GNW-Adhoc: RoodMicrotec N.V. publishes the Interim Report for 2023

dpa-AFX · Uhr

^* 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    (http://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
                         Extraordinary  General  Meeting  of  Shareholders  (in
 [Date to be determined] 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
(https://teams.microsoft.com/l/meetup-
join/19%3ameeting_NjU2YzJkMjgtMjZmMi00YjA3LTkyOTItNzg2MzAzNTEzYjdi%40thread.v2/0
?context=%7b%22Tid%22%3a%22930753b9-bd94-4f34-8436-
a015a79e0ba4%22%2c%22Oid%22%3a%22f12cb189-3196-4b96-90ea-2db527d9d9d3%22%7d)
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 (https://dialin.teams.microsoft.com/a2cb486a-04b4-4172-b40d-
84319adc6440?id=760330187) - in case you are in another country
Phone 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, CFO
Phone         +31 570 745623, E-mail         investor-relations@roodmicrotec.com
(mailto: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.
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