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PRESS RELEASE: Pfeiffer Vacuum Technology AG: -2-

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PRESS RELEASE: Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum H1 2021 results: On track to reach new record sales and improved margins in fiscal year 2021

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DGAP-News: Pfeiffer Vacuum Technology AG / Key word(s): Half Year Results
Pfeiffer Vacuum Technology AG: Pfeiffer Vacuum H1 2021 results: On track to reach new record sales and improved margins
in fiscal year 2021
2021-08-03 / 07:30
The issuer is solely responsible for the content of this announcement.
PRESS RELEASE
Pfeiffer Vacuum H1 2021 results: On track to reach new record sales and improved margins in fiscal year 2021
First half 2021:
- Sales of EUR 391.2 million, up 29.6% from the previous year
- Operating result (EBIT) of EUR 48.1 million and EBIT margin of 12.3%
- Order intake of EUR 451.6 million, up 42.6% compared to previous year
Asslar, August 3, 2021. Pfeiffer Vacuum Technology AG, a leading global manufacturer of vacuum solutions, today
announced consolidated results for the first half of 2021. The Company reported a record sales level of EUR 391.2
million, an increase of 29.6% compared to the previous year (H1 2020: EUR 301.9 million). The operating results (EBIT)
reached EUR 48.1 million, an increase of 146.1% (H1 2020: EUR 19.5 million) representing a significantly improved EBIT
margin of 12.3% (H1 2020: 6.5%). The order intake for the first half of 2021 was also at a record level with EUR 451.6
million, a strong increase of 42.6% compared to the previous year (H1 2020: EUR 316.6 million).
Pfeiffer Vacuum's sales increase for the first six months of 2021 reflects strong year-over-year performance in all
market segments with the Semiconductor market remaining particularly dynamic. Sales in the Semiconductor and Emerging
Technologies market segment increased significantly by 40.7% to EUR 206.6 million (H1 2020: EUR 146.9 million). The
sales in the Analytics, Industry and R&D market segment improved by 19.1% to EUR 184.5 million (H1 2020: EUR 155.0
million). Following a new market segmentation introduced at the beginning of 2021, the previous year's figures have
been adjusted for better comparability.
The operating result (EBIT) of EUR 48.1 million represents an increase by 146.1% compared to the previous year (H1
2020: EUR 19.5 million). The EBIT margin reached 12.3% (H1 2020: 6.5%). The year-over-year increase in EBIT was
primarily a result of the increase in sales and related scale economies.
The order intake in the first half of 2021 reached EUR 451.6 million, up 42.6% compared to the first half of 2020. At
the end of the second quarter 2021, Pfeiffer Vacuum had an order backlog of EUR 183.7 million, up 46.5% compared to the
previous year and up 49.0% compared to year-end 2020 (June 30, 2020: EUR 125.4 million, December 31, 2020: EUR 123.3
million).The book-to-bill ratio, the ratio of order intake to sales, was at a robust level of 1.15 in the first half of
2021.
"I am very pleased with our strong half-year results amidst the ongoing pandemic," says Dr. Britta Giesen, CEO of
Pfeiffer Vacuum Technology AG. "Our production and support functions performed very well as we delivered a second
consecutive quarter of record sales while maintaining a stable supply chain. The market demand remains at a high level,
so we will have to continue to effectively manage tension in the supply chain and customer demand fluctuations related
to the timing of projects."
Overview of key figures:
H1/2021 H1/2020 Change

Sales EUR 391.2 million EUR 301.9 million 29.6%
EBIT EUR 48.1 million EUR 19.5 million 146.1%
Net income EUR 33.8 million EUR 13.5 million 150.4%
Earnings per share EUR 3.43 EUR 1.37 150.4%
Order intake EUR 451.6 million EUR 316.6 million 42.6%


