02.08.2018 Pfeiffer Vacuum Technology AG  DE0006916604

DGAP-News: Pfeiffer Vacuum: H1 2018 Sales increase by 22.4% compared to the previous year


 
DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Half Year Results Pfeiffer Vacuum: H1 2018 Sales increase by 22.4% compared to the previous year 02.08.2018 / 07:59 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PRESS RELEASE Pfeiffer Vacuum: H1 2018 Sales increase by 22.4% compared to the previous year - Sales increase to EUR 338.2 million: +22.4% - EBIT reaches EUR 47.8 million: +36.2% - EBIT-margin: 14.1%, adjusted: 15.3% - Order intake: EUR 174 million in Q2 2018 Asslar, August 2, 2018. Pfeiffer Vacuum, a leading global manufacturer of vacuum solutions, managed to increase sales by 22.4% to EUR 338.2 million compared to the previous year, a continuation of its encouraging start to the first half of the year. Of its total sales, EUR 33.4 million was generated by the companies acquired in 2017, which allowed for growth of 12.9% from stock units to be recorded. EBIT rose to EUR 47.8 million or by 36.2%. The EBIT-margin was 14.1%. Adjusted for PPA-effects, EBIT reached EUR 51.7 million at an adjusted EBIT-margin of 15.3%. The order intake in the second quarter, which was again positive at EUR 174.0 million, indicates the expected delays in orders from semiconductor customers. Accordingly subdued development has been confirmed for the second half of the year. The book-to-bill ratio as of June 30, 2018 amounted to 1.09. Overview of key figures: H1 2018 H1 2017* Change Sales EUR 338.2 million EUR 276.2 million +22.4% thereof from acquisitions EUR 33.4 million EUR 6.2 million EBIT EUR 47.8 million EUR 35.1 million +36.2% Adjusted EBIT EUR 51.7 million EUR 35.9 million +43.8% H1 2018 H1 2017* Change Net result EUR 34.4 million EUR 24.2 million +41.9% Earnings per share EUR 3.48 EUR 2.46 +41.5% Order intake EUR 368.0 million EUR 318.5 million +15.5% thereof from acquisitions EUR 37.9 million EUR 22.9 million Order backlog EUR 157.2 million EUR 114.6 million +37.2% Q2 2018 Q2 2017* Change Sales EUR 167.8 million EUR 139.3 million +20.5% thereof from acquisitions EUR 17.3 million EUR 4.1 million EBIT EUR 20.3 million EUR 13.9 million +45.8% Adjusted EBIT EUR 22.3 million EUR 14.6 million +52.9% Q2 2018 Q2 2017* Change Net result EUR 14.6 million EUR 9.6 million +52.9% Earnings per share EUR 1.48 EUR 0.79 +52.6% Order intake EUR 174.0 million EUR 172.0 million +1.2% thereof from acquisitions EUR 20.9 million EUR 18.8 million +13% H1 and Q2 2017 values adjusted in some cases according to effects from the purchase price allocation for the companies Nor-Cal, ATC and Dreebit, which was carried out retroactively Nathalie Benedikt, CFO comments: "Pfeiffer Vacuum was able to increase sales and earnings in the second quarter. We are in line with the three-year investment program. In the first half of the year, investments amounting to approximately EUR 20 million were commissioned in machines, buildings and IT infrastructure. In the second quarter EUR 8.9 million has been capitalized." Additional sales were gained across all business units in the first half of the year. Business in the coatings market developed exceptionally well with an increase of 62.1% to a volume of EUR 53.8 million. Announcements of cuts in public funds for solar energy feed in tariffs by the Chinese government do not have an impact on our business according to current estimates. In the semiconductor customer market, sales increased by 26.9% to a record volume of EUR 136.1 million. Analytics business increased by 21.1% to EUR 57.7 million compared to the same period in the previous year. Sales increased by 6.7% to EUR 29.5 million with research and development customers. At EUR 61.2 million, sales were stable in the heterogeneous business with industrial customers compared to the previous year. According to product groups, turbopumps and backing pumps, with sales of EUR 94.4 million and EUR 80.6 million, achieved the highest organically generated growth compared to the previous year of 13.3% and 18.9%, respectively. Business in instruments and components recorded a significant volume in the first half of the year of EUR 100.1 million, rising by 52.6%. This figure includes acquisition-related growth of EUR 30.6 million. Systems showed an extremely pleasing performance with an increase of 57.0% compared to the previous year to a volume of EUR 8.5 million. Service achieved slightly improved sales compared to the previous year of EUR 54.7 million. From a regional perspective, Asia continues to be the most important sales market for vacuum solutions, with a sales volume of EUR 133.1 million. This is followed by Europe with sales of EUR 120.0 million in the first half of the year and North and South America with EUR 85.1 million. In relative terms, especially taking into account the acquisition-related share of sales of EUR 26.4 million, North and South America showed the largest increase by far of 36.4% compared to the previous year. In a quarter on quarter analysis gross margin was reduced by 4.3 percentage points to 33.5% in the second quarter, due to the product and customer mix and a lower amount of production days because of federal holidays and vacation days. For Dr. Eric Taberlet, CEO of Pfeiffer Vacuum Technology AG, the figures confirm the expected developments. "The latest market data from the semiconductor industry and the delays in the capacity extensions of our customers relativize the record levels from the beginning of the year. Nevertheless, we are convinced that we will achieve our goals for the year