• Total income of EUR 5.4 million (HY1 2019: EUR 6.4 million)
• Net result of EUR -0.7 million (after taxes)
• Cash flow from operating activities of EUR 0.8 million
Deventer, 23rd July 2020 – RoodMicrotec N.V., a leading independent company for semiconductors supply and quality services, today publishes the interim report and the half year result for the period ending the 30th June 2020.
The total income in the first half year of 2020 is impacted by the COVID-19 pandemic and ended up at EUR 5.4 million which is 16 % below the figure for the first half year of 2019. It is also about 20% below the expectations for the first half year as budgeted in the fourth quarter of 2019. The second quarter of 2020 was significantly impacted by the uncertainty in the market due to COVID-19 with reduced short-term demand from our customers. No projects have been cancelled or lost, but we see a high level of caution and postponement of deliveries to later stages.
The net result for the first half year of 2020 was EUR -0.7 million which is EUR 0.4 million below the first half year of 2019, excluding one-time effects that were included in the 2019 result. The lower cost of raw materials together with good cost control have reduced the overall costs in the first half year of 2020. The main cost savings are done through short-time work in the German locations. This enables us to keep our well-motivated and experienced personnel in the company through these difficult times and therefore being well prepared for the expected up-swing.
The cash flow from operating activities for the first half year of 2020 was positive at EUR 0.8 million and the net cash flow was EUR -0.2 million due to investments in a new test machine in early 2020. The new V93k test system from Advantest has been running at a very high utilization level from the first day so even in these difficult times it was important to do this invest to be able to serve our customers.
“It has been a tough first half year of 2020 but thanks to the dedication of our employees and the good relationships with our customers and suppliers we have been able to limit the effects of COVID-19. We are well prepared for the expected up-swing even though it is impossible to know exactly when this will happen. The current cash situation and the possibility to run short-time work enables us to continue to serve our customers at an outstanding level”, says Martin Sallenhag, CEO of RoodMicrotec.
You will find the complete unaudited interim report 2020, which is available only in English and as an electronic version, on our corporate website: www.roodmicrotec.com/en/investor-relations-en/financial-publications.
Summary HY1 2020:
(x EUR 1,000) Unaudited
HY1 2020 Unaudited
Total Income 5,361 6,393
EBITDA 150 807
EBITDA in % of net sales 3% 13%
EBIT -623 108
EBIT in % of net sales -12% 2%
Net result -742 5
Net result in % of net sales -14% 0%
23rd July 2020 Annual general meeting of shareholders
24th July 2020 Annual bondholders meeting
15th October 2020 Trading update quarter 3-2020
Note: The conference call on the 30th July 2020 will not take place.
This press release contains a number of forward-looking statements. These statements are based on current expectations, estimates and prognoses of the Board of Management and 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.
RoodMicrotec is a leading independent company for semiconductor supply and quality services. With 50 years of experience in the semiconductor and electronics industry, RoodMicrotec is well-established as a highly valued partner for many companies worldwide. The Company provides full-turnkey ASIC services for complex microchips that are customized to handle specific applications for individual customers. In cooperation with strong partners, RoodMicrotec manages the entire development and production flow of ASICs in the target volume, ranging from low quantities up to multiple millions per year. The turnkey solution includes project management, wafer test, assembly, final test, qualification, failure analysis and logistics. All services comply with the industrial and quality requirements of the high reliability, aerospace, automotive, healthcare and industrial sectors. RoodMicrotec’s headquarters are located in Deventer, Netherlands, with operational units in Nördlingen and Stuttgart, Germany.
This press release is only published in English. 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.