At the beginning of the year, the company had already announced a weak first half-year and a significantly stronger second half-year. In fact, the order situation improved considerably in the second quarter, thus providing the basis for the planned higher revenue in the second half of the year.
Incoming orders amounted to EUR 51.7 million in the first six months, an increase of 30.5% year on year. In the second quarter, order intake even increased by 69% to EUR 30.2 million. This leads to a book-to-bill ratio of 1.4 in the first half of the year and of 1.5 in the second quarter. Orders on hand rose by 145% compared with the same period of the previous year, reaching EUR 53.6 million as of 30 June 2021.
Christian Witt, Chief Financial Officer of LPKF, is not satisfied with the development of the business in the first half of the year but is looking confidently ahead to the second half and beyond: "We see not only the significantly improved order situation, but also an increasing demand for our solutions in various business areas.”
Even though the company has tempered expectations of larger revenues from the innovative LIDE (Laser Induced Deep Etching) technology in the short term, the Management Board remains convinced that LIDE technology will enable glass to be used as a material for high-tech industry and lead to profound changes in production processes as a result. “We are making very good progress with the market launch," emphasized Witt, adding, "LIDE is an important growth driver for LPKF's future development."
As recently confirmed, the company expects moderate macroeconomic growth in the current year. For 2021, LPKF anticipates revenue growth of between 15% and 25% to consolidated revenue of EUR 110 million to EUR 120 million. The EBIT margin for the financial year 2021 is expected to be between 10% and 13%.
LPKF continues to expect sustainable, profitable growth in all segments in the coming years, and is confirming its medium-term outlook.
The complete half-year financial report can be downloaded here.