SÜSS MicroTec (SMHN) Q3 2026 earnings summary

Executive summary

• 9M order intake rose 167.5% YoY to €633.5m; the order book reached a record €600.6m, more than double YoY, with visibility beyond 2027.

• 9M sales fell 22.3% to €299.8m as component shortages delayed deliveries; customer demand remained intact and affected orders stayed in backlog.

• Strong backlog, capacity expansion and product launches support growth, while revised 2026 guidance reflects deferred sales and one-off network optimization costs.

Financial highlights

• 9M sales were €299.8m versus €385.6m; gross profit was €110.8m versus €141.9m, down 21.9% YoY.

• 9M gross margin was 37.0% versus 36.8%; EBIT fell to €18.3m from €58.6m and EBIT margin to 6.1% from 15.2%.

• Q3 sales were €97.0m, down 18.5% YoY; gross margin was 36.5%, EBIT margin 4.2%, and EBIT €4.1m, down 71.7%.

• 9M continuing-operations net income was €10.2m versus €43.5m; basic EPS was €0.53.

• R&D expense rose 11.0% to €38.0m, or 12.7% of sales versus 8.9%, supporting portfolio expansion and product launches.

Outlook and guidance

• FY2026 guidance was reduced to adjusted sales of €405–425m and EBIT margin of 5–7%; gross margin guidance remains 35–37%.

• Sales guidance reflects temporary supply constraints shifting revenue into 2027; production relocation and network optimization costs weigh on EBIT margin, including €4.5m expected to affect 2026 Group EBIT from €6.2m of one-time effects.

• Backlog conversion is estimated at €105–125m in Q4 2026, €415–435m in FY2027 and ~€60m in FY2028; these estimates are not guidance or revenue forecasts.

• Q4 order intake is expected to remain strong and above prior-year levels; no specific 2027 revenue guidance was given.

• Q1 2027 should step up, with further substantial increases thereafter; two major sites have potential capacity of €1.1bn in 2027.