Mechanical engineering specialist LPKF Laser & Electronics AG's (LPKFF.PK) first-quarter of 2013 profit attributable to shareholders of the parent company increased to 4.35 million euros from the prior year's 1.38 million euros, with earnings per share rising to 0.37 euros from last year's 0.12 euros.
Earnings before tax increased to 6.54 million euros from 2.03 million euros in the prior year quarter.
Revenue for the quarter rose to 32.99 million euros from last year's 20.53 million euros.
The strong revenue in the first quarter of 2013 was due in part to a large order from the solar industry, which will be completed as planned by mid-2014. In view of the continuing weakness of the solar market, LPKF said it is preparing for a decline in revenue in the Solar Equipment product group in the current year and therefore expects a temporary slowdown in the development of consolidated revenue for 2013. Added to this is low visibility in other product groups with the exception of Welding Equipment.
On the whole, the company confirmed the forecast it made in November of 2012 and expects the LPKF Group to generate revenue of 115 million euros to 120 million euros for 2013 assuming stable performance by the global economy. Revenue growth is planned for all segments outside the solar energy business. The EBIT margin should be between 15% and 16% in 2013.The company expects a stable economic environment in both 2014 and 2015, with revenue growth of 10% per year on average and a slight increase in the EBIT margin.
In view of the highly positive development of operations in 2012 and the good prospects for the current financial year, the company said the Management Board and the Supervisory Board intend to propose to the Annual General Meeting on 23 May 2013 that a dividend of 0.50 euros per share be paid.
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