The preliminary, as-yet unaudited numbers from Pfeiffer Vacuum for the 2007 fiscal year make good reading. Both sales and operating profit reached new record levels in the company's history. Sales rose by 7.0 percent from €179.5 million to €192.0 million, and were thus within the company's forecast target corridor - in spite of the negative foreign exchange impact stemming from the United States and Asia. Operating profit advanced strongly by 17.6 percent from €45.0 million to €52.8 million.
At 27.5 percent, the EBIT margin for the full fiscal year was up significantly from 25.1 percent the year before. The company's forecasted EBIT margin of "significantly over 25 percent" was thus impressively confirmed. New orders increased by 14.0 percent from €175.6 million in 2006 to €200.2 million in fiscal 2007. The level of orders on hand rose by 32.0 percent from €25.6 million to €33.8 million.
Sales growth in fiscal 2007 came first and foremost from Germany, rising by 17.2 percent from €50.9 million to €59.6 million. Sales here were driven primarily by the solar sector, with which the company now does 9 percent of its total sales. At around 31 percent, the German market accounts for the largest regional share of the company's total sales.
Sales in the other countries of Europe were up by 8.3 percent from €54.4 million the year before to €59.0 million, with customers from Southeastern Europe, Italy and Scandinavia accounting for a major share of this sales growth. In the United States, dollar-denominated sales advanced by 9.3 percent over the year before. However after being translated into euros, sales of €41.4 million in this region remained at the previous year's level due to the weakness of the US dollar.
Sales in Asia declined modestly from €31.2 million to €30.6 million. Sales growth in this region was posted primarily in India, Korea and China, while sales in Japan weakened due to the soft yen and the strong local competition this brought with it.
Chief Executive Officer Manfred Bender commented: "In 2007, we recorded the best results in the company's history. We have been setting new standards with our strong team and our innovative products. And when it comes to solar technology, there's virtually no getting around quality vacuum from Asslar. Yet this is only one of the many markets we serve. In the United States, for example, our sales and marketing team won 300 new customers, thus helping to assure that Pfeiffer Vacuum remains largely independent of any single customer industry. In the event of a declining economy - and we see absolutely no indication of that - this should have a stabilizing effect on our business."
