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  ROUNDUP: Pfeiffer Vacuum Resists Power Struggle Without Visible Blemishes | News | Bit Updates
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ROUNDUP: Pfeiffer Vacuum Resists Power Struggle Without Visible Blemishes | News

Friday, February 16th, 2018 | bitcoin updates

ASSLAR (dpa-AFX) – Despite the power struggle at Pfeiffer Vacuum, the pump specialist was able to expand its business last year. However, the TecDAX company was affected by unfavorable exchange rates, takeovers and higher legal and consulting costs. Operating profit rose less sharply than analysts had anticipated. Earnings before interest and taxes (EBIT), at just under 9 percent to € 73.9 million, were less strong than revenues, which increased by nearly 24 percent to € 587 million , as the company announced on Friday in Hesse Aßlar. Among other things, balance sheet effects from acquisitions in the US and Germany at € 6 million had a negative impact on earnings in the final quarter. Pfeiffer bought the US company Nor-Cal in June. Pfeiffer has had a turbulent year with a sudden change of boss. The family-run competitor Busch had tried to take over Pfeiffer Vacuum, but met with fierce opposition from the Management Board and the Supervisory Board. Ultimately, however, Busch gained the upper hand: Manfred Bender, who had been CEO for many years, had to leave at the end of November. Family member Ayla Busch herself became chairman of the supervisory board. According to the latest known figures, the Busch Group holds around a third of the shares in Pfeiffer Vacuum. Analysts had already issued good forecasts to the specialist pump manufacturer earlier this month. The bank HSBC called the stock of Pfeiffer Vacuum among the medium-sized companies in Germany and Austria as one of their "top picks" of the first half of 2018.In particular in the face of speculation that bush could venture a new takeover bid, the price of the securities rose until the end of last year more than 175 euros. Then he crumbled something again. After the surprising publication of the business figures, the papers lost 2.8 percent to 154 euros. However, over the twelve-month perspective, the value of the share has still increased by about 50 percent. Pfeiffer Vacuum specializes in vacuum pumps, measuring and analysis equipment and supplies the chip industry with this, among other things. The company claims to have about 2900 employees worldwide. The headquarter is Aßlar in Hesse, besides it is also produced in Göttingen, France, South Korea, Romania, USA and Vietnam. The group intends to present the complete annual report on March 21. /elm/das/jha/


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