Mycronic (MYCR) Q4 2024 earnings summary

Executive summary

• Achieved record net sales of SEK 2,059 million in Q4 2024, up 5% year-over-year, and full-year EBIT exceeded SEK 2 billion for the first time.

• Q4 order intake surged 64% to SEK 2,381 million, with full-year order intake up 21% to SEK 7,611 million and backlog at SEK 4,702 million.

• All divisions delivered EBIT margins at or above 10% for the full year, surpassing internal targets.

• Proposed ordinary dividend of SEK 5.50 and extra dividend of SEK 2.00 per share, reflecting strong results.

• Strategic focus on R&D investment, global sales expansion, and new subsidiaries.

Financial highlights

• Full-year net sales rose 24% to SEK 7,057 million; Q4 EBIT was SEK 527 million (margin 26%), and full-year EBIT margin reached 29%.

• Aftermarket revenue reached a record SEK 516 million in Q4 and SEK 1,745 million for the year.

• Cash and cash equivalents at year-end were SEK 3,014 million; net cash position SEK 2,795 million.

• Q4 EPS was SEK 4.71; full-year EPS SEK 17.25 before dilution.

• Gross margin for Q4 was 48.8% (down from 54%); full-year gross margin improved to 52.7%.

Outlook and guidance

• Net sales guidance for 2025 is SEK 7.5 billion.

• Electronics industry forecasted to grow 6.9% in 2025; semiconductor market expected to grow 10%.

• Expect increased OpEx in 2025 due to R&D, new facilities, and sales network expansion.

• Anticipate a slow start for High Flex in 2025 after a strong Q4 finish.