Pfeiffer Vacuum Technology AG, a leading global manufacturer of vacuum solutions, today announced preliminary results for the fiscal year 2020.
DGAP-News: Pfeiffer Vacuum Technology AG
/ Key word(s): Preliminary Results/Annual Results
Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum ends financial year 2020 with strong Q4 sales and increased order intake
23.02.2021 / 08:53
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Pfeiffer Vacuum ends financial year 2020 with strong Q4 sales and increased order intake
Asslar, February 23, 2021. Pfeiffer Vacuum Technology AG, a leading global manufacturer of vacuum solutions, today announced preliminary results for the fiscal year 2020. The company reported sales of EUR 618.7 million, an operating result (EBIT) of EUR 45.3 million, including one-off impairment losses of EUR 8.8 million, and an EBIT margin of 7.3%.
Compared to the previous year, sales decreased slightly by 2.2% (previous year: EUR 632.9 million), primarily driven by challenging market conditions due to the Corona pandemic and the resulting global economic impact. The fourth quarter 2020 was the strongest quarter of the year with sales contributing EUR 164.8 million or 26.6% to the full year sales 2020 (Q4 2019: EUR 165.5 million).
The operating result (EBIT) decreased by 30.5% to EUR 45.3 million (previous year: EUR 65.2 million) and the EBIT margin decreased by 3.0 percentage points to 7.3%, compared to the previous year (previous year: 10.3%). The operating performance was under pressure due to expenses related to the Corona pandemic, increased expenses to drive market share growth and profitability, as well as one-off impairment losses related to intangible assets, primarily goodwill.
The book-to-bill ratio, the ratio of order intake to sales, was 1.02 for the full year. At the end of the fourth quarter, Pfeiffer Vacuum had an order backlog of EUR 123.3 million, an increase of 11.4% compared to the previous year (EUR 110.7 million). With a strong order intake of EUR 170.0 million in Q4 2020 (+14.3% q-o-q), order intake amounted to EUR 631.3 million (+5.4% y-o-y) in the full year 2020.
"During the Corona pandemic in 2020, we successfully averted almost any disruption for our customers," says Dr. Britta Giesen, CEO of Pfeiffer Vacuum Technology AG. "We will continue in our transformation process to drive growth and profitability and are optimistic that we will be able to grow sales and improve operating results in 2021."
Overview of key figures (unaudited):
The audited Consolidated Financial Statements are scheduled to be published on March 25, 2021.
The Management Board decided today to propose to the Supervisory Board and the Annual General Meeting to pay out a dividend of EUR 1.60 per share (previous year: EUR 1.25). The proposed dividend increase compared to the previous year was made against the background of a solid liquidity position of Pfeiffer Vacuum in 2020 and takes into account the reduced dividend in 2020 due to the uncertainties in predicting the effects of the Corona pandemic at that time.
Pfeiffer Vacuum Technology AG
T +49 6441 802 1360
About Pfeiffer Vacuum
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, leak detectors, 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. Founded in 1890, Pfeiffer Vacuum is active worldwide. The Company employs approximately 3,300 employees, has over 20 sales and service companies, and operates 10 manufacturing sites worldwide.
For more information, please go to: group.pfeiffer-vacuum.com
23.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Pfeiffer Vacuum Technology AG|
|Berliner Str. 43|
|Phone:||+49 6441 802-0|
|Fax:||+49 6441 802-1365|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1170302|
|End of News||DGAP News Service|