26.03.2015
Pfeiffer Vacuum Technology AG DE0006916604
DGAP-News: Pfeiffer Vacuum Technology AG: Announcement of FY 2014 results
DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Final Results
Pfeiffer Vacuum Technology AG: Announcement of FY 2014 results
26.03.2015 / 07:30
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PRESS RELEASE
Pfeiffer Vacuum announces results for FY 2014
- Total sales of EUR 406,6 million
- EBIT margin at 11,0 percent
- Dividend proposal of 2.65 euros
Asslar, Germany, March 26, 2015. Total sales for FY 2014 which had already
been preliminarily announced and have meanwhile been audited amounted to
EUR 406.6 million. This represents a decrease of 0.5 percent (previous
year: EUR 408.7 million). Operating profit (EBIT) amounted to EUR 44.7
million (previous year: EUR 50.5 million). As a result, the operating
profit margin (EBIT margin) for FY 2014 amounted to 11.0 percent and, thus,
was 1.4 percentage points lower than the previous year's figure of 12.4
percent.
The Management and Supervisory boards have proposed an unchanged dividend
of EUR 2.65 per share. The payout ratio therefore would amount to around 81
percent of consolidated net income.
Key figures at a glance:
FY 2014 FY 2013 Change
Sales EUR 406.6m EUR 408.7m -0.5%
Operating profit (EBIT) EUR 44.7m EUR 50.5m -11.4%
Net income EUR 32.4m EUR 34.8m -6.9%
EPS EUR 3.29 EUR 3.53 -6.9%
Dividend per share EUR 2.65* EUR 2.65 +/-0.0%
Order intake EUR 404.9m EUR 398.0m +1.7%
Order backlog EUR 59.3m EUR 61.1m -2.9%
* Subject to the approval of the Annual General Meeting.
Manfred Bender, CEO of Pfeiffer Vacuum Technology AG, comments: "Order
intake in the fourth quarter was more than ten million euros higher than in
the previous quarters. This development, including orders received in the
first two months of FY 2015, shows that the year has started off
positively. For this reason as well as our strong balance sheet and the
improved operating cash flow, we prefer to keep the dividend payment stable
for FY 2014 despite slightly lower net earnings. As a result, management
and the supervisory board will propose a dividend of EUR 2.65 per share at
the AGM in May. The investment in the economic potential of vacuum
technology will remain worthwhile in the future."
In context of regional sales, Europe posted a slight increase of 0.6
percent to EUR 183.2 million (previous year: EUR 182.1 million) while sales
in Asia receded by 9.4 percent to EUR 130.3 million (previous year: EUR
143.9 million). The development in the Americas was very pleasing where
sales increased by 13.7 percent to EUR 92.6 million (previous year: EUR
81.4 million).
Sales of turbopumps remained approximately stable at EUR 124.7 million
(previous year: EUR 125.3 million). Instrument and component sales
experienced a decline of 4.2 percent to EUR 96.9 million (previous year:
EUR 101.1 million). Revenues from backing pumps fell by 2.9 percent to EUR
89.4 million (previous year: EUR 92.1 million). Service revenues rose by
4.1 percent to EUR 85.0 million (previous year: EUR 81.7 million). Finally,
systems sales saw a development of plus 25.5 percent to EUR 10.6 million
(previous year: EUR 8.5 million).
The sales split by market segments shows sales of EUR 118.4 million
(previous year: EUR 123.4 million) in the semiconductor market. This
represents a decline of 4.1 percent. In the heterogeneous market segment
industry there was a sales increase of 2.2 percent to EUR 107.2 million
(previous year: EUR 104.9 million). Sales in the analytical market segment
fell by 1.2 percent to EUR 78.7 million (previous year: EUR 79.6 million).
The research and development market segment remained approximately stable
at EUR 55.2 million (previous year: EUR 55.1 million) while coating sales
grew by 3.0 percent to EUR 47.1 million (previous year: EUR 45.7 million).
Gross profit for the reporting period amounted to EUR 143.4 million
(previous year: EUR 149.4 million). This meant that the gross profit margin
declined by 1.2 percentage points to 35.3 percent (previous year: 36.5
percent). The operating profit (EBIT) amounted to EUR 44.7 million. It was
11.4 percent below the previous year's figure of EUR 50.5 million. This
corresponds to an operating profit margin (EBIT margin) of 11.0 percent
(previous year: 12.4 percent).
The financial result increased to EUR -0.5 million (previous year: EUR -0.6
million) and the tax rate amounted to 26.8 percent (previous year: 30.3
percent). This resulted in net income of EUR 32.4 million which represents
a decrease of 6.9 percent (previous year: EUR 34.8 million). Earnings per
share amounted to EUR 3.29 (previous year: EUR 3.53), also representing a
decline of 6.9 percent.
Despite the payment of the high dividend, Pfeiffer Vacuum was able to
increase its net cash position to EUR 70.3 million as at December 31, 2014
(previous year: EUR 53.6 million). The equity ratio rose to 65.2 percent
(previous year: 64.1 percent).
For FY 2015 Pfeiffer Vacuum expects a noticeable sales increase compared to
FY 2014. This is expected to coincide with a noticeable improvement of the
EBIT margin compared to FY 2014.
Attachments: Income statement, balance sheet and cash flow statement.
Contact
Pfeiffer Vacuum Technology AG
Investor Relations
Eerik Budarz
T +49 6441 802 1346
F +49 6441 802 1365
[email protected]
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 Semiconductor. Founded in
1890, Pfeiffer Vacuum is globally active today. The company employs a
workforce of some 2,250 people and has more than 20 subsidiaries.
For more information, please visit www.pfeiffer-vacuum.com
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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: [email protected]
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
End of News DGAP News-Service
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