Mycronic Ab (publ) Stock Earnings Reports

Mycronic reported an exceptionally strong Q2 with record order intake (up 119%) of SEK 2.9bn, high sales of SEK 2.4bn, a gross margin of 57% and EBIT ~SEK 700m (29%). Backlog rose to SEK 5.25bn. Division highlights: Pattern Generators delivered strong margins (72%) and high EBIT margin (53%) supported by several SLX/Prexision system deliveries and one large customized SLX order; PCB Assembly Solutions had record order intake (SEK 444m) but remains loss-making and is undergoing a restructuring (one-off costs reported SEK 39m in Q2; total restructuring program ~SEK 100m) to restore ~10% EBIT at current volumes; High Volume showed very strong demand (order intake ~SEK 700m) driven by consumer electronics and nascent AI-related applications, with EBIT margin ~13% (including ESOP costs); Global Technologies was the primary profit driver with order intake >SEK 1.1bn and very strong margins (36% in the quarter). Management raised full-year revenue outlook by SEK 0.5bn to SEK 9.25bn, citing strong demand in High Volume and Global Technologies plus favorable currency effects. Operational items: PCB test capacity expansion (about +25%) is planned to come online end of year to improve delivery lead times (currently >1.5 years for some products); group net cash ~SEK 2.3bn and aftermarket revenue hit SEK 2bn on a rolling 12-month basis (24% of sales). Sustainability efforts include shifting from air to sea freight to reduce transport emissions. Management signalled continued investment in R&D (especially Pattern Generators, High Volume and Global Technologies) and selective M&A, while prioritizing delivery performance and margin recovery in weaker segments.