Pfeiffer Vacuum Technology AG
ISIN: DE0006916604
WKN: 691660
02 November 2023 07:30AM

EQS-News: Pfeiffer Vacuum Technology AG Reports Continued Strong Sales for the First Nine Months of 2023

Pfeiffer Vacuum Technology AG · ISIN: DE0006916604 · EQS - Company News
Land: Deutschland · Primärmarkt: Deutschland · EQS News ID: 1762861

EQS-News: Pfeiffer Vacuum Technology AG / Key word(s): 9 Month figures/Forecast
Pfeiffer Vacuum Technology AG Reports Continued Strong Sales for the First Nine Months of 2023

02.11.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


NEWS RELEASE  

Pfeiffer Vacuum Technology AG Reports Continued Strong Sales for the First Nine Months of 2023

First nine months 2023:

  • Record sales of EUR 737.8 million, up 10.3% from the previous year
  • Operating result (EBIT) of EUR 86.6 million and EBIT margin of 11.7%
  • Order intake of EUR 668.8 million, down 22.8% compared to previous year
  • Order backlog with EUR 433.5 million, 15.7% down compared to previous year

 

Asslar, November 2, 2023. Pfeiffer Vacuum Technology AG, a leading global manufacturer of vacuum solutions, today announced results for the first nine months of 2023. With sales of EUR 737.8 million, representing an increase of 10.3% compared to the previous year, the Company reached the strongest nine-months performance in its history (9M 2022: EUR 668.7 million). The operating result (EBIT) decreased by 7.8% to EUR 86.6 million (9M 2022: EUR 94.0 million) mainly due to costs related to a comprehensive investment program. This represents an EBIT margin of 11.7% (9M 2022: 14.1%) and is in line with our full-year guidance. In addition, the order intake during the reporting period was EUR 668.8 million (9M 2022: EUR 866.5 million), reflecting the expected demand slow-down primarily in the semiconductor market. The order backlog stood at 433.5 million at the end of the first nine months of 2023 (9M 2022: EUR 514.0 million). 

The Pfeiffer Vacuum sales increase was driven by a strong performance in the Analytics, Industry and R&D market segment. Sales in this market segment improved by 17.5% to EUR 381.9 million (9M 2022: EUR 325.1 million). The Semiconductor and Emerging Technologies market segment sales increased by 3.6% to EUR 355.9 million (9M 2022: EUR 343.6 million). The semiconductor market is currently experiencing a market adjustment after a multi-year high-demand cycle.

The operating result (EBIT) decreased by 7.8% to EUR 86.6 million (9M 2022: EUR 94.0 million) and the EBIT margin was 11.7% (9M 2022: 14.1%). The year-over-year decrease in EBIT was primarily due to higher costs for investments to drive long-term sustainable growth, including increasing the production capacities to meet future demand and creating an integrated global IT environment.

The book-to-bill ratio, the ratio of order intake to sales, was at 0.91 for the first nine months of 2023, reflecting particularly the expected demand declines related to the semiconductor market. The order backlog of EUR 433.5 million was down 15.7% compared to the previous year (Sep. 30, 2022: EUR 514.0 million).

“Our sales remained strong year-to-date, even as the demand conditions are becoming increasingly challenging”, says Dr. Britta Giesen, CEO of Pfeiffer Vacuum Technology AG. “Our commitment remains to invest in our manufacturing capacity and capabilities as well as IT infrastructure to position us for the next growth cycle, and to pursue our sustainability goals.”

