Pfeiffer Vacuum: Shares drop on weak Q1 operating profit

Pfeiffer Vacuum Technology AG

22/04/2020 08:42

** Shares in Pfeiffer Vacuum  PV.DE  slide 3% after the
German vacuum pump maker reports a decline in its Q1 EBIT
 urn:newsml:reuters.com:*:nASN0005JN
    ** While Pfeiffer did not disclose its Q1 gross profit,
Bankhaus Lampe says it believes the company's gross margin
continued to be under pressure
    ** Bankhaus Lampe expects 2020 to be another year of revenue
decline for Pfeiffer as COVID-19 looks set to hit its
semiconductor and industrial activities with a certain time lag
    ** Customers of these units have just started to reduce
their production capacities, the broker says
    ** The broker expects Pfeiffer's business to slow down at
end-Q2, while in H2 it will take time for demand to make its way
through the supply chain to equipment suppliers
    ** Pfeiffer's coating division will also continue to
underperform due to uncertainties in the solar and display
units, Bankhaus Lampe adds

 ((zuzanna.szymanska@tr.com))