DGAP-News: Pfeiffer Vacuum AG

Pfeiffer Vacuum records significant increase in sales
 

- 27.6 % hike in sales during first nine months of 2017

- EBIT improved by 44.3 %

- Order intake 39.3 % higher than in previous year

- Changes in the Supervisory Board
 

Asslar, November 2, 2017. Pfeiffer Vacuum Technology AG ("Pfeiffer Vacuum") generated sales of EUR 430.5 million (27.6 % over the previous year) in the first nine months of 2017 and thus achieved an EBIT of EUR 60.8 million (44.3 % over the previous year). Earnings per share for the period rose by 44.3 % to EUR 4.27.
 

The figures at a glance:

"We are pleased about this exceptionally strong development of business," says Manfred Bender, Chief Executive Officer of Pfeiffer Vacuum Technology AG, with satisfaction. Sales developed extremely well and increased to EUR 430.5 million in the first nine months (9M/2016: EUR 337.4 million). At EUR 476.3 million, order intake continued to remain at a very high level (9M2016: EUR 342.0 million). EBIT improved substantially to EUR 60.8 million (9M/2016: EUR 42.1 million), representing an increase of 44.3 %.

One reason for this strong growth, apart from the steadily growing semiconductor market, is the solar industry. Chinese customers in particular, but also European buyers, have ordered products for these applications. In Europe, the glass coating business also developed very positively. "In addition to vacuum pumps, we are selling more and more pump-related components for vacuum systems and, with the acquisition of Nor-Cal, we have significantly expanded our portfolio. This reinforces our position as a supplier of integrated vacuum solutions," Bender explains. "This can be seen from the orders placed. Our order books are full. At EUR 118.1 million, the order backlog is at a record level."

The Management Board is confident that it will be able to achieve the forecast growth: "After the developments to date, we are confident that we will at least reach the upper end of the forecast sales range of EUR 550 to 570 million," says Bender. "If we succeed, 2017 would be the most successful year ever for Pfeiffer Vacuum."

The Supervisory Board of Pfeiffer Vacuum was newly appointed one week ago. The resignations of Dr. Michael Oltmanns and Dr. Wolfgang Lust took effect on October 25. Ayla Busch, who was appointed to the Supervisory Board by Wetzlar district court, has been a member of the Supervisory Board since October 26 and was elected as its chair. "We would like to thank the retiring Supervisory Board members for their many years of loyal cooperation. At the same time, we are looking forward to working together constructively with Ms. Busch," Bender says.

The strong growth in the semiconductor market is continuing and increasing the gap to sales in the other segments. Compared to the first nine months of the previous year, Pfeiffer Vacuum boosted sales in this area by 59.3 %. Total revenues amounted to EUR 167.7 million (9M/2016: EUR 105.3 million). The industry segment improved by 14.6 % to EUR 93.8 million. The share from the analytics segment grew by 7.9 % to EUR 74.2 million (9M/2016: EUR 68.7 million). The coating segment achieved significant growth of 26.0 %. Here, sales increased to EUR 53.2 million (9M/2016: EUR 42.2 million). Revenues in the research & development segment grew moderately by 5.9 % to EUR 41.6 million (9M/2016: EUR 39.3 million).

Business in Europe increased by 17.7 % to EUR 161.2 million (9M/2016: EUR 136.9 million) and thus was slightly stronger than the Asian market. Pfeiffer Vacuum generated sales of EUR 159.7 million (9M/2016: EUR 120.4 million) here, an increase of 32.6 % over the nine-month period of the previous year. The share of revenues in the Americas improved by 37.0 % to EUR 109.4 million (9M/2016: EUR 79.9 million).

In sales by product group, turbopumps recorded growth of 24.6 % to EUR 127.8 million (9M/2016: EUR 102.6 million). Backing pump business increased by 22.4 % to EUR 100.5 million (9M/2016: EUR 82.2 million). Instruments and components achieved a 54.9 % increase in sales of EUR 113.1 million (9M/2016: EUR 73.0 million). The service segment grew by 10.1 % to EUR 81.2 million (9M/2016: EUR 73.8 million). In systems, a 33.6 % increase in revenues to EUR 7.8 million (9M/2016: EUR 5.8 million) was recorded.

Incoming orders have remained at a consistently high level in the year to date. In the first nine months of 2017, Pfeiffer Vacuum's total value of orders received amounted to EUR 476.3 million, a significant 39.3 % up on the previous year's figure (9M/2016: EUR 342.0 million). At 1.11, the book-to-bill ratio, the ratio of order intake to sales, was higher than in the same period last year (9M/2016: 1.01). The order backlog as of September 30, 2017 amounted to EUR 118.1 million, which was 70.4 % higher than in the previous year (September 30, 2016: EUR 69.3 million).

At 37.0 %, the gross profit margin in the first nine months of 2017 was slightly lower than the previous year's figure of 37.6 %. Operating profit at EUR 60.8 million was 44.3 % higher than the comparable figure (9M/2016: EUR 42.1 million). The resulting EBIT margin increased to 14.1 % (9M/2016: 12.5 %) compared to the same period of the previous year. Net income amounted to EUR 42.1 million and was therefore 44.0 % higher than in the same period last year (9M/2016: EUR 29.2 million). Earnings per share thus improved significantly to EUR 4.27 (9M/2016: EUR 2.96).

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 Semiconductors. Founded in 1890, Pfeiffer Vacuum is globally active today. The company employs a workforce of some 2,900 people and has 32 subsidiaries.
For more information, please visit www.group.pfeiffer-vacuum.com.

Contact
Pfeiffer Vacuum Technology AG
Investor Relations
Dr Karen Bogdanski
T +49 6441 802 1346
F +49 6441 802 1365
Karen.Bogdanski@pfeiffer-vacuum.de

Important Note
This Press Release may contain certain future-oriented statements based on current assumptions and prognoses by the corporate management of Pfeiffer Vacuum Technology AG or of companies affiliated with Pfeiffer Vacuum Technology AG. As a result of various known and unknown risks and contingencies, as well as other factors, the actual results, financial position, development or performance of Pfeiffer Vacuum Technology AG and of the companies affiliated with Pfeiffer Vacuum Technology AG may diverge significantly from the appraisals given here. Neither Pfeiffer Vacuum Technology AG nor the companies affiliated with Pfeiffer Vacuum Technology AG accept any obligation to update such future-oriented statements and bring them into line with future events or developments.