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DGAP-News: Pfeiffer Vacuum Technology AG
/ Key word(s): Quarterly / Interim Statement
PRESS RELEASE Pfeiffer Vacuum benefits from strong semiconductor business in challenging overall environment during H1 2020 - Sales of EUR 301.9 million, down 3.0% from the previous year - Operating result (EBIT) of EUR 19.5 million and EBIT margin of 6.5% - Order intake of EUR 316.6 million, up 7.8% compared to previous year Asslar, August 4, 2020. Pfeiffer Vacuum Technology AG, a leading global manufacturer of vacuum solutions, today announced consolidated results for the first half of 2020. Pfeiffer Vacuum sales for the first six months 2020 declined slightly by 3.0% to EUR 301.9 million compared to the previous year (H1 2019: EUR 311.1 million), primarily driven by lower sales in the coating, analytics, industry and R&D markets, offset by a strong performance in the semiconductor market. Sales in the semiconductor and coating market combined increased by 7.6% to EUR 158.5 million (H1 2019: 147.3 million) whereas sales in the industry, analytics and R&D market segments decreased by 12.5% to EUR 143.4 million (H1 2019: 163.8 million). The operating result (EBIT) of EUR 19.5 million represents a decrease by 40.5% compared to the previous year (H1 2019: EUR 32.8 million). The EBIT margin reached 6.5% (H1 2019: 10.6%). The year-over-year decline in EBIT was primarily a result of the decrease in sales, productivity losses through COVID-19 and due to changes in sales mix. In addition, increased expenses to drive market share growth and to improve the EBIT margin to 20% by 2025 as outlined in the Company's growth strategy had a negative effect on the operating performance. The book-to-bill ratio, the ratio of order intake to sales, was at 1.05 for the first half of the year 2020. The order intake was strong despite COVID-19 and reached EUR 316.6 million, up 7.8% compared to first half of 2019. At the end of the second quarter 2020, Pfeiffer Vacuum had an order backlog of EUR 125.4 million, roughly stable compared to the previous year (June 30, 2019: EUR 127.5 million). "Our results for the first half of 2020 were particularly impacted by COVID-19 and the global recession in the second quarter 2020," says Dr. Eric Taberlet, CEO of Pfeiffer Vacuum Technology AG. "However, we are operating in the very attractive growth market of high-vacuum applications, have leading technology, a broad customer base and committed employees. This positions us well in an overall challenging market environment." Nathalie Benedikt, CFO comments: "Pfeiffer Vacuum is in a strong financial position. This provides the foundation for our commitment to execute our strategy to drive market share gains and operational efficiencies. However, it is essential that we remain agile and make adjustments where needed, particularly in the current market environment."
In sales by region, which describes sales according to the location of the customers in their corresponding region, Pfeiffer Vacuum in the Americas achieved a year-over-year increase in sales by 2.2% to EUR 84.5 million for the first half 2020 (H1 2019: EUR 82.7 million) driven by sales to semiconductor customers. Europe showed a decrease of 5.4% to EUR 108.7 million (H1 2019: EUR 114.9 million). Sales in Asia declined by 4.3% to EUR 108.6 million (H1 2019: EUR 113.4 million), mainly related to market conditions in the coating market. The gross profit for the first half of 2020 was EUR 102.6 million (H1 2019: EUR 109.0 million). The year-over-year decline is due to negative economies of scale related to sales declines, sales mix and productivity impact related to COVID-19 measures. Net income declined to EUR 13.5 million (H1 2019: EUR 23.3 million) representing earnings per share of EUR 1.37 (H1 2019: EUR 2.36).
About Pfeiffer Vacuum
04.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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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@pfeiffer-vacuum.de |
| 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 |
| EQS News ID: | 1108453 |
| End of News | DGAP News Service |
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1108453 04.08.2020
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