as a whole. The increased momentum in implementing our strategy will allow us to expand our locations in Romania, North America and Vietnam in the second half of the year." Contact Pfeiffer Vacuum Technology AG Investor Relations Dinah Reiss T +49 6441 802 1346 F +49 6441 802 1365 [email protected] Short profile Pfeiffer Vacuum (ticker symbol PFV, ISIN DE0006916604) is a leading global manufacturer of vacuum solutions. Among a full range of hybrid and magnetically levitated turbopumps, the portfolio comprises backing pumps, measurement and analysis devices, components and vacuum chambers and systems. Pfeiffer Vacuum has stood for innovative solutions and high-tech products in analytics, industry, research & development, coating and semiconductor markets since its invention of the turbopump over 125 years ago. Founded in 1890, Pfeiffer Vacuum is active worldwide today. Pfeiffer Vacuum has eight manufacturing sites in Europe, Asia and North America. The company employs approx. 3,000 employees worldwide and has over 20 sales and service companies. For more information, please go to: group.pfeiffer-vacuum.com Consolidated Statements of Income (unaudited) PFEIFFER VACUUM TECHNOLOGY AG Three Six months months ended ended June June 30, 30, 2018 2017 2018 2017 adjuste- adjuste- d1 d1 in KEUR in KEUR in KEUR in KEUR Net sales 167,791 139,290 338,212 276,237 Cost of sales -111,56- -90,726 -217,58- -175,18- 4 3 0 Gross profit 56,227 48,564 120,629 101,057 Selling and -17,816 -15,068 -35,350 -29,485 marketing expenses General and -13,210 -13,255 -25,762 -24,008 administrative expenses Research and -7,223 -6,829 -14,050 -13,401 development expenses Other operating 3,419 4,264 5,402 6,222 income Other operating -1,100 -3,752 -3,116 -5,336 expenses Operating profit 20,297 13,924 47,753 35,049 Financial expenses -153 -233 -346 -320 Financial income 73 46 135 78 Earnings before 20,217 13,737 47,542 34,807 taxes Income taxes -5,600 -4,176 -13,169 -10,581 Net income 14,617 9,561 34,373 24,226 Earnings per share (in EUR): Basic 1.48 0.97 3.48 2.46 Diluted 1.48 0.97 3.48 2.46 1 Due to the completion of the purchase price allocation for the Dreebit, ATC and Nor-Cal acquisitions in fiscal 2017 some of the amounts shown above were adjusted retroactively and thus differ from the amounts reported in the Half Year Financial Statements for the second quarter 2017. Consolidated Balance Sheets (unaudited) PFEIFFER VACUUM TECHNOLOGY AG June Decembe- 30, r 31, 2018 2017 in KEUR in KEUR Assets Intangible assets 109,565 110,814 Property, plant and 112,207 106,949 equipment Investment 436 448 properties Deferred tax assets 23,000 23,037 Other non-current 4,825 3,840 assets Total non-current 250,033 245,088 assets Inventories 125,735 113,384 Trade accounts 88,152 80,061 receivable Income tax 2,879 3,159 receivables Prepaid expenses 4,227 2,475 Other accounts 12,652 11,792 receivable Cash and cash 97,167 97,402 equivalents Total current assets 330,812 308,273 Total assets 580,845 553,361 Shareholders' equity and liabilities Share capital 25,261 25,261 Additional paid-in 96,245 96,245 capital Retained earnings 244,385 229,747 Other equity -27,717 -30,316 components Equity of Pfeiffer 338,174 320,937 Vacuum Technology AG shareholders Financial 60,215 60,248 liabilities Provisions for 51,248 50,034 pensions Deferred tax 4,037 3,988 liabilities Total non-current 115,500 114,270 liabilities Trade accounts 41,519 40,814 payable Customer deposits 12,850 7,678 Other accounts 26,029 22,333 payable Provisions 39,349 39,894 Income tax 7,225 7,354 liabilities Financial 199 81 liabilities Total current 127,171 118,154 liabilities Total shareholders' 580,845 553,361 equity and liabilities Consolidated Statements of Cash Flows (unaudited) PFEIFFER VACUUM TECHNOLOGY AG Six months ended June 30, 2018 2017 adjuste- d1 in in KEUR KEUR Cash flow from operating activities: Net income 34,373 24,226 Depreciation/amortization 10,256 9,599 Other non-cash income/expenses 1,022 518 Effects of changes of assets and liabilities: Inventories -12,63- -10,628 3 Receivables and other assets -10,86- -744 4 Provisions, including pensions, and income tax 380 -1,549 liabilities Payables, other liabilities 9,334 5,213 Net cash provided by operating activities 31,868 26,635 Cash flow from investing activities: Payments for acquisitions - -74,594 Capital expenditures -12,52- -12,342 9 Proceeds from disposals of fixed assets 129 82 Net cash used in investing activities -12,40- -86,854 0 Cash flow from financing activities: Proceeds from increase of financial liabilities 77 70,000 Dividend payment -19,73- -35,524 5 Redemptions of financial liabilities - -15,661 Net cash provided by/used in financing activities -19,65- 18.815 8 Effects of foreign exchange rate changes on cash -45 314 and cash equivalents Net change in cash and cash equivalents -235 -41,091 Cash and cash equivalents at beginning of period 97,402 110,032 Cash and cash equivalents at end of period 97,167 68,941 1 Due to the completion of the purchase price allocation for the Dreebit, ATC and Nor-Cal acquisitions in fiscal 2017 some of the amounts shown above were adjusted retroactively and thus differ from the amounts reported in the Half Year Financial Statements for the second quarter 2017. --------------------------------------------------------------------------- 02.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- 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 Indices: TecDAX 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 --------------------------------------------------------------------------- 710329 02.08.2018


