Pfeiffer Vacuum Technology AG: APfeiffer Vacuum Technology AG Updates Mid-term Targets; Sales and Margins to Increase Significantly - Fiscal Year 2020 Sales Stronger than Expected

Ad-hoc Release

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Pfeiffer Vacuum Technology AG Updates Mid-term Targets; Sales and Margins to Increase Significantly - Fiscal Year 2020 Sales Stronger than Expected

Asslar, January 11, 2021. The newly composed Management Board of Pfeiffer Vacuum Technology AG ("Pfeiffer Vacuum") has updated the mid-term targets of the Company. On the basis of the current business development and the progress on the execution of the strategic growth investments, the Management Board expects to increase the market share via organic growth and acquisitions, to grow sales substantially as well as to improve profitability considerably over the next 3 to 5 years. The aim is to be an even stronger competitor in the vacuum market than today.

The previous, and hearby revoked, mid-term targets were announced in 2018 and included to become a stronger number 2 competitor and to achieve a 20 percent market share as well as an EBIT margin of 20 percent by 2025.

With the updated strategy, the Management Board continues to pursue increasing market share, driving sales growth and improving profitability. Pfeiffer Vacuum will move forward with its strategic investment program while focusing even stronger on the customers and markets. The Management Board will provide additional details once a systematic analysis has been completed. This analysis will consider the achievements of the last years, the current market conditions including the influence of the COVID-19 pandemic, and the future opportunities for accelerated profitable growth for Pfeiffer Vacuum in an evolving market environment.

According to preliminary figures, Pfeiffer Vacuum recorded higher than anticipated sales for the fiscal year 2020, which are expected to be at or slightly above €616 million, compared to €633 million for the same period in 2019, above previous expectations of about €606 million.