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Pfeiffer Vacuum Technology AG (0FQR)

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Tuesday 04 May, 2010

Pfeiffer Vacuum Technology AG

Pfeiffer Vacuum announces first quarter results




Pfeiffer Vacuum Technology AG / Pfeiffer Vacuum announces first quarter results processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 

·        Sales revenues up significantly in core business

·        Trinos integration on schedule

·        New orders surge



Asslar, Germany, May 4, 2010. For Pfeiffer Vacuum the crisis seems to be over.
The company's order intake in the first quarter 2010 is at € 49.4 million 28.6
percent above the prior year's level of € 38.4 million. When it comes to sales
revenues, Pfeiffer Vacuum's year-on-year comparison for fiscal 2010 is
characterized by a variety of non-recurring effects: A major contract from the
solar industry had a significant positive impact on sales revenues in 2009.
Against this special effect stands the integration of newly acquired subsidiary
Trinos Vakuum-Systeme, which is on schedule and makes a positive contribution to
sales revenues in 2010. Aside from these factors, the results for the first
quarter of 2010 show a clear improvement in the company's core business.



Highlights at a glance:



                                     Q1/2010             Q1/2009     Change



          Sales revenues      € 49.5 million      € 52.0 million    - 4.7 %

 Operating profit (EBIT)      € 11.3 million      € 13.0 million   - 13.2 %

              Net income     €   9.2 million     €   9.1 million    + 1.5 %

      Earnings per share   €            1.08   €            1.07    + 0.9 %



              New orders      € 49.4 million      € 38.4 million   + 28.6 %

          Orders on hand      € 41.7 million      € 47.4 million   - 12.0 %






While Pfeiffer Vacuum's sales revenues for the first quarter of 2010 slipped by
4.7 percent year on year for the above reasons, from € 52.0 million to € 49.5
million, the regional sales mix is an indication of Pfeiffer Vacuum's positive
development on international markets. Sales revenues in Germany declined by
28.6 percent to € 15.7 million due to the special effect from the previous year
(Q1/2009: € 22.0 million). Sales revenues in the other countries of Europe,
however, were up for the first time in five quarters. The increase amounted to
3.9 percent and generated sales revenues of € 14.5 million (Q1/2009: €
13.9 million). Declining moderately by 0.6 percent, sales revenues in the United
States remained largely stable at € 10.0 million (Q1/2009: € 10.1 million). The
strongest development was seen by all of the countries in the Asia region,
especially Japan. Sales revenues in Asia and the rest of the world rose by 57.4
percent, from € 5.9 million in the first quarter of 2009 to € 9.3 million in
2010. In no region did currency translation effects play a major role.



In addition to the recovery in the company's core business, the sales revenue
mix by markets, too, was impacted by the fact that the year-on-year comparison
was characterized by the one-time effect. As a result of the sales revenues
under a major contract from the solar industry the year before, the Coating
segment recorded a 59.9-percent decline in sales revenues to € 7.1 million
(2009: € 17.7 million). On the other hand, sales revenues in all other market
segments increased significantly. In the Analytical Industry market segment
sales revenues rose by 25.1 percent to € 13.8 million (Q1 2009: €
11.1 million). Following its strong growth throughout the entire 2009 fiscal
year, the Research & Development segment again advanced in the first quarter of
2010, with sales revenues rising by 28.6 percent to € 11.1 million, by
comparison with € 8.6 million the year before. The Industrial market segment
also saw encouraging sales revenue growth of 18.9 percent, from € 9.2 million in
the first quarter of 2009 to € 10.9 million in 2010. The strongest relative
growth was recorded in the Semiconductor segment, where the company benefits
from the current boom, with sales revenues rising by 77.8 percent to € 4.4
million (2009: € 2.5 million). In the Chemical and Process Technology segment,
sales revenues decreased to € 2.2 million (2009: € 2.9 million).



The company's continuing strong profitability is reflected in the Operating
Profit which is in absolute terms € 11.3 million and therefore 13.2 percent
below the prior year's period. However, the operating margin could be improved
to 22.7 percent in comparison to total year 2009 which was at 20.8 percent.
Aside from product mix, effects from economies of scale as well as the improved
efficiency through the modernization of the production processes contributed to
this development. Net Earnings per share amounted to € 1.08 (Q1/2009: € 1.07).



Pfeiffer Vacuum Chief Executive Officer Manfred Bender commented as follows on
these results: "After a serious global economic crisis, our business has
recovered amazingly quickly. The level of new orders, in particular, gives me
reason for optimism about the full fiscal year. Both our core business as well
as Trinos' business is developing splendidly. The reorganization of our
production plant as well as the acquisition of Trinos came exactly at the right
point in time and bear now first fruits." The company will announce its guidance
for the full 2010 fiscal year at the Annual Shareholders Meeting on May
20, 2010.


Please find further information such as the Balance Sheet, Income and Cash Flow
Statements at www.pfeiffer-vacuum.net


Contact:

Pfeiffer Vacuum Technology AG

Investor Relations

Dr. Brigitte Loos

Phone +49 (0) 6441 802 346

Fax +49 (0) 6441 802 365

[email protected]



[HUG#1411378]



 --- End of Message --- 

Pfeiffer Vacuum Technology AG
Berliner Strasse 43 Asslar Germany

WKN: 691660;ISIN: DE0006916604;Index:TecDAX,Prime All Share,CDAX,TECH All Share,HDAX,MIDCAP;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München,
Freiverkehr in Niedersächsische Börse zu Hannover,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;




  



                                                                                                                                                                                                          

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