LPKF hits the upper range of its H1 targets

Garbsen, 28. July 2022 – The LPKF Laser & Electronics AG generated a group revenue of EUR 55.5 million in the first half of the year, an increase of 52,5% compared to the previous year. This included an EBIT of EUR 1.7 million following a loss of EUR 5.9 million in the previous year. In the second quarter, revenue increased by 48% year-on-year to EUR 29.8 million with an EBIT of EUR 0.7 million, which is in the upper range of the guidance. 

With EUR 47.9 million, incoming orders in the first half of 2022 were roughly on a par with the previous year's figure. The orders on hand as of June 30, 2022 totaled EUR 54.9 million, of which more than EUR 45 million are due for delivery in the current fiscal year.

LPKF remains positive for the second half of 2022 despite the difficult economic conditions. "We have reached our targets in the first two quarters despite the challenging headwinds, and we are confident to also deliver on our 2022 forecast. So far, we have been able to largely mitigate sup-ply chain interruptions and secure delivery to our customers. However, working capital needs will remain high for the time being. At the same time, we are also making progress on our strate-gic development: Digitalization is progressing and our ESG rating by MSCI improved from BBB to A," says Christian Witt, CFO of LPKF Laser & Electronics AG.

In the second quarter LPKF launched several new products. Following the launch of the Tensor technology in the Electronics segment in April, several orders were placed within the first few months. In the Development segment, there was a significant increase in incoming orders for the newly developed fully integrated solutions for rapid prototyping.

In addition to the significantly improved business performance, to which especially the Solar and Development segments contributed, CEO Klaus Fiedler is also pleased with the new product launches and the progress made with the new business initiatives: "LPKF thrives on creating a superior application benefit through innovative technologies. I am therefore particularly pleased that the new product launches have found strong interest in our core markets. The first use of LIDE in serial production and the successful acquisition of renowned partners for the test phase of ARRALYZE show that we are on the right track in new market segments such as semiconductor packaging, displays and biotechnology. The task now is to gradually move into high-volume appli-cations through a stronger customer focus and sustained partnerships."

Outlook

Against the backdrop of the current political and economic environment, the ability to plan and predict the development of LPKF's business is significantly limited.

For the third quarter of 2022, the Management Board is anticipating revenue of between EUR 25 million and EUR 30 million and EBIT of EUR -2.5 million to EUR +2 million. LPKF confirms its outlook for the full year 2022 and continues to expect group revenues of EUR 110 - 130 million and an EBIT margin of between 2 and 7 %.
 
In the medium term, LPKF expects attractive growth in its current core business and a significant contribution to growth from its new LIDE and ARRALYZE segments, despite the recently removed guidance for 2024.

The full 2022 half-year financial report is available at www.lpkf.com.

About LPKF

LPKF Laser & Electronics AG is a leading provider of laser-based solutions for the technology industry. Laser systems from LPKF are crucial for the production of printed circuit boards, micro-chips, automotive parts, solar modules and many other components. Founded in 1976, the com-pany is headquartered in Garbsen near Hanover, Germany, and is active worldwide through subsidiaries and representatives. LPKF Laser & Electronics AG shares are traded on the Prime Standard of Deutsche Börse (ISIN 0006450000).