Mycronic (MYCR) Q2 2025 earnings summary

Executive summary

• Net sales rose 35% year-over-year in Q2 to SEK 2,066 million, with EBIT up to SEK 568 million and a margin of 27%.

• Order intake declined 37% to SEK 1,330 million, mainly due to no new system orders in Pattern Generators, while Global Technologies saw robust order intake.

• Backlog remains strong at over SEK 4 billion despite reduced order intake and higher sales.

• Three acquisitions completed or announced: Hprobe, ROBAT, Surfx/Surfex, and agreement to acquire Cowin DST/CoVIN, expanding technology and market reach.

• Share split executed, doubling the number of shares.

Financial highlights

• Net sales exceeded SEK 2 billion for the third consecutive quarter.

• EBIT margin held at 27% for the quarter; rolling twelve-month EBIT margin reached 30%.

• Aftermarket sales at SEK 465 million, 24% of net sales, up year-over-year but down sequentially.

• Cash flow from operations was SEK 668 million YTD, impacted by higher inventory and prepaid items.

• Net cash position of SEK 1,606 million and cash at period end of SEK 1,800 million.

Outlook and guidance

• 2025 net sales guidance raised to SEK 7.5 billion, reflecting strong Q2 and recent acquisitions.

• Less uncertainty for the remainder of the year due to robust backlog and only six months left.

• Electronics industry and semiconductor markets expected to grow 7.4% and 11.8% respectively in 2025.