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Pfeiffer Vacuum Q3 Profit Down, Backs FY19 View; Sees Demand Growth In FY20

Pfeiffer Vacuum Technology AG (PFFVF.PK,PVTCY.PK), a manufacturer of vacuum solutions, reported Tuesday that its third-quarter net income declined 23.2 percent to 11.4 million euros from 14.9 million euros a year ago.

Earnings per share were 1.16 euros, down from 1.51 euros last year.

EBIT was 16.1 million euros, 22.6 percent lower than the previous year.

Sales of 156.2 million euros grew 2 percent from last year's 153.1 million euros.

The third-quarter orders were EUR 156.3 million euros, the highest level for 2019, up 5.2 percent from last year's 148.6 million euros.

Looking ahead for fiscal year 2019, Pfeiffer Vacuum continues to expect sales of 620 million euros to 640 million euros, and an EBIT margin of around 10 percent. In addition, capital expenditures are expected to be about 30 million euros.

Eric Taberlet, CEO, said, "Market indicators in the semiconductor and coating market are stabilizing, and we expect demand will accelerate in 2020."

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