Pfeiffer Vacuum Technology AG - Earnings Release 2016

News Details

Corporate | 15 February 2017 07:30

Pfeiffer Vacuum Technology AG: Announcement of preliminary results for FY 2016

DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Preliminary Results

15.02.2017 / 07:30

The issuer is solely responsible for the content of this announcement.

**PRESS RELEASE

Pfeiffer Vacuum reports on successful financial year 2016 and expects strong first half 2017

– Sales amount to EUR 474.2 million

– EBIT at EUR 68.0 million

– Order intake at EUR 481.9 million

– Acquisitions to strengthen service offering and leak detection business

– Offer of the Busch Group not attractive

Asslar, February 15, 2017. Pfeiffer Vacuum today announced preliminary figures for FY 2016. According to unaudited figures, sales amounted to EUR 474.2 million, an increase of 5.0 percent over the previous year (EUR 451.5 million) and surpassing its sales guidance of EUR 470 million, concluding one of most successful years in the company’s history. EBIT increased by 12 percent to EUR 68.0 million (prior year: EUR 60.8 million), taking the EBIT margin to 14.3 percent (prior year: 13.5 percent). Pfeiffer Vacuum’s order intake for FY 2016 amounted to EUR 481.9 million (prior year: EUR 456.9 million), and the company’s book-to-bill ratio, the ratio of order intake to sales, was 1.02 in 2016 (prior year: 1.01). Year-end FY 2016 order backlog amounted to EUR 72.3 million (prior year: EUR 64.7 million).

Manfred Bender, CEO of Pfeiffer Vacuum Technology AG, commented: “Strong incoming orders at the end of the year transformed 2016 into a very good year. We are also highly satisfied with the start of the 2017 fiscal year. We expect the positive trend of the past months to continue at least for the first six months of 2017.”

Pfeiffer Vacuum recently expanded its investment portfolio with two acquisitions, including the purchase of 100 percent of Dresden-based Dreebit GmbH, of which it previously owned 24.9 percent. Pfeiffer Vacuum will continue focusing on service, a growth segment currently accounting for roughly 22 percent of group sales and increasingly becoming an important selling point for Pfeiffer Vacuum’s customers. Dreebit is renowned for its high process and service quality and set to form a key component of Pfeiffer Vacuum’s future service strategy. Pfeiffer Vacuum also acquired 100 percent of ATC Inc. which is based in Indianapolis, USA, in order to further expand its legacy leak detection product portfolio. With access to alternative technologies and new applications, Pfeiffer Vacuum is set to become the market leader in the field of non-destructive testing, a highly attractive and high-margin business even prior to potential synergies generated in the course of further expansion.

Pending a detailed review of the offer document published on February 13, 2017, by the Busch Group and the issuance of a reasoned opinion, the Management Board of Pfeiffer Vacuum Technology AG has made an initial assessment.

The Management Board of Pfeiffer Vacuum understands the Busch Group as intending to actively control and possibly integrate Pfeiffer Vacuum without offering a customary control premium. In addition, the offer does not reflect the growth potential in the vacuum industry, which the Busch Group itself had previously identified. As such, the Management Board considers the offer as inadequate. As of today, the Management Board therefore cannot recommend the acceptance of the offer to its shareholders. The Board is currently reviewing other options to ensure that Pfeiffer Vacuum shareholders can appropriately participate in the long-term development of the company.

In any case, the Management Board recommends that shareholders postpone their decision on a possible acceptance of the offer until the Management Board and Supervisory Board issue reasoned opinions or a joint statement.

The complete audited results will be announced by the company on the day of the financial press conference, March 23, 2017.

**Contact

Pfeiffer Vacuum Technology AG

**Investor Relations

Eerik Budarz

T +49 6441 802 1346

F +49 6441 802 1365

[email protected]

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 encompasses 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 globally active today. The company employs a workforce of some 2,400 people and has more than 20 subsidiaries.

For more information, please visit www.group.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:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange