INFICON Achieves Double-digit Growth in Q2 2022 Based on Good Order Situation and Growing Production Capacities
INFICON Holding AG / Key word(s): Half Year Results
Corporate Contact |
- Sales increase of 10.7% (excluding currency- and acquisition effects 14.9%) to USD 139.8 million; operating profit margin of 18%, still considerable excess demand
- Ongoing pressure on margins due to material and supply shortages
- Revised Guidance for 2022: Sales of USD 560-600 (previously 550-600) million; operating profit margin of around 19% (previously over 20%)
The demand for INFICON products remains high. Sales increased in the second quarter of 2022 by 10.7% to USD 139.8 million compared with the same period last year. However, due to the ongoing shortages, output in the second quarter did not reach the targeted potential. Excluding positive effects from acquisitions (+0.4 percentage points) and negative currency impacts (-4.6 percentage points), the organic growth was 14.9%. The investment projects to increase INFICON’s production capabilities are on schedule. These efforts and the massive price war on the purchasing markets continue to put the margins under pressure. Gross profit improved slightly year-over-year for the second quarter from USD 61.1 million to USD 63.4 million, yielding a 3-percentage points lower gross profit margin. The tight cost control led to a 10.1% higher operating profit of USD 25.1 million; the operating profit margin thus remained stable at 18.0% after 18.1% a year ago. The net profit of USD 19.9 million (previous year USD 17.6 million) lead to a slightly higher net profit margin of 14.2% after 13.9% last year. Earnings per share rose to USD 8.14 after USD 7.20 recorded at the end of June 2021.