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 586,96 659,73 632,87 618,67 771,37 916,71 950,00
EBITDA1,2 92,21 113,72 89,38 66,20 114,00 150,60 148,00
EBITDA-Marge3 15,71 17,24 14,12 10,70 14,78 16,43
EBIT1,4 71,39 95,13 65,15 45,30 93,09 119,37 114,00
EBIT-Marge5 12,16 14,42 10,29 7,32 12,07 13,02 12,00
Jahresüberschuss1 53,85 68,88 48,36 31,59 61,99 86,35 78,00
Netto-Marge6 9,17 10,44 7,64 5,11 8,04 9,42 8,21
Cashflow1,7 71,40 62,55 65,38 59,19 91,58 46,96 0,00
Ergebnis je Aktie8 5,47 6,98 4,90 3,20 6,28 8,75 7,90
Dividende8 2,00 2,30 1,25 1,60 4,08 0,11 3,60
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

INVESTOR-INFORMATIONEN
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Pfeiffer Vacuum
WKN Kurs in € Einschätzung Börsenwert in Mio. €
691660 156,000 Kaufen 1.539,35
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
16,51 25,79 0,64 27,81
KBV KCV KUV EV/EBITDA
2,63 32,78 1,68 10,66
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,11 7,32 4,69 05.07.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
12.08.2024 02.11.2023 25.04.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-0,26% 3,12% 1,17% 1,43%
    
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