Pfeiffer Vacuum Technology AG - Earnings Release 2018

News Details

Corporate | 6 November 2018 08:07

Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum increases sales by 14.1% to EUR 491.3 million

DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): 9-month figures

06.11.2018 / 08:07

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

Pfeiffer Vacuum increases sales by 14.1% to EUR 491.3 million

Sales increase to EUR 491.3 million: +14.1%
EBIT reaches EUR 68.5 million: +19.7%
EBIT margin: 13.9%, adjusted: 14.9%
Order Intake: EUR 148.6 million in Q3 2018

Asslar, Germany, November 6, 2018. Pfeiffer Vacuum, a leading global manufacturer of vacuum solutions further increased sales by 14.1% to EUR 491.3 million compared to the previous year. Weaker momentum compared to the first half of the year is a result of the expected delays in CAPEX expansions in the semiconductor market. Of its total sales, EUR 50.4 million was generated by the companies acquired in the previous year. Gross profit increased by 13.0% to EUR 176.6 million. EBIT improved to EUR 68.5 million, or by 19.7%. The EBIT margin improved slightly to 13.9%. Adjusted for PPA effects in the amount of EUR 4.6 million, EBIT reached EUR 73.1 million at an adjusted EBIT margin of 14.9%. Order intake in the third quarter was down compared to the second quarter by 14.6%, at a book-to-bill ratio of 0.97. Order backlog decreased by EUR 4.5 million compared to the previous quarter. Compared to previous year order backlog expanded by EUR 34.6 million to EUR 152.7 million as of September 30, 2018.

Overview of key figures:


	9M/2018	9M/2017*	Change

Sales	EUR 491.3 million	EUR 430.5 million	+14.1%
thereof from acquisitions	EUR 50.4 million	EUR 25.8 million
EBIT	EUR 68.5 million	EUR 57.2 million	+19.7%
Adjusted EBIT	EUR 73.1 million	EUR 60.8 million	+20.2%
Net result	EUR 49.3 million	EUR 39.6 million	+24.3%
Earnings per share	EUR 4.99	EUR 4.02	+24.1%

Order Intake	EUR 516.6 million	EUR 476.3 million	+8.5%
thereof from acquisitions	EUR 51.5 million	EUR 40.5 million
Order volume	EUR 152.7 million	EUR 118.1 million	+29.3%
	Q3 2018	Q3 2017*	Change

Sales	EUR 153.1 million	EUR 154.2 million	-0.7%
thereof from acquisitions	EUR 17.0 million	EUR 19.6 million
EBIT	EUR 20.7 million	EUR 22.2 million	-6.4%
Adjusted EBIT	EUR 21.4 million	EUR 24.9 million	-13.9%
Net result	EUR 14.9 million	EUR 15.4 million	-3.3%
Earnings per share	EUR 1.51	EUR 1.56	-3.2%

Incoming orders	EUR 148.6 million	EUR 157.8 million	-5.8%
thereof from acquisitions	EUR 13.6 million	EUR 17.6 million	-22.7%

*9M and Q3 2017 values adjusted in some cases according to effects from the purchase price allocation for the companies Nor-Cal, ATC and Dreebit, which was carried out retroactively

Nathalie Benedikt, CFO comments, “Pfeiffer Vacuum was able to further increase sales and earnings despite the expected weaker semiconductor market environment. Capital expenditures of EUR 11.5 million in the third quarter, show the good dynamic in the implementation of our strategy based on the EUR 150 million Three-Year-Investment Plan.”

It was possible to further increase sales in all market segments as of the end of the third quarter. Business with customers from the semiconductor industry recorded an increase of 11.0% to EUR 186.2 million. This corresponds to a share of 37.9% of total sales. In the market for coatings, sales increased by a gratifying 44.7% to EUR 77.0 million. Increased demand for glass and surface coatings resulted in positive momentum. Sales in the analytics segment achieved growth of 18.0% to EUR 87.5 million. Industry customers contributed 19.6% of total sales. Sales in this market segment, the most heterogeneous, grew by 3.0% to EUR 96.6 million. Business with customers from Research and Development was increased by 5.9% to EUR 44.1 million.

In terms of product groups, turbopumps recorded an increase of sales of 10.4% to EUR 141.1 million, confirming their importance on the product level with a share of 28.7% of total sales. The highest sales in terms of product groups was achieved with instruments and components at EUR 145.5 million, with growth of 28.6% compared to the previous year. Backing pumps recorded a rise of 9.5% with sales of EUR 110.1 million. Sales of systems increased by 45.5% to EUR 11.3 million, with a focus on holistic, individualized applications for customers in Research and Development. In the area of service, sales increased to EUR 83.3 million or 2.6% compared to the previous year.

Viewed regionally, Asia proved to be the market with the strongest sales, at sales of EUR 185.1 million and a share of 37.7%, an increase of 15.9%. This was followed by Europe with sales of EUR 178.6 million and growth of 10.8% compared to the previous year. In North and South America, sales increased by 16.5% to EUR 127.5 million, of which a total of EUR 41.3 million resulted from companies acquired in the previous year.

Dr. Eric Taberlet, CEO of Pfeiffer Vacuum comments: “We were able to largely offset the weaker sales in the semiconductor market by a more pleasing development in all other market segments. Nevertheless we are confident that we will achieve our guidance for sales and EBIT Margin for the year at the lower end of the range ”

Contact

Pfeiffer Vacuum Technology AG

Investor Relations

Dinah Reiss

T +49 6441 802 1346

F +49 6441 802 1365

[email protected]

Short profile

Pfeiffer Vacuum (ticker symbol PFV, ISIN DE0006916604) is a leading global manufacturer of vacuum solutions. Among a full range of hybrid and magnetically levitated turbopumps, the portfolio comprises backing pumps, measurement and analysis devices, components and vacuum chambers and systems. Pfeiffer Vacuum has stood for innovative solutions and high-tech products in analytics, industry, research & development, coating and semiconductor markets since its invention of the turbopump in 1958. Founded in 1890, Pfeiffer Vacuum is active worldwide today. Pfeiffer Vacuum has eight manufacturing sites in Europe, Asia and North America. The company employs approx. 3,000 employees worldwide and has over 20 sales and service companies.

For more information, please go to: 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
Indices:	SDAX, TecDAX
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange