RoodMicrotec N.V. publishes the Interim Report for 2023
- Total income
grew by 18.5% to EUR 8.7
million (HY1 2022: EUR 7.3 million)
- EBITDA increased
to EUR 1.8 million (HY1
2022: EUR 1.4 million)
- Net
profit rose to EUR 0.9
million (HY1 2022: EUR 0.6
million)
Deventer, July
20,
2023
– RoodMicrotec N.V., a leading independent company
for semiconductor supply and quality services, today publishes the
Interim Report for the six-month period ended June 30, 2023.
RoodMicrotec reports a total income of EUR 8.7
million for the first half-year of 2023, which is 18.5% higher than
the total income reported for the first half-year of 2022 and 6%
lower than for the second half-year of 2022. The increase in total
income is driven by a continued strong delivery level, especially
by the Test Operations unit. The slight reduction between the
second half-year of 2022 and the first half-year of 2023 is
predominantly due to the normal cyclical business in the
semiconductor industry, where the second half of the year typically
can be characterized by stronger demand.
Operational Unit (x EUR
1,000) |
HY1 2023 |
HY1 2022 |
Change |
Test Operations |
5,845 |
4,496 |
30.0% |
Supply Chain Management |
1,466 |
1,398 |
4.9% |
Qualification & Failure Analysis |
1,356 |
1,423 |
-4.7% |
Total |
8,667 |
7,317 |
18.5% |
Total operating expenses for the first half-year
of 2023 amounted to EUR 6.8 million against EUR 5.9
million for the first half-year of 2022, while cost for raw
materials and consumables remained stable at EUR 1.1 million.
Personnel expenses increased to EUR 4.0 million (HY1 2022: EUR
3.6 million) due to bonus expenses and an increase in the number of
employees. Other operating expenses increased to
EUR 1.7 million (HY1 2022: EUR 1.2 million),
predominantly due to the costs incurred for financial and legal
advice and support in relation to the Public Offering process in
the amount of EUR 0.5 million for the first half-year of 2023.
EBITDA increased from EUR 1.4 million for the
first half-year of 2022 to EUR 1.8 million for the first half-year
of 2023. Through excellent cost control we have succeeded in
further reducing the overall costs as a percentage of total income
by 1.4% in the first half-year of 2023. The cost of raw materials
stayed at EUR 1.1 million in the first half-year of 2023, but as
percentage of total income came down by 2%-points to 13% compared
to first half-year of 2022.
Depreciation charges of EUR 0.8 million were
higher in the first half-year of 2023 (HY1 2022: EUR 0.7
million) due to capital expenditure during the second half-year of
2022 and the first half-year of 2023. Total financial expenses
maintained at the same level of EUR 0.1 million for the first
half-year of 2023 and 2022.
Net profit for the first half-year of 2023
increased by 35% to EUR 0.9 million compared to the first half-year
of 2022.
Adjusting for non-recurring costs incurred for
financial and legal advice and support in relation to the Public
Offering process in the amount of EUR 0.5 million in the first
half-year of 2023, the adjusted EBITDA would have been EUR 2.3
million (HY1 2022: EUR 1.4 million) and the adjusted net profit
would have been EUR 1.4 million (HY1 2022: EUR 0.6 million).
Financial data
(x EUR 1,000) |
Note |
HY1 2023 |
HY1 2022 |
|
Total Income |
|
8,667 |
7,317 |
|
EBITDA |
|
1,825 |
1,440 |
|
Adjusted EBITDA |
1 |
2,286 |
1,440 |
|
Net profit |
|
869 |
644 |
|
Adjusted net profit |
1 |
1,330 |
644 |
|
Note
1: after excluding
non-recurring costs incurred for financial and legal advice and
support in relation to the Public Offering process in the amount of
EUR 0.5 million in the first half-year 2023
Net cash flow from operating activities for the
first half-year of 2023 was positive with EUR 1.8 million (HY1
2022: EUR 0.3 million). The increase results from higher net
profit and reduced working capital compared to the first half-year
of 2022. Cash flow from investing activities was EUR 0.5 million
negative (HY1 2022: EUR 0.4 million negative). Cash flow from
financing activities for the first half-year of 2023 amounted to
EUR 1.2 million negative (HY1 2022: EUR 0.5 million negative),
including EUR 1.1 million for redemption of the non-controlling
interest (HY1 2022: EUR 0.4 million negative). Total net cash flow
for the first half-year of 2023 amounted to
EUR 0.1 million positive (HY1 2022: EUR 0.6 million
negative). Cash and cash equivalents at the end of the half-year of
2023 amounted to EUR 3.7 million (December 31, 2022: EUR
3.6 million; June 30, 2022: EUR 1.9 million).
