LPKF Laser & Electronics SE — Interim / Quarterly Report 2018

May 15, 2018

Quarterly Financial Report

1 January - 31 March 2018

			LPKF Laser & Electronics AG at a glance	3
			Chairman's Statement	4
			Interim Management Report as of 31 March 2018	7
1			Basic information on the Group	7
2	Report on economic position			7
	2.1		Net assets, financial position and results of operations of the Group7
		2.1.1	Results of operations7
		2.1.2 2.1.3	Financial position8 Net assets8
		2.1.4	Segment performance9
	2.2		Employees9
	2.3		Overall assessment of the Group's economic situation9
3			Report on post-balance sheet date events	10
4			Opportunities and risks	10
5			Report on expected developments	10
	5.1		Management's assessment of the Group's expected development10
		5.1.1 5.1.2	Group performance10 Key financial indicators10
			Consolidated financial statements	12
Financial calendar 19
	Publishing		information	19

LPKF Laser & Electronics AG at a glance

Key Group figures after 3 months 2018

	3 months 2018	3 months 2017
Revenue (EUR million)	19.7	24.5
EBIT (EUR million)	-2.3	0.1
EBIT margin (%)	-11.7	0.6
EPS, diluted (EUR)	-0.10	0.00
Incoming orders (EUR million)	29.0	29.2

	As of 31 March 2018	As of 31 March 2017
Free cash flow (EUR million)	-4.2	1.0
Net working capital (EUR million)	37.2	35.4
ROCE (%)	-2.3	0.1
Cash and cash equivalents (EUR million)	-8.9	-2.3
Equity ratio (%)	43.8	45.6
Orders on hand (EUR million)	47.9	32.4
Employees	680	690

Segments and markets

Chairman's Statement

Garbsen, May 15th, 2018

Ladies and gentlemen,

On the date this Quarterly Report is published, I will have been in office as CEO of LPKF Laser & Electronics AG for exactly two weeks. As a physicist and as a manager, I have been looking forward to this role, and the challenges that go with it, since my appointment was announced in mid-March. I regard LPKF as a technology company with extraordinary potential: from the technologies we have mastered; from our ability to integrate them into high performing machines; from the extraordinary know-how of our employees; and from the resulting value contribution for our clients in a broad spectrum of applications, industrial segments, and markets. Along the same line, my takeaway from initial discussions with our customers and partners is that LPKF's degree of influence on technical progress in a number of high tech areas is well in excess of our company size. Together with our employees, it is now my task to ensure that we realize this potential in full.

When I spoke with our employees on my first day at the beginning of May, I mentioned that I would like us to act more like an agile technology start-up once again. I believe that this will allow us to act faster and more effectively as a company, both within LPKF and in collaborating with our customers. It also allows us to better leverage the enthusiasm for the company and for our products which I have already witnessed during the first few days. My impression is that this perspective was received well; that said, implementing the changes that go with it is a process which I expect will take some time.

In addition, I spoke about three topics on that day: first, I want all of us to act in concert as one LPKF going forward. Given that we are a company with four business units, four production sites and four overseas sales companies, this is not necessarily the case by default, and doing so consistently will require greater transparency throughout the company. That said, we can then better leverage our total experience in the different industries, various global markets, production technologies and applications we are active in. This applies equally throughout the company, whether in sales, research & development, production or our central functions.

Second, I want us to even better understand the economic and industrial logic which drive our customers' business. Our machines often perform process steps which are decisive for the unit cost, performance, or design of our customers' products. Our specific value contribution is not least the fact that we have a detailed understanding of the parameters which determine our customers' economic success; address these parameters directly with our machines; and communicate this

accordingly. Considering the number of different industries and markets which our customers are active in, this is not trivial. It implies that we endeavor to understand our customers' markets in some detail: whether in the semiconductor, consumer electronics, automotive or other industries; whether for microelectronics, glass, plastics, MEMS or completely new applications.

