SÜSS Micro Tec AG : Sluggish 2019 does not undermine the long-term story, stick to Buy with target price of €17
>SMHN finishes 2018 on solid note - SÜSS MicroTec SE (SMHN) yesterday confirmed pre-announced figures for the full year 2018. The group generated sales of € 203.9m (+22% growth yoy) and booked orders of € 191m during the year, €9m below last year’s level. The order backlog stood at € 84.7m at the end of 2018 (2017: € 133.4m). Regarding profitability, the gross margin declined to 33%, contracting by 270 basis points on the year. The group recorded an operating profit o...SUESS MicroTec SE Formerly known as Suess MicroTec AG. SUESS MicroTec SE is a Germany-based holding company (the Group) that supplies process equipment for microstructuring in the semiconductor industry. The Group operates through four segments: Lithography, Bonder, Photomask Equipment and Others. The Lithography division develops, produces and sells the mask aligner, developer, and coater product lines, as well as ultraviolet (UV) projection and laser processing product lines. The Bonder division comprises the development, production and distribution of the substrate bonder product line. The Photomask Equipment division includes the development, manufacture and sale of HMx, ASx, MaskTrack and MaskTrack Pro product lines through SUSS MicroTec Photomask Equipment GmbH & Co KG. The Others division combines further activities of the Group in the area of micro-optics and lenses and the centralized Group functions.
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