Pfeiffer Vacuum Technology AG — Earnings Release 2003

May 6, 2003

News Details

Ad-hoc | 6 May 2003 08:32

Pfeiffer Vacuum english

Pfeiffer Vacuum Q 1 2003 results Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Pfeiffer Vacuum announces its results for the 1st quarter of 2003. Highlights at a glance: Q1 / 2003 Q1 / 2002 Change Sales Euro 35.1 million Euro 37.0 million – 5.0 % Operating profit (EBIT) Euro 3.4 million Euro 4.6 million – 25.5 % After-tax income Euro 2.7 million Euro 2.9 million – 7.3 % Earnings per share Euro 0.31 Euro 0.33 – 6.1 % New orders Euro 34.3 million Euro 35.4 million – 3.1 % Orders on hand Euro 20.2 million Euro 25.0 million – 19.2 % The global economy again remained sluggish during the 1st quarter of 2003. This also impacted the market for vacuum components and systems, with sales worldwide falling by Euro 1.9 million. The United States accounted for the lion’s share (Euro 1.8 million) of this decline, with the weak dollar playing a major role in this connection. In fact, Euro 1.7 million, or 90 percent, of the decline in sales resulted from this foreign exchange effect. Other key markets were less seriously affected: In Europe as a whole, sales slumped by Euro 1.2 million, from Euro 23.1 million in Q1/2002 to Euro 21.9 million in Q1/2003. This was offset by a Euro 1.2 million rise in sales in the Asian region and the rest of the world. Although new orders edged downward, the development of the company’s core business is encouraging: New orders for the company’s most important product, turbopumps, advanced from Euro 13.0 million in Q1/2002 to Euro 14.9 million in Q1/2003. At 43.3 percent, quarterly gross margin was down year on year (45.3 percent), resulting first and foremost from a less favorable product mix. During the 1st quarter of 2003, higher sales were generated with leak detection systems and the company’s first DVD system. Costs developed on a largely constant note. This resulted in an operating profit (EBIT) of Euro 3.4 million in Q1/2003, as opposed to Euro 4.6 million in Q1/2002. Financial income and a more favorable tax rate than in Q1/2002 produced after-tax income of Euro 2.7 million, only marginally lower than during the same quarter the year before (Euro 2.9 million). Cash and cash equivalents rose from Euro 72.3 million to Euro 76.4 million. For full press release including financial tables see http://www.pfeiffer-vacuum.de . end of ad-hoc-announcement (c)DGAP 06.05.2003 ——————————————————————————– WKN: 691660; ISIN: DE0006916604; Index: TecDAX, NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 060832 Mai 03