Pfeiffer Vacuum: Q3 the best quarter in the company’s history
Pfeiffer Vacuum announces results for the first nine months of 2010
Pfeiffer Vacuum closed the month of September with the best quarter ever in its corporate history. This also produced above-average developments for the first nine months. All metrics posted significant, double-digit growth rates.
Pfeiffer Vacuum Chief Executive Officer Manfred Bender had this to say about the results: “We are very proud of these numbers. The development of our business has far surpassed our expectations. The volume of new orders is overwhelming, and there has already been a clear improvement in margins during the first year of the Trinos integration. We therefore now anticipate sales revenues of around € 210 million for the full fiscal year, and an EBIT margin of over 23 percent.”
Sales revenues by region
The regional sales mix produced strong, double-digit growth rates on international markets during the first nine months of the 2010 fiscal year. In the United States, sales revenues improved by 42.2 percent to € 38.9 million (2009: € 27.4 million), and by 46.2 percent in Asia and the rest of the world to € 27.5 million (2009: € 18.8 million). In the other countries of Europe, sales revenues rose by 11.6 percent to € 41.0 million (2009: € 36.7 million). A special effect that was incurred last year due to a major contract from the solar industry has distorted year-on-year comparisons for Germany, causing sales revenues in Germany to decline by 6.4 percent from € 54.6 million to € 51.1 million. Currency translation effects accounted for € 3 million in the first nine months of 2010.
Sales revenues by market segment
Posting a triple-digit growth rate, the Semiconductor market was especially noteworthy in the sales revenue mix by markets, with Pfeiffer Vacuum recording an increase of 125.2 percent to € 17.1 million (2009: € 7.6 million). The Analytical segment, too, saw a significant 39.3-percent rise to € 45.6 million (2009: € 32.7 million). Sales revenues in Industrial Applications improved by 28.5 percent to € 34.6 million (2009: € 27.0 million). The Research & Development market segment continued to sustain its upward trend, with sales revenues advancing by 25.2 percent to € 30.9 million (2009: € 24.7 million). Following a number of negative quarters, the development of sales revenues in the Chemical and Process Technology segment developed on a highly positive note, rising by 18.2 percent to € 6.4 million (2009: € 5.4 million). Only in the Coating segment was there a significant 40.5-percent year-on-year decline in sales revenues to € 23.8 million (2009: € 40.1 million).
Further profitability numbers
Pfeiffer Vacuum’s industry-leading profitability continued to improve during the first nine months of fiscal 2010. Operating profit rose by 33.8 percent to € 37.1 million (2009: € 27.7 million), while the EBIT margin increased by 3.2 percentage points to 23.4 percent. Net income advanced by 47.1 percent to € 29.0 million (2009: € 19.7 million), with earnings per share thus amounting to € 3.39 (2009: € 2.31).
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