Overview of key figures:

    9M/2023 9M/2022 Change
         
Sales   € 737.8 million € 668.7 million 10.3%
EBIT   € 86.6 million € 94.0 million -7.8%
Net income   € 60.7 million € 66.6 million -8.9%
Earnings per share   € 6.15 € 6.75 -8.9%
Order intake   € 668.8 million € 866.5 million -22.8%
         
         
    Q3/2023 Q3/2022 Change
         
Sales   € 241.1 million € 228.1 million 5.7%
EBIT   € 30.3 million € 33.9 million -10.6%
Net income   €20.8 million €24.0 million -13.3%
Earnings per share   € 2.11 € 2.43 -13.2%
Order intake   € 216.3 million € 286.4 million -24.5%
Order backlog   € 433.5 million € 514.0 million -15.7%

The gross profit for the first nine months of 2023 was EUR 269.6 million (9M 2022: EUR 243.6 million). The year-over-year increase of 10.7% is primarily due to the strong sales performance. 

Net income decreased by 8.9% to EUR 60.7 million (9M 2022: EUR 66.6 million), representing earnings per share of EUR 6.15 (9M 2022: EUR 6.75).

In sales by region, which describes sales according to the location of the customers in their corresponding region, showed strong sales growth particularly in Europe: European sales increased by 23.2% to EUR 260.1 million (9M 2022: EUR 211.0 million). Sales in Asia increased by 5.5% to EUR 272.8 million (9M 2022: EUR 258.5 million), while sales in the Americas grew by 3.0% to EUR 204.9 million (9M 2022: EUR 199.0 million).

Solid balance sheet and cash-flow

Total assets at the end of the third quarter 2023 were EUR 961.9 million, up 11.4% from year-end 2022 (December 31, 2022: EUR 863.7 million). Cash and cash equivalents were EUR 103.8 million (December 31, 2022: EUR 67.8 million). The equity ratio remained at a solid level of 61.1%, slightly below year-end 2022 (December 31, 2022: 61.5%). Capital expenditure in the first nine months increased significantly to EUR 69.3 million, up 32.3% from the same period in 2022 (9M 2022: EUR 52.4 million). Investments were primarily made in production buildings, facilities, and equipment, as well as in the global information technology infrastructure.

Outlook for the 2023: Sales guidance raised

Based on the sales results for the first nine months of 2023 Pfeiffer Vacuum expects new record-high sales for the full year 2023 of around EUR 950 million. This exceeds previous expectations of sales to reach the 2022 level of around EUR 917 million. The EBIT margin expectations for the full year 2023 remain at around 12%, unchanged from the previous outlook. In addition, capital expenditures of about EUR 100 million are planned for the fiscal year 2023. 


Contact
Pfeiffer Vacuum Technology AG

Investor Relations
Heide Erickson
T +49 6441 802 1360
Heide.Erickson@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, leak detectors, 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 in the analytical, industrial, research & development, semiconductor and future technologies markets. Founded in 1890, Pfeiffer Vacuum is active throughout the world today. The company employs a workforce of some 4,000 people and has more than 20 sales and service companies as well as 10 manufacturing sites worldwide.

For more information, please go to: group.pfeiffer-vacuum.com

 

Consolidated Statements of Income (unaudited) 
                 
    Three months ended September 30,   Nine months ended
September 30,
    2023   2022   2023   2022
    in K€   in K€   in K€   in K€
Net sales   241,111   228,076   737,822   668,689
Cost of sales   -156,133   -142,526   -468,175   -425,045
Gross profit   84,978   85,550   269,647   243,644
                 
Selling and marketing expenses   -23,178   -23,226   -72,796   -68,447
General and administrative expenses   -23,902   -19,661   -80,173   -56,891
Research and development expenses    -9,029   -8,958   -28,649   -26,801
Other operating income   5,936   4,837   13,201   12,593
Other operating expenses   -4,510   -4,657   -14,608   -10,144
Operating profit   30,295   33,885   86,622   93,954
                 
Financial expenses   -2,051   -182   -3,984   -415
Financial income   407   95   816   238
Earnings before taxes   28,651   33,798   83,454   93,777
                 
Income taxes   -7,821   -9,780   -22,782   -27,174
                 
Net income   20,830   24,018   60,672   66,603
                 
Earnings per share (in €):                
Basic   2.11   2.43   6.15   6.75
Diluted   2.11   2.43   6.15   6.75
                 

 

