Mycronic Ab · OMXSTO:MYCR
Mycronic Ab — Q3 2025 Earnings Presentation
29 slides from Mycronic Ab's earnings presentation, Oct 23, 2025
Slide 1: Third quarter 2025
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Slide 2: President and CEO
President and CEO Anders Lindqvist 2
Slide 3: Agenda
Agenda • Q3 in short • Divisional development • Financials • Sustainability • Q&A • Appendix – Market update 3
Slide 4: Q3 in short
Q3 in short Strong and broad-based order intake • Order intake increased 67% to SEK 2,431 (1,459) million • Driven by Pattern Generators and Global Technologies • High Volume and PCB Assembly Solutions also showed growth • Net sales declined 4% to SEK 1,709 (1,780) million • Explained by lower net s
Slide 5: Pattern Generators
Pattern Generators Share of Group’s net sales Net sales SEK 485 M EBIT SEK 161 M Strong order intake 28% Order intake SEK 789 M EBIT margin 33% • An agreement was signed to acquire South Korean company Cowin DST • Pending regulatory approval in South Korea • Order intake increased 188% to SEK 789 (2
Slide 6: PCB Assembly Solutions
PCB Assembly Solutions Production sucessfully relocated • The US market improved during the third quarter, whereas the European market remained weak • Several large full-line orders were received in both Europe, the US and Asia • Production successfully relocated from the current premises in Täby to
Slide 7: High Volume
High Volume Healthy net sales • Demand from the Chinese consumer electronics industry weakened somewhat, as customers front- loaded their investments to the first half of the year • Markets outside China, such as South Korea and Southeast Asia, showed a positive development • Order intake increased
Slide 8: Global Technologies
Global Technologies Stellar overall development • Order intake increased 94% to SEK 797 (411) million • Net sales increased 47% to SEK 416 (284) million • Acquired companies (Hprobe, RoBAT and Surfx) contributed SEK 112 million • Gross margin increased to 52 (35)% • Explained by improvements in PCB
Slide 9: Outlook 2025 confirmed
Outlook 2025 confirmed Net sales 2025 SEK 7.5 billion 9
Slide 10: CFO and Sr VP Corporate Development
CFO and Sr VP Corporate Development Pierre Brorsson 10
Slide 11: Group net sales and EBIT margin per quarter
Group net sales and EBIT margin per quarter MSEK % 2500 40 35 • Net sales declined 4% vs Q3 2024, to SEK 1,709 million 2000 30 • Aftermarket revenue at SEK 469 million 25 1500 • EBIT margin at 15% 20 1000 15 10 500 5 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023 2024 2025 Aftermarket System EBIT margin 11
Slide 12: Group net sales and EBIT margin rolling 12 months
Group net sales and EBIT margin rolling 12 months MSEK % 9000 50 8000 45 • Net sales R12 amounted to SEK 7,976 million 7000 40 35 • EBIT margin R12 at 27% 6000 5000 30 • Aftermarket revenue R12 at SEK 1,981 million 25 4000 • 25% of net sales 20 3000 • Increasing quarter-on-quarter since Q1 2021 15
Slide 13: Group Q3 EBIT bridge
Group Q3 EBIT bridge MSEK -53% 547 -38 -115 -58 -43 -35 255 -3 EBIT Q3 Volume Gross R&D M&S G&A Other EBIT Q3 2024 effect margin 2025 effect % of Sales 2024 31% 54% -10% -8% -4% 0% % of Sales 2025 47% -14% -11% -7% 0% 15% 13
Slide 14: Divisional Q3 EBIT contribution
Divisional Q3 EBIT contribution MSEK 31% 547 15% 28 255 31 -4 -337 -11 Q3 2024 Pattern Generators PCB AS High Volume Global Technologies Group functions Q3 2025 14
Slide 15: Cash flow impacted by acquisitions, dividends and working capital
Cash flow impacted by acquisitions, dividends and working capital MSEK YTD 2025 YTD 2024 Cash flow from operations • Solid cash flow from operations before change in working capital 1,565 1,617 • Increase in working capital primarily driven by lower Change in working capital -585 -400 advance paymen
