SÜSS MicroTec (SMHN) Q4 2025 earnings summary

Executive summary

• Achieved record revenue of €503.2 million in 2025, marking double-digit growth and surpassing €0.5 billion for the first time, driven by organic growth over two years.

• Order intake for FY 2025 was €354.3 million, with Q4 rebounding to €117.5 million, reversing earlier negative trends.

• Profitability declined, with gross profit margin at 35.7% and EBIT margin at 13.1%, both down year-over-year but meeting revised guidance.

• Net profit was €46.1 million, down from €110 million in 2024 due to a prior one-time gain from a business sale.

• New production site in Zhubei, Taiwan, became fully operational, supporting future growth.

Financial highlights

• Sales grew 12.6% year-over-year to €503.2 million, up from €446.7 million in 2024.

• Gross profit margin was 35.7%, down from 39.6% year-over-year.

• EBIT margin reached 13.1%, compared to 16.7% in the prior year.

• Free cash flow from continuing operations was negative at €-22.6 million, impacted by investments in the new Taiwan site.

• CapEx rose to €23.2 million, mainly due to the new Zhubei site.

Outlook and guidance

• 2026 sales forecasted at €425–485 million, a decline of 9.6% at midpoint.

• Gross profit margin expected to remain stable at 35–37%; EBIT margin to decline to 8–10% due to lower sales and higher R&D expenses.

• R&D spending will increase, planned to exceed 10% of sales in 2026, supporting future product launches.

• Growth and margin improvement expected from 2027 as new products enter the market; long-term targets for 2030: €750–900 million sales, 43–45% gross margin, 20–22% EBIT margin.