ASSLAR (dpa-AFX) - Vacuum pump specialist Pfeiffer Vacuum generated lower operating profit than expected last year. Although operating profit rose by a good 28 percent to €119.4 million in 2022, as the company announced in Asslar on Monday on the basis of preliminary figures. However, the operating profit margin (Ebit) of 13 percent was below the 14 percent target. This was mainly due to inventory adjustments and maintenance costs at the end of the year, higher IT operating costs and the assessment of investments to increase production capacity in Korea in the medium term, the company said. The stock lost almost five percent in after-hours trading on the Tradegate trading platform.

Consolidated sales rose by 18.8 percent to €916.7 billion, reaching a record level. Pfeiffer Vacuum had only raised its sales forecast again in December, holding out the prospect of €900 million. Order intake was also at a record level, rising by 14.4 percent to around €1.1 billion. The company plans to publish further details on March 21./nas/he