LPKF records net profit before non-recurring effects in third quarter
Garbsen, 14 November 2016 - In the first nine months of the current financial year, the revenue of LPKF Laser & Electronics AG remained essentially unchanged year-on-year at EUR 61.0 million (previous year: EUR 61.6 million). As announced two weeks ago, the operating result (EBIT) was impacted by non-recurring effects of EUR 6.5 million, thereby amounting to EUR -10.3 million. Adjusted for all non-recurring effects, including restructuring expenses of EUR 0.8 million, the Group recorded a net profit of EUR +0.7 million in the third quarter.
The reasons for the muted overall business development in the first nine months were delays in the development of new products and technologies as well as the sustained weakness of the laser direct structuring (LDS) systems business, which was a key factor in the unscheduled write-downs recognized.
The plastic welding and solar segments both increased their revenue in the first nine months. The new Through Glass Via (TGV) and Laser Transfer Printing (LTP) technologies were launched in the current financial year. The first machines have been sold in both areas and customer interest remains high.
The Group's incoming orders in the first nine months totaled EUR 76.8 million, representing a 26.6% year-on-year increase. At EUR 29.0 million, orders on hand were 73.4% higher than in the same period of the previous year. CEO Dr. Ingo Bretthauer sees the order situation as evidence that LPKF will be able to return to a more sustainable growth path: "Although we recorded an operating profit in the second and third quarters, we are highly unsatisfied with our results for the first nine months as a whole. The restructuring program announced this May is going according to plan, meaning that the Group is set to achieve its objective of lowering the break-even point to around EUR 90 million by the end of the year."
The complete quarterly financial report is available in German at www.lpkf.de/investor-relations/news-publikationen/finanzberichte/index.htm and in English at www.lpkf.com/investor-relations/financial-reports/index.htm.
About LPKF LPKF Laser & Electronics AG specializes in the manufacture of laser systems for micro material processing and is regarded globally as a leader in several sectors. The company, which was founded in 1976, has its head office in Garbsen (near Hanover) and operates worldwide through its subsidiaries and agencies. The shares of LPKF Laser & Electronics AG are traded on the Prime Standard of the German Stock Exchange (ISIN 0006450000).
14.11.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language: English Company: LPKF Laser & Electronics Aktiengesellschaft Osteriede 7 30827 Garbsen Germany Phone: +49 (0) 5131 7095-0 Fax: +49 (0) 5131 7095-95 E-mail: email@example.com Internet: www.lpkf.com ISIN: DE0006450000 WKN: 645000 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service