• Net result of EUR -0.3 million (after taxes)
• Cash flow from operating activities of EUR 1.5 million
RoodMicrotec N.V., a leading independent company for semiconductors supply and quality services, today published the Company’s Annual Report for the financial year 2020 including the audited financial statements.
The complete 2020 Annual Report, which is available in English and only as an electronic version, is available on the corporate website: www.roodmicrotec.com/….
The total income for 2020 amounted to EUR 11.9 million, which was 10% lower than in 2019 but includes a substantial increase in the second half of 2020 (EUR 6.5 million) compared to the first half of 2020 (EUR 5.4 million). The net result after taxes for 2020 was EUR 0.3 million negative, mainly due to the COVID-19 impact in the second quarter. The second half of 2020 showed a net profit after taxes of EUR 0.5 million, which was due to the increase in total revenue together with tight cost control throughout the year.
The Qualification & Failure Analysis unit showed an increase compared to 2019, thanks to well established relationships with long-term customers. The Test Operations and Supply Chain Management units showed a decrease compared to 2019. This is mainly because of the COVID-19 situation with quite some logistic challenges and the reduced demand due to the lock-downs and inventory management. Due to the unclear market situation, many customers reduced their demand as well as their inventories and thus did not order new components. This drop was mainly seen in the second quarter of 2020 and significantly improved in the second half of the year.
“We were expecting and budgeted a continuing increase in total income and net profit in 2020, but the COVID-19 pandemic significantly affected us. We continued to serve our customers with our usual high quality, but saw a reduced demand in our test operations and supply chain management due to changes in inventory management by our customers”, says Martin Sallenhag, CEO of RoodMicrotec. “Even with an investment in a new test system early in the year, the cash situation at the end of the year 2020 improved by EUR 0.4 million to EUR 1.4 million compared to the end of 2019.“
The global outbreak of the COVID-19 pandemic in the beginning of 2020 and the uncertain situation since then have made it important for us to protect our partners, employees, customers and suppliers. We are continuing to closely monitor the situation and are taking steps to help to prevent the spread of the virus. We are also taking extensive measures to be able to maintain a permanent outstanding level of service as well as unimpaired business relationships with our customers and suppliers. RoodMicrotec’s facilities have been carrying out normal operations during the whole year to support our customers.
Please find more information in the attached file!
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