15.05.2013
LPKF Laser & Electronics AG DE0006450000
DGAP-News: LPKF makes a strong start to 2013
DGAP-News: LPKF Laser & Electronics AG / Key word(s): Quarter Results
LPKF makes a strong start to 2013
15.05.2013 / 11:24
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Laser machines for micro material processing continue to gain ground
Garbsen, 15 May 2013 - Specialty mechanical engineering company LPKF has
made an excellent start to the 2013 financial year. The Group, which today
published its first quarterly financial report for 2013, posted revenue of
EUR 33 million, a more than 60 percent increase on the same quarter last
year.
The positive trend in revenue was also reflected in terms of earnings: At
around EUR 7 million, earnings before interest and taxes (EBIT) rose 200
percent year on year. The EBIT margin was 20% (previous year: 11%).
A key reason for the positive EBIT trend was the strong performance of
business with systems for laser direct structuring (LDS), a technology that
has so far been used mainly in the manufacture of antennas for smartphones,
laptops and tablet PCs. In recent months, an increasing number of systems
were ordered by Asian customers.
The company had to accept a setback in litigation involving the defense of
the LDS patent in China. The Chinese Patent Office had declared the LDS
patent invalid in May 2012. This ruling has now been upheld by a Chinese
appellate court.LPKF believes that the decision in the case is incorrect
and is investigating further remedies that would allow the proceedings to
be reopened. The loss of the patent in China would make producing and
selling counterfeit LDS components legal within China. However, by far the
majority of the LDS components manufactured in China are exported to
countries in which LPKF continues to have unbroken LDS patent protection.
This means that both currently and going forward, only original LDS
components can legally be exported outside of China. LPKF will continue to
work to protect the LDS patent outside of China and will litigate patent
infringement.
Alongside LDS, the other segments also contributed to the positive
development of business. Without exception, all three segments have started
the new year with sales growth of more than 20%. In the first three months,
the Group's workforce rose from 690 to 706 employees.
Laser technology continues to displace other systems for the production of
particularly small and sensitive components. More and more LPKF machinery
(Welding Equipment) is being deployed for plastics joining applications.
Based in Erlangen, this product group has seen strong growth for a number
of years while also further improving profitability in 2012. Revenue growth
has been hindered solely by capacity bottlenecks at the site. This should
be resolved in the current financial year by relocation to larger
production and office facilities. This investment has a volume of around
EUR 14 million.
The strong revenue in the first quarter of 2013 was due in part to a large
order from the solar industry, which will be completed as planned by
mid-2014. In view of the continuing weakness of the solar market, LPKF is
preparing for a decline in revenue in the Solar Equipment product group in
the current year and therefore expects a temporary slowdown in the
development of consolidated revenue for 2013. Added to this is low
visibility in other product groups with the exception of Welding Equipment.
On the whole, the Management Board confirms the forecast it made in
November of 2012 and expects the LPKF Group to generate revenue of EUR 115
to EUR 120 million for 2013 assuming stable performance by the global
economy. Revenue growth is planned for all segments outside the solar
energy business. The EBIT margin should be between 15% and 16% in 2013.The
Management Board expects a stable economic environment in both 2014 and
2015, with revenue growth of 10% per year on average and a slight increase
in the EBIT margin.
The company's strong growth has also been reflected in the capital market,
with the result that the share price has now risen above the EUR 20 mark
for the first time in many years. In view of the highly positive
development of operations in 2012 and the good prospects for the current
financial year, the Management Board and the Supervisory Board intend to
propose to the Annual General Meeting on 23 May 2013 that a dividend of EUR
0.50 per share be paid.
The full quarterly report is available in German at
www.lpkf.de/investor-relations/finanzberichte/index.htm and in English at
www.lpkf.com/investor-relations/financial-reports/index.htm. LPKF will be
holding a conference call (in English) for analysts and investors on 15 May
2013 at 4.00 pm (CET). The conference call will later be available for
download from the company's website.
About LPKF
LPKF Laser & Electronics AG specializes in the production of laser systems
for micro material processing, a field in which it is the world leader in
several sectors. Founded in 1976, the Group has its headquarters in Garbsen
near Hannover in Germany and does business around the world together with
its subsidiaries and representatives. LPKF has 706 employees globally. The
shares in LPKF Laser & Electronics AG are traded on TecDAX index of the
Frankfurt Stock Exchange (ISIN 0006450000).
End of Corporate News
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Language: English
Company: LPKF Laser & Electronics AG
Osteriede 7
30827 Garbsen
Germany
Phone: +49 (0) 5131 7095-0
Fax: +49 (0) 5131 7095-95
E-mail: [email protected]
Internet: www.lpkf.com
ISIN: DE0006450000
WKN: 645000
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
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