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Pfeiffer Vacuum Technology AG — Earnings Release 2013
May 7, 2013
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Earnings Release
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Corporate | 7 May 2013 07:31
Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum announces results for the first quarter of 2013
Pfeiffer Vacuum Technology AG / Key word(s): Quarter Results/Development of Sales
07.05.2013 / 07:31
Pfeiffer Vacuum announces results for the first quarter of 2013
– Revenues correspond to market development
– Decline in revenues offset improvements in profitability
– Order intake indicates an upturn
Asslar, May 7, 2013. Revenues of EUR 100.0 million were achieved by Pfeiffer Vacuum in the first quarter of 2013.
Key figures at a glance:
| Q1/2013 | Q1/2012* | Change | |
| Sales Revenues | EUR 100.0 million | EUR 132.0 million | – 24.2 % |
| Operating profit (EBIT) | EUR 11.1 million | EUR 20.3 million | – 45.2 % |
| Net income | EUR 7.5 million | EUR 13.6 million | – 44.6 % |
| Earnings per share | EUR 0.76 | EUR 1.37 | – 44.5 % |
| Order intake | EUR 104.1 million | EUR 136.8 million | – 23.9 % |
| Orders in hand | EUR 75.9 million | EUR 92.4 million | – 17.9 % |
* Values for 2012 have been adjusted in some cases due to the revised edition of IAS 19.
‘Considering that we started the year 2013 with an order intake of EUR 97 million in the fourth quarter of 2012, we can be reasonably satisfied with a revenue level that is greater than this’, comments Manfred Bender, Chairman of the Management Board of Pfeiffer Vacuum. ‘We have always said that the first half of 2013 will be affected by a difficult market environment. This also counters our efforts to improve profitability. With regard to order intake, however, an upturn is already apparent’.
The situation of customers in Europe has improved to a certain extent. Sales revenues there fell by just 5.1 percent to EUR 46.9 million (previous year: EUR 49.4 million). In contrast, sales revenues in Asia fell by 43.8 percent to EUR 31.4 million (previous year: EUR 55.8 million). In the Americas revenues decreased by 18.8 percent to EUR 21.5 million (previous year: EUR 26.5 million).
Looking at revenues for different product categories, Pfeiffer Vacuum saw an improvement of 7.0 percent for services, which rose to EUR 20.7 million (previous year: EUR 19.3 million). Turbopumps showed a decrease in revenues of 11.3 percent, falling to EUR 31.8 million (previous year: EUR 35.8 million). Sales revenues for instruments and components fell by 29.7 percent to EUR 24.1 million (previous year: EUR 34.2 million). For backing pumps, sales revenues amounted to EUR 21.9 million, which corresponds to a decrease of 44.2 percent (previous year: EUR 39.2 million). With regard to systems, sales revenues halved to EUR 1.6 million (previous year: EUR 3.4 million).
A slight rise of 0.7 percent to EUR 12.8 million was achieved in sales revenues for Coatings (previous year: EUR 12.7 million). Sales revenues in the market segment Industry decreased by 2.2 percent to EUR 27.7 million in the first quarter of 2013 (previous year: EUR 28.3 million). Sales revenues in the semiconductor market fell by 50.9 percent to EUR 26.0 million (previous year: EUR 52.9 million). The Analytics market segment showed a decrease in revenues of 12.8 percent, falling to EUR 19.9 million (previous year: EUR 22.8 million). In Research and Development, sales revenues amounted to EUR 13.6 million, which represents a decrease of 10.7 percent (previous year: EUR 15.3 million).
New orders in the first quarter of 2013 at EUR 104.1 million were 23.9 percent below last year’s level (previous year: EUR 136.8 million). Compared to the previous quarter, however, it is an improvement of 6.9 percent (Q4 2012: EUR 97.4 million), which indicates a positive trend. The book-to-bill ratio, the ratio of orders to sales revenue, as at March 31, 2013 was 1.04 (previous year: 1.04). Orders on hand at EUR 75.9 million showed a reduction of 17.9 percent compared to the previous comparable period (previous year: EUR 92.4 million). Here too there is an increase over the previous quarter of 5.7 percent (as at December 31, 2012: EUR 71.8 million).
Despite a decline in sales revenues of 24.2 percent, the gross profit margin remained exactly at the level of the previous year, namely 35.6 percent. Measures taken to improve efficiency are making an impact here. In absolute values, the gross profit fell by 24.3 percent to EUR 35.6 million (previous year: EUR 47.0 million). The operating profit of EUR 11.1 million remained 45.2 percent below that of the previous year (previous year: EUR 20.3 million). This resulted in an EBIT margin of 11.1 percent (previous year: 15.2 percent). Income after tax amounted to EUR 7.5 million, which is a decrease of 44.6 percent compared to the last year (previous year: EUR 13.6 million). Correspondingly, earnings per share amounted to EUR 0.76 (previous year: EUR 1.37).
Please find the complete press release including Consolidated Statements of Income, Consolidated Balance Sheets, Consolidated Statements of Cash Flows at www.pfeiffer-vacuum.com
Contact:
Pfeiffer Vacuum Technology AG
Investor Relations
Dr. Brigitte Loos
T +49 6441 802 1346
F +49 6441 802 1365
About Pfeiffer Vacuum
Pfeiffer Vacuum (Stock Exchange Symbol PFV, ISIN DE0006916604) is one of the world’s leading providers of vacuum solutions. In addition to a full range of hybrid and magnetically levitated turbopumps, the product portfolio comprises backing pumps, measurement and analysis devices, components as well as vacuum chambers and systems. Ever since the invention of the turbopump by Pfeiffer Vacuum, the company has stood for innovative solutions and high-tech products that are used in the markets Analytics, Industry, Research & Development, Coating and Semiconductor. Founded in 1890, Pfeiffer Vacuum is active throughout the world today. The company employs a workforce of some 2,300 people and has more than 20 subsidiaries. For more information, please visit www.pfeiffer-vacuum.com
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| Language: | English |
| Company: | Pfeiffer Vacuum Technology AG |
| Berliner Str. 43 | |
| 35614 Asslar | |
| Germany | |
| Phone: | +49 6441 802-0 |
| Fax: | +49 6441 802-1365 |
| E-mail: | [email protected] |
| Internet: | www.pfeiffer-vacuum.de |
| ISIN: | DE0006916604 |
| WKN: | 691660 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart |
| End of News | DGAP News-Service |
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| 209921 07.05.2013 |