Third, I want to further improve our economics, in terms of our cost structure as well as our balance sheet – this is anyway necessary given our current situation. Accordingly, the Management Board will develop a corresponding plan promptly. In doing so, we intend to focus on measures that strengthen our capabilities – in terms of our technology as well as with respect to our customers – and that don't constrain our future growth. We will also ensure that there is no negative impact on our ability to make investments for the commercialization of our next generation technologies.

Once we address these topics, take care of our homework on the cost and asset side, and successfully leverage our technologies and our employees' knowledge to help shape our customers' future, we will once again become a sustainably profitable, leading high tech company. I am looking forward to that.

In the first quarter of the current financial year, the LPKF Group's revenue has reached € 19.7 million which was 20 % below the prior year's first quarter figure of € 24.5 million. While revenue in the Solar segment was 80 % higher than in the prior year, revenue in the other segments has declined.

Incoming orders and orders on hands show a more positive development: At € 29.0 million, incoming orders were at the prior year's level; orders on hand as of 31 March 2018 were € 47.9 million, or 48% above the prior year's level.

Our first quarter revenue was too low to generate positive EBIT: There were losses (EBIT) of € 2.3 million for the quarter, compared to earnings (EBIT) of € 0.1 million in the prior year's first quarter, which had higher revenue.

It is worth noting that LPKF's revenue in the first quarter is often weaker; for the first quarter of 2018, comparatively lower incoming orders during the fourth quarter of 2017 were an early indication. That said, and based on incoming orders and orders on hand which by now are already higher, I anticipate that our business for the year 2018 will develop in line with the forecast communicated by the Management Board in January.

With the background of the past years in mind, our first quarter results mean that the goal of restoring LPKF to sustainable profitability has not yet been achieved. The Management Board will adjust the strategy for LPKF in such a manner that we will achieve this goal at the earliest possible point, and at the same time further accelerate our longer-term growth, particularly using our new technologies.

In our new technologies, there has been a successful development: I am happy to report that we have received an order for a Vitrion system from a customer in the semiconductor industry for an advanced packaging application in early May. By using LIDE, a technology developed by LPKF, our customer intends to gain sustained competitive advantage for his products.

With LIDE, LPKF is launching a completely new basic technology for the microsystems industry. With the LIDE process, electronics manufacturers can process ultra-thin glass into complex structures for mass production both economically and with high precision. This represents a significant technological step change: it paves the way for the use of glass in a variety of new applications, e.g., in chip manufacturing, display manufacturing, MEMS technology, or microfluidics. Some of these applications involve replacing systems or components previously manufactured with a silicon substrate (the focus here is often on cost reduction); others are completely new applications which are enabled for the first time (the focus here is on technical performance as well as the cost effectiveness of our machines). In each case, market potential is high, both in segments we have already had customers in for some time and those which are new to LPKF. New technologies such as our LIDE process are a significant driver of growth in revenue, ROCE, and EBIT over the coming years for LPKF.

I would like to take this opportunity to thank my colleagues on the Management Board Kai Bentz, Bernd Lange and Christian Bieniek for warmly welcoming me on the Board, for their open and clear communication with me even before I took office, and for their close cooperation from Day One. During 2018, the Management Board will be reduced in size from four people to two people. Mr. Bentz will continue to serve as CFO until the end of the year; the search for his successor has already begun.

I would also like to thank the Supervisory Board – both for the confidence they have placed in me to play a decisive role in shaping LPKF's future, and for their close cooperation with me in tackling the challenges we are facing.

I look forward to our Annual General Meeting on 31 May at HCC Hannover.

Best regards,

Goetz M. Bendele Chief Executive Officer

Interim Management Report as of 31 March 2018

1 Basic information on the Group

The basic information on the LPKF Group in the combined management report for 2017 continues to apply unchanged.

