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SEZ Group Confirms Improved Net Sales and Order Intake in First Quarter 2005
- Operating Profitability Still Under Pressure Due to Challenging Market Environment
In the first quarter of 2005, the SEZ Group (SWX Swiss Exchange: SEZN) increased consolidated net sales compared to the previous quarter by 4.3 percent from CHF 75.7 million to CHF 79.0 million. Operating income was CHF 4.8 million compared to CHF 2.3 million in the previous quarter. EBIT margin improved from 3.0 percent to 6.1 percent. Consolidated net profit was CHF 3.9 million compared to CHF 5.3 million in the fourth quarter 2004, which corresponds with a net profit margin of 4.9 percent.
In the first three months of 2005, order intake improved by 10.6 percent to CHF 69.0 million compared to the previous quarter. The book-to-bill ratio stood at 0.87, and order backlog was recorded at CHF 67.2 million as of March 31, 2005.
Improved order intake in the first quarter reflects the increasing demand for SEZ tools, especially from the Asia-Pacific region. Additionally, approximately 80 percent of new orders were for 300-mm processing systems, and more than half were for tools based on the Da Vinci™ platform.
SEZ expects the order momentum to continue for the remainder of the year. Due to the strong demand for Da Vinci tools, SEZ expects orders for these systems will account for approximately 60 percent of the Group’s full-year sales.
Quarterly key figures (unaudited)
in CHF million | Q1/05 | Q4/04 | Q1/04 | Order intake | 69.0 | 62.4 | 81.3 | Net sales | 79.0 | 75.7 | 66.3 | Operating income(EBIT) | 4.8 | 2.3 | 11.4 | Net profit | 3.9 | 5.3 | 10.5 | Order backlog end of quarter | 67.2 | 76.7 | 70.6 | Book-to-bill ratio | 0.87 | 0.82 | 1.23 |
Average exchange rates as of March 31, 2005:
EUR/CHF 1.54855; USD/CHF 1.18070
This press release includes tables of the consolidated income statement and balance sheet as well as regional sales distribution.
About SEZ Group
The SEZ Group is the leading provider of single-wafer, wet-clean processing solutions for the global semiconductor industry, with an installed base of over 850 tools. The company maintains operations in Europe, Asia-Pacific, Japan and North America. Since 1996, registered shares of SEZ Holding Ltd. have been traded on the SWX Swiss Exchange under the symbol SEZN. Additional information about the company is available on the Internet at www.sez.com.
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