Q2/2021 Q2/2020 Change

Sales EUR 199.5 million EUR 148.5 million 34.3%
EBIT EUR 25.5 million EUR 6.7 million 278.8%
Net income EUR17.9 million EUR 4.7 million 283.9%
Earnings per share EUR 1.82 EUR 0.47 287.2%
Order intake EUR 217.7 million EUR 143.7 million 51.5%
Order backlog EUR 183.7 million EUR 125.4 million 46.5%
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In sales by region, which describes sales according to the location of the customers in their corresponding region, robust consumer demand and investments in semiconductor capacity drove expansion in all regions. All our market segments benefit from the development of new technologies that are supporting megatrends in the market, including consumer electronics, green energy, medical and pharmaceutical innovation. In addition, our customers pursue efficiencies in their production processes. In Asia, Pfeiffer Vacuum achieved a year-over-year increase in sales by 47.6% to EUR 160.2 million for the first half of 2021 (H1 2020: EUR 108.6 million) and sales in the Americas increased by 22.0% to EUR 103.1 million (H1 2020 EUR 84.5 million). Foreign exchange impacts adversely affected sales particularly in this region. Europe showed an increase of 17.4% to EUR 127.6 million (H1 2020: EUR 108.7 million).

The gross profit for the first half of 2021 was EUR 136.2 million (H1 2020: EUR 102.6 million). The year-over-year increase is primarily due to positive economies of scale related to sales increases.

Net income increased to EUR 33.9 million (H1 2020: EUR 13.5 million), representing earnings per share of EUR 3.43 (H1 2020: EUR 1.37). Solid Balance sheet and cash-flow Total assets at the end of the second quarter 2021 were EUR 716.9 million, up 8.3% from year-end 2020 (December 31, 2020: EUR 661.8 million). Cash and cash equivalents were EUR 123.6 million (December 31, 2020: EUR 122.9 million) and remained stable. During the second quarter of 2021, an annual divided of EUR 15.8 million was paid out and financial liabilities of EUR 10.0 million were redeemed. The Company continues to be net debt free from a financial liability perspective. The equity ratio remained at a solid level of 58.5%, slightly below year-end 2020 (December 31, 2020: 59.2%). Strong 2021 fiscal year results expected Based on the record sales results for the first half 2021 and the record order intake, Pfeiffer Vacuum has raised its guidance for the full fiscal year 2021. The Company expects annual sales to reach another record level of EUR 710 million to EUR 730 million (fiscal year 2020: EUR 619 million). The EBIT margin is expected to significantly improve in 2021 to between 12.0% and 13.0% of sales (fiscal year 2020: 7.3%).

The Pfeiffer Vacuum half-year financial report 2021 is available for download at group.pfeiffer-vacuum.com/ financial-reports. Contact Pfeiffer Vacuum Technology AG Investor Relations Heide Erickson T +49 6441 802 1360 Heide.Erickson@pfeiffer-vacuum.de

About Pfeiffer Vacuum Pfeiffer Vacuum (ticker symbol PFV, ISIN DE0006916604) is a leading global manufacturer of vacuum solutions. Among a full range of hybrid and magnetically levitated turbopumps, the portfolio comprises backing pumps, leak detectors, measurement and analysis devices, components and vacuum chambers and systems. Pfeiffer Vacuum has stood for innovative solutions and high-tech products in analytics, industry, research & development, coating and semiconductor markets since its invention of the turbopump. Founded in 1890, Pfeiffer Vacuum is active worldwide. The Company employs approximately 3,300 employees, has over 20 sales and service companies, and operates 10 manufacturing sites worldwide. For more information, please go to: group.pfeiffer-vacuum.com

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Consolidated Statements of Income (unaudited)


Six months ended
Three months ended June 30, June 30,
2021 2020 2021 2020
in KEUR in KEUR in KEUR in KEUR
Net sales 199,492 148,526 391,156 301,854
Cost of sales -128,471 -99,163 -254,969 -199,219
Gross profit 71,021 49,363 136,187 102,635

Selling and marketing expenses -18,961 -18,067 -39,514 -36,100
General and administrative expenses -18,123 -15,441 -33,730 -30,759
Research and development expenses -8,531 -9,820 -17,526 -17,519
Other operating income 2,640 1,924 6,213 4,645
Other operating expenses -2,549 -1,228 -3,518 -3,354
Operating profit 25,497 6,731 48,112 19,548

