euro adhoc: LPKF Laser & Electronics AG / Quarterly or Semiannual Financial Statements / LPKF generates a clear profit in the first nine months / Cost-cutting measures having their full effect (E)

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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The company generated the following result in the first 9 months:

2003 (9 months)   2002 (9 months)   Change
Consolidated turnover     KEUR 16,200       KEUR 18,266       -11.3%
Consolidated result       KEUR    730       KEUR    822       -11.2%
EBIT                      KEUR  1,132       KEUR  1,623       -30.3%
EBIT margin                      7.0%              8.9%
EPS (diluted)             EUR    0.07       EUR    0.08
Cash and cash equivalents KEUR  5,627       KEUR  4,768       +18.0%
Capital ratio                     72%               68%

LPKF’s current orders in hand total EUR 3.16 million (EUR 5.48
million).

Notes on the quarterly results
The positive 9-month performance is also attributable to the sale of
MicroLine Lasers in North America and Germany. In addition, the
cost-cutting measures launched at the beginning of the financial year
made a contribution to the very satisfactory results in the third
quarter. The Q3 result of KEUR 829 (KEUR -231) highlights LPKF’s
potential for producing excellent returns on sales against the
background of increasing turnover and stable fixed costs.
However, the 11.3% decline in turnover to KEUR 16,200 (KEUR 18,266)
compared to the same period last year indicates that investment in
the global electronics market is still depressed. The Laser Systems
segment is the most strongly affected by this trend although it still
managed to generate a turnover of KEUR 9,068 (KEUR 9,986). Despite a
slight improvement in business, the Rapid PCB Prototyping segment was
still not able to match last year’s figures and generated a turnover
of KEUR 6,047 (KEUR 6,638).
The sale of the stencils production in Germany resulted in a turnover
of KEUR 804 (KEUR 1,388) in the Services segment.
A general upswing in orders received and the number of product
inquiries was first clearly felt at the end of the third quarter.
However, it is still too early to tell if this represents a
fundamental new trend.
LPKF’s figures were also depressed in the third quarter by the
weakness of the dollar.

Outlook for 2003
The last months of each year always had an important influence on the
year’s result. Therefore LPKF is not predicting a major reduction in
turnover compared to the previous year’s level. Measures have been
introduced throughout the Group to reduce fixed costs. These have
already taken hold and will continue to show considerable effect
during the further course of the second half.
A highlight for LPKF was the Productronica, one of the most important
international electronics fairs in Munich. A good follow-up business
with positive effects on the 2004 sales figures is expected.

Events after 30 September 2003
Following the licence agreements with Degussa AG, Bayer AG and Ticona
GmbH, LPKF has now signed a cooperation agreement with the Harting
Technology Group during the Productronica which will be followed by
the installation of a 3D-MID laser system. LPKF’s strategy behind
this agreement is to qualify the LPKF-LDS process especially for
micro-packaging and to consequently continue the 3D-MID marketing
strategy.

Further inquiry note:
Ulrike Thoms-von Meding
LPKF Laser & Electronics AG
Tel.: +49(0)5131 7095 382
[email protected]
Tel: +49(0)5131 7095 382
FAX: +49(0)5131 7095 90
Email: [email protected]

end of announcement euro adhoc 20.11.2003
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Emittent: LPKF Laser & Electronics AG
Osteriede 7
DE-30827 Garbsen
Tel: +49(0)5131 7095 382
FAX: +49(0)5131 7095 90
Email: [email protected]
WWW: http://www.lpkf.de
ISIN: DE0006450000
WKN: 645000
Indizes: CDAX, Prime All Share, Prime Standard, Technologie All
Share
Börsen: regulated dealing Frankfurter Wertpapierbörse; free trade
Niedersächsische Börse zu Hannover, Berliner Wertpapierbörse,
Bayerische Börse, Hamburger Wertpapierbörse, Bremer Wertpapierbörse
(BWB), Börse Düsseldorf, Baden-Württembergische Wertpapierbörse
Branche: Semiconductors & active components
Sprache: Englisch

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