SEZ

SEZ Group Posts Positive Nine Months Results
- EBIT and Net Profit Exceed Market Expectations

In the first nine months of business year 2002, the SEZ Group (SWX: SEZN) received orders worth CHF 162.8 million compared to CHF 134.2 million in same period of 2001. Order backlog stood at CHF 62.2 million on September 30, 2002 (September 30, 2001: CHF 45 million). After three quarters, consolidated net sales were CHF 147.8 million (2001: CHF 228.1 million), corresponding to a book-to-bill ratio of 1.10 (2001: 0.59). In the first nine months, the SEZ Group achieved an operating income (EBIT) of CHF 10.1 million (2001: CHF 59.4 million) and consolidated net profit of CHF 3.5 million (CHF 32.7 million). With an unchanged economic trend, SEZ Group's management expects net sales between CHF 190 million and CHF 200 million for the full year. Under this circumstance, SEZ Group will achieve a positive operating income as well as net profit.

With a market share of 68 percent in 2001, SEZ is the global market leader for single-wafer wet processing in semiconductor manufacturing (source: Dataquest, market share 2001). The high acceptance of SEZ's Spin-Processing systems is reflected in the net sales of the Group. Despite the weak industry situation net sales have been constant during the first three quarters with about CHF 50 million. Order intake after nine months was 21.3 percent higher than last year, with the third quarter particularly showing positive order results from Japan and the U.S.

In the recent months, semiconductor manufacturers mainly invested in SEZ single-wafer equipment for improved cost efficiency of existing 200 mm production lines. Order intake for 300 mm systems decreased in the third quarter compared to the first half-year. However, no cancellations have occurred. With this solid development SEZ has surpassed the current volatile semiconductor equipment market. SEZ Group has a broad product portfolio for wet chemical applications in semiconductor manufacturing and is an established strategic partner of major semiconductor manufacturers on current 300 mm wafer projects. With its tight cost management as well as solid financial situation (positive cash-flow, high liquidity and equity ratio) SEZ is consequently in the position to further increase its technological and market leadership.

Results after nine months (unaudited)

in CHF million
in EUR million
in USD million

9/02
9/01
9/02
9/01
9/02
9/01
Net sales
147.8
228.1
100.7
149.8
93.2
134.1
EBIT
10.1
59.4
6,9
39.0
6,4
34.9
Net profit
3,5
32.4
2,4
21.5
2,2
19.2
Order intake
162.8
134.2
111.0
88.1
102.7
78.9
Order backlogend of quarter
62.2
45.1
42.5
30.5
42.1
27.8
Book-to-Bill-Ratio
1.10
0.59
1.10
0.59
1.10
0.59

Quarterly result (unaudited)

	in CHF million			in EUR million			in USD million
	Q3/02	Q2/02	Q3/01	Q3/02	Q2/02	Q3/01	Q3/02	Q2/02	Q3/01
Net sales	51.2	47.4	78.3	34.9	32.3	51.4	32.3	29.0	46.0
EBIT	7.1	(1.4)	21.7	4.8	(1.0)	14.3	4.5	(0.9)	12.8
Net profit (loss)	5.6	(5.1)	9.2	3.8	(3.5)	6.0	3.5	(3.1)	5.4
Order intake	54.0	75.3	29.2	36.8	51.3	19.2	34.0	46.0	17.2

Attachment
This information includes following un-audited figures (nine months 2002): statement of income, balance sheet.

About SEZ
The SEZ Group is a leading supplier of wet wafer surface preparation equipment to the global semiconductor manufacturing industry. The company's proprietary Spin-Processor technology (single wafer technology) as well as its wet bench equipment for batch processing forms the basis of a broad equipment solution portfolio for wafer cleaning and decontamination. SEZ maintains development, manufacturing, sales, marketing and service operations in Europe, Asia and North America. Registered in Zurich, Switzerland, SEZ Holding AG is listed on the Swiss Exchange under the symbol SEZN since 1996.