SÜSS MicroTec (SMHN) investor relations material

Executive summary

• Achieved record H1 2025 sales of €266.4M, up 38.2% year-over-year, surpassing half of the full-year sales target.

• Order intake declined 13.2% year-over-year to €166.8M, mainly due to market uncertainty, saturation in AI-related sectors, and lower demand from China.

• Gross profit margin fell to 37.2% (down 2.6pp year-over-year), impacted by ramp-up costs, one-off inventory write-offs, and start-up costs in Taiwan.

• EBIT margin stood at 15.7%, in line with expectations and slightly up year-over-year, despite margin pressures.

• Net income dropped to €27.2M, reflecting the absence of prior-year gains from discontinued operations.

Financial highlights

• Sales for H1 2025 were €266.4M (+38.2% year-over-year), the highest first half in company history.

• Gross profit was €99.0M (+28.9% year-over-year); gross margin at 37.2% (down from 39.8%).

• EBIT rose to €41.9M (+39.2% year-over-year); EBIT margin at 15.7%.

• Free cash flow was negative at -€27.6M, mainly due to fewer advance payments and higher CapEx.

• Equity ratio at 55.8%, with cash and cash equivalents at €99.1M.

Outlook and guidance

• Full-year 2025 sales guidance maintained at €470M–€510M; H1 sales already represent over 50% of the midpoint.

• Gross margin guidance revised to 37–39% (from 39–41%); EBIT margin target now 13–15% (from 15–17%).

• H2 2025 sales and profitability expected to be lower than H1, especially in Advanced Backend Solutions.

• Cost-saving measures underway, including pausing headcount additions and focusing on operational efficiency.

• Expects a slight upturn in order intake in H2, but risks remain elevated due to global economic and trade uncertainties.