SÜSS MicroTec (SMHN) Q4 2024 earnings summary

Executive summary

• Achieved record sales of EUR 446 million in 2024, up 46.6% year-over-year, surpassing 2025 targets early.

• Q4 2024 marked the highest sales and order intake in company history, with strong momentum in both Photomask Solutions and Advanced Backend Solutions segments.

• Profitability reached new highs, with significant improvements in gross profit and EBIT margins driven by favorable product and customer mix and higher business volume.

• Net profit was EUR 110.3 million, including EUR 58.3 million from the sale of the MicroOptics business.

• Strong free cash flow of EUR 96.1 million and a robust net cash position of EUR 122 million.

Financial highlights

• Q4 2024 sales reached EUR 150 million, with order intake at EUR 147.5 million, both record highs.

• Full-year 2024 sales were EUR 446 million, up from EUR 304.3 million in 2023.

• Gross profit margin for 2024 was at least 39% each quarter, with a full-year margin of 42.2%.

• EBIT margin improved to 19.2% (+9.8 percentage points), with 2024 projected at ~17.5%.

• Book-to-bill ratio for 2024 was 0.94–0.95; order intake reached EUR 423.7 million.

Outlook and guidance

• 2025 sales guidance set at EUR 470–510 million, implying 10% growth at the midpoint.

• Gross profit margin expected to be 39–41% in 2025, with EBIT margin between 15–17%.

• Order book as of December 31, 2024 stands at EUR 428 million, providing a solid foundation for 2025.

• One-off expenses for new Taiwan site and IT projects will impact 2025 margins.

• Additional momentum anticipated from new product launches in 2026.