Mycronic Reports 40% Increase in Q3 Sales
TÄBY, SWEDEN – Mycronic announced net sales of SEK1.8 billion ($170 million) for the third quarter, up 40% from the same quarter last year.
For the first nine months of the year, the company's sales increased 34% year-over-year to SEK5 billion ($473 million).
"Order intake was basically flat in the third quarter, with decreases in Pattern Generators and High Flex compensated by increases in High Volume and Global Technologies," said CEO Anders Lindqvist. "Net sales increased 40%, driven mainly by Pattern Generators, but with High Volume and Global Technologies also supporting the positive development. EBIT more than doubled to SEK 547 million, corresponding to an EBIT margin of 31%. I am pleased to note that EBIT of SEK1,494 million for the first nine months comfortably exceeds the full year result of SEK 1,235 million for 2023, which in turn was our strongest full year result ever."
The company expects sales of SEK6.5 billion ($615 million) for 2024.