2 Report on economic position

2.1 Net assets, financial position and results of operations of the Group

2.1.1 Results of operations

In the first quarter, the LPKF Group's revenue amounted to EUR 19.7 million, down 20% on the previous year's figure of EUR 24.5 million. In the Solar segment, revenue was up 80% year-on-year due to another delivery from the large-scale order. The other segments recorded declines in revenue. The Welding segment declined by 50.7% as against the first quarter of 2017, while the Electronics segment recorded a decrease of 47% and the Development segment's revenue was down 12% year-on-year. As a result of various factors (industry cycles, Chinese New Year), the first quarter at LPKF is often weaker than the following quarters. The seasonally adjusted planning figures for the current financial year were achieved.

Compared to the revenue development, the development of incoming orders presents a more positive picture. Overall, the incoming orders of EUR 29.0 million almost matched the previous year's figure of EUR 29.2 million. Within the segments, there is a mixed picture. As expected, the Solar segment could not match the previous year's very high figure of EUR 9.2 million, but it still achieved a good figure of EUR 4.8 million. The Welding segment exceeded the previous year's figure of EUR 5.3 million by 41% and achieved incoming orders of EUR 7.4 million. With incoming orders of EUR 12.4 million, the Electronics segment was up 35% on the previous year's figure of EUR 9.2 million. Only the Development segment was down year-on-year by 21%. Orders on hand totaled EUR 47.9 million as of March 31, 2018 (up 48% year-on-year). The book-to-bill ratio (incoming orders/revenue) at Group level is currently 1.5.

Revenue after three months is too low to be able to generate positive EBIT. In the first quarter of 2018, there was a loss (EBIT) of EUR 2.3 million. In the same period of the previous year, slightly positive earnings of EUR 0.1 million were generated with revenue of EUR 24.5 million.

Own work capitalized in the reporting period includes development costs of EUR 0.8 million (previous year: EUR 0.9 million). Within other operating income, development grants increased by EUR 0.2 million but were offset by decreasing income from the reversal of provisions and write-downs, with the effect that this item remained at the previous year's level overall.

The material cost ratio increased from 34% in the previous year to 37%. This key figure is negatively impacted by the comparatively high changes in inventories of finished products. The increase is also attributable to the current product mix. The cost of materials for the current year includes writedowns of inventories and scrappage in the amount of EUR 0.1 million (previous year: EUR 0.2 million).

Compared to March 31, 2017, the Group's workforce decreased by 10 employees to 680. Staff costs were up slightly on the previous year's level (EUR 10.5 million) at EUR 10.8 million in the period under review.

Depreciation and amortization was up 3% year-on-year at EUR 1.9 million in the first quarter of 2018. Amortization of capitalized development costs accounted for EUR 0.9 million of this figure.

Other operating expenses fell from EUR 6.0 million in the previous year to EUR 4.9 million (down 19%). This positive development is due chiefly to lower selling expenses (EUR -0.7 million) and warranty expenses (EUR -0.2 million) and lower development costs (EUR -0.1 million).

The sustained high level of net debt and higher interest rates meant that interest expenses were on a par with the previous year at EUR 0.2 million.

The Group recorded a consolidated net loss of EUR 2.2 million after interest and taxes, a deterioration of EUR 2.2 million compared with the same period of the previous year (EUR 0.0 million).

2.1.2 Financial position

The Group's cash and cash equivalents decreased from EUR -4.0 million to EUR -8.9 million in the period under review. The negative EBIT and the increase in inventories due to reporting date effects resulted in a negative cash flow from operating activities of EUR 3.1 million. Although investing activities were low at EUR 1.1 million, there was a negative free cash flow of EUR 4.2 million. Scheduled repayments and the redemption of short-term loans resulted in a negative cash flow from financing activities of EUR 0.8 million. Taking currency-related changes into account, this ultimately led to a total reduction in cash and cash equivalents of EUR 5.0 million.

The Group's financial position remains stable. Future financial requirements can be covered by sufficient available credit facilities and liquidity at subsidiaries.

2.1.3 Net assets

Analysis of net assets and capital structure

Primarily due to the consolidated net loss in the period under review, the equity ratio fell from 46.5% at the end of 2017 to 43.8%.