“The first six months of 2023 have continued to
run at the same level as the second half-year of 2022 which meant a
good start for the whole year. We still see some supply challenges
in the world, but we have been able to continue our Test Operations
at a high utilization level. The load situation at the end of the
second quarter, in combination with our current order book level
provide a solid base for the second half-year of 2023.”, says
Martin Sallenhag, CEO of RoodMicrotec.
Interim Report
2023 (reviewed
by KPMG Accountants N.V. due to Public Offering
process)
You will find the complete Interim Report 2023,
which is available in English only, on our corporate website:
www.roodmicrotec.com/en/investor-relations-en/financial-publications.
The Interim Report 2023 has been reviewed by
KPMG Accountants N.V. pursuant to the provisions of
Appendix B, Paragraph 2 sub 2.4 of the Dutch Decree on Public
Takeover Bids (Besluit openbare biedingen Wft). The review opinion
issued by KPMG Accountants N.V. is attached to the Interim Report
2023.
Outlook
RoodMicrotec expects the total income for 2023
to be in the range of EUR 17.0 million to
EUR 17.5 million, with a profit before tax of 5-10%. The
geopolitical situation in the world and the current energy crisis
throughout Europe could have an impact on the Company’s business.
RoodMicrotec is keeping a close eye on the situation and is doing
everything possible to mitigate any potential negative impact.
Financial calendar
July 20, 2023 |
Conference call for media, analysts and shareholders |
October 19, 2023 |
Trading update for the third quarter of 2023 |
[Date to be determined] |
Extraordinary General Meeting of Shareholders (in relation to the
Public Offer by Microtest) |
Conference call
CEO Martin Sallenhag and CFO Arvid Ladega will
present the Interim Report 2023 and hold a Q&A session. You are
invited to join RoodMicrotec’s conference call for media, analysts
and shareholders (a Microsoft TEAMS event) on
Thursday, July
20,
2023 at 9:30 CEST
Login-information:Join
with your computer or mobile
app Click
here to join the meeting
Or call in (audio only)
+49 69 509544247 |
Germany, Frankfurt am Main |
+31 20 399 9804 |
The Netherlands, Amsterdam |
+32 2 895 09 68 |
Belgium, Bruxelles |
+41 43 217 23 02 |
Switzerland, Zurich |
+39 02 3206 8489 |
Italy, Milano |
Find a local number – in case you are in another countryPhone
Conference ID: 236
111 572#
Forward-looking
statements
This press release contains a number of
forward-looking statements. These statements are based on current
expectations, estimates and prognoses by the Board of Management as
well as 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 materialize. Furthermore,
RoodMicrotec does not accept any obligation to update the
statements made in this press release.
About RoodMicrotec
With more than 50 years of experience in the
semiconductor and electronics industry, RoodMicrotec is a leading
independent company for semiconductor supply and quality services.
RoodMicrotec is a highly valued partner for many companies
worldwide and offers specifically tailored turnkey solutions for
each single customer's requirements. The turnkey services include
project management, wafer test, assembly, final test,
qualification, failure analysis, and logistics. All services
provided by RoodMicrotec meet the high quality standards of the
automotive, industrial, healthcare, and high reliability aerospace
sectors. RoodMicrotec is headquartered in Deventer, Netherlands,
with operational units in Nördlingen and Stuttgart, Germany.
For more information, please visit
https://www.roodmicrotec.com
Further information
Martin Sallenhag, CEO or Arvid Ladega, CFOPhone
+31 570 745623, E-mail investor-relations@roodmicrotec.com
This press release is published in English only.
This communication contains information that qualifies as inside
information within the meaning of Article 7(1) of the EU Market
Abuse Regulation. The company’s managing director and CEO Martin
Sallenhag, is responsible for arranging the release of this
document on behalf of RoodMicrotec.
- 2023 07 20_RoodMicrotec-half year result_E
- 2023 Interim Report
RoodMicrotec NV (EU:ROOD)
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