Oddo BHF - Suess Microtec AG (SMHN) SÜSS Micro Tec SE : Feedback from site visit: growth trajectory in excellent shape for 2024-2025 thanks to HBM and to 2nm – Neutral vs Underperform

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Oddo BHF

Maissa Keskes ...

Martin Marandon-Carlhian

SÜSS Micro Tec SE : Feedback from site visit: growth trajectory in excellent shape for 2024-2025 thanks to HBM and to 2nm – Neutral vs Underperform

>Neutral vs Underperform following site visit and change of analyst - We organised a visit with SUSS MicroTec to its Sternenfels site, the focus being the Photomask, Bonding and Coating businesses. We were accompanied by Dr. Thomas Rohe (COO), Stefan Lutter (SVP R&D) and Sven Köpsel (HIR). Following this visit and in the context of a change of analyst on the stock, we have upgraded our rating to Neutral from Underperform and raised our target price from € 28 to € 40. ...

15/04/2024 1 EN

Underlying

Suess Microtec AG

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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DE000A1K0235 Germany

Provider

Oddo BHF

Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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Analysts

Maissa Keskes

Martin Marandon-Carlhian

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SÜSS Micro Tec SE : Feedback from site visit: growth trajectory in excellent shape for 2024-2025 thanks to HBM and to 2nm – Neutral vs Underperform

ODDO BHF Small & MIDCAP MORNING NEWS - 04/15/2024 Date Performance since listing Date Performance since listing

ODDO BHF Small & MIDCAP MORNING NEWS - 15/04/2024 Date Performance depuis l’entrée Date Performance depuis l’entrée

But : Nouvelle émission obligataire avec intégration de Conforama

Air France-KLM : Q1 2024 operating loss 12% above street expectations but outlook reassuring

Société Foncière Lyonnaise : Forte croissance des revenus locatifs de 17.6% à périmètre courant

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