Non-current assets did not change in the first three months of the year. This was mainly attributable to depreciation of property, plant and equipment in the amount of EUR 1.0 million, which was not offset by additions to property, plant and equipment of EUR 0.2 million. In addition, deferred taxes climbed by EUR 0.9 million.

Current assets rose by a total of EUR 1.7 million compared with the end of the previous year. Inventories increased by EUR 5.2 million, primarily due to the large-scale order in the Solar segment but also as a result of increasing orders in the Welding segment. Trade receivables fell by EUR 1.6 million and other assets decreased by EUR 1.2 million, chiefly due to the payment of the insurance claim. Cash and cash equivalents fell by EUR 0.9 million.

Compared to the end of 2017, net working capital increased by 5.2% to EUR 37.2 million. The main factors driving this development were the rise in inventories and a slight decrease in payments received on account of orders. The decline in trade receivables slightly curbed the increase in working capital. At 38%, the net working capital ratio is now well outside the new target corridor of up to 33%. This indicator is expected to improve in the further course of the year.

The consolidated net loss of EUR 2.2 million was the main reason for the decline in equity. In addition, there were currency-related consolidation effects of EUR -1.0 million. Non-current liabilities declined by EUR 0.2 million, largely due to scheduled repayments of long-term loans. By contrast, current liabilities rose by EUR 4.2 million due to the increase in current liabilities to banks.

With these exceptions, there has been no substantial change in the structure of the statement of financial position.

Capital expenditures

The Group made only limited capital expenditures in the first three months. Other than additions to capitalized development costs in the amount of EUR 0.8 million, the only additions related to EUR 0.2 million in property, plant and equipment and other intangible assets.

2.1.4 Segment performance

The following table provides an overview of the operating segments' performance:

	External revenue		Operating result (EBIT)
EUR thsd.	3 months 2018	3 months 2017	3 months 2018	3 months 2017
EQ	4,866	9,127	-500	-18
DQ	5,012	5,716	407	939
WQ	2,873	5,828	-1,912	245
SQ	6,970	3,869	855	86
Other	0	0	-1,161	-1,108
Total	19,721	24,540	-2,311	144

The operating result (EBIT) of the segments contains the operating activities of the business units and the attributable intragroup allocations. EBIT in the Other segment contains non-operating components, in particular Group management functions and exchange rate changes. The operating loss in the Welding segment is due chiefly to the low revenue in the first quarter.

2.2 Employees

The following table shows the development in employee numbers in the first three months of 2018:

Area	As of 31 March 2018	As of 31 Dec. 2017
Production	167	163
Development	124	120
Administration	150	155
Sales	95	97
Service	144	148
Total	680	683

The total number of employees as of 31 March 2018, was 642 full-time equivalents (FTEs).

There were also 8 workers in marginal employment, 32 trainees, and 10 students and interns as of 31 March 2018.

2.3 Overall assessment of the Group's economic situation

In 2017, the Group generated positive EBIT again for the first time since 2014, partly as a result of the restructuring measures initiated in 2016.

The Group achieved incoming orders of EUR 29 million in the first three months of 2018 and has a good starting situation for the months ahead with orders on hand of EUR 48 million. The earnings situation and the development of free cash flow were impacted by weak revenue in the period under review, but considerably better results are expected for both key figures in the following quarters.

Capacity utilization developed positively as of the end of the quarter, as is also reflected in working capital. Once the revenue for the projects commissioned in the first and second quarters has been generated, an improvement in the financial situation is then also expected.

3 Report on post-balance sheet date events

No significant events with a material effect on the net assets, financial position, and results of operations of LPKF have occurred since the reporting date on 31 December 2017.

On 27 April 2018, the Supervisory Board announced in an ad-hoc disclosure that the Management Board of LPKF Laser & Electronics AG will be reduced to the functions of CEO and CFO.

On 2 May 2018, CFO Kai Bentz informed the Supervisory Board that he would not be available to extend his term of office. Bentz will leave the company at the end of the year. The Supervisory Board has started to look for a successor.

