LPKF Laser & Electronics AG

euro adhoc: LPKF Laser & Electronics AG
Annual Reports
LPKF achieves improved Group results in 2003 and proposes payment of a dividend (E)

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The Group generated the following results in 2003:
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                                          2003                        2002                Change
Turnover KEUR                  22,667                    25,299                -10%
Profit KEUR                          768                         634                +21%
Net margin                          3.4%                        2.5%                +36%
EBIT KEUR                          1,300                      1,442                -10%
EBIT margin                         5.7%                        5.7%
EPS EUR                                0.07                        0.06                +17%
Financial resources KEUR  5,999                      5,365                +12%
Capital ratio                        71%                         68%
Current orders
in hand KEUR                      2,118                      4,631                -54%
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The Board of Directors and the Supervisory Board propose the payment
of a dividend of  EUR 0.03 per share for the 2003 financial year.

Notes on the annual results: Despite the weakness of the global economy and the associated reduced willingness of the electronics industry to invest, LPKF again successfully generated a profit in the 2003 financial year. Especially the Laser Cutting and Drilling segment experienced a reduced turnover compared to the previous year due to a continuous investment reduction within the PCB industry. However, the timely implementation of cost-cutting measures stabilised the EBIT margin and slightly improved the consolidated profit.

Outlook for 2004: Against the background of a clear improvement throughout the world in the willingness to invest, together with increases in marketing expenditure and the feedback gained from trade fairs  and customers, the Board of Directors forecasts that 2004 will enjoy a double figure percentage rise in turnover and an improved EBIT. Orders received and orders in hand will most probably push Q1 2004 turnover above last year’s level. It is also essential for LPKF that the current negative exchange rate effects decrease in future with the US-Dollar gaining in strength.

The company expects that the Rapid PCB Prototyping and Laser Cutting and Drilling segments will increase their turnover and profits supported by the recovery of the electronics industry and the numerous technical innovations.

The new 3D-MID technology will most probably have a positive effect on LPKF’s business in 2004 and the following years. Thanks to the licence agreements closed last year with Degussa AG, Bayer AG and Ticona GmbH, as well as the cooperation agreement concluded with the Harting Technology Group, there are now numerous new applications close to being launched on the market. Additional licence and cooperation agreements with companies in the plastics and electronics industries are also currently being negotiated. The first end customers have been supplied successfully. The segment MicroLine Laser including sensorics will presumably experience secondary orders in 2004 which will have a positive effect on the results of 2005.

end of announcement            euro adhoc 23.03.2004
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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



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