Pfeiffer Vacuum holds Annual Shareholders Meeting

The Annual Shareholders Meeting of Pfeiffer Vacuum AG was held on 22 May with an outstanding 47.02% of share capital present. The 400 shareholders voted with a large majority to adopt all items on the agenda.

The Annual Shareholders Meeting of Pfeiffer Vacuum AG was held in the Stadthalle in Wetzlar on 22 May with an outstanding 47.02% of share capital present and some 400 shareholders in attendance. Supervisory Board Chairman Dr. Michael Oltmanns chaired a harmonious Annual Shareholders Meeting. The shareholders voted with a large majority to adopt all items on the agenda.
Chief Executive Officer Manfred Bender presented a successful development of business in fiscal 2011 marked largely by the integration of adixen, a former competitor of Pfeiffer Vacuum acquired in December 2010. The merging of the sales and marketing and the product portfolio was concluded within the first year. The new resulting product combinations enable the company to supply complete vacuum solutions. Pfeiffer Vacuum and adixen are the technology leaders in all essential product groups.
“In the current year we are continuing with the fine tuning work in the adixen integration process. We intend to work on our profitability and achieve an operating margin of around 15%,” explained Manfred Bender. “Global economic conditions are still not on a solid footing. We are still receiving very mixed signals from the semiconductor market and see no signs of recovery in the solar industry. We are therefore expecting sales revenues in 2012 as a whole to be in the range of between EUR 470 and EUR 500 million.“
Only in the first year after acquiring a large rival, Pfeiffer Vacuum is already back on an extremely sound financial footing and has no net indebtedness. The cash and cash equivalents amount to EUR 108.3 million.
Against this background, the Annual Shareholders Meeting voted in favour of a dividend payout of EUR 3.15 per share. This was in line with the payout proposed by the Management and Supervisory Boards.
Manfred Bender’s presentation plus detailed information relating to the results of the voting are available at www.pfeiffer-vacuum.de/shareholders_meeting.
Pfeiffer Vacuum is one of the world’s leading providers of vacuum solutions. In addition to a full range of hybrid and magnetically levitated turbopumps, the product portfolio comprises backing pumps, measurement and analysis devices, components as well as vacuum chambers and systems. Ever since the invention of the turbopump by Pfeiffer Vacuum, the company has stood for innovative solutions and high-tech products that are used in the markets Analytics, Industry, Research & Development, Coating and Semiconductor. Founded in 1890, Pfeiffer Vacuum is active throughout the world today. The company employs a workforce of some 2,300 people and has more than 20 subsidiaries.