4 Opportunities and risks

In the combined management report and Group management report for 2017, the opportunities and risks of the LPKF Group are presented and explained in detail in separate reports. These explanations continue to apply unchanged. Special focus remains on Group financing in particular.

5 Report on expected developments

5.1 Management's assessment of the Group's expected development

5.1.1 Group performance

With four segments, LPKF AG has a high degree of diversification that limits its dependence on individual markets.

In the current financial year, LPKF anticipates moderate growth for the Development segment and revenue at roughly the previous year's level for the Electronics segment.

In the Welding segment, the Group anticipates stronger growth in the medium term as a result of the market potential. Development in the Solar segment will be extremely positive in 2018, but the strong reliance on individual projects in this area means it is difficult to make forecasts for the period after 2019 in particular.

LPKF also expects the new technologies of laser induced deep etching (LIDE) and laser transfer printing (LTP) to provide stimulus for growth over the coming years. LIDE is particularly suitable for precision drilling in extremely thin glass (Through Glass Vias/TGV). LTP offers a new alternative to widespread screen printing and will be used for the digital printing of pastes.

5.1.2 Key financial indicators

At EUR 19.7 million, revenue in the period under review was below the previous year's level of EUR 24.5 million. EBIT amounted to EUR -2.3 million after three months and was thus down year-onyear. The EBIT margin came to -11.7% (previous year: 0.6%). As a result, the new key financial

indicator ROCE also came to just -2.3%, after 0.1% in the previous year. Net working capital climbed to EUR 37.2 million (end of 2017: EUR 33.3 million), while the net working capital ratio fell from 32.6% in 2017 to 38.4% (calculated based on the past four quarters).

Forecast for 2018

Provided the global economy remains stable, the Management Board anticipates consolidated revenue of between EUR 103 million and EUR 108 million and a return on capital employed (ROCE) between 2% and 7% in 2018. An EBIT margin of up to 6% is thus predicted. This results in planning for EBIT of up to EUR 6.5 million in 2018.

The net working capital ratio is expected to fall below 33%, which corresponds to net working capital of less than EUR 34 million for the forecast period. This would be on the same level as the previous year. Regarding the error rate, LPKF expects it to improve slightly.

Forecast up to 2020

LPKF aims to generate a ROCE of between 10% and 15% by 2020. This improvement is expected to result from a growing business, particularly in light of new products and an optimized fixed cost base.

Consolidated financial statements

Consolidated statement of financial position as of 31 March 2018

Assets
EUR thsd.	31 March 2018	31 Dec. 2017
Non-current assets
Intangible assets
Goodwill	74	74
Development costs	13,404	13,541
Other intangible assets	1,740	1,826
	15,218	15,441
Property, plant and equipment
Land, similar rights and buildings	38,395	38,642
Plant and machinery	3,598	3,859
Other equipment, operating and office equipment	3,801	3,955
Advances paid and construction in progress	0	0
	45,794	46,456
Receivables and other assets
Trade receivables	126	107
Other assets	67	124
	193	231
Deferred taxes	2,607	1,731
	63,812	63,859
Current assets
Inventories
(System) parts	16,186	13,617
Work in progress	5,856	3,625
Finished products and goods	8,386	8,086
Advances paid	289	200
	30,717	25,528
Receivables and other assets
Trade receivables	17,797	19,401
Income tax receivables	363	198
Other assets	3,058	4,236
	21,218	23,835
Cash and cash equivalents	2,435	3,345
	54,370	52,708
	118,182	116,567

Consolidated statement of financial position as of 31 March 2018

EUR thsd.	31 March 2018	31 Dec. 2017
Equity
Subscribed capital	22,270	22,270
Capital reserves	1,489	1,489
Other retained earnings	10,932	10,942
Share-based payment reserve	490	490
Currency translation reserve	117	338
Net retained profits	16,497	18,703
	51,795	54,232
Non-current liabilities
Provisions for pensions and similar obligations	302	329
Other provisions	0	0
Non-current liabilities to banks	19,395	20,045
Deferred income from grants	614	627
Deferred taxes	1,063	568
	21,374	21,569
Current liabilities
Tax provisions	15	0
Other provisions	3,754	3,707
Current liabilities to banks	24,941	20,952
Trade payables	3,136	3,227
Other liabilities	13,167	12,880
	45,013	40,766
	118,182	116,567

