Vacuum solutions provider Pfeiffer Vacuum technology AG (PVTCY.PK,PFFVF.PK) Tuesday reported higher annual operating profit, despite a fall in turnover amid a difficult market.
Operating profit rose 9.6 percent to 67.7 million euros ($90.42 million), while operating margin rose to 14.7 percent from 11.9 percent.
Turnover for the year decreased 11.2 percent to 461.3 million euros from last year’s 519.5 million euros.
Orders received dropped to 445.6 million euros from 515.9 million euros. Book-to-bill ratio, the ratio of orders to sales, was at 0.97 compared to 0.99 in 2011.
Order backlog fell to 71.8 million euros from 87.6 million euros, as a result of unusually weak business in December.
Manfred Bender, CEO, said, “We have successfully implemented our plan to raise operating profit – despite declining turnover in a difficult market.”
Looking ahead, Bender said business is currently very inconsistent and it is too early to deliver a forecast for fiscal year 2013. ”One thing is certain however – we will need to focus intensely on further improving our already respectable profitability in the months ahead,” Bender added.
Pfeiffer Vacuum said its integration of adixen is progressing as per plan and that the firm has interesting products in the pipeline that are planned to be introduced at the “Hannover Messe” trade exhibition.
The company is scheduled to report financial statements on March 22.
The stock fell nearly 1 percent on Monday to close at 90.13 euros.
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by RTT Staff Writer
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