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Pfeiffer Vacuum Cuts 2019 Outlook

Pfeiffer Vacuum Technology AG (PFFVF.PK,PVTCY.PK) said it cut its fiscal year 2019 sales and EBIT margin outlook, as change in the expected shift in orders from the semiconductor and coating market, from the later part of 2019 into 2020.

"While I am disappointed about the shift of some large customer projects from 2019 into 2020, we continue to see strengths in other parts of the business," said Eric Taberlet, CEO of the company.

Pfeiffer Vacuum now expects fiscal year 2019 sales to be in the range of 620 million euros to 640 million euros, compared to the previous expectation of EUR 640 million euros to 660 million euros.

The EBIT margin for fiscal year 2019 is expected to be around the 10 percent range, compared to previously 11 percent to 14 percent, primarily due to reduced sales expectations.

The company expects to publish its detailed financial results for the nine-month ending September 30, 2019 on November 5, 2019.

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