Mycronic's Capital Markets Day 2018

Cision AB

2018-11-29 20:44 1825

STOCKHOLM, Nov. 29, 2018 /PRNewswire/ --

At its Capital Markets Day in Stockholm today, Mycronic offered an insight into the company's strategy, including its plans for continued growth, details about the performance and direction of the two business areas, and a description of market trends and technological developments. The company also repeated its long-term financial goals, which were announced in February 2017:

Net sales including acquisitions will reach SEK 5 billion, at the end of the period covered by the business plan, four to seven years, with 2016 as base year

EBIT will exceed 15 percent of net sales over a business cycle

Net debt will be less than 3 times the average EBITDA calculated over three years

As part of the long-term EBIT goal, it was also reported that the business area Assembly Solutions is expected to exceed 10 percent of net sales over a business cycle at the same time as the Pattern Generators business area is expected to report a continued healthy margin. Future growth is also expected to be mainly generated by Assembly Solutions.

"The consistent implementation of our strategy since 2013 has made us a substantially stronger company today. We have conducted a series of investments that have contributed to strong growth and order intake, and improved earnings. These initiatives have enhanced our competitiveness and created a stable and profitable platform for continued growth. At the same time, I can see that while continuing our profitable growth we have the potential to improve and optimize operations in line with our strategy in the years ahead," says Lena Olving, CEO and President, Mycronic.

She also described the importance of Mycronic's leading ability to drive innovation and that this will remain a prioritized area moving forward to ensure that Mycronic assists its customers in optimizing and developing their operations. During the presentation, Lena Olving also confirmed the outlook for 2018 with respect to net sales of about SEK 3,500 million excluding acquisitions in 2018.

For further information, please contact:
Lena Olving
President and CEO
Tel: +46 8 638 52 00, e-mail: lena.olving@mycronic.com

Tobias Bulow
Director IR and Corporate Communications
Tel: +46 734 018 216, e-mail: tobias.bulow@mycronic.com

The information in this press release was published on November 29, 2018, at 1:00 p.m. CET.

About Mycronic

Mycronic AB is a Swedish high-tech company engaged in the development, manufacture and marketing of production equipment with high precision and flexibility requirements for the electronics industry. Mycronic's headquarters are located in Taby, north of Stockholm and the Group has subsidiaries in France, Japan, China, the Netherlands, Singapore, the United Kingdom, South Korea, Germany and the USA. Mycronic (MYCR) is listed on Nasdaq Stockholm. www.mycronic.com