SÜSS MicroTec (SMHN) Industrial Technology Online Investor Conference summary

Company overview and strategic positioning

• Supplies process equipment for both front-end and advanced backend semiconductor manufacturing, with a global customer base and a strong presence in Asia.

• Operates through two main segments: Advanced Backend Solutions and Photomask Solutions, addressing both manufacturing and R&D needs.

• Recent expansion includes consolidating Taiwan operations and rebranding internationally as SUSS.

• Management board brings experience from leading technology and semiconductor firms.

• New R&D center planned in Karlsruhe to drive next-generation process and tool development.

Financial performance and order trends

• Achieved record order intake of EUR 410 million in H1, with EUR 260 million in Q2 alone, marking the strongest quarter in company history.

• Order backlog reached EUR 473.7 million, improving visibility for 2026 and 2027, with EUR 220 million already scheduled for 2027 delivery.

• H1 sales were EUR 202.8 million, in line with expectations for a transition year, and gross profit margin remained strong at 37.2%.

• EBIT margin improved from 4.3% in Q1 to 9% in Q2, reflecting operating leverage as volumes increased.

• Advanced Backend Solutions segment drove growth, with broad-based demand and a significant coater order; Photomask Solutions also saw healthy order intake and strong margins.

Guidance and outlook

• Maintains full-year 2026 guidance: sales of EUR 425–485 million, gross margin 35–37%, EBIT margin 8–10%.

• Strong order momentum improves visibility but does not fundamentally change 2026 revenue potential, as many orders are scheduled for 2027.

• Ambition 2030 targets: sales of EUR 750–900 million, gross margin in the mid-40s, EBIT margin above 20%.

• Production capacity expansion in Taiwan supports growth targets; additional capacity from the new Karlsruhe R&D center is expected but not yet quantified.

• Customer concentration is managed by focusing on large key accounts, with risk mitigated by varying ramp cycles among customers.