EANS-News: LPKF Laser & Electronics AG Miniaturization brings momentum
LPKF reports stronger growth than expected
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Financial Figures/Balance Sheet/Laser Technology
Garbsen (euro adhoc) - Mechanical engineering specialist LPKF today announced
yet another record revenue of EUR 115 million for financial year 2012, thus
surpassing the previous year's figure by 26%. Earnings before interest and taxes
(EBIT) came in at EUR 20 million, a year-on-year increase of 34%. The EBIT
margin was 18%.
At revenue of EUR 33 million and EBIT of EUR 6 million, the fourth quarter was
stronger than expected. The EBIT margin was 17% during this period.
The ongoing trend for miniaturization of electronic equipment is paving the way
for the use of laser technology in the industrial production of especially small
or delicate parts. The Garbsen-based laser specialist is benefiting from this
trend because its machines are replacing conventional production techniques such
as punching, milling or the use of adhesives.
The 2012 financial year was impacted by a major order from the solar energy
industry. But other product groups also showed a very dynamic development. The
biggest source of revenue in the Electronics Production Equipment segment was
the business with laser direct structuring (LDS) systems, which picked up
momentum especially in the year's second half. Laser systems for depanelling
circuit boards (PCB Production Equipment) also performed very well.
To further propel the strong growth in the plastic welding business (Welding
Equipment), LPKF plans to expand capacity at its Erlangen site significantly
this year by purchasing a building. This investment has a total volume of around
EUR 14 million.
The number of employees at LPKF grew by 88 to 690 in 2012.
In view of the solid development of operations in 2012 and the good prospects
for the new financial year, the Management Board and the Supervisory Board
intend to propose to the Annual General Meeting on 23 May 2013 that a dividend
of EUR 0,50 per share be paid. Based on the closing price for 2012, this would
correspond to a dividend yield of 3,2%. The performance of the LPKF share, which
is listed on the TecDAX index, also was reason to celebrate for the company's
shareholders: In the 2012 financial year, the share gained 66% to close at EUR
15.75.
Outlook:
Since a large portion of the solar energy order was completed in 2012, the
company is expecting a noticeable drop in revenue in its Solar Module Equipment
business in 2013. However, plans are to compensate for this decline by recording
growth in other areas.
On the whole, the Management Board expects the LPKF Group to generate revenue of
EUR 115 to EUR 120 million for 2013 assuming stable performance by the global
economy. Revenue growth is planned for all segments outside the solar energy
business. Provided the material cost ratio remains largely the same, staff costs
rise due to the new hires and other expenses stay near current levels, costs
will rise somewhat more sharply than revenue. The EBIT margin should be between
15% and 16% in 2013.
The Management Board expects a stable economic environment in both 2014 and
2015, with revenue growth of approximately 10% per year on average and a slight
increase in the EBIT margin.
The full 2012 annual report is available in German at
www.lpkf.de/investor-relations/finanzberichte/index.htm and in English at
www.lpkf.com/investor-relations/financial-reports/index.htm
LPKF will be holding a conference call (in English) for analysts and investors
on 26 March 2013 at 4.00 pm (CET). The conference call will later be available
for download from the company's website.
About LPKF
LPKF Laser & Electronics AG specializes in the production of laser systems for
micro material processing, a field in which it is the world leader in several
sectors. Founded in 1976, the Group has its headquarters in Garbsen near
Hannover in Germany and does business around the world together with its
subsidiaries and representatives. LPKF has 690 employees globally. The shares
in LPKF Laser & Electronics AG are traded on TecDAX index of the Frankfurt Stock
Exchange (ISIN 0006450000).
Further inquiry note:
LPKF Laser & Electronics AG
Bettina Schäfer, Investor Relations Manager (CIRO)
Tel: (05131) 7095-1382
end of announcement euro adhoc
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company: LPKF Laser & Electronics AG
Osteriede 7
D-30827 Garbsen
phone: +49(0)5131 7095 1382
FAX: +49(0)5131 7095 90
mail: investorrelations@lpkf.de
WWW: http://www.lpkf.de
sector: Machine Manufacturing
ISIN: DE0006450000
indexes: TecDAX, CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English