EANS-News: LPKF invests in the future
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- quarterly report Garbsen (euro adhoc) - LPKF invests in the future Revenue in first half above previous year´s level Earnings affected by capacity expansion as expected Incoming orders above EUR 51 million Garbsen, 12 August 2011 - The special machine manufacturer LPKF boosted revenue in the first half of 2011 by 3 % to EUR 37.7 million to slightly exceed last year´s record level. Revenues in the second quarter grew by 23 % to EUR 23.4 million year on year. There is still a big demand for laser systems for material processing. The orders in hand of the LPKF Group have more than doubled to EUR 26 million since the beginning of the year. Earnings affected by investment in expansion As announced by the management board at the start of the year, the current financial year is hallmarked by the comprehensive expansion of capacities. EBIT (earnings before interest and tax) at EUR 5.2 million were therefore well down on the previous year (EUR 8.4 million). To satisfy growing demand, LPKF has increased its workforce from 429 to 532 over the past 12 months. In addition to the strong growth in staff, a modified product mix has also depressed the level of earnings. The EBIT margin in the first six months was 14 %, compared to 23 % the previous year. CEO Dr. Ingo Bretthauer is still satisfied with the way business is de-veloping: "We are currently in a transition phase, and our performance is being gauged against last year´s extremely high level. We intend to grow further. This means we have to invest and temporarily have to live with slightly lower earnings. The high level of incoming orders in the first half and beyond clearly demonstrates that we are charting the right course." Incoming orders above EUR 51 million The development in incoming orders in the first half is cause for major satisfaction. Orders rose 12 % to EUR 51 million year on year. The re-ceipt of incoming orders was particularly dynamic in the Other Produc-tion Equipment segment which encompasses the Plastic Welding and Solar divisions - both belonging to the company´s growth sectors. In-coming orders in this segment have risen significantly in the ongoing third quarter. Outlook reinforced The targeted growth in 2012 is in sight against this background, so that the management board has reinforced its forecast. The management is predicting a revenue of between EUR 83 - EUR 86 million in the current financial year, with an EBIT margin between 15 - 17 %. The man-agement is forecasting an average growth in revenue of above 10% per annum in the 2012 and 2013 financial years, and a slight rise in EBIT margin if the economic framework remains stable. The Q2 2011 financial report, including the metrics, is in the internet at www.lpkf.de. About LPKF LPKF Laser & Electronics AG specializes in the production of laser systems for micro-material processing, a field in which it is the world leader in several sectors. Founded in 1976, the Group has its headquarters in Garbsen near Hannover in Germany, and does business around the world together with its subsidiaries and representatives. LPKF has around 530 employees globally. The shares in LPKF Laser & Electronics AG are traded on the Prime Standard of the Frankfurt Stock Exchange (ISIN 0006450000). Further inquiry note: LPKF Laser & Electronics AG Bettina Schäfer, Investor Relations Manager (CIRO) Tel: (05131) 7095-1382 end of announcement euro adhoc -------------------------------------------------------------------------------- company: LPKF Laser & Electronics AG Osteriede 7 D-30827 Garbsen phone: +49(0)5131 7095 1382 FAX: +49(0)5131 7095 90 mail: investorrelations@lpkf.com WWW: http://www.lpkf.de sector: Semiconductors & active components ISIN: DE0006450000 indexes: CDAX, Prime All Share, Technology All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, Hannover, München language: English
Original-Content von: LPKF Laser & Electronics AG, übermittelt durch news aktuell