Pfeiffer Vacuum Technology AG — Earnings Release 2001

Mar 19, 2002

News Details

Ad-hoc | 19 March 2002 08:14

Pfeiffer Vacuum english

2001 earnings release Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Pfeiffer Vacuum stands its ground in a difficult economic environment. Double digit profit margin. Once again high dividend distribution. New stock buyback program. Pfeiffer Vacuum, leading manufacturer of high quality vacuum pumps, measuring equipment and complex vacuum systems, announces the financial results for the year 2001. Sales decreased by 7.9 % from Euro 184.7 million to 170.1 million in 2001. The strategy of a balanced product/market portfolio proved to be effective: The drop in sales in USA – 50 % of the turnover there is made in the semiconductor industry – was nearly compensated by significantly increased sales in Germany, in particular to customers in the glass coating industry. In spite of smaller sales volume, Pfeiffer Vacuum not only maintained its gross margins, but actually increased them slightly compared with the year 2000. The selling and administrative expenses increased from Euro 34.9 million in the year 2000 to 36.1 million, primarily due to expenses in connection with new constructions and conversions at the site of the German corporate headquarters. The investments for R & D were increased again by 6 % in the year under review, compared with the previous year. The development of new products was pursued with priority, in order to be ready to meet market demands when the economic situation improves again. Operating profit dropped from Euro 35.5 million in 2000 to Euro 28.2 million in 2001. This results in an EBIT margin of 16.6 % of the sales (compared with 14.9 % in 1999 and 19.2 % in 2000). Higher interest earnings, skilful currency management and a significantly more favorable tax load ratio led to profits of Euro 18.9 Million after taxes, almost equal to the figure for the previous year (Euro 19.1 Million). Earnings per share are Euro 2.16 compared to Euro 2.24 in 2000. Dividend proposal: Euro 0.56 (2000: Euro 0.50). Furthermore, a resolution will be proposed to the stockholders for a new stock buyback program. These shares of stock can either be called in or used as acquisition currency. At today’s annual accounts press conference, Wolfgang Dondorf and CFO Wilfried Glaum will present an outlook on the current business year. They will also report on the status of the corporate activities in the field of coating of optical storage media. For full press release incl. financial tables see www.pfeiffer-vacuum.de. end of ad-hoc-announcement (c)DGAP 19.03.2002 ——————————————————————————– WKN: 691660; ISIN: DE0006916604; Index: NEMAX 50 Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, München, Hamburg, Hannover und Stuttgart 190814 Mär 02