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SEZ Group Reports Higher Profitability in Business Year 2006
- Record sales, up 26 percent to CHF 392 million
- Significantly improved EBIT margin of 9.9 percent
- Strong sales level expected to continue in first half of 2007
In business year 2006, the SEZ Group (SWX Swiss Exchange: SEZN) increased net sales by 25.9 percent to CHF 392.0 million. Similarly, order intake was recorded at CHF 407.7 million, surpassing the previous year by 39.3 percent. Moreover, the business year recorded a book-to-bill ratio (ratio between order intake and net sales) of 1.04 and a year-end order backlog of CHF 72.7 million, which exceeded last year by 23.6 percent. Increased profitability
The sharp rise in profitability achieved in 2006 can be attributed to economies of scale and the positive outcome of the company’s cost-optimization program. As a result, gross profit margin increased from 36.4 percent to 39.8 percent. EBIT margin also improved due to a strong second half-year, reaching 9.9 percent versus 4.9 percent in the prior year. Operating profit (EBIT) of CHF 38.7 million surpassed last year by 155.9 percent, while net profit increased from CHF 14.3 million to CHF 36.5 million, resulting in earnings of CHF 2.21 per registered share. Strong market position
The SEZ Group is driving the ongoing transition from batch to single-wafer technology, led by its solutions in the back-end-of-line sector. In business year 2006, SEZ broadened its leading applications and equipment portfolio with the launch of process solutions and high-volume manufacturing equipment for critical cleaning steps and photoresist stripping in the front-end-of-line segment. This move expanded the company’s technology portfolio of offerings to the entire market for wet chemical cleaning steps. Continuing strong sales potential
Given its strong market position, SEZ Group anticipates high sales level to continue, reaching at least CHF 200 million in the first half-year 2007. The company will also strive to once again achieve record sales and results for business year 2007, provided that economic framework conditions remain similar to those of the preceding year. Quarterly Key Figures 2006
in CHF million | Q4/06 | Q3/06 * | Q2/06 * | Q1/06 * | Order intake | 107.3 | 104.4 | 104.7 | 91.3 | Net sales | 108.6 | 115.1 | 99,3 | 68.9 | Operating income (EBIT) | 12.4 | 15.9 | 9.5 | 0.9 | Net profit | 12.2 | 15.3 | 7.4 | 1.7 | Order backlog end of quarter | 72.7 | 75.1 | 86.2 | 82.8 | Book-to-bill ratio | 0.99 | 0.91 | 1.05 | 1.33 |
* Prior year figures have been restated due to the implementation of an accounting policy choice in IAS 19.
Key Figures after 12 Months in CHF million | 2006 | 2005 * | Order intake | 407.7 | 292.7 | Net sales | 392.0 | 311.4 | Operating income (EBIT) | 38.7 | 15.1 | Net profit | 36.5 | 14.3 | Order backlog end of year | 72.7 | 58.8 | Book-to-bill ratio | 1.04 | 0.94 |
* Prior year figures have been restated due to the implementation of an accounting policy choice in IAS 19.
Average exchange rates January – December 2006:
EUR/CHF 1.57395; USD/CHF 1.25342 Upcoming Financial Events
| 26 April 2007 | Annual Shareholders’ Meeting, Zurich, Switzerland, and press release on Q1 results 2007 | | 31 July 2007 | Press release and conference call on six months results 2007 |
This press release includes the following tables (full-year 2006): key figures, income statements, balance sheets, statements of cash flows and changes in equity. Beginning today, the complete 2006 Annual Report is available on SEZ’s homepage located at www.sez.com (Investor/Financial Reports). Additionally, quarterly income statements are available for download on SEZ’s homepage under Investor/Financial Reports/Quarterly Results.
An audio webcast of today’s presentation of financial results in Zurich will be also be available on SEZ’s website beginning 6 p.m. CET. About SEZ Group
The SEZ Group is the leading provider of single-wafer wet-clean processing solutions for the semiconductor industry, with an installed base of over 1,100 tools. The company maintains operations in Asia-Pacific, Europe, 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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