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SEZ Group issues positive outlook for profitable growth
- Record net sales of CHF 311 million confirmed for the full-year 2005
- 2005 EBIT-margin of 4.1 percent above expectations
- Decline in net sales due to short-term delivery postponements in first quarter 2006
- Significant increase in sales and margins expected in second quarter 2006
The SEZ Group (SWX Swiss Exchange: SEZN) reported a strong fourth quarter 2005 that benefited from a rebound in the semiconductor manufacturing equipment market. Order intake increased 27.6 percent over the previous quarter to CHF 89.7 million. Fourth quarter net sales of CHF 80.2 million exceeded the previous quarter by 7.2 percent. Higher net sales, a favorable product mix and the receipt of CHF 2.8 million in tax-free research and development premium all helped drive operating income (EBIT) to CHF 6.1 million. As a result, EBIT profit margin rose to 7.6 percent, while net profits in the fourth quarter were CHF 5.5 million or 6.9 percent of net sales. These growth dynamics are reflected in the Group's book-to-bill ratio of 1.12.
The strong market recovery in the fourth quarter contributed to record sales of CHF 311.4 million in the full-year 2005. For the full year, the SEZ Group recorded operating income (EBIT) of CHF 12.6 million, an EBIT-margin of 4.1 percent as well as net profits of CHF 12.4 million.
Decline in net sales in Q1/06 – significant increase in sales and margins expected for Q2/06
The SEZ Group expects to receive new orders at record level worth more than CHF 90 million in the first quarter of 2006. Due to short-term delivery postponements, preliminary net sales will be between CHF 68 and 69 million and operating income (EBIT) around breakeven point. For the period April to June 2006, SEZ Group is expecting significant higher net sales of more than CHF 90 million with an EBIT-margin of more than 5 percent.
Quarterly Key Figures (unaudited)
in CHF million | Q4/05 | Q3/05 | Q4/04 | Order intake | 89.7 | 70.3 | 62.4 | Net sales | 80.2 | 74.8 | 75.7 | Operating income (EBIT) | 6.1 | 0.3 | 2.3 | Net profit | 5.6 | 0.6 | 5.3 | Order backlog end of quarter | 58.8 | 51.6 | 76.7 | Book-to-bill ratio | 1.12 | 0.94 | 0.82 |
Key Figures After 12 Months
in CHF million | 12/05 | 12/04 | Order intake | 292.7 | 309.1 | Net sales | 311.4 | 304.8 | Operating income (EBIT) | 12.6 | 37.8 | Net profit | 12.4 | 32.1 | Order backlog end of year | 58.8 | 76.7 | Book-to-bill ratio | 0.94 | 1.02 |
Average exchange rates for January – December 2005:
EUR/CHF 1.54831; USD/CHF 1.24589
Upcoming Financial Dates
3 May 2006 Annual Shareholders' Meeting and press release on Q1 2006 results
This press release includes the following tables (full-year 2005): consolidated key figures, income statement, balance sheet, cash flows and changes in shareholders' equity. Beginning today, the complete 2005 Annual Report is available on SEZ's homepage located at www.sez.com (Investor/Financial Reports). 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 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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