DGAP-News: LPKF Laser & Electronics AG / Key word(s): Quarter Results

13.05.2014 / 08:00

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High level of incoming orders indicates business development according to
plan for the full year despite subdued revenue and earnings performance in
Q1.

As expected, the LPKF Group has made a subdued start to the 2014 financial
year. First-quarter revenue was EUR 21.6 million, thus falling 35% short of
the unusually high prior-year figure (EUR 33 million). At EUR 1.1 million,
earnings before interest and taxes (EBIT) were also lower than the previous
year's figure of EUR 6.7 million. The EBIT margin was 5%.

Incoming orders, in contrast, set a positive tone in the first quarter for
further performance during the year. At EUR 37.2 million, LPKF's volume of
incoming orders rose by 51% year-on-year. Even if reaching the targets for
the year has become a more challenging proposition due to the weak first
quarter, the Management Board confirms its guidance for the full year and
expects the LPKF Group to generate revenue of EUR 132 million to EUR 140
million for 2014, assuming stable performance by the global economy. The
EBIT margin is expected to be between 15% and 17% in 2014.

Business with solar cell structuring systems has been particularly strong
since the beginning of the year as LPKF was able to announce orders with a
total volume of more than EUR 15 million. Further orders have come in since
then, which means that LPKF can again expect moderate growth in this
product group despite the persistent weakness of the solar energy market.
 
Business with systems for electronics development (Rapid Prototyping
Equipment) also performed well, with revenue increasing by 29% to EUR 6.3
million. The EBIT margin improved and reached 21.8%.

After the excellent performance of business with Laser Direct Structuring
(LDS) systems in 2013 - especially in the first quarter of 2013 - a slower
development of LDS business was foreseeable for 2014.

 "Despite the subdued start to the current financial year, we are
optimistic about the future. The trend towards miniaturization and
functional integration in electronic devices regularly offers new
applications for the laser as a high-precision tool, and laser technology
is developing rapidly," said Dr. Ingo Bretthauer, CEO of LPKF AG.
 
Given a stable economic environment in both 2015 and 2016, the Management
Board expects revenue to grow by an average of approximately 10% per year
and the EBIT margin to come in between 15% and 17%.

The full quarterly report is available in German at
http://www.lpkf.de/investor-relations/news-publikationen/finanzberichte/in
dex.htm and in English at
http://www.lpkf.com/investor-relations/financial-reports/index.htm.

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 780 employees. The
shares in LPKF Laser & Electronics AG are traded on the TecDAX index of the
Frankfurt Stock Exchange (ISIN 0006450000).


End of Corporate News

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Language:    English                                               
Company:     LPKF Laser & Electronics AG                           
             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:      Regulierter Markt in Frankfurt (Prime Standard);      
             Freiverkehr in Berlin, Düsseldorf, Hamburg, München,  
             Stuttgart                                             
 
 
End of News    DGAP News-Service  
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