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LPKF reports strategic successes and narrowly achieves forecast for 2023 financial year
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- LPKF reports revenue of EUR 124.3 million, EBIT of EUR 3.7 million, and EBIT margin of 3.0% for 2023 financial year.
- Non-recurring effects reduced earnings by EUR 0.7 million, with adjusted EBIT of EUR 4.4 million and margin of 3.5%.
- LPKF sees positive trend in order intake, makes progress in strategic targets, and aims for revenue of EUR 130-140 million in 2024.
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EQS-News: LPKF Laser & Electronics SE / Key word(s): Annual Report |
Garbsen, 21 March 2024 – LPKF Laser & Electronics SE generated revenue of EUR 124.3 million in the financial year (previous year: EUR 123.7 million) and earnings before
interest and tax (EBIT) of EUR 3.7 million (previous year: EUR 6.8 million), putting the EBIT margin at 3.0% (previous year: 5.5%). Despite record revenue in the fourth quarter, both of
these figures are at the lower end of expectations. LPKF had forecast Group revenue of between EUR 125 million and EUR 135 million and an EBIT margin of 3–7% for the 2023 financial
year.
Non-recurring effects reduced earnings by about EUR 0.7 million. These include severance costs and the change in the value of virtual share options issued in 2023. EBIT adjusted for these non-recurring effects came to EUR 4.4 million, with an adjusted EBIT margin of 3.5%.
Weak revenue growth was attributable primarily to operating factors such as delays in project and order processing, which also indirectly reduced profitability. To bring new products to market more quickly and flexibly, the company is devoting considerable efforts to advancing modular operating production scalability and standardizing the design-for-manufacturing approach.
The Management Board initiated structural measures in 2023 to improve efficiency and the fixed cost base and these will be expanded in the current financial year with external support. The measures will begin to boost LPKF’s currently unsatisfactory profitability from the second half of 2024 onwards.
Order intake in the 2023 financial year came to EUR 120.2 million, down 3.3% year on year (2022: EUR 124.2 million), and the order backlog declined from EUR 63.2 million in the previous year to EUR 58.9 million as of 31 December 2023. LPKF also received a major order upwards of EUR 15 million in its solar business in the first quarter of this year, which had originally been expected at the end of 2023. The company therefore continues to see a positive trend in its order intake.
Non-recurring effects reduced earnings by about EUR 0.7 million. These include severance costs and the change in the value of virtual share options issued in 2023. EBIT adjusted for these non-recurring effects came to EUR 4.4 million, with an adjusted EBIT margin of 3.5%.
Weak revenue growth was attributable primarily to operating factors such as delays in project and order processing, which also indirectly reduced profitability. To bring new products to market more quickly and flexibly, the company is devoting considerable efforts to advancing modular operating production scalability and standardizing the design-for-manufacturing approach.
The Management Board initiated structural measures in 2023 to improve efficiency and the fixed cost base and these will be expanded in the current financial year with external support. The measures will begin to boost LPKF’s currently unsatisfactory profitability from the second half of 2024 onwards.
Order intake in the 2023 financial year came to EUR 120.2 million, down 3.3% year on year (2022: EUR 124.2 million), and the order backlog declined from EUR 63.2 million in the previous year to EUR 58.9 million as of 31 December 2023. LPKF also received a major order upwards of EUR 15 million in its solar business in the first quarter of this year, which had originally been expected at the end of 2023. The company therefore continues to see a positive trend in its order intake.
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