14.08.2019 08:00:02

DGAP-News: LPKF continues to grow profitably

DGAP-News: LPKF Laser & Electronics Aktiengesellschaft / Key word(s): Half Year Results
LPKF continues to grow profitably

14.08.2019 / 08:00
The issuer is solely responsible for the content of this announcement.

Garbsen, August 14th, 2019 - In the first half of 2019, LPKF Laser & Electronics AG increased its revenue by 24 % year-on-year to EUR 72.7 million. All four segments of the Group contributed to this development. The Solar (plus 34 %) and the Electronics segments (plus 30 %) recorded the strongest growth.

The technology group's earnings figures reflect this positive development. Earnings before interest and taxes (EBIT) amounted to EUR 10.1 million after six months, corresponding to an EBIT margin of 14 %. EBIT thus more than quadrupled compared to the same period of the previous year.

Goetz M. Bendele, CEO of LPKF, sees the company on a very good course: "The operational measures to improve sales and reduce working capital continue to have meaningful impact. With now five consecutive profitable quarters LPKF has returned to a position of sustained profitability."

Net debt, which amounted to EUR 42.7 million as of 30 June 2018, was completely eliminated in the second quarter. "We have restored LPKF's full capability to act as a technology company, and we can now realize on our own those investments necessary for further growth", says Bendele.

While revenue and earnings increased significantly in the first half of the year, the trend in incoming orders was weaker. At EUR 45.8 million, incoming orders were down on the previous year's figure of EUR 71.9 million; orders on hand amounted to EUR 31.4 million as at 31 June 2019 (previous year: EUR 52.1 million).

The Management Board believes that market demand for LPKF's solutions and services continues to be strong and confirms the guidance for the current financial year.

Subject to stable growth in the global economy, the Management Board estimates consolidated revenue of between EUR 130 million and EUR 135 million and an EBIT margin of between 8% and 12% in 2019. This corresponds to a ROCE of between 10% and 15%. Based on the current order position, the Management Board expects revenue of between EUR 28 million and EUR 33 million in the third quarter of 2019 and an EBIT margin of between 8% and 12%.

Over the coming years, the Management Board wants to further increase the company's profitability and generate a sustainable EBIT margin of more than 12%.
 
The complete half-year financial report is available in German and English at https://www.lpkf.com/en/investor-relations/publications

 
About LPKF
LPKF Laser & Electronics AG specializes in the production of laser systems for micro material processing and is a global leader in several areas. Founded in 1976, the company is headquartered in Garbsen near Hanover and operates worldwide via subsidiaries and representative offices. The shares of LPKF Laser & Electronics AG are traded in the Prime Standard segment of Deutsche Börse (ISIN 0006450000).


Contact:
Bettina Schäfer, Department Manager Group Communication & Investor Relations

14.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: LPKF Laser & Electronics Aktiengesellschaft
Osteriede 7
30827 Garbsen
Germany
Phone: +49 (0) 5131 7095-0
Fax: +49 (0) 5131 7095-95
E-mail: investorrelations@lpkf.com
Internet: www.lpkf.com
ISIN: DE0006450000
WKN: 645000
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 857269

 
End of News DGAP News Service

857269  14.08.2019 

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