Consolidated Balance Sheets (unaudited)          
           
    September 30,
2023
  December 31, 2022
    in K€   in K€
Assets        
Intangible assets     112,532   106,467
Property, plant and equipment   270,421   226,664
Investment properties   310   328
Other financial assets   3,951   4,985
Other assets   689   640
Deferred tax assets   24,182   23,806
Total non-current assets   412,085   362,890
         
Inventories   237,930   248,993
Trade accounts receivable   164,426   153,154
Contract assets   4,899   3,506
Income tax receivables   8,690   3,641
Prepaid expenses   13,838   10,356
Other financial assets   178   257
Other accounts receivable   15,980   13,095
Cash and cash equivalents   103,826   67,840
Total current assets   549,767   500,842
         
Total assets   961,852   863,732
         
Shareholders’ equity and liabilities        
Share capital   25,261   25,261
Additional paid-in capital   96,245   96,245
Retained earnings   475,686   416,099
Other equity components   -9,773   -6,251
Equity of Pfeiffer Vacuum Technology AG shareholders   587,419   531,354
         
Financial liabilities   126,812   7,858
Provisions for pensions   37,778   36,709
Deferred tax liabilities   4,555   4,064
Contract liabilities   1,705   1,497
Total non-current liabilities   170,850   50,128
         
Trade accounts payable   64,429   86,158
Contract liabilities   31,400   28,508
Other accounts payable   31,859   33,112
Provisions   59,021   50,748
Income tax liabilities   11,965   15,549
Financial liabilities   4,909   68,175
Total current liabilities   203,583   282,250
         
Total shareholders’ equity and liabilities   961,852   863,732
           

 

Consolidated Statements of Cash Flows (unaudited)        
         
    Nine months ended
September 30,
    2023   2022
    in K€   in K€
Cash flow from operating activities:        
Net income   60,672   66,603
Depreciation/amortization   25,490   22,417
Other non-cash income/expenses   16,327   4,891
Effects of changes of assets and liabilities:        
   Inventories   -6,363   -75,860
   Receivables and other assets   -25,379   -21,065
   Provisions, including pensions, and income tax liabilities   5,493   3,487
   Payables, other liabilities   -18,301   28,826
Net cash provided by operating activities   57,939   29,299
         
Cash flow from investing activities:        
Capital expenditures   -69,344   -52,392
Proceeds from disposals of fixed assets   1,168   214
Net cash used in investing activities   -68,176   -52,178
         
Cash flow from financing activities:        
Proceeds from increase of financial liabilities   151,529   40,000
Dividend payment   -1,085   -40,260
Principal elements of lease payments   -5,098   -4,026
Redemption of financial liabilities   -100,124   -
Net cash provided by/used in financing activities   45,222   -4,286
         
Effects of foreign exchange rate changes on cash and cash equivalents   1,001   -821
         
Net changes in cash and cash equivalents   35,986   -27,986
         
Cash and cash equivalents at beginning of period   67,840   99,371
         
 Cash and cash equivalents at end of period   103,826   71,385
         


02.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Pfeiffer Vacuum Technology AG
Berliner Str. 43
35614 Asslar
Germany
Phone: +49 6441 802-0
Fax: +49 6441 802-1365
E-mail: info@pfeiffer-vacuum.com
Internet: www.pfeiffer-vacuum.com
ISIN: DE0006916604
WKN: 691660
Indices: SDAX,
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1762861

 
End of News EQS News Service

1762861  02.11.2023 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1762861&application_name=news&site_id=boersengefluester_html

Zur besseren Einschätzung der fundamentalen Entwicklung der jeweiligen Unternehmen bietet boersengefluester.de (BGFL) eine Übersicht mit den wesentlichen Kennzahlen zu Umsatz, Ergebnis, Cashflow und Dividende. Sämtliche Angaben werden manuell in unserer Datenbank erfasst – Quelle sind die jeweiligen Geschäftsberichte. Sofern es sich um Schätzungen für künftige Zahlen handelt, stammen sie durchweg von BGFL. 

