- Total income for 2020 was EUR 11.9 million (2019: EUR 13.2 million)
- Substantial overall increase in the second half over the first half of 2020
- Improved cash position compared to the beginning of the year
Deventer, 28th January 2021 - RoodMicrotec N.V., a leading independent company for semiconductors supply and quality services, today publishes the unaudited preliminary total income for the whole year 2020. The unaudited preliminary total income for 2020 amounts to EUR 11.9 million, which is 10% lower than in 2019 but includes a substantial increase in the second half of 2020 (EUR 6.5 million) compared to the first half of 2020 (EUR 5.4 million). The total income in the fourth quarter of 2020 was EUR 3.5 million, which is in the upper range of the October outlook.
The Qualification & Failure Analysis unit shows an increase compared to 2019, thanks to well established relationships with long-term customers. The Test Operations and Supply Chain Management units show some decrease compared to 2019. This is mainly because of the COVID-19 situation and the reduced demand due to the lock-downs and inventory management. Due to the unclear market situation, many customers reduced their demand as well as their inventories and thus did not order new components. This drop was mainly seen in the second quarter of 2020 and significantly improved in the second half of the year.
"We were expecting and budgeted a continuing increase in total income in 2020, but the COVID-19 pandemic significantly affected us. We continued to serve our customers with our usual high quality, but saw a reduced demand in our test operations and supply chain management due to changes in inventory management by our customers", says Martin Sallenhag, CEO of RoodMicrotec. "We have intensified our communication with the customers for a better planning capability, and with this information, we have been able to control our cash situation in a very effective way. Even with an investment in a new test system early in the year, the cash situation at the end of the year 2020 has improved considerably compared to the end of 2019."
Total income by operational unit in 2020 compared to 2019:
| (x € 1,000) | 2020 | 2019 | Change |
| Supply Chain Management | 2,659 | 3,131 | -15% |
| Test Operations | 5,429 | 6,482 | -16% |
| Qualification & Failure Analysis | 3,786 | 3,604 | +5% |
| TOTAL | 11,874 | 13,217 | -10% |
Outlook
Currently, it is still not possible to forecast the duration of the COVID-19 disruption or the impact of the increasing number of infections in Europe. With the present visibility, RoodMicrotec expects a total income in the range of EUR 12.8 million to EUR 13.4 million in 2021. The profit before tax in 2021 is expected to be in the range of 2% to 4% of the total income.
Audit
The financial data in this press release has not been audited.
Forward-looking statements
This press release contains a number of forward-looking statements. These statements are based on current expectations, estimates and prognoses of the board of management and on the information currently available to the Company. The statements are subject to certain risks and uncertainties which are hard to evaluate, such as the general economic conditions, interest rates, exchange rates and amendments to statutory laws and regulations. The board of management of RoodMicrotec cannot guarantee that its expectations will materialise. Furthermore, RoodMicrotec does not accept any obligation to update the statements made in this press release.
Financial calendar
| 22nd April 2021 | Publication annual report 2020 |
| 22nd April 2021 | Conference call for press and analysts |
| 22nd April 2021 | Trading update quarter 1-2021 |
| 10th June 2021 | Annual general meeting of shareholders |
| 22nd July 2021 | Publication interim report 2021 |
| 22nd July 2021 | Conference call for press and analysts |
| 14th October 2021 | Trading update quarter 3-2021 |
About RoodMicrotec
RoodMicrotec is a leading independent company for semiconductor supply and quality services. With more than 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
- 2021 01 28_Preliminary Total Income 2020_E (https://ml-eu.globenewswire.com/Resource/Download/e4c32d30-9e0a-4461-8900-35d3f0e65656)
