Mechanical engineering specialist LPKF today announced yet another record revenue of EUR 115 million for financial year 2012, thus surpassing the previous years 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 quar-ter 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 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 years second half. Laser systems for depanelling circuit boards (PCB Production Equipment) also performed very well.
To further propel the strong growth in the plastic welding business (Weld-ing 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.
The number of employees at LPKF grew by 88 to 690 in 2012.
In view of the solid development of operations in 2012 and the good prospects for the new financial year, the Management Board and the Supervisory Board intend to propose to the Annual General Meeting on 23 May 2013 that a dividend of EUR 0,50 per share be paid. Based on the closing price for 2012, this would correspond to a dividend yield of 3,2%. The performance of the LPKF share, which is listed on the TecDAX index, also was reason to celebrate for the companys shareholders: In the 2012 financial year, the share gained 66% to close at EUR 15.75.
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 gener-ate 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.
LPKF will be holding a conference call (in English) for analysts and investors on 26 March 2013 at 4.00 pm (CET). The conference call will later be available for download from the companys website.
About LPKF
LPKF Laser Electronics AG manufactures machines and laser systems used in electronics fabrication, medical technology, the automotive sector, and the production of solar cells. Around 20 percent of the workforce is engaged in research and development.
