ASSLAR (dpa-AFX) - Vacuum pump specialist Pfeiffer Vacuum again increased sales in the past quarter. However, investments, for example in IT and production capacities, reduced operating profit. The corporate management does not intend to change its forecast. The news did not initially trigger any major surprises on the stock market.

On Thursday morning, the share price was only slightly lower. The price has been hovering around 150 euros since April. In addition to the business development, the share price is primarily determined by the commitment of the Busch Group. Busch has steadily increased its stake in Pfeiffer in recent years to almost 64 percent.

As the SDax-listed company announced on Tuesday in Asslar, Hesse, sales in the three months to the end of June climbed 8.5 percent year-on-year to almost 244 million euros. The Lowen share comes from the segment around analytics, industry and research and development. While revenues from semiconductor products also rose, they were significantly weaker than in the other segment. Pfeiffer Vacuum explained this with a "market adjustment" following several years of high demand.

Before interest and taxes (Ebit), € 24.1 million of sales remained within the Group - 16.2 percent less than in the year-earlier period. After taxes, Pfeiffer Vacuum earned €17 million, following €20.4 million a year earlier.

As expected, market conditions are currently challenging due to a weakening of demand, particularly in the semiconductor market, said Group President Britta Giesen, according to the release. The Group's order intake in the second quarter slumped by 27 percent to just under 214 million euros.

The management board of the vacuum pump specialist, which was founded in 1890 and has a good 4,000 employees, is sticking to its annual targets. Sales are expected to remain at around the previous year's level of just under 917 million euros. Sales in the second half of the year are likely to be negatively affected by the decline in incoming orders as a result of the weak semiconductor market, it said. Earnings before interest and taxes are expected to remain at around twelve percent of sales, compared with 11.3 percent in the first half of the year./ngu/mis/nas