GARBSEN, GERMANY – LPKF reported first quarter revenue of €16.3 million (US$ 19.6 million), down nearly 17% year-over-year.
The decline is attributed to the Solar segment, where orders will be delivered as scheduled from the second half of 2021 onward.
The company recorded negative EBIT of €4.1 million, compared to negative EBIT of €2.4 million in the first quarter of 2020.
Incoming orders for the period were €21.5 million, compared to €21.2 million in the first quarter last year. Orders on hand amounted to €43.5 million, up 26% year-over-year. The book-to-bill ratio was 1.3.
LPKF’s board extended the appointment of CFO Christian Witt until Apr. 30, 2025.
"Thanks to the strategic and operational measures successfully implemented over the past three years, LPKF is financially stable and has a clear and ambitious growth strategy,” said Jean-Michel Richard, chairman of the supervisor board. “As chief financial officer, Christian Witt has not only successfully managed the financial development of the company but has also always actively pushed forward the growth drivers in the areas of technology, innovation and business development. LPKF as a company will retain its agility and flexibility, so it is able to respond quickly to a range of macroeconomic developments. I look forward to working with my colleagues in the coming years to execute on our growth strategy backed by the continuous development of cutting-edge technology for our customers and to create value for our shareholders."
Ed.: €1 = US$1.20