In This Article:
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Order Intake: SEK2 billion, driven by pattern generators division.
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Sales: SEK1.5 billion, a 23% increase compared to the same quarter last year.
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EBIT: SEK348 million, doubled from the previous period, with a margin of 23%.
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Backlog: SEK4.7 billion, including 30 systems for pattern generators.
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Pattern Generators Sales: SEK650 million, up 47%.
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Pattern Generators Gross Margin: 67%.
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Pattern Generators EBIT Margin: 53%.
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High Flex Order Intake: Increased by 4%.
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High Flex Sales: Up 2%.
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High Flex Gross Margin: 40%.
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High Flex EBIT: SEK18 million.
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High Volume Sales: Increased by almost 30%.
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High Volume Gross Margin: 41%.
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High Volume EBIT: 14%.
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Global Technologies Order Intake: Declined by 16%.
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Global Technologies EBIT: Minus SEK15 million, impacted by Vanguard Automation acquisition.
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Cash Position: SEK2.5 billion.
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Rolling 12-Month Sales: Approaching SEK6.5 billion.
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Rolling 12-Month EBIT Margin: 28%.
Release Date: July 12, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Order intake increased significantly, reaching approximately SEK2 billion, driven by strong performance in the pattern generators division.
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Sales increased by 23% compared to the same quarter last year, totaling more than SEK1.5 billion.
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EBIT doubled to SEK348 million, with a strong EBIT margin of 23%.
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The company launched two important products: the Prexision 8000 and MMX, and completed the Vanguard acquisition.
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The pattern generators division showed strong performance with a 47% increase in sales and a stable gross margin of 67%.
Negative Points
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The high flex division faced challenges with a low order backlog of SEK167 million, indicating potential future sales pressure.
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The global technologies segment experienced a 16% decline in order intake, with slow development in the die bonding business line.
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The acquisition of Vanguard Automation negatively impacted EBIT by SEK16 million due to operational costs without corresponding sales.
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The US market remains difficult for the high flex division, characterized by uncertainty driven by upcoming elections.
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The electric vehicle industry showed slower growth, particularly outside of China, affecting the high volume division.
Q & A Highlights
Q: What is the reason behind the updated guidance of SEK6.5 billion, and can you elaborate on the die bonding business in global technologies? A: Anders Lindqvist, CEO, explained that the updated guidance reflects improved certainty and positive developments in China. Pierre Brorsson, CFO, noted that die bonding orders are typically clustered, leading to variability in order intake and deliveries. Despite a weak quarter, the long-term outlook for die bonding remains positive.