Brief: LPKF Says 2020 Revenue Down 31% To 96.2 Mln Eur

LPKF Laser & Electronics SE

24/03/2021 07:05

March 24 (Reuters) - LPKF Laser & Electronics AG  LPKG.DE :
    * LPKF INTENDS TO ONCE AGAIN PROPOSE A DIVIDEND OF 0.10 EURO
PER
SHARE TO AGM
    * COMPANY CONTINUES TO EXPECT STRONG MEDIUM-TERM REVENUE AND
EARNINGS GROWTH
    * REVENUE FOR YEAR OF EUR 96.2 MILLION (- 31 %)
    * EARNINGS BEFORE INTEREST AND TAXES (EBIT) HAS DECREASED TO
EUR
7.5 MILLION
    * EBIT MARGIN WAS 7.8% AFTER 13.7% IN 2019
    * AT EUR 102.2 MILLION IN 2020, INCOMING ORDERS WERE 10.3%
BELOW
PRIOR YEAR FIGURE
    * REVENUE DROP WAS LARGELY DUE TO MAJOR PROJECTS WITH TWO
KEY
CUSTOMERS WHICH WERE POSTPONED BEYOND 2020 OR SUSPENDED DUE TO
IMPACT OF COVID-19 PANDEMIC
    * SUPERVISORY BOARD HAS STARTED SEARCH FOR A NEW CEO
    * FOR SUBSEQUENT YEARS, COMPANY CONTINUES TO EXPECT
SUSTAINABLE,
PROFITABLE GROWTH IN EACH BUSINESS UNIT.
    * WITT AND BENDELE EXPECT THAT LPKF WILL RESUME GROWTH IN
2021
    * TIMING AND SPEED OF EXPECTED MACROECONOMIC RECOVERY IN
MARKETS
IS STILL UNCERTAIN, THIS LIMITS ABILITY TO FORECAST CURRENT
FINANCIAL YEAR 2021

Source text for Eikon:  ID:nEQ2tW9Yra 
Further company coverage:  LPKG.DE 

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