Ad hoc: Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum posts moderate development during the first nine months of 2009

11/3/2009, 7:28 AM (Source: GlobeNewswire)
Pfeiffer Vacuum Technology AG / Quarterly report / Ad hoc: Pfeiffer
Vacuum posts moderate development during the first nine
months of 2009

Ad hoc announcement according to §15 WpHG processed and transmitted
by Hugin. The issuer is solely responsible for the content of this
announcement.

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Asslar, Germany, November 3, 2009. During the first nine months of
2009, Pfeiffer Vacuum recorded significantly lower declines in sales
revenues and profitability than its industrial environment. The
company is now benefiting from the broad-based alignment of its
vacuum solutions business and from its ability to offer leading
technologies in numerous fields.


Highlights at a glance:


+-------------------------------------------------------------------+
| | 9M / 2009 | 9M / 2008 | Change |
|----------------------+----------------+----------------+----------|
| Sales | ¤ 137.5 | ¤ 142.0 | - 3.2 % |
| | million | million | |
|----------------------+----------------+----------------+----------|
| Operating profit | ¤ 27.7 million | ¤ 36.8 million | - 24.7 % |
| (EBIT)* | | | |
|----------------------+----------------+----------------+----------|
| Net income | ¤ 19.7 million | ¤ 26.5 million | -25.6 % |
|----------------------+----------------+----------------+----------|
| Earnings per share | ¤ 2.31 | ¤ 3.02 | - 23.5 % |
|----------------------+----------------+----------------+----------|
| New orders | ¤ 117.3 | ¤ 182.7 | - 35.8 % |
| | million | million | |
|----------------------+----------------+----------------+----------|
| Orders on hand | ¤ 40.8 million | ¤ 74.5 million | - 45.2 % |
+-------------------------------------------------------------------+




+-------------------------------------------------------------------+
| | Q3 / 2009 | Q3 / 2008 | Change |
|----------------------+----------------+----------------+----------|
| Sales | ¤ 38.9 million | ¤ 46.2 million | - 15.8 % |
|----------------------+----------------+----------------+----------|
| Operating profit | ¤ 5.9 million | ¤ 12.5 million | - 53.2 % |
| (EBIT)* | | | |
|----------------------+----------------+----------------+----------|
| Net income | ¤ 4.2 million | ¤ 8.8 million | - 52.3 % |
|----------------------+----------------+----------------+----------|
| Earnings per share | ¤ 0.49 | ¤ 1.01 | - 51.5 % |
+-------------------------------------------------------------------+



* Effective 2009 including gain or loss on currency translation; 2008
numbers have been correspondingly adjusted.

Germany continues to be the region that accounts for the largest
share of total sales revenues. During the first nine months of 2009,
Pfeiffer Vacuum was able to increase sales by 11.1 percent to
¤ 54.6 million on its home market, a metric that continues to be
driven by a major contract from the solar industry. At ¤ 36.7
million, sales revenues in the other countries of Europe lagged
behind the year before by 16.1 percent. Totaling ¤ 27.4 million, the
company saw sales revenues in the United States develop on a
relatively stable note (+0.4 percent). At ¤ 18.8 million, sales
revenues in Asia and the rest of the world were down by 13.8 percent
from the year before.

In terms of the sales mix by markets, the Coating segment remained
the clear leader during the first nine months of 2009, with sales
revenues rising by 28.5 percent to ¤ 40.1 million. Sales in the
Analytical market segment declined by 12.5 percent to ¤ 32.7 million.
The heterogeneous market segment of Industrial Applications recorded
a 17.2-percent decline to ¤ 27.0 million. Public-sector investments
stemming from the implementation of various international economic
stimulus programs generated sales growth of 9.9 percent in the
Research & Development sector to ¤ 24.7 million. The Semiconductor
segment recorded a 36.0-percent decline in sales to ¤ 7.6 million for
the first nine months, as opposed to a decline of 16.8 percent in the
Chemical and Process Technology segment, where sales revenues stood
at ¤ 5.4 million.

The year-on-year comparison in new orders was essentially
characterized by the receipt of a major contract in the third quarter
of 2008, which should be viewed as a non-recurring effect.
Consequently, the company's new orders declined by 35.8 percent
during the first nine months of 2009 to ¤ 117.3 million. At ¤
40.8 million as at September 30, 2009, the level of new orders was
down by 45.2 percent year on year. The special effect from the
previous year can be seen here, as well.

Although cost control continues to enjoy high priority at Pfeiffer
Vacuum, gross margin declined by 3.8 percentage points to 42.8
percent for the first nine months of 2009. The reasons for this were
economies of scale, additional costs in conjunction with the
renovation and reorganization of the production halls for turbopumps,
as well as the product mix. In addition to exchange rate influences,
these effects also drove down the EBIT margin by 5.7 percentage
points to 20.2 percent. Nevertheless, with these margins Pfeiffer
Vacuum continues to rank as a leader in the industrial environment.

As at September 30, 2009, the company's cash and cash equivalents at
¤ 53.9 million remained on prior year's level, shareholders equity
were at ¤ 130.3 million. Totaling 85.8 percent, the equity ratio of
debt-free Pfeiffer Vacuum at the close of the third quarter of 2009
continued to remain far above average levels.



--- End of Message ---

Pfeiffer Vacuum Technology AG
Berliner Strasse 43 Asslar
Germany

WKN: 691660; ISIN: DE0006916604; Index: TecDAX, CDAX, HDAX, MIDCAP,
Prime All Share, TECH All Share;
Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in
Börse Berlin,
Freiverkehr in Bayerische Börse München, Freiverkehr in Börse
Düsseldorf,
Freiverkehr in Börse Stuttgart, Freiverkehr in Hanseatische
Wertpapierbörse zu Hamburg,
Freiverkehr in Niedersächsische Börse zu Hannover, Open Market
(Freiverkehr) in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;
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