Pfeiffer Vacuum Technology AG

EANS-News: Pfeiffer Vacuum Technology AG
Pfeiffer Vacuum announces results for first nine months of 2012

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Financial Figures/Balance Sheet/quarterly report/9-month report

Subtitle: Development of sales exceeds expectations
Improved earnings
Full-year guidance confirmed

Asslar, November 6, 2012. (euro adhoc) - Pfeiffer Vacuum achieved sales revenues
of EUR 354.3 million during the first nine months of 2012. In a difficult market
environment, this result came in better than expected.

Highlights at a glance:


|                      |9M/2012      |9M/2011*      |Change        |
|                      |             |              |              |
|Sales revenues        |EUR 354.3M     |EUR 405.5M      |- 12.6%       |
|Operating profit      |EUR 53.0M      |EUR 52.8M       |+ 0.4%        |
|(EBIT)                |             |              |              |
|Net income            |EUR 35.3M      |EUR 35.0M       |+ 0.8%        |
|Earnings per share    |EUR 3.56       |EUR 3.53        |+ 0.8%        |
|                      |             |              |              |
|New orders            |EUR 348.2M     |EUR 402.9M      |- 13.6%       |
|Order backlog         |EUR 81.4M      |EUR 88.6M       |- 8.1%        |

|                      |Q3/2012      |Q3/2011*      |Change        |
|                      |             |              |              |
|Sales revenues        |EUR 112.0M     |EUR 120.4M      |- 7.0%        |
|Operating profit      |EUR 16.9M      |EUR 15.9M       |+ 6.4%        |
|(EBIT)                |             |              |              |
|Net income            |EUR 11.4M      |EUR 10.5M       |+ 8.2%        |
|Earnings per share    |EUR 1.14       |EUR 1.06        |+ 7.6%        |
|                      |             |              |              |



* Figures for 2011 adjusted in part to reflect the effects from the purchase
 price allocation carried out retroactively following the acquisition of
 adixen.

"Sales revenues in the third quarter exceeded our expectations", says Manfred
Bender, CEO of Pfeiffer Vacuum. "Continued improvement in profitability is a
particularly positive development. We are right on track in this respect. In
nine months we have already generated an operating cash flow of over EUR 42
million. This figure is up about 18 percent over the previous year.
Furthermore, liquid assets nearing EUR 90 million far outstrip bank liabilities
totaling more than EUR 55 million. This means we are net debt free". Bender
continues: "As far as the full-year result for 2012 is concerned, I believe we
will be able to achieve our low-end target of EUR 470 million. The EBIT margin
will be around the 15 percent mark."

The development of sales in the various key markets was very mixed. This is
true both for market segments as well as for regional distribution. The
distribution of sales revenues according to user markets showed a 6.5 percent
decline in the Semiconductors market to EUR 131.5 million (previous year: EUR
140.7
million). Sales revenues in the Industry market segment decreased by 1.9
percent to EUR 85.1 million and have therefore proved relatively stable
(previous
year: EUR 86.7 million). In Analytics, in contrast, there was an increase of 1.2
percent to EUR 63.0 million (previous year: EUR 62.2 million). Similarly, the
Research and Development segment showed a 1.0 percent improvement in sales
revenues to EUR 40.3 million (previous year: EUR 39.9 million). Only the Coating
market segment recorded a significant downturn. Sales revenues here dropped
54.6 percent to EUR 34.4 million (previous year:
EUR 75.9 million).

In Europe, sales declined by 20.1 percent in the first nine months of 2012 to
EUR
144.4 million (previous year: EUR 180.8 million). Sales in the Asian region
decreased 9.6 percent to EUR 134.5 million (previous year:
EUR 148.8 million). Sales revenues in the Americas remained encouragingly stable
at EUR 74.6 million (previous year: EUR 74.9 million).

Sales revenues according to product groups showed an increase in Service of 3.0
percent to EUR 57.2 million (previous year: EUR 55.6 million). In contrast,
Backing
Pumps experienced a decline of 34.3 percent in sales revenues to EUR 97.4
million
(previous year: EUR 148.3 million). Sales of Turbopumps decreased by 8.9 percent
to EUR 101.1 million (previous year: EUR 111.0 million). In Systems, sales
revenues
almost tripled to EUR 14.7 million (previous year: EUR 5.5 million).

New orders in the first nine months of 2012 amounted to EUR 348.2 million and
were therefore 13.6 percent down on last year's figure (previous year: EUR 402.9
million). The book to bill ratio, the ratio of new orders to sales revenue,
stood at 0.98 as at September 30, 2012 (previous year: 0.99). The order backlog
at EUR 81.4 million was 8.1 percent down on the comparison period (previous
year:
EUR 88.6 million).

A particular feature can be observed when the key earnings figures are compared
to the previous year: after finalizing the purchase price allocation for the
acquisition of adixen, the key earnings figures for 2011 were adjusted
retroactively and therefore differ from the figures posted in the statement for
the first nine months of 2011.

Despite a downturn in sales revenues of 12.6 percent, the gross profit margin
rose by 3.5 percent to 36.3 percent (previous year: 32.8 percent). The
operating profit of EUR 53.0 million was 0.4 percent over the comparison value
(previous year: EUR 52.8 million). This resulted in an operating profit margin
of
15.0 percent (previous year: 13.0 percent) which was exactly in line with the
target for 2012. Net income stood
0.8 percent over the previous year at EUR 35.3 million (previous year: EUR 35.0
million). Earnings per share stood at EUR 3.56 in the first nine months of 2012
(previous year: EUR 3.53).

Please find the complete press release including Consolidated Statements of
Income, Consolidated Balance Sheets, Consolidated Statements of Cash Flows at
www.pfeiffer-vacuum.com



About Pfeiffer Vacuum
Pfeiffer Vacuum (Stock Exchange Symbol PFV, ISIN DE0006916604) is one of the
world's leading providers of vacuum solutions. In addition to a full range of
hybrid and magnetically levitated turbopumps, the product portfolio comprises
backing pumps, measurement and analysis devices, components as well as vacuum
chambers and systems. Ever since the invention of the turbopump by Pfeiffer
Vacuum, the company has stood for innovative solutions and high-tech products
that are used in the markets Analytics, Industry, Research & Development,
Coating and Semiconductor. Founded in 1890, Pfeiffer Vacuum is active
throughout the world today. The company employs a workforce of some 2,300
people and has more than 20 subsidiaries.
For more information, please visit www.pfeiffer-vacuum.com


Further inquiry note:
Brigitte Looß
Leiterin Investor Relations
Tel.: +49 (6441) 802-1346
E-Mail: Brigitte.Loos@pfeiffer-vacuum.de

end of announcement                               euro adhoc 
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company:     Pfeiffer Vacuum Technology AG
             Berliner Str.  43
             D-35614 Aßlar
phone:       +49(0)6441-802-0
FAX:         +49 (6441) 802-1202
mail:     info@pfeiffer-vacuum.de
WWW:      http://www.pfeiffer-vacuum.de
sector:      Machine Manufacturing
ISIN:        DE0006916604
indexes:     TecDAX, CDAX, HDAX, Prime All Share, DAXsector All Industrial
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
             Stuttgart, regulated dealing/prime standard: Frankfurt 
language:   English
 



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