LPKF Reports Jump in Profits in First Half Year

LPKF Laser & Electronics AG announces increased turnover and profit compared to the previous year. "We are well posistioned with our wide product range and a strong orientation to innovative production technologies. In the current economic crisis our customers receive technologies which enable them to produce more economically, or to develop completely new products," says Dr Ingo Bretthauer, CEO of LPKF.

The group enjoyed a 15 percent rise in turnover year-on-year to €22.5 million in the first half, and improved earnings from €0.5 million the previous year to €2.8 million. The EBIT margin after six months was 12 percent. The level of orders received at €23.2 million almost matched last year’s high level of € 24.1 million.

After a good first quarter, the LPKF Group boosted turnover and earnings further in the second quarter. Compared to the same period the previous year, turnover in Q2 rose by 11 percent to €12.4 million, and EBIT climbed from €0.8 million to €1.6 million. Earnings were positively influenced by the rise in turnover as well as the changed product mix, and cost savings.

The company performance overall exceeded expectations in the first half. Growth was generated by the Cutting & Structuring Laser segment – where there was particularly strong demand for structuring lasers for the production of MIDs. Turnover in the other segments was either down or barely changed as a consequence of the current economic situation.

Given the good order situation in some segments, the Board of Managing Directors expects the LPKF Group to generate an annual turnover matching last year’s level, and a considerably improved level of earnings.

The half-year financial report was published on 14 August 2009 and can be downloaded at the company's website.

www.lpkf.com