RoodMicrotec: Trading update - Start of production of major contract brought forward

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PRESS RELEASE Zwolle - 11 May 2016 Sales in the first quarter matched the 2016 outlook, with one positive highlight and a few minor negatives. Already in the first quarter we are seeing electronic applications increasing fast in number and ...


Zwolle - 11 May 2016

Sales in the first quarter matched the 2016 outlook, with one positive highlight and a few minor negatives.

Already in the first quarter we are seeing electronic applications increasing fast in number and complexity, especially in our focus markets, the automotive and industrial markets. This means for us that one of our big contracts is going into production significantly ahead of expectation, and will therefore contribute positively to our sales already in 2017. Some smaller projects, however, encountered minor delays in the first quarter of 2016.

The newest generation of testing equipment for high-grade more complex chips that we purchased earlier this year, an additional V93k mixed signal testing system and a 12" wafer prober, are already in the engineering phase / production set-up. These are mainly production set-ups for the automotive industry (conventional and electric cars) and the industrial market (IoT).

'That one of our big contracts is going into production some months ahead of schedule means a major sales impulse, but also a big impulse for the organisation as a whole. We are active in key growth markets and have succeeded in positioning ourselves well within them,' said CEO Philip Nijenhuis, CTO Martin Sallenhag and CSO Reinhard Pusch.

Outlook 2016
As a result of new announced arrangements early 2016 and the contracts announced in 2015, RoodMicrotec expects that turnover will increase substantially in the coming years. We expect that in 2020 our turnover will approximately be 75% higher compared to the total turnover of over EUR 10 million in 2015.

Given the increased order value and other positive signals for 2016, we maintain our expected increase for turnover in 2016, as we mentioned in our press release 10 March 2016, to the upper end of the market growth range (7% to 12%).

Financial agenda 2016

7 June 2016 Annual general meeting of shareholders
7 July 2016 Publication sales figures first half 2016
25 August 2016 Publication interim report 2016
25 August 2016 Conference call for press and analysts
15 November 2016 Publication trading update

Forward-looking statements
This press release contains a number of forward-looking statements. These statements are based on current expectations, estimates and prognoses of the board of management and on the information currently available to the company. The statements are subject to certain risks and uncertainties which are hard to evaluate, such as the general economic conditions, interest rates, exchange rates and amendments to statutory laws and regulations. The board of management of RoodMicrotec cannot guarantee that its expectations will materialise. Furthermore, RoodMicrotec does not accept any obligation to update the statements made in this press release.

About RoodMicrotec
With more than 45 years' experience as an independent value-added service provider in the area of micro and optoelectronics, RoodMicrotec offers Fabless Companies, OEMs and other companies a one-stop shop proposition. With its powerful solutions RoodMicrotec has built up a strong position in Europe.

Our services comply with the industrial and quality requirements of the high reliability/space, automotive, telecommunications, medical, industrial and electronics sectors.
Certified by RoodMicrotec concerns inter alia certification of products to the stringent ISO/TS 16949 standard that applies to suppliers to the automotive industry. The company also has an accredited laboratory for test activities and qualification to the ISO/IEC 17025 standard.
Its value-added services include (eXtended) supply chain management and total manufacturing solutions with partners, failure & technology analysis, qualification & burn-in, test & product engineering, production test (including device programming and end-of-line service), ESD/ESDFOS assessment & training and quality & reliability consulting.

RoodMicrotec has branches in Germany (Dresden, Nördlingen, Stuttgart), United Kingdom (Bath) and the Netherlands (Zwolle).

Further information
Philip Nijenhuis, CEO, Reinhard Pusch, COO/CSO, Martin Sallenhag, CTO, Erwin Vrielink, CFO
Telephone: +31 38 4215216
Postal address:
RoodMicrotec N.V., PO Box 1042, 8001 BA  Zwolle

This press release is published in English and Dutch. In case of conflict between these versions the English version shall prevail.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: RoodMicrotec N.V. via Globenewswire


Source(s) : RoodMicrotec N.V.

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