[ad_1]
Although sales to 153.3 million euros were almost as high as the previous year, the operating result (EBIT) fell a good 29 percent to 12.8 million euros, as announced by the company listed in the SDAX on Tuesday night in Alar, Hesse. However, orders increased more than in early 2019: order intake increased 16 percent to 172.9 million euros.
Pfeiffer Vacuum primarily manufactures vacuum pumps that chip makers, labs, and others can use to keep their rooms clean free of dust and other damaging influences. Since November 2018, the company owns half of the pump maker and the family-owned Busch, and by the end of 2019 Busch had increased its stake to just over 60 percent.
There is always speculation on the market if and when Busch could completely swallow the company SDax. The two companies are currently working more closely together in purchasing and sales, research and development, and IT. The majority acquisition was preceded by a long power struggle at Pfeiffer.
Pfeiffer Vacuum share buckles
In XETRA trading, Pfeiffer Vacuum shares have fallen 1.35 percent to € 145.80.
In recent days, the stock had offset the fall in the crown crisis and surpassed the 150-euro mark it had reached before the crown’s first real collapse on February 24.
However, Commerzbank analyst Adrian Pehl was pleasantly surprised by the level of orders and sales. The expert had expected a significant decrease in first-quarter earnings, which now remained almost stable. The strong backlog could only mean that the outbreak of the COVID-19 pandemic in South Korea, a large semiconductor maker, left hardly any traces in orders. With its vacuum pumps, Pfeiffer is a supplier to the chip industry.
Another dealer complained about the weak margin. The company is currently investing a lot of money in investments anyway, which will initially charge the margin, but is expected to increase significantly in the coming years. The company had already withdrawn its forecast for the current year at the end of March due to the consequences of the crown crisis and also with reference to the growth strategy. The company also reduced the dividend. Pfeiffer plans to announce more details about the first quarter on May 5.
/ stw / jha /
ASSLAR (dpa-AFX)
More news on Pfeiffer Vacuum AG
Image Sources: Pfeiffer Vacuum
