^* 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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