LUXEMBOURG – Exceet Group reported first quarter sales of EUR 38 million ($46 million), up 7.4% year-over-year and 9.7% sequentially.

EBITDA for the quarter was EUR 3.1 million, up 62.9% compared to the first quarter of 2017 and 107.3% sequentially.

Exceet's order backlog increased to EUR 113 million, after having exceeded the EUR 100 million mark at the end of 2017.

Electronic Components, Modules & Systems (ECMS), which accounts for 93.9% of group sales, increased its external net sales 8.6% to EUR 35.7 million during the first quarter. EBITDA for the segment was EUR 4.1 million, up 28% year-over-year.

During the period, new projects and higher order volumes by existing customers contributed to growth. In addition, sales picked up in Ebbs, Austria. Increasing demand for the company’s wafer backend solution was an additional benefit.

The group's high-end PCB business, focusing on miniaturized applications for the medical industry, started into 2018 on a stable level. The ongoing development of the semi-additive process looks promising and will continue this year, the firm says.

Exceet develops and manufactures complex embedded electronic products.

Ed.: EUR 1 = US$1.21