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Pfeiffer Vacuum Q3 Profit Down, EBIT Edges Up; Sees Sequentially Flat Q4 Sales

Pfeiffer Vacuum Technology (PFFVF.PK,PVTCY.PK), a manufacturer of vacuum solutions, Tuesday reported that its third-quarter net income dropped 1.3 percent to 11.3 million euros from 11.4 million euros last year. Earnings per share were 1.14 euros, down 1.7 percent from 1.16 euros a year ago.

EBIT for the quarter edged up 0.5 percent from last year to 16.1 million euros. EBIT margin of 10.6 percent improved, benefited by strong semiconductor business.

The company noted that EBIT margins during the third quarter were the strongest of the year 2020 due to a very favorable sales mix within its different market segments.

Sales declined 2.7 percent to 152.0 million euros from 156.2 million euros a year ago. Order intake fell 7.4 percent to 144.7 million euros from prior year's 156.3 million euros.

Eric Taberlet, CEO, said, "Market indicators in the semiconductor market continued to be positive while our other markets were impacted primarily due to the economic slow-down related to the COVID-19 pandemic."

Looking ahead, the company currently expects sales in the fourth quarter 2020 to be similar to third quarter 2020 levels, while the EBIT margin for the full year 2020 is expected to be around 7 percent.

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