EANS-News: LPKF raises the bar higher
Garbsen (euro adhoc) -
Boom in orders in first half German laser specialist raises turnover and earnings target for 2010 again
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quarterly report/Half-year financial report 2010
Subtitle: Boom in orders in first half German laser specialist raises turnover and earnings target for 2010 again
Garbsen, 13 August 2010 - LPKF Laser & Electronics AG has boosted its turnover in the first six months of the ongoing financial year to EUR 37 million. This corresponds to a rise of 63 % compared to the first half in 2009. Quarterly earnings before interest and tax exceeded the expectations at EUR 8 million, and an EBIT margin of 23 %. The company generated a turnover of EUR 19 million in the second quarter alone, generating an EBIT of EUR 4 million
Chairman of the Board of Managing Directors Dr. Ingo Bretthauer assesses the development in the first half of the year as revealing a significant broadening of the foundations for growth. "LPKF is enjoying a growth trend which is now being boosted by the dawning recovery of the overall economy. The LPKF Group is profiting in all of its segments from the increasing demand for high-tech production solutions."
Against the background of the stabilization of the overall economic conditions, and the continuing excellent level of orders, the Board of Managing Directors has raised the turnover forecast for the ongoing financial year to at least EUR 68 million, and set the target EBIT margin higher, to at least 17 %.
Cutting & Structuring Lasers made the biggest contribution to the expansion in business with a year-on-year growth of 142 %, primarily due to the strong business with laser direct structuring systems (LDS). The systems delivered to date have proven effective under real production conditions, to the extent that LDS technology has now established a leading position in the production of smartphone antennae. There is also growing demand for the LDS method for the production of laptop antennae and sensoric components in the automotive sector.
At the beginning of June, LPKF reported a major order totaling nearly EUR 6 million for laser systems for depanelling printed circuit boards. Laser depanelling systems open up new options for PCB manufacturers. This is seen by the LPKF Group as a business with very promising growth potential.
The other segments also enjoyed a positive development in business activity in the first half. Positive signals are also increasingly coming from the business with laser systems for scribing thin-film solar panels. In the light of the current recovery, the Board of Managing Directors considers the Thin-film Technologies Segment to have good medium term growth opportunities in a dynamic market.
The high capacity utilization in Garbsen in particular, and the expected growth, has to be matched by investment, especially in development, service and production. Money will also be invested this year and next in new buildings and rebuilding measures at the Garbsen site.
LPKF Laser & Electronics AG is a leading international group of companies specialized in laser systems for micro-material processing. 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 430 employees around the world, of which 200 are in Garbsen. The shares in LPKF Laser & Electronics AG are traded on the Prime Standard of the Frankfurt Stock Exchange (ISIN 0006450000).
end of announcement euro adhoc
Further inquiry note:
LPKF Laser & Electronics AG
Bettina Schäfer, Investor Relations
Tel: (05131) 7095-382
Branche: Semiconductors & active components
ISIN: DE0006450000
WKN: 645000
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade