German chip equipment manufacturer SUSS lowered its expectations again, blaming export control policies towards China
SUSS MicroTec, a German provider of lithography solutions and wafer bonding equipment, lowered its revenue forecast for the second time in three months, accusing the government of tightening export controls on China, causing its stock price to drop by 11%.
SUSS MicroTec stated that goods worth 23.5 million euros ($24.86 million) were detained at customs, and added that although the rules have not changed, since August, customs seem to have significantly strengthened inspections of goods destined for China.
In July of this year, the government urged German companies to reduce their dependence on Chinese demand as part of a "risk reduction" strategy.
This uncertainty means that it is impossible to predict how many devices will be delivered by the end of the year. SUSS MicroTec stated that the affected products are particularly profitable.
SUSS MicroTec expects its revenue to be between 300 million to 340 million euros this year, compared to 299.1 million euros last year, a growth rate smaller than their previous expectations. The company has lowered its expected pre interest and tax profit margin from 9% -11% to 4% -8%.
In July of this year, the government urged German companies to reduce their dependence on Chinese demand as part of a "risk reduction" strategy.
This uncertainty means that it is impossible to predict how many devices will be delivered by the end of the year. SUSS MicroTec stated that the affected products are particularly profitable.
SUSS MicroTec expects its revenue to be between 300 million to 340 million euros this year, compared to 299.1 million euros last year, a growth rate smaller than their previous expectations. The company has lowered its expected pre interest and tax profit margin from 9% -11% to 4% -8%.