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Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum Updates Strategic Mid-Term Targets and Reports Strong Sales in Fourth Quarter 2020

·3-min read

DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Strategic Company Decision/Development of Sales
11.01.2021 / 10:04
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Pfeiffer Vacuum Updates Strategic Mid-Term Targets and Reports Strong Sales in Fourth Quarter 2020

Asslar, January 11, 2021. The Management Board of Pfeiffer Vacuum Technology AG ("Pfeiffer Vacuum"), a leading global manufacturer of vacuum solutions, announced updated mid-term goals of the Company today, replacing previously announced goals. Over the next 3 to 5 years, Pfeiffer Vacuum's target is to increase market share through organic growth and acquisitions, to substantially grow sales, to considerably improve profitability, and to be an even stronger competitor in the vacuum market.

Dr. Britta Giesen, the new CEO of Pfeiffer Vacuum, says: "Pfeiffer Vacuum is a respected brand in growth markets where vacuum technology is becoming increasingly important. We have the right technology, committed employees and a team focused on accelerated growth and profitability. We are well-positioned to achieve these goals by focusing even more on our customers and the markets we serve."

Wolfgang Ehrk, COO of Pfeiffer Vacuum, adds: "Pfeiffer Vacuum has made significant progress in the ongoing transformation process to modernize and strategically expand our global manufacturing capabilities as well as optimize our internal systems and processes. We will continue on our path of transformation and will further invest for the future success of Pfeiffer Vacuum."

The Management Board will provide more specific mid-term goals and the timing of achieving these goals once a systematic analysis has been completed. This analysis will consider the achievements of the last years as well as the strategic focus areas going forward and the current market conditions including the influence of the COVID pandemic on the growth trajectory originally anticipated.

 

Strong sales in fourth quarter 2020

According to preliminary figures, Pfeiffer Vacuum recorded strong sales in fourth quarter 2020, despite the impact of COVID-19 on the global economy and further pressures due to the arrival of the second wave of increased infections in the later part of 2020. Total sales in fourth quarter 2020 are expected to be at or slightly above € 162 million, thus above the third quarter 2020 level of € 152 million and exceeding the previous guidance provided. Accordingly, Pfeiffer Vacuum expects full-year 2020 sales to be at or slightly above € 616 million, or approximately only 3 percent down from sales of € 633 million for the same period in 2019.


Contact
Pfeiffer Vacuum Technology AG


Investor Relations
Heide Erickson
T +49 6441 802 1360
Heide.Erickson@pfeiffer-vacuum.de

About Pfeiffer Vacuum
Pfeiffer Vacuum (ticker symbol PFV, ISIN DE0006916604) is a leading global manufacturer of vacuum solutions. Among a full range of hybrid and magnetically levitated turbopumps, the portfolio comprises backing pumps, leak detectors, measurement and analysis devices, components and vacuum chambers and systems. Pfeiffer Vacuum has stood for innovative solutions and high-tech products in analytics, industry, research & development, coating and semiconductor markets since its invention of the turbopump. Founded in 1890, Pfeiffer Vacuum is active worldwide. The Company employs approximately 3,300 employees, has over 20 sales and service companies, and operates 10 manufacturing sites worldwide.

For more information, please go to: group.pfeiffer-vacuum.com


11.01.2021 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:

Pfeiffer Vacuum Technology AG

Berliner Str. 43

35614 Asslar

Germany

Phone:

+49 6441 802-0

Fax:

+49 6441 802-1365

E-mail:

info@pfeiffer-vacuum.de

Internet:

www.pfeiffer-vacuum.de

ISIN:

DE0006916604

WKN:

691660

Indices:

SDAX, TecDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1159543


 

End of News

DGAP News Service

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