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Pfeiffer Vacuum Technology AG: Announcement of FY 2014 results

DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Final Results
Pfeiffer Vacuum Technology AG: Announcement of FY 2014 results

26.03.2015 / 07:30

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PRESS RELEASE

Pfeiffer Vacuum announces results for FY 2014

- Total sales of EUR 406,6 million

- EBIT margin at 11,0 percent

- Dividend proposal of 2.65 euros

Asslar, Germany, March 26, 2015. Total sales for FY 2014 which had already
been preliminarily announced and have meanwhile been audited amounted to
EUR 406.6 million. This represents a decrease of 0.5 percent (previous
year: EUR 408.7 million). Operating profit (EBIT) amounted to EUR 44.7
million (previous year: EUR 50.5 million). As a result, the operating
profit margin (EBIT margin) for FY 2014 amounted to 11.0 percent and, thus,
was 1.4 percentage points lower than the previous year's figure of 12.4
percent.

The Management and Supervisory boards have proposed an unchanged dividend
of EUR 2.65 per share. The payout ratio therefore would amount to around 81
percent of consolidated net income.

Key figures at a glance:

FY 2014 FY 2013 Change
Sales EUR 406.6m EUR 408.7m -0.5%
Operating profit (EBIT) EUR 44.7m EUR 50.5m -11.4%
Net income EUR 32.4m EUR 34.8m -6.9%
EPS EUR 3.29 EUR 3.53 -6.9%
Dividend per share EUR 2.65* EUR 2.65 +/-0.0%

Order intake EUR 404.9m EUR 398.0m +1.7%
Order backlog EUR 59.3m EUR 61.1m -2.9%

* Subject to the approval of the Annual General Meeting.

Manfred Bender, CEO of Pfeiffer Vacuum Technology AG, comments: "Order
intake in the fourth quarter was more than ten million euros higher than in
the previous quarters. This development, including orders received in the
first two months of FY 2015, shows that the year has started off
positively. For this reason as well as our strong balance sheet and the
improved operating cash flow, we prefer to keep the dividend payment stable
for FY 2014 despite slightly lower net earnings. As a result, management
and the supervisory board will propose a dividend of EUR 2.65 per share at
the AGM in May. The investment in the economic potential of vacuum
technology will remain worthwhile in the future."

In context of regional sales, Europe posted a slight increase of 0.6
percent to EUR 183.2 million (previous year: EUR 182.1 million) while sales
in Asia receded by 9.4 percent to EUR 130.3 million (previous year: EUR