Consolidated income statement from 1 January to 31 March 2018

EUR thsd.	01-03 / 2018	01-03 / 2017
Revenue	19,721	24,540
Changes in inventories of finished goods and work in progress	2,484	1,354
Other own work capitalized	809	932
Other operating income	625	639
Cost of materials	8,293	8,911
Staff costs	10,801	10,547
Depreciation and amortization	1,914	1,861
Other operating expenses	4,942	6,002
Operating result	-2,311	144
Finance income	1	1
Finance costs	189	187
Earnings before tax	-2,499	-42
Income taxes	-292	-10
Consolidated net profit/loss	-2,207	-32
Earnings per share (basic, EUR)	-0.10	0.00
Earnings per share (diluted, EUR)	-0.10	0.00
Weighted average number of shares outstanding (basic, EUR)	22,269,588	22,269,588
Weighted average number of shares outstanding (diluted, EUR)	22,269,588	22,269,588

Consolidated statement of comprehensive income from 1 January to 31 March 2018

EUR thsd.	01-03 / 2018	01-03 / 2017
Consolidated net profit/loss	-2,207	-32
Revaluations (mainly actuarial gains and losses)	0	0
Deferred taxes	0	0
Sum total of changes which will not be reclassified to the income statement in the future	0	0
Fair value changes from cash flow hedges	0	0
Currency translation differences	-962	-877
Deferred taxes	0	0
Sum total of changes which will be reclassified to the income statement in the future if certain conditions are met	-962	-877
Other comprehensive income after taxes	-962	-877
Total comprehensive income	-3,169	-909

Consolidated statement of changes in equity as of 31 March 2018

EUR thsd.	Subscribed capital	Capital reserve	Other retained earnings	ment Share-based pay reserve	Currency translation reserve	Net retained profits	Total Equity
Balance on 01 Jan. 2018	22,270	1,489	10,942	490	338	18,703	54,232
Consolidated total comprehensive income
Consolidated net profit/loss	0	0	0	0	0	-2,207	-2,207
Currency translation differences	0	0	0	0	-962	0	-962
Consolidated total comprehensive income	0	0	0	0	-962	-2,207	-3,169
Balance on 31 March 2018	22,270	1,489	10,942	490	-624	16,496	51,063
Balance on 01 Jan. 2017	22,270	1,489	10,933	490	1,595	17,553	54,330
Consolidated total comprehensive income
Consolidated net profit/loss	0	0	0	0	0	-32	-32
Currency translation differences	0	0	0	0	-877	0	-877
Consolidated total comprehensive income	0	0	0	0	-877	-32	-909
Balance on 31 March 2017	22,270	1,489	10,933	490	718	17,521	53,421

Consolidated statement of cash flows as of 1 January to 31 March 2018

EUR thsd.	01-03 / 2018	01-03 / 2017
Operating activities
Consolidated net profit/loss	-2,207	-32
Income taxes	-292	-10
Interest expense	189	187
Interest income	-1	-1
Depreciation and amortization	1,914	1,861
Gains/losses from the disposal of non-current assets
including reclassification to current assets	2	65
Changes in inventories, receivables and other assets	-2,866	-3,097
Changes in provisions	19	343
Changes in liabilities and other equity and liabilities	457	2,737
Other non-cash expenses and income	-46	14
Interest received	1	1
Income taxes paid	-245	242
Cash flows from operating activities	-3,075	2,310
Investing activities
Investments in intangible assets	-848	-991
Investments in property, plant and equipment	-237	-556
Proceeds from disposal of non-current assets	1	271
Cash flows from investing activities	-1,084	-1,276
Cash flows from financing activities
Interest paid	-189	-187
Proceeds from borrowings	0	0
Cash repayments of borrowings	-643	-6,701
Cash flows from financing activities	-832	-6,888
Change in cash and cash equivalents
Change in cash and cash equivalents due to changes in
foreign exchange rates	97	-35
Change in cash and cash equivalents	-4,991	-5,854
Cash and cash equivalents on 01 Jan.	-4,012	3,581
Cash and cash equivalents on 31 March	-8,906	-2,309
Composition of cash and cash equivalents
Cash and cash equivalents	2,435	4,301
Overdrafts	-11,341	-6,610
Cash and cash equivalents on 31 March	-8,906	-2,309

