Mycronics order intake, sales and operating profit lifted significantly, the report shows for the second quarter. Order intake amounted to SEK 775 million compared with 311 million the same quarter last year, while operating profit landed at 106 million, compared with 1 million the same quarter last year.
Mycronics shares lifted on the Stockholm stock Exchange, rising by more than 12 percent on Wednesday.
According to CEO Lena Olving there was a strong demand that lifted earnings and order book. Mycronic supplies production equipment for the electronics industry and consists of two business areas: pattern generators and SMT equipment.
“We have a strong demand for mask writer and this year we have received eight orders, including six as called advanced mask writers. Where is the long delivery times, and it takes some time before the new orders will be selling, “says Lena Olving and highlights the hard systematic work, the reason for the order intake.
For SMT equipment is demand weaker . In 2015 there was a decline in the industry, which continued during the first quarter in 2016.
“Despite the increased we have sales in 2015. We had a sales perspective slightly weaker first quarter of 2016 we recovered this quarter. While the market has shrunk somewhat as we increase sales and maintain our margins, it is not price cuts from us that drives sales, “says Lena Olving.
How do you see the risk that Mycronic end up in a negative spiral of price reductions?
“We have unique products that solve unique problems for customers. We and our customers agree that this price level is reasonable. What could happen is that more competitors are trying to establish themselves but it’s nothing that we see at the moment, “says Lena Olving.
Mycronics forecast net sales in 2016 is located at 1, 9 billion.
“so far we have sold for SEK 800 million, so we are seeing a growth in the second half,” said Lena Olving.
She points out that electronics industry is huge and consists of very different segments.
“In this gigantic industry it is different for the segments in size and growth. As to our segments, we get all the data one quarter in arrears, “said Lena Olving.
In 2016 Mycronic bought two companies for a total of 72.7 million. The company at the same time looking for new acquisitions, which is reflected in increased administrative costs. According to the company’s acquisitions as required to complement the organic growth of to reach the target of a turnover of 2 billion.
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