Pfeiffer Vacuum Technology AG

  • WKN: 691660
  • ISIN: DE0006916604
  • Land: Deutschland

Nachricht vom 20.02.2020 | 07:45

Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum reaches latest targets for sales and profitability in 2019 and expects sales improvements in 2020

DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Annual Results
20.02.2020 / 07:45
The issuer is solely responsible for the content of this announcement.


Pfeiffer Vacuum reaches latest targets for sales and profitability in 2019 and expects sales improvements in 2020

Asslar, February 20, 2020. Pfeiffer Vacuum Technology AG, a leading global manufacturer of vacuum solutions, today announces preliminary results for the fiscal year 2019. The company reported sales of EUR 632.9 million, operating results (EBIT) of EUR 65.2 million und EBIT margin of 10.3%, meeting the guidance provided in September 2019.

Compared to the previous year, sales decreased by 4.1% (previous year: EUR 659.7 million), primarily driven by challenging market conditions in the coating market and a weaker demand in the semiconductor market. This was partly offset by a strong performance in the industry market and the growth in the R&D and analytics markets. The operating result (EBIT) decreased by 31.5% (previous year: EUR 95.1 million) and the EBIT margin decreased by 4.1 percentage points compared to the previous year (previous year: 14.4%). The decrease in sales put pressure on operating results. In addition, increased expenses to drive market share growth and to improve the EBIT margin to over 20% by 2025 had a negative effect on the operating performance.

The book-to-bill ratio, the ratio of order intake to sales, was 0.95 for the full year. At the end of the fourth quarter, Pfeiffer Vacuum had an order backlog of EUR 110.7 million, a decrease of 23.6% compared to the previous year (EUR 144.9 million).

"In 2019 we continued to execute our ambitious growth strategy," says Dr. Eric Taberlet, CEO of Pfeiffer Vacuum Technology AG. "I am very pleased with the progress we made as we implemented a leadership and experts structure to drive worldwide results, strengthened our presence in China, and made first progress in driving operations excellence. Sales are expected to grow in 2020, but we are carefully monitoring developments related to the coronavirus and the Chinese market, a critical growth market for Pfeiffer Vacuum."

Nathalie Benedikt, CFO comments "Just as in 2019, we will continue the execution of our growth strategy, which is expected to be especially intense in 2020. Therefore, despite the anticipated sales growth, we don't expect a significant improvement in EBIT margin in 2020. Capital investments in 2020 are expected to be above 2019 levels."

Overview of key figures (unaudited):

  12M/2019 12M/2018 Change
Sales € 632.9 million € 659.7 million -4.1%
EBIT € 65.2 million € 95.1 million -31.5%
Order intake € 598.7 million € 677.2 million -11.6%
  Q4 2019 Q4 2018 Change
Sales € 165.5 million € 168.4 million -1.7%
EBIT € 16.2 million € 266.6 million -39.0%
Order intake € 148.7 million € 160.6 million -7.4%

Sales by market (unaudited):

  12M/2019 12M/2018 Change
Semiconductor € 222.6 million € 243.9 million -8.7%
Industry € 149.5 million € 135.3 million 10.5%
Analytics € 118.5 million € 116.7 million 1.5%
Coating € 75.6 million € 99.6 million -24.1%
R&D € 66.7 million € 64.2 million 3.8%
Total sales € 632.9 million € 659.7 million -4.1%

In connection with year-end requests for information, Pfeiffer Vacuum received communication from Busch SE declaring a direct or indirect ownership of 60.22% of Pfeiffer Vacuum share capital as of December 31, 2019.

The audited annual results are scheduled to be published on March 26, 2020.

Pfeiffer Vacuum Technology AG

Investor Relations
Heide Erickson
T +49 6441 802 1360

About Pfeiffer Vacuum
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, leak detectors, 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, coatings and semiconductor markets since its invention of the turbopump. Founded in 1890, Pfeiffer Vacuum is active worldwide. The Company employs approximately 3,200 employees, has over 20 sales and service companies, and operates 10 manufacturing sites worldwide.

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20.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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