Brief: Pfeiffer Vacuum Says Q1 EBIT Down 29.4%, No Forecast

Pfeiffer Vacuum Technology AG

05/05/2020 06:44

May 5 (Reuters) - Pfeiffer Vacuum Technology AG  PV.DE :
    * REPORTS STRONG FIRST QUARTER 2020 ORDER INTAKE AND STABLE
SALES
IN COVID-19 ENVIRONMENT
    * Q1 SALES 153.3 MILLION EUR
    * OPERATING RESULT (EBIT) OF EUR 12.8 MILLION AND 8.4% EBIT
MARGIN
    * SALES OF EUR 153.3 MILLION FLAT WITH PREVIOUS YEAR
    * OPERATING RESULT (EBIT) DECREASED BY 29.4% (Q1 2019: EUR
18.1
MILLION) AND EBIT MARGIN WAS 8.4% (Q1 2019: 11.8%).
    * YEAR-OVER-YEAR DECLINE IN EBIT WAS PRIMARY A RESULT OF
PRODUCTIVITY LOSS THROUGH COVID-19 AND DUE TO CHANGES IN PRODUCT
AND MARKET MIX.
    * PFEIFFER VACUUM IS NOT ABLE TO MAKE A RELIABLE FORECAST
DUE TO
IMPACT OF COVID-19 ON WORLD ECONOMY AND THUS ON SOME OF OUR
MARKETS
    * COMPANY EXPECTS MARKET CONDITIONS AND WORLD ECONOMIC
ACTIVITY TO
PUT PRESSURE ON FINANCIAL PERFORMANCE
    * NET INCOME DECLINED TO EUR 8.9 MILLION (Q1 2019: EUR 12.9
MILLION) REPRESENTING EARNINGS PER SHARE OF EUR 0.90 (Q1 2019:
EUR 1.31)
    * ORDER INTAKE INCREASED SIGNIFICANTLY TO EUR 172.9 MILLION.

Further company coverage:  PV.DE 

 (Reporting by Berlin Speed Desk)
 ((berlin.newsroom@thomsonreuters.com ; +49 30 2888 5156))