- Total income for the third quarter was EUR 3.0 million (2019: EUR 3.1 million)
- Cash position maintained at a good level
- Book-to-bill ratio was above one for the third quarter
Deventer, 15th October 2020 - RoodMicrotec N.V., a leading independent company for semiconductors supply and quality services, today releases its trading update for the third quarter of 2020. The total income for the quarter was EUR 3.0 million, which is in line with the total income for the third quarter of 2019. COVID-19 is still impacting the business of RoodMicrotec, but the short-term demand from our customers is back to the level of last year. The leading indicator, the book-to-bill ratio, was above one for the third quarter after a drop in the second quarter. For the first 9 months of 2020, the total book-to-bill ratio is above one.
"We are continuing our tight control of operational expenses and are pleased to see that the cash position at the end of the third quarter is maintained at a good level", says Martin Sallenhag, CEO of RoodMicrotec. "These measures along with the level of total income have generated a quarter with break-even net result which is very encouraging."
RoodMicrotec is maintaining a very tight control of the personnel expenses through short-time work when appropriate and possible, as well as a temporary salary waiver of the management. All operational expenses are reviewed in detail and only absolutely necessary costs for delivering our high-quality services to the customers are approved. There is still sufficient capacity within the operational departments, so no additional capital investments are necessary.
Outlook
At this stage, it is still not possible to forecast either the duration of the COVID-19 disruption or the impact of the currently increasing number of new COVID-19 infections in Europe. If there are no further lock-downs, RoodMicrotec expects to generate a total income in the range of EUR 3.2 million to EUR 3.6 million in the fourth quarter of 2020, thus offsetting the temporary drop in total income compared to 2019. The second-half of the year is then expected to generate a positive net result.
About RoodMicrotec
RoodMicrotec is a leading independent company for semiconductor supply and quality services. With 50 years of experience in the semiconductor and electronics industry, RoodMicrotec is well-established as a highly valued partner for many companies worldwide. The company provides full-turnkey ASIC services for complex microchips that are customized to handle specific applications for individual customers. In cooperation with strong partners, RoodMicrotec manages the entire development and production flow of ASICs in the target volume, ranging from low quantities up to multiple millions per year. The turnkey solution includes project management, wafer test, assembly, final test, qualification, failure analysis and logistics. All services comply with the industrial and quality requirements of the high reliability, aerospace, automotive, healthcare and industrial sectors. RoodMicrotec's headquarter is located in Deventer, Netherlands, with operational units in Nördlingen and Stuttgart, Germany.
For more information visit https://www.roodmicrotec.com
Further information
Martin Sallenhag - CEO, Arvid Ladega - CFO
Telephone: +31 570 745623 Email: investor-relations@roodmicrotec.com Web: www.roodmicrotec.com
This press release is published in English and German. In case of conflict between these versions, the English version shall prevail.
Attachment
- 2020 10 15_Trading Update Q3-2020_E (https://ml-eu.globenewswire.com/Resource/Download/52b67274-69d9-4450-92e5-7c4a6bbbdc69)
