DGAP-News: Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum reports sound performance in fiscal year 2019
Net income declined to EUR 48.4 million (previous year: EUR 68.9 million) representing earnings per share of EUR 4.90 (previous year: EUR 6.98).
DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Annual Results Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum reports sound performance in fiscal year 2019 (news with additional features) 26.03.2020 / 07:30 The issuer is solely responsible for the content of this announcement. PRESS RELEASE Pfeiffer Vacuum reports sound performance in fiscal year 2019 Compared to the previous year, when Pfeiffer Vacuum reached sales at a record level, sales decreased by 4.1% in 2019 (2018: EUR 659.7 million), primarily driven by challenging market conditions in the coating market and a weaker demand from semiconductor customers. This was partly offset by a strong performance in the industry market segment and the growth in the R&D and analytics markets. The operating result (EBIT) decreased by 31.5% (previous year: EUR 95.1 million) and the EBIT margin was 10.3% (previous year: 14.4%). The decrease in sales put pressure on operating results. In addition, increased expenses to drive market share growth and to improve the EBIT margin to over 20% by 2025 as outlined in the company's growth strategy had a negative effect on the operating performance. The book-to-bill ratio, the ratio of order intake to sales, was 0.95 for the full year. At the end of the fourth quarter, Pfeiffer Vacuum had an order backlog of EUR 110.7 million, representing a decrease of 23.6% compared to the previous year (EUR 144.9 million). The Management and Supervisory Boards will propose to pay out a dividend of EUR 1.25 per share (previous year: EUR 2.30) at the Annual General Meeting. This takes into consideration the increased expenses related to the implementation of the growth strategy, which were especially significant in 2019, the expected investments in 2020, as well as the Coronavirus situation. The payout ratio would thus represent 25.5% of the Group result. "2019 was a year of preparing for the transformation of the company to an even stronger market position in the high-vacuum market and to drive operational efficiencies," says Dr. Eric Taberlet, CEO of Pfeiffer Vacuum Technology AG. "Our focus for 2020 is first and foremost on managing through the Coronavirus related business challenges and protecting the health and safety of our employees as well as meeting our customers' needs."
*Subject to approval by the Annual General Meeting Net income declined to EUR 48.4 million (previous year: EUR 68.9 million) representing earnings per share of EUR 4.90 (previous year: EUR 6.98). Innovation leadership and strengthening of production capabilities Contact About Pfeiffer Vacuum
Additional features: Document: https://eqs-cockpit.com/c/fncls.ssp?u=BAUYKUJWJK Document title: Pfeiffer Vacuum FY 2019 Financial Results
26.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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: | SDAX, TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1007277 |
End of News | DGAP News Service |
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