euro adhoc: LPKF Laser & Electronics AG
Quarterly or Semiannual
Financial Statements
LPKF: Profit in second quarter leads to almost
balanced first half results (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
The company reports the following first half results:
~
2003 (6 months) 2002 (6 months) change in %
Consolidated sales KEUR 9,538 KEUR 12,870 -25.9%
Consolidated result KEUR -99 KEUR 1,053 -109.4%
EBIT KEUR -292 KEUR 1,684 -117.3%
EBIT margin -3.1% 13.1%
EPS (diluted) EUR -0.01 EUR 0.10 -110.0%
Cash and cash
equivalents KEUR 5,264 KEUR 4,386 20.0%
Capital ratio 70% 69%
~
The current orders in hand at LPKF are EUR 3.25 million (EUR 3.41
million), down 4% on the previous year.Notes on the quarterly results The weakness in the global electronics market also cast a shadow on the development in turnover in the first half 2003. Nevertheless, the second quarter was better than the first and the company succeeded in producing a positive quarterly result of KEUR 118. An even higher profit is forecast for the third quarter. The quarterly result was largely achieved on the strength of successful cost-cutting measures - despite the negative impact of redundancy payments in the second quarter. In addition, the Laser Systems segment was able to increase its turnover from KEUR 2,045 in the first quarter to KEUR 2,690 in the second quarter. The Rapid PCB Prototyping segment achieved a turnover of KEUR 3,986 in the first half (previous year: KEUR 4,687). However, the growth potential in the first half in China was negatively effected by the SARS epidemic. The weakness of the dollar also had a negative impact.
Outlook for 2003 It continues to be very difficult to make a reliable prognosis for the 2003 financial year because of the current situation. However, LPKF still considers that it will be possible to achieve a similar turnover as the previous year. The impact of cost-cutting measures implemented throughout the Group will also have a major impact in the second half. And the Marketing department in particular is pushing ahead with promotions aimed at boosting global sales. All important new products and further developments launched on the market in the first half have been rewarded with sales in the Rapid PCB Prototyping and Cutting Laser segments. More positive effects are expected in the second half.
Results after 30 June 2003 After closing an agreement with Degussa AG, LPKF has now also signed a licence agreement with Bayer AG. This increases the global availability of more thermoplastics relevant to the electronics industry, which improves the marketing opportunities for special laser systems for the production of 3D circuits.
end of announcement euro adhoc 21.08.2003
Further inquiry note:
Ulrike Thoms-von Meding
LPKF Laser & Electronics AG
Tel.: +49(0)5131 7095 382
u.thomsvonmeding@lpkf.de
Branche: Semiconductors & active components
ISIN: DE0006450000
WKN: 645000
Index: CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade