SÜSS MicroTec (SMHN) Q2 2026 earnings summary

Executive summary

• Record order intake of €410 million in H1 2026, driven by a €115 million coater order in Taiwan and strong demand in Advanced Backend Solutions, more than doubling sales and up 145.8% year-over-year.

• Sales declined 23.9% year-over-year to €202.8 million, reflecting a transition year and lower sales in Photomask Solutions, but sequential improvement was seen from Q1 to Q2.

• Gross profit margin was 37.2%, slightly above guidance but down 0.8 percentage points year-over-year; EBIT margin was 7.0% for H1, improving to 9% in Q2 but below prior year.

• Free cash flow turned positive at €16.4 million, supported by lower CapEx and improved operating cash flow.

• Order book reached an all-time high of €476 million as of June 30, 2026, providing strong visibility for 2026 and 2027.

Financial highlights

• Net profit for H1 2026 was €8.7 million, down 70.2% year-over-year; EPS basic at €0.46, down 72.9%.

• EBITDA for H1 2026 was €21.5 million (margin 10.6%), down 55.3% year-over-year.

• Cash and cash equivalents increased to €112.3 million; net cash rose to €63.6 million.

• Capital expenditures decreased to €4.6 million, mainly for installations at German sites.

• Equity ratio at 59% as of June 30, 2026, with equity at €326.1 million.

Outlook and guidance

• Full-year 2026 sales guidance confirmed at €425–485 million, with gross profit margin of 35–38% and EBIT margin of 8–10%.

• Approximately €240 million of the order book is expected to convert into sales in H2 2026, with €220 million planned for 2027.

• Management expects stronger sales in H2 2026, with most new orders now for 2027.

• Risks to the outlook have increased due to geopolitical tensions and supply chain bottlenecks, but no significant project delays are currently assumed.