Mycronic AB (publ)
STO:MYCR
Mycronic AB (publ)
Nestled in the heart of Sweden’s tech industry, Mycronic AB (publ) stands as a beacon of innovation in the realm of advanced production equipment for the electronics market. Founded in 1989, the company has carved a strong foothold with its cutting-edge technology that supports the manufacturing of electronic assemblies and advanced semiconductors. At the core of Mycronic's success is its prowess in the development and production of precision equipment that facilitates the manufacturing process in the electronics industry. Their offerings include mask writers for display manufacturing and surface mount technology (SMT) equipment that optimize and refine the production of circuit boards. These technologies play a crucial role in the production of everything from smartphones to sophisticated defense systems, making Mycronic an indispensable player in its sector.
Mycronic’s business model hinges on the delivery of these high-value, technologically advanced manufacturing solutions that enable their clients to enhance productivity and maintain a competitive edge. What sets Mycronic apart is their ability to leverage decades of expertise to continuously innovate and offer bespoke solutions tailored to the shifting demands of electronic manufacturers worldwide. The company profits not only from the sale of its equipment but also from a dedicated stream of recurring revenue originating from software updates, technical support, and maintenance services. This dual revenue model allows Mycronic to build long-lasting relationships with its clients, nurturing a business that is as much about technological excellence as it is about sustainable growth and adaptation in an ever-evolving global market.
Nestled in the heart of Sweden’s tech industry, Mycronic AB (publ) stands as a beacon of innovation in the realm of advanced production equipment for the electronics market. Founded in 1989, the company has carved a strong foothold with its cutting-edge technology that supports the manufacturing of electronic assemblies and advanced semiconductors. At the core of Mycronic's success is its prowess in the development and production of precision equipment that facilitates the manufacturing process in the electronics industry. Their offerings include mask writers for display manufacturing and surface mount technology (SMT) equipment that optimize and refine the production of circuit boards. These technologies play a crucial role in the production of everything from smartphones to sophisticated defense systems, making Mycronic an indispensable player in its sector.
Mycronic’s business model hinges on the delivery of these high-value, technologically advanced manufacturing solutions that enable their clients to enhance productivity and maintain a competitive edge. What sets Mycronic apart is their ability to leverage decades of expertise to continuously innovate and offer bespoke solutions tailored to the shifting demands of electronic manufacturers worldwide. The company profits not only from the sale of its equipment but also from a dedicated stream of recurring revenue originating from software updates, technical support, and maintenance services. This dual revenue model allows Mycronic to build long-lasting relationships with its clients, nurturing a business that is as much about technological excellence as it is about sustainable growth and adaptation in an ever-evolving global market.
Order Intake: Order intake declined 19% year-over-year to just below SEK 2 billion, mainly due to lower demand in Pattern Generators.
Flat Sales: Sales were nearly unchanged at around SEK 2 billion, with declines in three divisions offset by strong growth in Global Technologies.
Profitability: EBIT dropped to SEK 342 million, with a margin of 17%, impacted by higher R&D and operating costs.
Strong Backlog: Backlog remained healthy at SEK 4.7 billion, supported by growth outside Pattern Generators.
Dividend Increase: Board proposed a dividend of SEK 3.25 per share, up from last year, with no extra dividend.
Guidance & Outlook: Sales for 2025 are expected to reach SEK 8.25 billion, including a minor contribution from Cowin, and based on current exchange rates.
R&D Investment: Continued heavy investment in R&D, especially for new inspection machines in Pattern Generators, with launch planned at the end of 2024.
Global Technologies: This division saw almost 70% order growth and 41% sales growth, benefiting from strong AI-driven demand.