Financial expenses -217 -222 -446 -453
Financial income -1 55 53 94
Earnings before taxes 25,279 6,564 47,719 19,189

Income taxes -7,330 -1,888 -13,838 -5,658

Net income 17,949 4,676 33,881 13,531

Earnings per share (in EUR):
Basic 1,82 0.47 3,43 1.37
Diluted 1,82 0.47 3,43 1.37


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Consolidated Balance Sheets (unaudited)


June 30, 2021 December 31, 2020
in KEUR in KEUR
Assets
Intangible assets 102,905 100,736
Property, plant and equipment 161,524 158,191
Investment properties 368 376
Other financial assets 2,585 2,198
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August 03, 2021 01:30 ET (05:30 GMT)

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Contract assets 223 -
Other assets 593 829
Deferred tax assets 29,704 31,306
Total non-current assets 297,902 293,636

Inventories 137,267 133,254
Trade accounts receivable 129,426 83,601
Contract assets 2,356 1,501
Income tax receivables 10,779 10,848
Prepaid expenses 5,563 4,260
Other financial assets 171 1,597
Other accounts receivable 9,893 10,265
Cash and cash equivalents 123,579 122,883
Total current assets 419,034 368,209

Total assets 716,936 661,845

Shareholders' equity and liabilities
Share capital 25,261 25,261
Additional paid-in capital 96,245 96,245
Retained earnings 341,901 323,808
Other equity components -44,118 -53,580
Equity of Pfeiffer Vacuum Technology AG shareholders 419,289 391,734

Financial liabilities 59,307 69,614
Provisions for pensions 65,777 70,348
Deferred tax liabilities 4,827 4,477
Contract liabilities 1,451 804
Total non-current liabilities 131,362 145,243

Trade accounts payable 54,150 44,937
Contract liabilities 19,998 7,296
Other accounts payable 30,031 21,478
Provisions 46,712 39,502
Income tax liabilities 11,579 8,154
Financial liabilities 3,816 3,501
Total current liabilities 166,286 124,868

Total shareholders' equity and liabilities 716,936 661,845


Consolidated Statements of Cash Flows (unaudited)


Six months ended June 30,
2021 2020
in KEUR in KEUR
Cash flow from operating activities:
Net income 33,881 13,531
Depreciation/amortization 12,425 13,294
Other non-cash income/expenses 3,629 2,511
Effects of changes of assets and liabilities:
Inventories -5,533 -11,911
Receivables and other assets -44,833 3,979
Provisions, including pensions, and income tax liabilities 11,487 -3,731
Payables, other liabilities 30,757 5,214
Net cash provided by operating activities 41,813 22,887

Cash flow from investing activities:
Capital expenditures -13,144 -13,271
Proceeds from disposals of fixed assets 136 147
Net cash used in investing activities -13,008 -13,124

Cash flow from financing activities:
Principal elements of lease payments -2,920 -2,345
Dividend payment -15,788 -12,335
Redemptions of financial liabilities -10,062 -120
Net cash used in financing activities -28,770 -14,800

Effects of foreign exchange rate changes on cash and cash equivalents 661 -558

Net change in cash and cash equivalents
696 -5,595

Cash and cash equivalents at beginning of period 122,883 111,980

Cash and cash equivalents at end of period 123,579 106,385


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2021-08-03 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

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Language: English
Company: Pfeiffer Vacuum Technology AG
Berliner Str. 43
35614 Asslar
Germany
Phone: +49 6441 802-0
Fax: +49 6441 802-1365
E-mail: info@pfeiffer-vacuum.de
Internet: www.pfeiffer-vacuum.de
ISIN: DE0006916604
WKN: 691660
Indices: SDAX, TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1223399

End of News DGAP News Service
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1223399 2021-08-03

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August 03, 2021 01:30 ET (05:30 GMT)
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