Pfeiffer Vacuum Reports Strong Sales in Fourth Quarter 2020
Over the next 3 to 5 years, Pfeiffer Vacuum's target is to increase market share through organic growth and acquisitions, to substantially grow sales, to considerably improve profitability, and to be an even stronger competitor in the vacuum market.
Dr. Britta Giesen, the new CEO of Pfeiffer Vacuum, says: "Pfeiffer Vacuum is a respected brand in growth markets where vacuum technology is becoming increasingly important. We have the right technology, committed employees and a team focused on accelerated growth and profitability. We are well-positioned to achieve these goals by focusing even more on our customers and the markets we serve."
Wolfgang Ehrk, COO of Pfeiffer Vacuum, adds: "Pfeiffer Vacuum has made significant progress in the ongoing transformation process to modernize and strategically expand our global manufacturing capabilities as well as optimize our internal systems and processes. We will continue on our path of transformation and will further invest for the future success of Pfeiffer Vacuum."
The Management Board will provide more specific mid-term goals and the timing of achieving these goals once a systematic analysis has been completed. This analysis will consider the achievements of the last years as well as the strategic focus areas going forward and the current market conditions including the influence of the COVID pandemic on the growth trajectory originally anticipated.
Strong sales in fourth quarter 2020
According to preliminary figures, Pfeiffer Vacuum recorded strong sales in fourth quarter 2020, despite the impact of COVID-19 on the global economy and further pressures due to the arrival of the second wave of increased infections in the later part of 2020. Total sales in fourth quarter 2020 are expected to be at or slightly above € 162 million, thus above the third quarter 2020 level of € 152 million and exceeding the previous guidance provided. Accordingly, Pfeiffer Vacuum expects full-year 2020 sales to be at or slightly above € 616 million, or approximately only 3 percent down from sales of € 633 million for the same period in 2019.
Source: Pfeiffer Vacuum Technology AG