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© LPKF Electronics Production | March 26, 2013

LPKF reports record revenue

Mechanical engineering specialist LPKF today announced yet another record revenue of EUR 115 million for financial year 2012, thus surpassing the previous year’s figure by 26%.
Earnings before interest and taxes (EBIT) came in at EUR 20 million, a year-on-year increase of 34%. The EBIT margin was 18%.

At revenue of EUR 33 million and EBIT of EUR 6 million, the fourth quarter was stronger than expected. The EBIT margin was 17% during this period.

“The ongoing trend for miniaturization of electronic equipment is paving the way for the use of laser technology in the industrial production of especially small or delicate parts. The Garbsen-based laser specialist is benefiting from this trend because its machines are replacing conventional production techniques such as punching, milling or the use of adhesives,” the company writes in a statement.

The 2012 financial year was impacted by a major order from the solar energy industry. But other product groups also showed a very dynamic development. The biggest source of revenue in the Electronics Production Equipment segment was the business with laser direct structuring (LDS) systems, which picked up momentum especially in the year’s second half. Laser systems for depanelling circuit boards (PCB Production Equipment) also performed very well.

To propel the growth in the plastic welding business (Welding Equipment), LPKF plans to expand capacity at its Erlangen site significantly this year by purchasing a building. This investment has a total volume of around EUR 14 million.

Outlook
Since a large portion of the solar energy order was completed in 2012, the company is expecting a noticeable drop in revenue in its Solar Module Equipment business in 2013. However, plans are to compensate for this decline by recording growth in other areas.

On the whole, the Management Board expects the LPKF Group to generate revenue of EUR 115 to EUR 120 million for 2013 assuming stable performance by the global economy. Revenue growth is planned for all segments outside the solar energy business. Provided the material cost ratio remains largely the same, staff costs rise due to the new hires and other expenses stay near current levels, costs will rise somewhat more sharply than revenue. The EBIT margin should be between 15% and 16% in 2013.

The Management Board expects a stable economic environment in both 2014 and 2015, with revenue growth of approximately 10% per year on average and a slight increase in the EBIT margin.

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