Mycronic (MYCR) Q1 2025 earnings summary

Executive summary

• Order intake rose 25% year-over-year to SEK 2,058 million, with record net sales up 27% to SEK 2,142 million, mainly driven by Pattern Generators and High Volume.

• EBIT reached an all-time high of SEK 775 million, with a margin of 36%.

• Two acquisitions were completed: Hprobe (MRAM testing) and Robat (PCB signal quality testing), both integrated into Global Technologies.

• Order backlog increased to SEK 4,617 million.

• Aftermarket revenues hit a record SEK 531 million, mainly in Pattern Generators.

Financial highlights

• Net sales increased 27% year-over-year to SEK 2,142 million; aftermarket revenue hit a record SEK 531 million.

• EBIT margin for the quarter was 36%; rolling 12-month EBIT margin at 29%.

• Gross margin improved to 61.1% from 57.6% year-over-year; Pattern Generators 76%, Global Technologies 46%, High Volume 43%, High Flex 37%.

• Cash flow from operations before working capital changes was SEK 686 million; after changes, SEK 241 million.

• Net cash position at quarter-end was SEK 2,775 million; cash and cash equivalents at SEK 2,990 million.

Outlook and guidance

• Net sales guidance for 2025 revised to SEK 7.0–7.5 billion due to increased uncertainty from tariffs and currency fluctuations.

• Management sees potential to reach the upper end of the range if conditions normalize.

• Uncertainty is mainly driven by investment climate, currency volatility, and potential indirect effects of tariffs.