Notes on the preparation of the quarterly financial report

This financial report as of 31 March 2018 complies in full with the rules set out in IAS 34. The interpretations of the International Financial Interpretations Committee (IFRIC) are observed. The figures of the previous period were calculated according to the same principles, provided that new standards did not require any changes. The same applies to the accounting and valuation methods and the calculation methods used in the interim financial statements. Standards to be applied in the current financial year have already been applied. Estimates of amounts reported in prior interim periods of the current financial year, the last annual financial statements or in previous financial years have not been changed in this financial report. There have been no significant changes to the contingent liabilities and contingent assets since the last balance sheet date. This financial report has not been audited. Likewise, it has not been subject to a review. Information relating to events of particular importance after the balance sheet date are included in the supplementary report of the interim management report.

Basis of consolidation

The scope of consolidation shown on page 83 of the Annual Report for 2017 remains unchanged.

Transactions with related parties

There are no reportable business relations with persons affiliated to the LPKF Group.

Management	31 March 2018	31 December 2017
Dr. Goetz M. Bendele (since 01 May 2018)	n/a	n/a
Bernd Lange	35,000	35,000
Kai Bentz	17,600	17,600
Dr.-Ing. Christian Bieniek	1,500	1,500
Supervisory Board
Dr. Heino Büsching	10,000	10,000
Dr. Markus Peters	0	0
Prof. Dr.-Ing. Erich Barke	2,000	2,000
Dr. Dirk Rothweiler	0	0

Shares held by members of the Company's corporate bodies

Garbsen, 14 May 2018

LPKF Laser & Electronics Aktiengesellschaft

The Management Board

Dr. Goetz M. Bendele Kai Bentz Bernd Lange Dr.-Ing. Christian Bieniek

Financial calendar

31 May 2018	Annual General Meeting 2018
15 August 2018	Publication of the six-months report
15 November 2018	Publication of the nine-months report

Publishing information

Published by	Investor Relations contact
LPKF Laser & Electronics AG Osteriede 7	LPKF Laser & Electronics AG
30827 Garbsen Germany Tel.: +49 5131 7095-0 Fax: +49 5131 7095-90 E-Mail: info@lpkf.com	Bettina Schäfer Osteriede 7 30827 Garbsen Germany Tel.: +49 5131 7095-1382 Fax: +49 5131 7095-9111 E-Mail: investorrelations@lpkf.com

Internet

For more information on LPKF Laser & Electronics AG and the addresses of our subsidiaries, please go to www.lpkf.com.This financial report can also be downloaded in pdf format from our website.

Disclaimer

This quarterly financial report contains forward-looking statements that are based on the Management Board's current estimates and forecasts and on information currently available. These forward-looking statements are not to be understood as guarantees of forecast future performance and results. Instead, future performance and results depend on a large number of risks and uncertainties and are based on assumptions that might not prove accurate. We disclaim any obligation to update these forward-looking statements.For mathematical reasons, rounding differences may occur in percentage figures and numbers in the tables, illustrations and texts of this report.

This quarterly financial report is published in German and English. In case of any discrepancies, the German version shall prevail.

LPKF Laser & Electronics AG

Osteriede 7 30827 Garbsen Germany

Tel:+49 5131 7095-0 Fax: +49 5131 7095-90

www.lpkf.com