Corporate | 2 May 2017 07:30
Pfeiffer Vacuum Technology AG: Announcement of results for Q1/2017
|
DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Quarter Results
PRESS RELEASE
– Q1/2017 sales up 24.9 percent from prior year – Q1/2017 EBIT margin increases by 3.8 percentage points – Order intake amounts to EUR 146.5 million – Impressive demonstration of long-term growth potential – High attendance necessary at Annual General Meeting on 23 May Asslar, May 2, 2017. Pfeiffer Vacuum generated sales in the amount of EUR 136.9 million (up 24.9 percent from the prior year) during the first quarter of 2017, achieving an EBIT of EUR 21.4 million (65.6 percent above the previous year’s figure). Earnings per share for the quarter thus amounted to EUR 1.50 (up 64.8 percent from the prior year). The figures at a glance:
“We actually surpassed our high expectations with the start into the year 2017”, says Manfred Bender, CEO of Pfeiffer Vacuum Technology AG. “Compared with the same period last year, we significantly increased our sales and profitability, as our significantly higher EBIT margin of 15.6 percent goes to show. What stands out as particularly impressive is that all market segments and regions contributed to these strong results. The first quarter’s figures impressively demonstrate that Pfeiffer Vacuum is strategically, technologically and financially in a very good position to profit from the long-term growth potential in the vacuum industry as an independent enterprise. And with that, we offer attractive long-term prospects to our shareholders.”
All regions succeeding in increasing sales across all segments.
Breaking sales down by product groups, Turbopumps accounted for a 25.4 percent increase with sales amounting to EUR 42.8 million (Q1/2016: EUR 34.2 million). Backing pump sales were up by 25.1 percent to EUR 34.0 million (Q1/2016: EUR 27.1 million). Instruments and components sales rose by 41.9 percent to EUR 30.2 million (Q1/2016: EUR 21.3 million). The Service business increased by 11.3 percent to EUR 26.7 million (Q1/2016: EUR 24.0 million). The Systems business posted 6.1 percent growth taking sales to EUR 3.2 million (Q1/2016: EUR 3.0 million). New orders in the first three months of 2017 came to EUR 146.5 million, a substantial 24.8 percent increase compared to the prior year (Q1/2016: EUR 117.4 million). The book-to-bill ratio, the ratio of order intake to sales, remained unchanged at 1.07. The order backlog on March 31 amounted to EUR 81.9 million, 13.0 percent higher than in the same period of the previous year (Q1/2016: EUR 72.5 million). Compared with the same period last year, Pfeiffer Vacuum’s gross profit margin in the first quarter of 2017 decreased slightly by 0.9 percentage points to 38.5 percent (Q1/2016: 39.4 percent). The operating profit of EUR 21.4 million, however, was 65.6 percent higher than in the prior year (Q1/2016: EUR 12.9 million). The resulting EBIT margin was up to 15.6 percent from last year’s level of 11.8 percent. Net income in the amount of EUR 14.8 million was 65.6 percent higher than the previous year’s figure (Q1/2016: EUR 9.0 million). As a result, earnings per share increased markedly to EUR 1.50 (Q1/2016: EUR 0.91).
Outlook for 2017
The strong results of the first quarter of 2017 are further evidence of the soundness of the Management and Supervisory Boards’ assessment to decline this offer by the Busch Group. We would like to ask all shareholders to exercise their rights and take part in the Annual General Meeting in Wetzlar, on May 23, 2017, either in person or by means of an authorized proxy. High attendance at the Annual General Meeting is the only way to ensure that the interests of all shareholders are safeguarded. The Busch family’s baseless allegations against the corporate governance of Pfeiffer Vacuum prove that the Busch family aims to exploit the Annual General Meeting for its purposes. This has to be prevented – in the interest of Pfeiffer Vacuum and its shareholders.
Additional information about the Busch Group’s public tender offer and the AGM of Pfeiffer Vacuum Technology AG on 23 May, 2017, may be viewed on the company website via the following link:
Important Note
Attachments:
Income statement, balance sheet and cash flow statement
About Pfeiffer Vacuum
For more information, please visit www.group.pfeiffer-vacuum.com
02.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
|
| 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 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |