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LPKF LASER & ELECTRONICS AG

(LPK)
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LPKF Laser & Electronics : expecting significant revenue growth in second half of the year after a weak first six months

07/29/2021 | 02:17am EDT
07/29/2021
LPKF expecting significant revenue growth in second half of the year after a weak first six months

The LPKF Group generated consolidated revenue of EUR 36.4 million in the first half of the year, 27% less than in the previous year. The decline in revenue is almost exclusively attributable to the Solar segment, where existing orders are scheduled for delivery in the third and fourth quarters of 2021. The decline in revenue led to negative EBIT (earnings before interest and taxes) of EUR 5.9 million (previous year: EUR +2.8 million).

At the beginning of the year, the company had already announced a weak first half-year and a significantly stronger second half-year. In fact, the order situation improved considerably in the second quarter, thus providing the basis for the planned higher revenue in the second half of the year.

Incoming orders amounted to EUR 51.7 million in the first six months, an increase of 30.5% year on year. In the second quarter, order intake even increased by 69% to EUR 30.2 million. This leads to a book-to-bill ratio of 1.4 in the first half of the year and of 1.5 in the second quarter. Orders on hand rose by 145% compared with the same period of the previous year, reaching EUR 53.6 million as of 30 June 2021.

Christian Witt, Chief Financial Officer of LPKF, is not satisfied with the development of the business in the first half of the year but is looking confidently ahead to the second half and beyond: 'We see not only the significantly improved order situation, but also an increasing demand for our solutions in various business areas.'

Even though the company has tempered expectations of larger revenues from the innovative LIDE (Laser Induced Deep Etching) technology in the short term, the Management Board remains convinced that LIDE technology will enable glass to be used as a material for high-tech industry and lead to profound changes in production processes as a result. 'We are making very good progress with the market launch,' emphasized Witt, adding, 'LIDE is an important growth driver for LPKF's future development.'
As recently confirmed, the company expects moderate macroeconomic growth in the current year. For 2021, LPKF anticipates revenue growth of between 15% and 25% to consolidated revenue of EUR 110 million to EUR 120 million. The EBIT margin for the financial year 2021 is expected to be between 10% and 13%.

LPKF continues to expect sustainable, profitable growth in all segments in the coming years, and is confirming its medium-term outlook.

The complete half-year financial report can be downloaded here.

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LPKF expecting significant revenue growth in second half of the year after a weak first six months (pdf- 199 KB)
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Disclaimer

LPKF - Laser & Electronics AG published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 06:16:11 UTC.


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Sales 2021 115 M 135 M 135 M
Net income 2021 8,82 M 10,3 M 10,3 M
Net cash 2021 17,9 M 20,9 M 20,9 M
P/E ratio 2021 55,2x
Yield 2021 0,60%
Capitalization 472 M 554 M 553 M
EV / Sales 2021 3,95x
EV / Sales 2022 2,44x
Nbr of Employees 698
Free-Float 100%
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LPKF Laser & Electronics AG Technical Analysis Chart | LPK | DE0006450000 | MarketScreener
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Mean consensus BUY
Number of Analysts 5
Last Close Price 19,30 €
Average target price 34,56 €
Spread / Average Target 79,1%
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Managers and Directors
Christian Witt Chief Financial Officer
Jean-Michel Richard Chairman-Supervisory Board
Dirk Michael Rothweiler Deputy Chairman-Supervisory Board
Ludger Overmeyer Member-Supervisory Board
Bettina Schńfer Manager-Investor Relations & Communication
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