08/15/2016 08:00:01
LPKF makes up a lot of ground in the second quarter
DGAP-News: LPKF Laser & Electronics Aktiengesellschaft / Key word(s): Half
Year Results
2016-08-15 / 08:00
The issuer is solely responsible for the content of this announcement.
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Garbsen, 15 August 2016 - Business growth at LPKF Laser & Electronics AG
accelerated considerably in the second quarter 2016. Sales grew by almost
20% compared to the same quarter of the previous year, EBIT results were
positive at EUR 0.7 million. However, due to a very weak first quarter,
sales and EBIT results after six months stayed below the previous year's
figures. Sales in the first half year reached almost EUR 40 million, EBIT
stayed negative at EUR -3.7 million.
Orders received in the first half of the year amounted to almost EUR 60
million, almost 40% higher than those received during the first half of the
previous year. Orders in hand on the reporting date were over 80% higher
than the figures reported during the same period of the previous year. The
book-to-bill ratio reached a value of 1.5.
The most significant drivers of growth in the first six months included
laser systems for plastic welding. A large solar contract for EUR 17
million was a major contributor to the orders received in the second
quarter. Orders in the other two segments remained below expectations for
the first half of the year.
The announced cost-saving program made good progress in the second quarter.
The planned reduction of 100 full-time equivalents in the LPKF-Group is on
schedule. Until mid-August a capacity reduction of eighty-six full-time
equivalents has been contractually agreed. The Board of Directors therefore
believes that the company is in a good position to bring the break-even
point for 2017 to below EUR 90 million.
"Despite the continued weakness in LDS business, we have taken a
substantial step forward in the second quarter", says Dr. Ingo Bretthauer,
CEO of LPKF AG. "Both the sales trends and cost-saving measures are going
according to plan. We are confident that we will be able to achieve our
goals for 2016 on both fronts."
For 2016, the Board of Directors expects to achieve sales of EUR 90 to 110
mil-lion and an EBIT margin of between -3% and +6%, if the global economy
remains stable. These include estimated restructuring costs of approx. EUR
2 million. For 2017, the board expects an increase in sales and a clearly
positive result.
The complete half-year financial report is available in German at
www.lpkf.de/investor-relations/news-publikationen/finanzberichte/index.htm
and in English at
www.lpkf.com/investor-relations/financial-reports/index.htm.
About LPKF
LPKF Laser & Electronics AG specializes in the manufacture of laser systems
for micro material processing and is regarded globally as a leader in
several sectors. The company, which was founded in 1976, has its head
office in Garbsen (near Hanover) and operates worldwide through its
subsidiaries and agencies. The shares of LPKF Laser & Electronics AG are
traded on the Prime Standard of the German Stock Exchange (ISIN
0006450000).
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2016-08-15 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.
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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
End of News DGAP News Service