Slide 16: President and CEO
President and CEO Anders Lindqvist 16
Slide 17: Sustainability
Sustainability • Efforts continued to strengthen processes and tools for due diligence in the supply chain • An analysis shows that 95% of high-risk suppliers and 60% of all direct material suppliers have signed Mycronic’s Code of Conduct, a clear improvement compared to 2024, when the corresponding
Slide 18: Q&A
Q&A 18
Slide 19: APPENDIX
APPENDIX Q3 2025 Market update
Slide 20: Outcome 2024
Outcome 2024 Market summary and updates • Global electronics industry 5.0% to 2,554 BnUSD1) • Semiconductors 19.2% to 628 BnUSD1) • Optical components 39.3% to 16.6 BnUSD3) • PCBs 5.8% to 73.6 BnUSD4 • Display market 14.0% to 135 BnUSD5) • Display photomasks 1.4% to 915 MUSD6) • Semiconductor photom
Slide 21: Forecasts 2025
Forecasts 2025 Market summary and updates • Global electronics industry 7.9% to reach 2,756 BnUSD1) • Semiconductor industry 13.1% to reach 710 BnUSD1) • Optical components 20.8% to reach 20.1 BnUSD2) • PCBs 12.8% to reach 83.0 BnUSD3) • Displays 3.2% to 139 BnUSD4) • Display photomasks 4.9% to 959
Slide 22: Electronics industry systems
Electronics industry systems Yearly development by industry segment • Growth of 7.9% forecast for 2025, to reach USD billion 2,756 BnUSD, with strongest development in 3 500 • Computers 19.0% • Aerospace/Defense 8.0% 3 000 • Medical 5.6% 2 500 • Industrial 4.9% • Growth of 5.9% forecast for 2026, to
Slide 23: Semiconductors
Semiconductors Quarterly development USD billion 250 • Estimated 19.2% growth in 2024 to 225 reach 628 BnUSD 200 • Forecast 13.1% growth in 2025 to reach 710 BnUSD 175 150 • 2024 to 2029 CAGR growth forecast at 8.3% to reach 934 BnUSD 125 100 75 50 25 0 2020 2021 2022 2023 2024 2025F 2026F 2027F 202
Slide 24: SMT and Dispensing
SMT and Dispensing Market update SMT assembly equipment* • The SMT assembly equipment market declined 7.7% in 2024 to USD 2,077 million1) • During the first two quarters, the market increased 12.4% compared with the corresponding period in 2024. Markets in Southeast Asia and China showed growth whil
Slide 25: Optical components for data/telecom
Optical components for data/telecom Long-term growth in key die bonding market driven by mega trends Optical components for data/telecom (BUSD) Healthy data/telecom long-term growth 43.9 • Optical components production is the main 16.9% 39.5 driver for die/lens attach and other adjacent processes 33
Slide 26: Pattern Generators
Pattern Generators Display panel market, stable growth expected BUSD Display panel revenue BUSD OLED display panel revenue 250 100 4.8% 200 2.4% 80 66 68 151 152 64 139 144 148 56 59 150 135 60 54 118 43 100 40 50 20 0 0 2023 2024 2025F 2026F 2027F 2028F 2029F 2023 2024 2025F 2026F 2027F 2028F 2029F
Slide 27: Pattern Generators
Pattern Generators Photomask market continued to develop positively in 2024 Billion Japanese Yen Thousands of square meters Mask Revenue Mask Area 200 30 2.1% 1.8% 25 150 20 100 15 10 50 5 0 0 2023 2024 2025F 2026F 2027F 2028F 2029F 2023 2024 2025F 2026F 2027F 2028F 2029F • The market continued to g
Slide 28: Pattern Generators
Pattern Generators Increasing photomask demand for OLED displays - 2024 expected to be another positive year Thousands of square meters Mask Area OLED 10 • OLED development for mobile, IT and TV displays drives demand 4.3% 9 for OLED photomasks 8 • The transition to OLED will continue, forecast area
Slide 29: Bringing tomorrow’s electronics to life
Bringing tomorrow’s electronics to life MYCRONIC