PFEIFFER VACUUM TECHNOLOGY AG Pfeiffer Vacuum Technology AG
Group Financial Results
Nine Months and 3rd Quarter 2020
Investor & Analyst Conference Call
November 3, 2020
01
02
03
Company update
Financial update
Outlook
2 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Eric Taberlet, CEO - Review of last three years
- Positioned Pfeiffer Vacuum for a deep transformation
- Developed strategy and set strategic goals, invested in leadership and expert structure to execute the strategy
- Customer focus at the center of our decisions
- Balanced short-term financial demands with long-term opportunities
- Managed successfully through COVID-19
- Positioned the company to achieve strategic goals of 20% market share and 20% EBIT margin by 2025
3 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Dr. Britta Giesen, designated CEO (Jan. 1, 2021)
- Member of the Management Board since October 1, 2020
- Engineer by heart with a strong business background
- Experience includes 16 years with KSB AG, a manufacturer of centrifugal pumps and valves; CEO ThyssenKrupp Access Solutions GmbH
- Education
- Technische Hochschule Darmstadt, PhD in Operations Research
- Technische Hochschule Darmstadt, Diploma in Mechanical Engineering with Business Administration
- Cornell University, Master of Engineering Aerospace
4 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Sales and operating results solid in context of global economy
in € millions
9M/20209M/2019
453.9 | 467.3 | −2.9% | |||||
Sales | Sales | Sales | |||||
35.7 | 48.9 | −27.0% | |||||
EBIT | EBIT | EBIT | |||||
7.9% | 10.5% | ||||||
margin | margin | ||||||
5 | © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020 |
Sales and book-to-bill ratio stable
in € millions
9M/20209M/2019
453.9 | 467.3 | −2.9% | |||||
Sales | Sales | Sales | |||||
1.02 | 0.96 | ||||||
Book-to-bill ratio | Book-to-bill ratio | ||||||
6 | © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020 |
Sales by market: Strong growth in semiconductor market
in € millions
9M/2020 9M/2019
Semicond. &
Coating
Analytics,
Industry,
R&D
233.5
+7.1%
218.0
220.4
- 11.6%
249.3
Typical applications
- Lithography
- Metrology
- CVD
- Etching
- Surface refinement
- Architectural glass
- Data storage
- Display coating (LED, OLED)
- Mass spectrometers
- Electron microscopy
- Surface / gas analysis
- Leak detection
- General applications
- Electron beam welding
- Freeze-drying
- Vacuum drying
- Renewable energy
- Nano technology
- Particle accelerators
- Space simulations
in % of total sales
51%
49%
7 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Sales by continent first nine months 2020: Asia results strongest
in € millions
27%
36%
37%
Americas
120.7 (-4.1% yoy)
Europe
162.7 (-6.4% yoy)
Asia
170.5 (+1.7% yoy)
in % of
total sales
8 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Sales and operating results for nine months and third quarter 2020: Significant improvements in third quarter
in € millions
9M/2020
- 2.9%
Year-over-year Sales
34.8%
Gross profit margin
7.9%
EBIT margin
Q3/2020
- 2.7%
Year-over-year Sales
36.4%
Gross profit margin
10.6%
EBIT margin
9 | © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020 |
01
02
03
Company update
Financial update
Outlook
10 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Nine months financial results
in € millions, except EPS
Nine months/2020 | Nine months/2019 | ||||
margin | margin | ||||
Sales | 453.9 | 467.3 | -2.9% | ||
Gross profit | 158.0 | 34.8% | 161.4 | 34.5% | -2.1% |
EBIT | 35.7 | 7.9% | 48.9 | 10.5% | -27.0% |
Net income | 24.8 | 5.5% | 34.7 | 7.4% | -28.6% |
EPS | 2.51 | 3.52 | -28.6% | ||
11 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Quarterly sales: Stable in context of global economic conditions
In € millions
180 | 165.5 | ||||
157.4 | 156.2 | ||||
160 | 153.7 | 153.3 | 152.0 | ||
148.5 | |||||
140 |
120
100
80
60
40
20
0
Q1 | Q2 | Q3 | Q4 | |||
2019 | 2020 | |||||
12 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Third quarter financial results: Margin improved due to exceptional product mix
in € millions, except EPS
Q3/2020 | Q3/2019 | ||||
margin | margin | ||||
Sales | 152.0 | 156.2 | -2.7% | ||
Gross profit | 55.3 | 36.4% | 52.4 | 33.6% | +5.6% |
EBIT | 16.1 | 10.6% | 16.1 | 10.3% | +0.5% |
Net income | 11.3 | 7.4% | 11.4 | 7.3% | -1.3% |
EPS | 1.14 | 1.16 | -1.7% | ||
13 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Quarterly order volatility expected
in € millions, except ratio
2019 | 2020 | |||||||
Q1 | Q2 | Q3 | Q4 | FY | Q1 | Q2 | Q3 | |
Order intake | 148.8 | 144.9 | 156.3 | 148.7 | 598.7 | 172.9 | 143.7 | 144.7 |
Book-to-bill | 0.97 | 0.92 | 1.00 | 0.90 | 0.95 | 1.13 | 0.97 | 0.95 |
ratio | ||||||||
Order | ||||||||
backlog at | 140.0 | 127.5 | 127.6 | 110.7 | 110.7 | 130.3 | 125.4 | 118.2 |
end of period |
14 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Balance sheet items: Strong capital position
in € millions, except ratio
Sept. 30, 2020 | Dec. 31, 2019 | ||
Total assets | 659.1 | 659.6 | -0.1% |
Intangibles | 111.9 | 112.2 | -0.3% |
Equity ratio (in %) | 60.1 | 59.6 | 0.7% |
Net working capital | |||
174.0 | 165.8 | 4.9% | |
Financial liabilities | |||
72.5 | 73.6 | -1.5% | |
Cash and cash equivalents | |||
112.2 | 112.0 | -0.2% | |
15 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
01
02
03
Company update
Financial update
Outlook
16 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Outlook
- Forecasting due to COVID-19 very difficult; visibility low
- Semiconductor market demand remains positive
- Expect 4th quarter 2020 sales to be similar to Q3 2020 levels
- Impact on sales by US Dollar/Euro exchange rate
- EBIT performance under pressure from
- Product and market mix less favorable in Q4 2020
- Positive one-time items in Q3 2020
- Expect full year 2020 EBIT margin to be around 7 percent
- Committed to strategy
17 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Questions and Answers
18 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Thank you and have a good day.
19 © Pfeiffer Vacuum • 9 months 2020 financial results • Nov. 3, 2020
Pfeiffer Vacuum Technology AG
Heide Erickson, Head of Investor Relations
Berliner Strasse 43
35614 Asslar, Germany
T +49 6441 802-0
- +49 6441 802-1202Investor.relations@pfeiffer-vacuum.dewww.pfeiffer-vacuum.com
This presentation may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this presentation. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward- looking statements in light of new information or future events
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Pfeiffer Vacuum Technology AG published this content on 03 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 November 2020 13:34:05 UTC
