Total sales for FY 2014 which had already been preliminarily announced and have meanwhile been audited amounted to 406.6 million. This represents a decrease of 0.5% (previous year: 408.7 million).
Operating profit (EBIT) amounted to 44.7 million (previous year: 50.5 million). As a result, the operating profit margin (EBIT margin) for FY 2014 amounted to 11.0% and, thus, was 1.4% points lower than the previous years figure of 12.4%.
The Management and Supervisory boards have proposed an unchanged dividend of 2.65 per share. The payout ratio therefore would amount to around 81% of consolidated net income.
Manfred Bender, CEO of Pfeiffer Vacuum Technology AG, comments: Order intake in the fourth quarter was more than ten million euros higher than in the previous quarters. This development, including orders received in the first two months of FY 2015, shows that the year has started off positively. For this reason as well as our strong balance sheet and the improved operating cash flow, we prefer to keep the dividend payment stable for FY 2014 despite slightly lower net earnings. As a result, management and the supervisory board will propose a dividend of 2.65 per share at the AGM in May. The investment in the economic potential of vacuum technology will remain worthwhile in the future.
In context of regional sales, Europe posted a slight increase of 0.6% to 183.2 million (previous year: 182.1 million) while sales in Asia receded by 9.4% to 130.3 million (previous year: 143.9 million). The development in the Americas was very pleasing where sales increased by 13.7% to 92.6 million (previous year: 81.4 million).
Sales of turbopumps remained approximately stable at 124.7 million (previous year: 125.3 million). Instrument and component sales experienced a decline of 4.2% to 96.9 million (previous year: 101.1 million). Revenues from backing pumps fell by 2.9% to 89.4 million (previous year: 92.1 million). Service revenues rose by 4.1% to 85.0 million (previous year: 81.7 million). Finally, systems sales saw a development of plus 25.5% to 10.6 million (previous year: 8.5 million).
The sales split by market segments shows sales of 118.4 million (previous year: 123.4 million) in the semiconductor market. This represents a decline of 4.1%. In the heterogeneous market segment industry there was a sales increase of 2.2% to 107.2 million (previous year: 104.9 million). Sales in the analytical market segment fell by 1.2% to 78.7 million (previous year: 79.6 million). The research anddevelopment market segment remained approximately stable at 55.2 million (previous year: 55.1 million) while coating sales grew by 3.0% to 47.1 million (previous year: 45.7 million).
Gross profit for the reporting period amounted to 143.4 million (previous year: 149.4 million). This meant that the gross profit margin declined by 1.2% points to 35.3% (previous year: 36.5%). The operating profit (EBIT) amounted to 44.7 million. It was 11.4% below the previous years figure of 50.5 million. This corresponds to an operating profit margin (EBIT margin) of 11.0% (previous year: 12.4%).
Picture: Key figures at a glance (Image: Pfeiffer Vacuum GmbH)
Source: Pfeiffer Vaccum GmbH