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EQS-News: LPKF Laser & Electronics SE
/ Key word(s): Half Year Report
LPKF remains on track in the first half of 2023
27.07.2023 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
LPKF remains on track in the first half of 2023
- Second quarter revenue and earnings in line with forecast
- Order backlog up 48%, order intake up 38%
- Management Board refines full-year guidance and remains confident about subsequent years
Garbsen, Germany, July 27, 2023 - LPKF Laser & Electronics SE generated consolidated revenue of EUR 47.9 million in the first half of 2023 (H1 22: EUR 55.5 million, including customer push outs of EUR 8 million from 2021) and earnings before interest and taxes (EBIT) of EUR -7.0 million (H1 22: EUR 1.7 million). In the first half of this year, the company significantly increased its order intake and reported progress in the introduction of its new technologies in the semiconductor, display and biotechnology markets. As expected and previously communicated, LPKF will realize an exceptionally large share of the full year 2023 revenue in the second half this year – this is driven by a significant portion of the solar orders on hand which are due to be delivered in the fourth quarter at the request of customers.
In the second quarter LPKF performed in line with guidance with revenues of EUR 27.7 million and an EBIT of EUR -0.4 million (Guidance Q2 2023: Revenue EUR 25 to 30 million, EBIT EUR -3 to 1 million).
The Group's order situation continued to develop well throughout the first half of 2023. At EUR 66.2 million, order intake was up 38% compared to the previous year (H1 22: EUR 47.9 million). The order backlog rose from EUR 54.9 million in the previous year to EUR 81.4 million, of which approximately EUR 55 million is due for delivery in the current year. The order situation underpins the company’s expectation of an accelerating and profitable business development in the second half of the year and beyond.
"We performed well in the first half of the year in a challenging environment," says CEO Dr. Klaus Fiedler. "The development of our core business is solid despite operational challenges, and I am particularly pleased with the positive market response to our newly launched products." CFO Christian Witt adds: "We are working at full speed to strengthen growth and profitability for 2023 as well as for the following years. Due to the good order situation and the consequent cost discipline in the company, we are confident that we will succeed in this."
Outlook
For the third quarter of 2023, LPKF expects revenue of EUR 28 to 33 million and EBIT of EUR -1 to 3 million. For the full year 2023, the Management Board must take into account the operational challenges that come with delivering large Solar orders in the fourth quarter of this year. In order to adequately take this risk into account, the company refines its revenue guidance for full year 2023. The Management Board now expects revenue of EUR 125 to 135 million (previously: EUR 125 to 140 million) and an EBIT margin of 3% to 7% (unchanged).
In the medium term, as previously communicated, LPKF aims to achieve an attractive single-digit growth rate for its core business. In addition to the core business, the new business initiatives in the semiconductor, display and biotechnology markets shall contribute in total a low three-digit million euro revenue in the medium term. Based on the growth in revenue and the resulting economies of scale, the Management Board aims to achieve an attractive double-digit EBIT margin for the LPKF Group in the coming years.
The quarterly report is available in German and English at
About LPKF
LPKF Laser & Electronics SE is a leading provider of laser-based solutions for the technology industry. Laser systems from LPKF are crucial for the production of printed circuit boards, microchips, automotive parts, solar modules and many other components. Founded in 1976, the company is headquartered in Garbsen near Hanover, Germany, and is active worldwide through subsidiaries and representatives. LPKF Laser & Electronics SE shares are traded in the Prime Standard segment of Deutsche Börse (ISIN 0006450000).
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Contact:
Daniel Tolle, Head of Investor Relations & Treasury
27.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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