Die wichtigsten Finanzdaten auf einen Blick
  2018 2019 2020 2021 2022 2023 2024e
Umsatzerlöse1 659,73 632,87 618,67 771,37 916,71 956,25 870,00
EBITDA1,2 113,72 89,38 66,20 114,00 150,60 144,27 99,00
EBITDA-Marge3 17,24 14,12 10,70 14,78 16,43 15,09 11,38
EBIT1,4 95,13 65,15 45,30 93,09 119,37 108,70 61,00
EBIT-Marge5 14,42 10,29 7,32 12,07 13,02 11,37 7,01
Jahresüberschuss1 68,88 48,36 31,59 61,99 86,35 77,05 63,00
Netto-Marge6 10,44 7,64 5,11 8,04 9,42 8,06 7,24
Cashflow1,7 62,55 65,38 59,19 91,58 46,96 111,19 0,00
Ergebnis je Aktie8 6,98 4,90 3,20 6,28 8,75 7,81 6,10
Dividende8 2,30 1,25 1,60 4,08 0,11 7,32 7,32
Quelle: boersengefluester.de und Firmenangaben
Legende

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

Alle relevanten Bewertungskennzahlen, Termine und sonstige Investor-Informationen zu Ihrer Aktie kompakt zusammengefasst. Gut zu wissen: Sämtliche Daten stammen von boersengefluester.de werden täglich aktualisiert. Damit sind Sie immer auf dem neuen Stand. Kurze Erkärungen zu den Kennzahlen bekommen Sie, wenn Sie mit dem Cursor bzw. der Maus auf das jeweilige Feld gehen.

INVESTOR-INFORMATIONEN
©boersengefluester.de
Pfeiffer Vacuum
WKN ISIN Rechtsform Börsenwert IPO Einschätzung Plus Code
691660 DE0006916604 AG 1.497,91 Mio € 15.04.1998 Kaufen 9F2CHFMF+7G
* * *
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV KBV KCV KUV
20,79 26,48 0,79 25,09 2,68 13,47 1,57
Dividenden
Dividende '2022
in €
Dividende '2023
in €
Dividende '2024e
in €
Div.-Rendite '2024e
in %
0,11 7,32 7,32 4,82%
Finanztermine
Hauptversammlung Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
05.07.2024 12.08.2024 25.04.2024
Performance-Angaben
Abstand 60-Tage-Linie Abstand 200-Tage-Linie Performance YtD Kursveränderung 52 Wochen IPO
Akt. Kurs (EoD)
-0,39%
151,80 €
ATH 226,00 €
-1,46% -1,94% -1,56% -1,68% +41,87%

Werbung ist für uns ein wichtiger Einnahmekanal. Aber wir verstehen, dass sie manchmal lästig wird. Wenn Sie die Anzahl der angezeigten Werbung reduzieren möchten, loggen Sie sich einfach in Ihr Benutzerkonto ein und verwalten Sie die Einstellungen von dort aus. Als registrierter Benutzer erhalten Sie viele Vorteile.
          Qualitätsjournalismus · 2013-2024 · Made in Germany          
Die Nachrichtenmanufaktur

Informierte Anleger treffen bessere Entscheidungen

Auf dem 2013 von Gereon Kruse gegründeten Finanzportal boersengefluester.de dreht sich alles um deutsche Aktien – mit klarem Schwerpunkt auf Nebenwerte. Neben klassischen redaktionellen Beiträgen sticht die Seite insbesondere durch eine Vielzahl an selbst entwickelten Analysetools hervor. Basis sämtlicher Tools ist eine komplett selbst gepflegte Datenbank für mehr als 650 Aktien. Damit erstellt boersengefluester.de Deutschlands größte Gewinn- und Dividendenprognose.

Kontakt

Idee & Konzept: 3R Technologies   
boersengefluester.de GmbH Copyright © 2024 von Gereon Kruse #BGFL