Press Releases

Interim Report 2011 - ROODMICROTEC N.V. growing on all fronts

Zwolle, 31 August 2011


INTERIM REPORT 2011


ROODMICROTEC N.V. growing on all fronts


Summary H1 2011

Highlights H1 2011 compared to H1 2010
* Contribution of business units (product/service groups) to sales growth
between 5% and 50%.
* 20% increase of sales per employee to EUR 140,000.
* Reduction of net debt position from EUR 4.3 to EUR 2.5 million.
* Debt ratio improved from 2.8 to 0.9.
* Solvency improved from 21% to 46%.
* Working capital ratio improved from 0.83 to 1.00.


Philip Nijenhuis, RoodMicrotec CEO:
'We can look back on an excellent first half. The developments in the first half
form a solid basis for achieving our long-term objectives, both in terms of
sales and result. We do not expect the same growth rate in the second half of
this year as we had in the first half.
Our strategy focuses on further developing the Supply Chain Management business
unit. We expect that this will boost the growth of our other services, Failure &
Technology Analysis, Test Engineering and Qualification & Reliability
Investigation. This approach has borne fruit for some time.'


Report of the board of management

1. GENERAL

The developments in the table below show that RoodMicrotec is systematically
growing faster than the market, although with significant short-term
fluctuations.

1.1. Developments by business unit (product /service group)

There was growth in all sectors of our services. Demand was steady in both new
product development and in recurring orders in the industry, automotive,
medical, space & aeronautical and other sectors. The new product developments
resulted in considerable growth of our engineering activities.

In the first half of 2011, Test Engineering recorded the strongest growth at
46.4%. The business units Test, Supply Chain Management and Failure & Technology
Analysis grew by 18.3%, 19.6% and 17.3% respectively. The business unit
Qualification & Reliability Investigation showed moderate growth of 5.1%.


RoodMicrotec sales H1 2011 vs H1 2010

+-----------------------------------------+-+-------+-+-------+-+------+
|(x EUR 1,000) | |H1 2011| |H1 2010| |Change|
+-----------------------------------------+-+-------+-+-------+-+------+
|  | |  | |  | |  |
+-----------------------------------------+-+-------+-+-------+-+------+
|Test | | 3,925| | 3,319| | 18.3%|
+-----------------------------------------+-+-------+-+-------+-+------+
|Supply Chain Management | | 2,142| | 1,791| | 19.6%|
+-----------------------------------------+-+-------+-+-------+-+------+
|Failure & Technology Analysis | | 883| | 753| | 17.3%|
+-----------------------------------------+-+-------+-+-------+-+------+
|Test Engineering | | 511| | 349| | 46.4%|
+-----------------------------------------+-+-------+-+-------+-+------+
|Qualification & Reliability Investigation| | 1,173| | 1,116| | 5.1%|
+-----------------------------------------+-+-------+-+-------+-+------+
|Total | | 8,634| | 7,328| | 17.8%|
+-----------------------------------------+-+-------+-+-------+-+------+

1.2. Personnel

The number of permanent staff members decreased by approx. 3% compared to 30
June 2010. In view of the strong developments in the engineering segment, we are
looking to take on new engineers. Our growth will be based partly on fixed
employees and partly on flexible personnel.

1.3 Risk management

The various risks the company is exposed to are listed in RoodMicrotec's 2010
annual report. We strive to limit the risks, inter alia by periodical and
systematic risk reviews of selected aspects. These reviews are conducted approx.
8 times every year. Corrective measures are taken where necessary. The
management does not currently foresee any material changes in the risks in 2011.


2.        NOTES TO THE FINANCIAL RESULTS

2.1. Sales and result

The sales of EUR 8.634 million in the first half of 2011 constituted a
significant 17.8% increase compared to the first half of 2010 (H1 2010: EUR
7.328 million) at a gross margin of 79% (H1 2010: 75%).

EBITDA was EUR 1.398 million (H1 2010: EUR 0.775 million), or 16% of sales. EBIT
was EUR 0.771 million (H1 2010: EUR -0.064 million), or 9% of sales.
The net result rose to EUR 0.529 million (H1 2010: EUR -0.278 million), or 6% of
sales. This is equivalent to EUR 0.01 per share.
Net financing costs were EUR 0.161 million, 25% down on the first half of 2010.

2.2. Cash flow

In the first half, we realised a cash flow (net result and depreciation) of EUR
1.237 million (H1 2010: EUR 0.561 million) and a cash flow from operating
activities of EUR 1.061 million (H1 2010: EUR 0.243 million).


3. OUTLOOK 2011

The general outlook is that the growth of the semiconductor industry will fall
below last year's forecast. The recent global macroeconomic developments are
making it hard to make concrete predictions for the second half of 2011. We are
noticing some reservations among our customers. As always, we will keep a close
eye on market developments, and where necessary take appropriate measures,
including further cost reductions.


We maintain our long-term sales objectives (autonomous growth of between 5% and
15%), which we have achieved over the past few years. In this context we will
continue to prioritise improving our financial results (such as EBITDA and EBIT)
and keeping our balance sheet ratios healthy.


4. FINANCIAL AGENDA 2011/2012

10 November 2011 Publication trading update

10 January 2012 Publication sales figures full year 2011

23 February 2012 Publication annual figures 2011

23 February 2012 Conference call for press and analysts

9 March 2012 Publication annual report 2011

26 April 2012 Annual general meeting of shareholders

15 May 2012 Publication trading update

10 July 2012 Publication sales figures first half 2012

31 August 2012 Publication interim report 2012

31 August 2012 Conference call for press and analysts

15 November 2012 Publication trading update

About RoodMicrotec
With 40 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 shopping proposition. With our 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, IT 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
calibration to the ISO/IEC 17025 standard.

Its value-added services include failure & technology analysis, qualification &
burn-in, test & product engineering, production test (including device
programming and end-of-line service), ESD/ESDFOS assessment & training, quality
& reliability consulting, supply chain management and total manufacturing
solutions with partners.

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

Further information:
Philip Nijenhuis, CEO         Telephone +31 38 4215216
Postal address:
RoodMicrotec N.V., PO Box 1042, 8001 BA  Zwolle
E-mail:investor-relations@roodmicrotec.com             Website:
www.roodmicrotec.com (http://www.roodmicrotec.com)

RoodMicrotec Interim Report 2011 :
http://hugin.info/130789/R/1542202/472287 (http://http://hugin.info/130789/R/1542202/472287)pdf

Sales Revenue Index -06/2011:
http://hugin.info/130789/R/1542202/472047 (http://http://hugin.info/130789/R/1542202/472047)pdf

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: RoodMicrotec N.V. via Thomson Reuters ONE

[HUG#1542202]


Relaterade filer

© Banque Carnegie Luxembourg S.A. 2018. All rights reserved.