Q2 2024 Mycronic AB (publ) Earnings Call Transcript
Key Points
- Order intake increased significantly, reaching approximately SEK2 billion, driven by strong performance in the pattern generators division.
- Sales increased by 23% compared to the same quarter last year, totaling more than SEK1.5 billion.
- EBIT doubled to SEK348 million, with a strong EBIT margin of 23%.
- The company launched two important products: the Prexision 8000 and MMX, and completed the Vanguard acquisition.
- The pattern generators division showed strong performance with a 47% increase in sales and a stable gross margin of 67%.
- The high flex division faced challenges with a low order backlog of SEK167 million, indicating potential future sales pressure.
- The global technologies segment experienced a 16% decline in order intake, with slow development in the die bonding business line.
- The acquisition of Vanguard Automation negatively impacted EBIT by SEK16 million due to operational costs without corresponding sales.
- The US market remains difficult for the high flex division, characterized by uncertainty driven by upcoming elections.
- The electric vehicle industry showed slower growth, particularly outside of China, affecting the high volume division.
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Hello, and welcome to the presentation of Mycronic's Q2 report. My name is Sven Chetkovich. I'm the Director, Investor Relations at Mycronic. And with me, I have Anders Lindqvist, Mycronic's CEO; and Pierre Brorsson, Mycronic's CFO, who will be presenting today.
And with this little introduction, I now hand over to Anders. Please go ahead and present Mycronic's Q2 report.
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Thank you very much, Sven, and most welcome to everyone to this presentation of the second quarter. So what we will cover today is the usual agenda for those who have seen it before.
It's a short summary of the second quarter. We'll go a little bit deeper on the different divisions. Pierre will talk a little bit more on the financials. And also, we will have some words on sustainability, and we will end the session with a question-and-answer session
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