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Pfeiffer Vacuum Technology AG

EANS-News: Pfeiffer Vacuum Technology AG
Pfeiffer Vacuum announces results for the first half year of 2010

Aßlar (euro adhoc) -

New orders significantly up - Profitability improved - Guidance for 
full fiscal year confirmed
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Financial Figures/Balance Sheet/quarterly report
Subtitle: New orders significantly up - Profitability improved - 
Guidance for full fiscal year confirmed
Asslar, Germany, August 3, 2010. Pfeiffer Vacuum
is a visible manifestation of the recovery. During the first half of 
2010, the company grew its sales revenues to EUR 99.5 million. The 
prospects for the full fiscal year are very good, as new orders 
during the first half of 2010 advanced by 29.0 percent from the 
previous year´s level of EUR 80.0 million to now total EUR 103.2 
million.
Highlights at a glance:
|                      |H1/2010       |H1/2009       |Change        |
|                      |              |              |              |
|Sales revenues        |EUR 99.5 million|EUR 98.6 million|+ 0.9 %       |
|Operating profit      |EUR 22.7 million|EUR 21.9 million|+ 3.6 %       |
|(EBIT)                |              |              |              |
|Net income            |EUR 17.8 million|EUR 15.6 million|+ 14.3 %      |
|Earnings per share    |EUR 2.07        |EUR 1.82        |+ 13.7 %      |
|                      |              |              |              |
|New orders            |EUR 103.2       |EUR 80.0 million|+ 29.0 %      |
|                      |million       |              |              |
|Orders on hand        |45.5 million  |42.4 million  |+ 7.3 %       |
|                      |Q2/2010      |Q2/2009       |Change        |
|                      |             |              |              |
|Sales revenues        |EUR 49.9 million|EUR 46.6 million|+ 7.1 %       |
|Operating profit      |EUR11.4 million |EUR 8.9 million |+ 28.0 %      |
|(EBIT)                |              |              |              |
|Net income            |EUR 8.5 million |EUR 6.5 million |+ 28.9 %      |
|Earnings per share    |EUR 1.00        |EUR 0.75        |+ 33.3 %      |
|                      |             |              |              |
The special effect that was incurred last year due to a major 
contract from the solar industry has distorted year-on-year 
comparisons relating to total group sales revenues and sales revenues
in Germany in the first half of 2010. The regional sales mix produced
strong, double-digit growth rates on international markets, in 
particular in the United States, where sales revenues rose by 32.7 
percent to EUR 23.7 million (2009: EUR 17.8 million), and in Asia and
the rest of the world, where they advanced by 51.4 percent to EUR 
18.0 million (2009: EUR 11.9 million). In the other countries of 
Europe, sales revenues increased by 5.4 percent to EUR 26.6 million 
(2009: EUR 25.3 million). Due to the above-mentioned special effect, 
however sales revenues in Germany declined by 28.5 percent, from 
EUR 43.6 million to EUR 31.2 million. Currency translation effects 
did not play a material role in any region in the first half of 2010.
The semiconductor market was especially noteworthy in the sales 
revenue mix by markets as a result of the boom there during the first
half of 2010, which boosted sales revenues by 103.8 percent to EUR 
10.0 million (2009: EUR 4.9 million). The Analytical segment, too, 
saw a sharp 34.3-percent rise to EUR 28.7 million (2009: EUR 21.4 
million). Increasing by 31.0 percent to EUR 22.8 million (2009: 
EUR 17.4 million), sales revenues growth in Industrial Applications 
was similarly strong a half year after the general economic crisis. 
The upward trend was also sustained in the Research & Development 
market segment, which posted an increase of 20.4 percent to EUR 19.8 
million (2009: EUR 16.5 million). Sales revenues in the Chemical and 
Process Technology segment developed on a relatively flat note, 
decreasing by 3.8 percent to EUR 4.0 million (2009: EUR 4.2 million).
Only in the Coating segment was there a significant, 58.9-percent 
decrease in revenues year on year to EUR 14.1 million (2009: EUR 34.2
million) due to the above-mentioned special effect.
Above all, the good development of business is manifesting itself in 
a further improvement in Pfeiffer Vacuum´s profitability, which leads
the industry anyway. During the period under review, for instance, 
operating profit rose by 3.6 percent to EUR 22.7 million (2009: EUR 
21.9 million), while the EBIT margin rose by 0.6 percentage points to
EUR 22.8 percent in the first half year of 2010. The after tax profit
rose by 14.3 percent to reach EUR 17.8 million (2009: 
EUR 15.6 million). Net earnings per share totaled EUR 2.07 (2009: EUR
1.82).
Pfeiffer Vacuum Chief Executive Officer Manfred Bender comments the 
results as follows: "We are on the road back to our accustomed 
strength. After the completion of the measures to restructure our 
production processes, gross margin improved by 2.3 percentage points 
to 45.9 percent. The fact that Pfeiffer Vacuum is swiftly nearing the
position it had held prior to the general economic crisis was 
especially clear to see in connection with new orders and improved 
margins during the first half of 2010. As announced at the Annual 
Shareholders Meeting, we anticipate that sales revenues will reach 
their pre-crisis level again this year with a sustained strong EBIT 
margin of over 22.0 percent. The results for the first half of the 
2010 fiscal year that we today announced give us every reason to 
reiterate these goals." Bender continued: "In the meantime, we have 
also taken a minority stake in Dreebit GmbH. We are very pleased that
we will now be able to work even more closely with this young, 
innovative company in the future, thus enabling the two of us to 
mutually broaden our competence in vacuum solutions."
At its Annual Shareholders Meeting on May 20, 2010, Pfeiffer Vacuum 
had announced its equity investment in this company, which 
specializes in vacuum pump service. Dresden-based Dreebit GmbH 
additionally develops and markets equipment for micro- and 
nanotechnology as well as for medical particle therapy. With this 
equity investment, Pfeiffer Vacuum intends to strengthen its service 
and broaden its competence in vacuum solutions for the medical 
sector.
Please find the complete press release as well as the financial 
report on our website at www.pfeiffer-vacuum.net.
About Pfeiffer Vacuum Pfeiffer Vacuum (Stock Exchange Symbol PFV, 
ISIN DE0006916604) is one of the world´s leading manufacturers of 
components and systems for vacuum generation, measurement and 
analysis. Ever since the invention of the turbomolecular pump by 
Pfeiffer Vacuum, the company has stood for innovative solutions and 
high- technology products that are used in the analytical segment, in
research and development, environmental technology, chemistry, 
semiconductor production and coating technology, as well as in the 
automotive industry and any number of further sectors. Founded in 
1890, Pfeiffer Vacuum is today together with Trinos Vakuum-Systeme 
active throughout the world with a workforce of some 870 people as 
well as 14 subsidiaries and over 20 agencies. Further information is 
available at www.pfeiffer-vacuum.net
end of announcement                               euro adhoc

Further inquiry note:

Brigitte Looß
Leiterin Investor Relations
Tel.: +49 (6441) 802-346
E-Mail: Brigitte.Loos[at]pfeiffer-vacuum.de

Branche: Machine Manufacturing
ISIN: DE0006916604
WKN: 691660
Index: TecDAX, CDAX, HDAX, Prime All Share, DAXsector All Industrial
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade

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