Pfeiffer Vacuum Technology AG Adjusts Expectations for FY 2019 Financial Results
Pfeiffer Vacuum Technology AG (“Pfeiffer Vacuum”), a leading global manufacturer of vacuum solutions, today announces that sales and EBIT margin are expected to be below the fiscal year 2019 guidance, outlined during the 1st half 2019 earnings release. The primary driver for the change is the expected shift in orders from the semiconductor and coating market, from the later part of 2019 into 2020.
Pfeiffer Vacuum now expects fiscal year 2019 sales to be in the range of EUR 620 to 640 million, compared to the previous expectation of EUR 640 to 660 million. The EBIT margin for fiscal year 2019 is expected to be around the 10 percent range, compared to previously 11 percent to 14 percent, primarily due to reduced sales expectations.
“While I am disappointed about the shift of some large customer projects from 2019 into 2020, we continue to see strengths in other parts of the business,” says Dr. Eric Taberlet, CEO of Pfeiffer Vacuum. “Our commitment to our strategic investment program to drive market share gains, revenue and EBIT margin growth remains unchanged, even as we are managing through near-term market volatility.”
Pfeiffer Vacuum is expecting to publish its detailed financial results for the 9 months ending September 30, 2019 on November 5, 2019.