Second quarter
- Order intake amounted to SEK 1,330 (2,125) million, a decline of 37 percent
- Net sales increased 35 percent to SEK 2,066 (1,527) million. Based on constant exchange rates, net sales increased 46 percent
- EBIT amounted to SEK 568 (348) million and the EBIT margin was 27 (23) percent
- Earnings per share were SEK 2.28 (1.47) before and after dilution
January-June
- Order intake amounted to SEK 3,388 (3,770) million, a decrease of 10 percent
- Net sales increased 31 percent to SEK 4,208 (3,219) million. Based on constant exchange rates, net sales increased 35 percent
- EBIT amounted to SEK 1,344 (947) million and the EBIT margin was 32 (29) percent
- Earnings per share were SEK 5.46 (3.97) before and after dilution
Outlook 2025
The Board of Directors reverts to its original opinion regarding net sales for 2025 to be at a level of SEK 7.5 billion, from previously a level of SEK 7.0 to 7.5 billion.
CEO comments
Net sales increased 35 percent in the second quarter, with strong growth in Pattern Generators, High Volume and Global Technologies. EBIT increased to SEK 568 million, corresponding to an EBIT margin of 27 percent. Order intake declined 37 percent, explained by Pattern Generators. At the same time, Global Technologies showed a strong order intake.
In Pattern Generators, photomask markets were stable for both displays and semiconductors in the second quarter of the year. Pattern Generators did not receive any orders for new systems during the quarter and order intake was only related to the aftermarket, where service contracts continue to increase with the growing number of installed systems. The business is characterized by fluctuations over time and performance should be viewed from a long-term perspective.
During the quarter, High Flex changed its name to PCB Assembly Solutions. The new name reflects the division's growing product offering of advanced production equipment and solutions for the manufacturing of PCB assemblies. The European market showed signs of some recovery from a low level during the second quarter, while the US market was characterized by uncertainty over tariffs.
High Volume's Chinese domestic market continued to show strong demand during the second quarter. Business outside China also performed well.
Global Technologies completed two acquisitions during the quarter. In April, RoBAT was acquired, a company headquartered in the United Kingdom, which has developed a technology for fast and reliable tests of signal quality on PCBs. RoBAT forms part of the PCB Test business line. In June, Surfx Technologies was acquired, a company headquartered in the US, providing atmospheric plasma solutions for surface treatment, including cleaning and active oxide removal. These solutions are used in advanced packaging, semiconductor processing, and other electronics manufacturing applications. Surfx forms a new business line within the Global Technologies division, called Applied Plasma. The division now has five business lines: PCB Test, Die Bonding, Photonic Interconnects, Magnetic Test and Applied Plasma.
The market for the PCB Test business line remained strong, while the Die Bonding business line was affected by the uncertainties created by the US-China tariff dispute.
After the end of the period, Pattern Generators signed an agreement to acquire Cowin DST, a company based in South Korea primarily providing systems for display panel repair, as well as display and semiconductor photomask repair. Closing is pending regulatory approval, expected to take two to four months.
Following a strong second quarter, completed acquisitions and reduced time for uncertainty since there are less than six months remaining of the year, the Outlook for 2025 has been revised.
Anders Lindqvist, President and CEO
Financial information
Mycronic AB (publ) is listed on Nasdaq Stockholm, Large Cap. The information in this report is published in accordance with the EU Market Abuse Regulation and the Swedish Securities Act. The information was submitted for publication, through the contact persons stated below, at 8:00 a.m. CEST on July 11, 2025.
Financial reports and press releases are published in Swedish and English and are available at mycronic.com.
This report was not reviewed by the company's auditor.
Presentation
Mycronic will hold a presentation at 10:00 a.m. CEST on July 11, 2025, with President and CEO Anders Lindqvist and CFO and Sr VP Corporate Development Pierre Brorsson. The presentation will be webcast.
For additional information, please contact:
Anders Lindqvist
President and CEO
Tel: +46 8 638 52 00
E-mail: anders.lindqvist@mycronic.com
Pierre Brorsson
CFO & Sr VP Corporate Development
Tel: +46 8 638 52 00
E-mail: pierre.brorsson@mycronic.com
Sven Chetkovich
Director Investor Relations
Tel: +46 70 558 39 19
E-mail: sven.chetkovich@mycronic.com
