PRESS RELEASE

Pfeiffer Vacuum reports strong results for 9M 2021, a record order backlog, and sales expectations for full year 2021 above previous guidance

First nine months 2021:

- Sales of EUR 575.3 million, up 26.7% from the previous year

- Operating result (EBIT) of EUR 74.0 million, up 107.3% year-on-year

- EBIT margin improved by five percentage points to 12.9%

- Order intake of EUR 690.8 million, up 49.8% compared to previous year

Asslar, November 4, 2021. Pfeiffer Vacuum Technology AG, a leading global manufacturer of vacuum solutions, today announced consolidated results for the first nine months of 2021. With sales of EUR 575.3 million, the Company reached the strongest nine-months-performance ever, representing an increase of 26.7% compared to the previous year (9M 2020: EUR 453.9 million). The operating result (EBIT) reached EUR 74.0 million, a growth of 107.3% (9M 2020: EUR 35.7 million), leading to a significantly improved EBIT margin of 12.9% (9M 2020: 7.9%). The order intake for the first nine months of 2021 was also at a record level with EUR 690.8 million, a strong increase of 49.8% compared to the previous year (9M 2020: EUR 461.3 million). In addition, the order backlog reached EUR 238.8 million by the end of September 2021 - also a record level for the Company (December 31, 2020: EUR 123.3 million).

Pfeiffer Vacuum's sales increase for the first nine months of 2021 reflects a strong year-over-year performance in all market segments with the Semiconductor market remaining particularly dynamic. Sales in the Semiconductor and Emerging Technologies market segment increased significantly by 35.7% to EUR 293.4 million (9M 2020: EUR 216.2 million). Sales in the Analytics, Industry and R&D market segment improved by 18.6% to EUR 281.9 million (9M 2020: EUR 237.7 million).

The operating result (EBIT) of EUR 74.0 million represents an increase by 107.3% compared to the previous year (9M 2020: EUR 35.7 million). The EBIT margin reached 12.9% (9M 2020: 7.9%). The year-over-year increase in EBIT was primarily a result of the increase in sales and related scale economies as well as tighter cost management.

The order intake in the first nine months of 2021 reached EUR 690.8 million, up 49.8% compared to the first nine months of 2020. At the end of the third quarter 2021, Pfeiffer Vacuum had an order backlog of EUR 238.8 million, up 93.7% compared to the previous year (December 31, 2020: EUR 123.3 million). In the current high-demand environment, customers are ordering well ahead of historically common periods due to extended delivery schedules. The book-to-bill ratio, the ratio of order intake to sales, was at a robust level of 1.20 in the nine months of 2021 and 1.30 for the third quarter 2021.

"The demand for our products is at an all-time-high for all our segments, also due to the high demand for microprocessors and the related capacity expansions of our customers," says Dr. Britta Giesen, CEO of Pfeiffer Vacuum Technology AG. "Even as global supply chains are stressed, our production and support functions were able to successfully manage the significant ramp-up in demand. This positions us well for the future. I am very satisfied with the nine-month results and proud of the outstanding performance of our team."

Overview of key figures:

In sales by region, which describes sales according to the location of the customers in their corresponding region, robust consumer demand and investments in semiconductor capacity drove expansion in all regions. All market segments benefit from the development of new technologies that are supporting megatrends in the market, including consumer electronics, green energy as well as medical and pharmaceutical innovation. In addition, customers pursue efficiencies in their production processes. In Asia, Pfeiffer Vacuum achieved a year-over-year increase in sales by 42.2% to EUR 242.5 million for the first nine months of 2021 (9M 2020: EUR 170.5 million) and sales in the Americas increased by 20.5% to EUR 145.5 million (9M 2020: EUR 120.7 million). Foreign exchange impacts adversely affected sales particularly in this region. Europe showed an increase of 15.4% to EUR 187.4 million (9M 2020: EUR 162.3 million).

The gross profit for the first nine months of 2021 was EUR 203.5 million (9M 2020: EUR 158.0 million). The year-over-year increase is primarily due to positive economies of scale related to sales increases.

The net income increased to EUR 52.1 million (9M 2020: EUR 24.8 million), representing earnings per share of EUR 5.28 (9M 2020: EUR 2.51).

Solid balance sheet
Total assets at the end of the third quarter 2021 were EUR 743.4 million, up 12.3% from year-end 2020 (December 31, 2020: EUR 661.8 million). Cash and cash equivalents were EUR 134.3 million (December 31, 2020: EUR 122.9 million). The Company continues to be net debt free from a financial liability perspective. The equity ratio remained at a solid level of 59.3%, slightly above year-end 2020 (December 31, 2020: 59.2%).

Strong 2021 fiscal year results expected
Based on the record sales results for the first nine months of 2021 and strong order intake, Pfeiffer Vacuum raised the sales guidance for full year 2021 on October 26, 2021. The company now expects annual sales to reach another record level in a range between EUR 730.0 million and EUR 750.0 million (fiscal year 2020: EUR 618.7 million; previous expectations EUR 710.0 million to EUR 730.0 million). The EBIT margin is expected to significantly improve in 2021 to between 12.0% and 13.0% of sales, unchanged from previous expectations (fiscal year 2020: 7.3%).

The Pfeiffer Vacuum nine-month financial report 2021 is available for download at group.pfeiffer-vacuum.com/financial-reports.

Contact
Pfeiffer Vacuum Technology AG

Investor Relations
Heide Erickson
T +49 6441 802 1360
[email protected]

About Pfeiffer Vacuum
Pfeiffer Vacuum (ticker symbol PFV, ISIN DE0006916604) is a leading global manufacturer of vacuum solutions. Among a full range of hybrid and magnetically levitated turbopumps, the portfolio comprises backing pumps, leak detectors, measurement and analysis devices, components and vacuum chambers and systems. Pfeiffer Vacuum has stood for innovative solutions and high-tech products in analytics, industry, research & development, coating and semiconductor markets since its invention of the turbopump. Founded in 1890, Pfeiffer Vacuum is active worldwide. The Company employs approximately 3,300 employees, has over 20 sales and service companies, and operates 10 manufacturing sites worldwide.

For more information, please go to: group.pfeiffer-vacuum.com