SUSS MicroTec cuts 2026 revenue guidance to €405-425 million, closes its Garching plant and falls 10%
SUSS MicroTec cut its 2026 revenue and margin guidance the same morning its order book hit a record, and the stock fell to its lowest since March. This is an execution bill coming due, not a demand problem, and November 5 is the first audit.
Vincent Jiang · 2 min read
At 08:57 CET on October 27, 2026, SUSS MicroTec+5.46% — SUSS MicroTec, up 5.46 percent today filed a compulsory ad-hoc disclosure: the German maker of lithography mask aligners and wafer-processing tools that feed advanced packaging for AI chips is shutting down production at Garching, its home site near Munich, and cutting its year-end numbers with it 1. By late morning the stock sat at €46.95, down 10.23% from the previous Xetra close of €52.30, its lowest since March, about 60% below its €118.40 52-week high 3.
The stock sits 60% below its 52-week high after the 10% fall
Data
| Share price | |
|---|---|
| Now (Oct 27) | €46.95 |
| Previous close | €52.3 |
| 52-week high | €118.4 |
The orders are fine. The factory is the problem
Here is the twist the market is pricing: nothing is wrong with demand. Third-quarter order intake stayed at a high level and the order book reached a new record 2. The backlog already stood at €473.70 million on August 6 3. What changed is SUSS's ability to convert that book into booked revenue this year. Guidance now runs €405–425 million in revenue and a 5–7% EBIT margin, down from €425–485 million and 8–10%; gross margin guidance of 35–37% is untouched 12. Supply constraints on certain components are pushing sales into 2027 1.
2026 revenue guidance cut to €405-425 million from €425-485 million
- From
- To
Data
| From | To | Change | |
|---|---|---|---|
| Cut guidance | €405M | €425M | +4.9% |
| Former guidance | €425M | €485M | +14.1% |
Workers and shareholders pay now
Mask aligner production moves gradually to Zhubei, Taiwan; module manufacturing concentrates in Sternenfels, Germany; roughly 70 Garching employees are affected 12. The bill: about €6.2 million in one-offs, €4.5 million this year 1. Management frames the move as scale and proximity to Asian customers, and keeps R&D and headquarters in Germany, with a new Karlsruhe center under construction 2. Earlier coverage traced the same tension between a record backlog and slow revenue conversion 5; what is new today is the guidance cut and the factory decision itself.
The cross-examination
Jefferies kept its Buy and €109 target, calling the reduced targets disappointing but order trends positive and the stock attractively valued, with the open question being how much deferred revenue SUSS actually recovers in 2027 4. The quarterly statement for the September quarter lands on November 5 23. If the record book survives that print, the cut was a timing bill. If it shrinks, this was a factory move dressed as an optimization.
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