisitions.

CEO comments
The first nine months demonstrated good demand for Mycronic's
production solutions. Order intake increased 44 percent compared with
the same period 2015 and net sales increased 9 percent. We are making
significant investments in product development to maintain our
competitive edge. And we report an EBIT of SEK 286 million, or a
margin of 22 percent, for the first nine months. The order backlog
reached SEK 1,699 million.

The global market for SMT equipment experienced a negative trend in
2015, while Mycronic maintained volumes and margins. In 2016, the
slowdown has affected business area SMT, primarily during the first
half year. The trend in the third quarter was positive with an
increase in the order intake and net sales com-pared with the third
quarter 2015.

Mycronic has received orders for nine mask writers thus far in 2016.
The newly launched the Prexision-800, which ensures effective
production of the most complex photomasks for the smart 4K phones and
advanced AMOLED displays of the future. The replacement offering
provides customers with a solution to secure long-term high
productivity in photomask manufacturing.

Investments in product development within SMT equipment continue, in
line with the strategy. We have launched new products and in this way
broadened our product offering, which creates opportunities for
growth. The introduction of an updated MY600 for dispensing of
several different mounting fluids targets new segments on the SMT
market, both from geographic and product perspectives. The
introduction has been well received on the market.

To achieve long-term, sustainable growth Mycronic's strategy includes
M&As. During 2016, we acquired the German company RoyoTech, which
developed the strategic storage solutions that are an integrated part
of Mycronic's offering for the smart factory. In August, an agreement
was signed on the acquisition of Axxon, a leading actor on the
dispensing market in China. The acquisition is strategically
important as Axxon's technology and market position complement our
own position, which make us a leading global actor.

Mycronic is continuing to execute the growth strategy at a high pace,
while at the same time delivering good results.

Lena Olving, CEO and President
Contacts at Mycronic:
Lena Olving
CEO and President
+46 8 - 638 52 00
lena.olving@mycronic.com

Per Ekstedt
CFO
+46 8 - 638 52 00
per.ekstedt@mycronic.com

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. For more information, see the company
website www.mycronic.com.

Mycronic AB (publ) is listed on NASDAQ Stockholm, Mid Cap: MYCR.
This interim report is a translation of the Swedish version. In the
event of any differences between this translation and the Swedish
original version, the Swedish version shall have precedence.

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http://news.cision.com/mycronic-ab/r/mycronic-ab--publ--interim-report-j...
http://mb.cision.com/Main/10432/2104587/577364.pdf

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