Revenues of 100.0 million were achieved by Pfeiffer Vacuum in the first quarter of 2013.
Considering that we started the year 2013 with an order intake of 97 million in the fourth quarter of 2012, we can be reasonably satisfied with a revenue level that is greater than this, comments Manfred Bender, Chairman of the Management Board of Pfeiffer Vacuum. We have always said that the first half of 2013 will be affected by a difficult market environment. This also counters our efforts to improve profitability. With regard to order intake, however, an upturn is already apparent.
Source: Pfeiffer Vacuum
The situation of customers in Europe has improved to a certain extent. Sales revenues there fell by just 5.1 percent to 46.9 million (previous year: 49.4 million). In contrast, sales revenues in Asia fell by 43.8 percent to 31.4 million (previous year: 55.8 million). In the Americas revenues decreased by 18.8 percent to 21.5 million (previous year: 26.5 million).
Looking at revenues for different product categories, Pfeiffer Vacuum saw an improvement of 7.0 percent for services, which rose to 20.7 million (previous year: 19.3 million). Turbopumps showed a decrease in revenues of 11.3 percent, falling to 31.8 million (previous year: 35.8 million). Sales revenues for instruments and components fell by 29.7 percent to 24.1 million (previous year: 34.2 million). For backing pumps, sales revenues amounted to 21.9 million, which corresponds to a decrease of 44.2 percent (previous year: 39.2 million). With regard to systems, sales revenues halved to 1.6 million (previous year: 3.4 million).
A slight rise of 0.7 percent to 12.8 million was achieved in sales revenues for Coatings (previous year: 12.7 million). Sales revenues in the market segment Industry decreased by 2.2 percent to 27.7 million in the first quarter of 2013 (previous year: 28.3 million). Sales revenues in the semiconductor market fell by 50.9 percent to 26.0 million (previous year: 52.9 million). The Analytics market segment showed a decrease in revenues of 12.8 percent, falling to 19.9 million (previous year: 22.8 million). In Research and Development, sales revenues amounted to 13.6 million, which represents a decrease of 10.7 percent (previous year: 15.3 million).
New orders in the first quarter of 2013 at 104.1 million were 23.9 percent below last year s level (previous year: 136.8 million). Compared to the previous quarter, however, it is an improvement of 6.9 percent (Q4 2012: 97.4 million), which indicates a positive trend. The book-to-bill ratio, the ratio of orders to sales revenue, as at March 31, 2013 was 1.04 (previous year: 1.04). Orders on hand at 75.9 million showed a reduction of 17.9 percent compared to the previous comparable period (previous year: 92.4 million). Here too there is an increase over the previous quarter of 5.7 percent (as at December 31, 2012: 71.8 million).
Despite a decline in sales revenues of 24.2 percent, the gross profit margin remained exactly at the level of the previous year, namely 35.6 percent. Measures taken to improve efficiency are making an impact here. In absolute values, the gross profit fell by 24.3 percent to 35.6 million (previous year: 47.0 million). The operating profit of 11.1 million remained 45.2 percent below that of the previous year (previous year: 20.3 million). This resulted in an EBIT margin of 11.1 percent (previous year: 15.2 percent). Income after tax amounted to 7.5 million, which is a decrease of 44.6 percent compared to the last year (previous year: 13.6 million). Correspondingly, earnings per share amounted to 0.76 (previous year: 1.37).