DGAP-News: Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum increases sales in the first quarter of 2018 by nearly 25%

PRESS RELEASE
 
Pfeiffer Vacuum increases sales in the first quarter of 2018 by nearly 25%
 

• Sales increase by 24.4% to EUR 170.4 million
• EBIT reaches EUR 27.5 million, adjusted: EUR 29.4 million
• EBIT margin of 16.1%, adjusted: 17.2%
• Incoming orders grow significantly to EUR 194.0 million
   
   
  Asslar, May 3, 2018. Pfeiffer Vacuum, a leading global manufacturer of vacuum solutions, exceeded the previous year's record sales in the first quarter of 2018. Its sales increased by 24.4% to EUR 170.4 million (previous year: EUR 136.9 million). Of its total sales, EUR 16.0 million was generated by the companies Nor-Cal Products, ATC and Dreebit, all of which it acquired in the previous year.
   
  EBIT in the first quarter came to EUR 27.5 million, which was an increase of 30.0% over the previous year (EUR 21.1 million) and resulted in an EBIT margin of 16.1% (previous year: 15.4%). Adjusted for PPA effects, EBIT was EUR 29.4 million (previous year: EUR 21.4 million) and the EBIT margin was 17.2% (previous year: 15.6%). Incoming orders totaled EUR 194.0 million, up 32.4% over the previous year's quarter. EUR 17.0 million of this was attributable to the companies acquired in 2017. The book-to-bill ratio increased to a factor of 1.14 compared with 1.07 in the previous year's quarter and 1.09 in the last quarter of 2017. The order backlog rose significantly to EUR 151.0 million. Compared to the same period from the previous year, this represents an increase of 84.4% or 18.5% over the last quarter of 2017.
   
  Overview of key figures:
   

	Q1/2018	Q1/2017*	Change
Sales	EUR 170.4 million	EUR 136.9 million	+24.4%
thereof acquisitions	EUR  16.0  million	EUR 2.1 million
	Q1/2018	Q1/2017*	Change
EBIT Adjusted EBIT	EUR 27.5 million EUR 29.4 million	EUR 21.1 million EUR 21.4 million	+30.0%
Net result	EUR 19.8 million	EUR 14.7 million	+34.7%
Earnings per share	EUR 2.00	EUR1.49	+34.2%
Incoming orders	EUR 194.0 million	EUR 146.5 million	+32.4%
thereof acquisitions	EUR 17.0 million	EUR 4.1 million
Order backlog	EUR 151.0 million	EUR 81.9 million	+84.4 %

*Q1 2017 amounts partially adjusted by retroactive PPA allocation for companies ATC and Dreebit, acquired in 2017
 
Nathalie Benedikt, CFO of Pfeiffer Vacuum Technology AG, comments on the positive results in the first quarter of 2018, "As forecast, there was a clear increase in sales and earnings in the first quarter. At EUR 170.0 million and EUR 27.5 million respectively, our results in the first quarter were excellent."
 
All business units reported a gratifying growth in the first quarter of 2018. In terms of markets, Semiconductor achieved outstanding sales of EUR 70.1 million. Business with Coatings, driven primarily by government-funded growth initiatives in Asia, recorded an increase of 64.3 percent, the most significant growth in relative terms. Sales in Analytics were up 13.2 percent over the previous year. Product sales to customers in the R&D area rose 10.4 percent compared with the previous year. Business with Industry customers recorded an increase in sales of 3.2 percent compared with the previous year.
 
In terms of products, turbopumps and backing pumps registered the strongest increases from purely organic growth in the first quarter. Sales of instruments and components were outstanding, up 68.7 percent over the previous year. The Group companies acquired in the previous year accounted for a significant EUR 14.9 million of total sales of EUR 50.9 million. Business in Services was pleasantly stable with sales of EUR 27.1 million. Systems business recorded growth of EUR 1.3 million compared with the previous year.
 
In regional terms, Asia was the most significant market, with sales of EUR 66.8 million in the first quarter. Continuing high growth rates resulted in an increase of 25.7% compared with the previous year. North and South America recorded the strongest relative growth of 37.6% compared with the previous year. The companies acquired in 2017 accounted for around 31% of total sales of EUR 41.2 million in the first quarter. The European market is the second-biggest market in terms of sales. Sales of EUR 62.4 million in the first quarter of 2018 were recorded. This equals an increase in sales of 15.9 percent over the previous year.
 
Dr. Eric Taberlet, CEO of Pfeiffer Vacuum Technology AG, pleased by the development of business in the first quarter of the year, comments: "The good sales performance at the start of the year has continued in the first few weeks of the second quarter. Incoming orders and order backlog are notably higher than in the previous year's quarters. Major orders were received at the end of April from two key Asian customers in the market for coatings, with individual orders in the mid- single- digit million range."

A detailed outlook on the expected business development in 2018 will be provided for the upcoming Annual General Meeting on May 23, 2018.
 
Contact
Pfeiffer Vacuum Technology AG
Investor Relations
Dinah Reiss
T +49 6441 802 1346
F +49 6441 802 1365
Dinah.Reiss@pfeiffer-vacuum.de
 
About Pfeiffer Vacuum
Pfeiffer Vacuum (stock exchange symbol PFV, ISIN DE0006916604) is one of the worlds
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 2,900 people and has worldwide
eight production sites and more than 20 subsidiaries.
 
For more information, please visit group.pfeiffer-vacuum.com