DGAP-News: Pfeiffer Vacuum Technology AG: Announcement of 9M/2013 results
(firmenpresse) - DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Quarter
Results
Pfeiffer Vacuum Technology AG: Announcement of 9M/2013 results
05.11.2013 / 07:26
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PRESS RELEASE
Pfeiffer Vacuum announces results for 9M/2013
- Q3 sales on same level as both preceding quarters - order intake
showing improvements
- 9M/2013 EBIT margin at 12.1 percent
- Guidance for FY 2013 confirmed - sales expected at lower end of range
Asslar, 5 November, 2013. Pfeiffer Vacuum generated sales of EUR 299.8
million during the first nine months of 2013 during which an EBIT margin of
12.1 percent was achieved. In a difficult market environment, this result
is broadly in line with our expectations.
The figures at a glance:
9M/2013 9M/2012* change
Sales EUR 299.8m EUR 354.3m - 15.4%
Operating profit (EBIT) EUR 36.2m EUR 53.6m - 32.5%
Net income EUR 24.4m EUR 35.8m - 31.8%
Earnings per share EUR 2.47 EUR 3.60 - 31.4%
Order intake EUR 309.5m EUR 348.2m - 11.1%
Order backlog EUR 81.5m EUR 81.4m + 0.1%
Q3/2013 Q3/2012* change* Values for 2012 have been adjusted in some cases due to the revised
Sales EUR 99.9m EUR 112.0m - 10.9%
Operating profit (EBIT) EUR 14.9m EUR 17.1m - 12.9%
Net income EUR 10.0m EUR 11.5m - 13.1%
Earnings per share EUR 1.01 EUR 1.16 - 12.9%
Order intake EUR 103.9m EUR 100.7m + 3.2%
version of IAS 19.
'Sales in the third quarter were on the same level as both preceding
quarters', says Manfred Bender, CEO of Pfeiffer Vacuum Technology AG.
'The improvement in order intake during the third quarter makes us
confident that our goals for the full year will be achieved. This positive
trend even intensified throughout October. It is worth emphasizing that we
have also been registering corresponding impulses for our French production
site.'
'Furthermore, we feel affirmed by the improved operating result in the
third quarter which has taken the nine-month EBIT margin beyond the
targeted level of 12 percent.' Bender continues: 'What's more, we have
achieved an operating cash flow of EUR 28.0 million after nine months - of
which amongst other things EUR 9.6 million have been used for the repayment
of financial debt. Our liquid assets amounted to EUR 80.3 million at the
end of the period and thus once again significantly surpassed our financial
liabilities of currently EUR 42.6 million: Hence, we maintain a net cash
position.'
CEO Bender explains further: 'Concerning our full-year result for 2013, we
assume sales to materialize at the lower end of stated range between EUR
420 million and EUR 450 million. The corresponding EBIT margin is confirmed
at around 12 percent.'
The development of sales in the various markets was rather heterogeneous.
This is true for the market segments as well as the geographical split. The
distribution of sales by market segment showed a 37 percent decline in
semiconductor to EUR 82.7 million (9M/2012: EUR 131.5 million). Sales in
the industry segment decreased 6 percent to EUR 80.0 million (9M/2012: EUR
85.1 million). A similar development was witnessed in analytics which
declined 5 percent to EUR 59.8 million (9M/2012: EUR 63.0 million). The
sales contribution from the research and development segment was virtually
unchanged at EUR 40.2 million (9M/2012: EUR 40.3 million) while the coating
market segment succeeded at growing its sales by 8 percent to EUR 37.2
million in the reported period (9M/2012: EUR 34.4 million).
In Europe, sales declined by 4 percent in the first nine months of 2013 to
EUR 138.0 million (9M/2012: EUR 144.4 million). Sales in Asia decreased a
quarter to EUR 100.9 million (9M/2012: EUR 134.5 million). The
corresponding decline in sales in the Americas amounted to 19 percent -
taking the figure to EUR 60.2 million (9M/2012: EUR 74.6 million).
Concerning product sales, the service business showed a 6 percent increase
to EUR 60.8 million (9M/2012: EUR 57.2 million). In contrast, backing pump
sales experienced a decline of 34 percent to EUR 64.5 million (9M/2012: EUR
97.4 million). Sales with instruments and components decreased 12 percent
to EUR 73.8 million (9M/2012: EUR 83.9 million). The decline in turbopump
sales amounted to 8 percent which took the figure to EUR 93.5 million
(9M/2012: EUR 101.1 million); in systems, sales shed 51 percent to EUR 7.2
million (9M/2012: EUR 14.7 million).
New orders in the first nine months of 2013 totaled EUR 309.5 million and
were hence down 11 percent versus the previous corresponding figure
(9M/2012: EUR 348.2 million). The book-to-bill ratio, the ratio of order
intake to sales, was 1.03 for the year through 30 September, 2013 (9M/2012:
0.98). The order backlog of EUR 81.5 million on stated date was slightly
higher than the corresponding figure a year earlier (30 September, 2012:
EUR 81.4 million).
In spite of the 15.4 percent downturn in group sales, Pfeiffer Vacuum's
gross profit margin rose by 0.5 percentage points to 36.9 percent for the
first nine months of 2013 (9M/2012: 36.4 percent). The period's operating
profit of EUR 36.2 million was 32.5 percent below the prior year's relevant
figure (9M/2012: EUR 53.6 million). This resulted in an EBIT margin of 12.1
percent (9M/2012: 15.1 percent) which is in line with our target for the
full year 2013. Net income was 31.8 percent lower at EUR 24.4 million for
the period (9M/2012: EUR 35.8 million) and translated to earnings per share
of EUR 2.47 for the reported first nine months of 2013 (9M/2012: EUR 3.60).
Contact
Pfeiffer Vacuum Technology AG
Investor Relations
Eerik Budarz
T +49 6441 802 1346
F +49 6441 802 1365
Eerik.Budarz(at)pfeiffer-vacuum.de
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 2,200 people and has more than 20 subsidiaries.
For more information, please visit www.pfeiffer-vacuum.com
End of Corporate News
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05.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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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: info(at)pfeiffer-vacuum.de
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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237784 05.11.2013
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