INFICON Holding AG
INFICON achieved record fourth quarter and fiscal year 2021 results and invests in further capacity expansion
INFICON Holding AG / Key word(s): Annual Results
Bad Ragaz/Switzerland, March 3, 2022
INFICON achieved record fourth quarter and fiscal year 2021 results and invests in further capacity expansion – Fourth Quarter 2021: Sales of USD 144.5 million; 23.6% over prior-year figure and 18.2% over Q3 2021; Operating Income of USD 31.1 million or 21.5% of sales (Q4 2020: USD 21.5 million, 18.4%) – Fiscal Year 2021: Sales increase of 29.7% to USD 515.8 million (2020: USD 397.8 million); Operating Income of USD 100.4 million or 19.5% of sales (2020: USD 61.9 million; 15.6%); Net Income of USD 80.3 million or 15.6% of sales (2020: USD 49.3 million; 12.4%) – Guidance 2022: Sales of USD 550-600 million at Operating income margin of over 20% – Annual General Meeting of Shareholders and Dividend distribution: Invitation and Agenda available online. AGM of March 31 without personal attendance. Proposed distribution of CHF 21 per share: CHF 3.10 out of legal reserves from capital contributions and CHF 17.90 as ordinary dividend. This represents a payout ratio of around 70%. – Annual Report and Media/Analyst Conference: The Annual Report 2021 is online available for download. An Analyst/Media conference on the full fiscal results is scheduled for 09:30 a.m. today in Zürich (Zunfthaus Rüden, Limmatquai 42). The prepared remarks are in English and will be webcast via MS Teams. Online participants follow the link: https://ir.inficon.com/conference-calls-or-webcasts/ Record sales in fourth Quarter 2021 INFICON’s largest target market, Semi & Vacuum Coating, contributed with record sales of USD 77.5 million more than half to the overall Group sales in the fourth quarter. Sales grew again considerably by 47.6% year-over-year and by 30.9% compared with the preceding quarter. The business continued to benefit from the OEM demand from equipment manufacturers as well as from end user demand and small increases in the coating business. INFICON’s quickly advancing capacity increases as well as the positively developing new coating business for complex third party components (xParts) should allow further increasing sales in the future. In the General Vacuum market, INFICON also achieved a new record sales value of USD 36.8 million. This is a plus of 15.7% over the same prior-year figure and again an increase of 9.9% over the previous quarter. The general global market condition and especially the unaltered strong, broadly based and stable demand for INFICON products from China supported this trend. In the Refrigeration, Air Conditioning & Automotive market, sales developed stably both compared with the prior-year figure (+2.5%) as well as the third quarter 2021 (+1.2%) and remained on a high level with USD 24.5 million. The market for leak-testing of lithium ion batteries remained a major sales contributor and continues to grow rapidly. The market for Security & Energy is characterized by large public sector orders; INFICON achieved sales of USD 5.7 million. This is a small increase over the third quarter, yet a decrease of 34.5% over the prior-year closing quarter. Based on recently launched new products, INFICON also expects rising sales in this market for the current year. The gross profit developed largely in line with sales in the fourth quarter. Higher material and logistics costs, certain production bottlenecks, and the ongoing capacity expansion program pushed the gross profit margin to 46.7%. The expenses for research and product development remained on a high level with USD 11.5 million, yet increased as the other sales, general, and administrative costs only under-proportionately. The operating income for the fourth quarter was USD 31.1 million. This represents a remarkable increase of 45% over the prior-year figure. The operating income margin increased to 21.5%. Net income picked up by 54% to USD 26.3 million in the reporting quarter and thus achieved a margin of 18.2% of sales. For the fourth quarter, earnings per share were USD 10.76 after USD 7.00 a year ago. Investment program to expand capacity by 50% Full year results 2021 In comparison with 2020, INFICON achieved with a plus of 37% the most significant growth in the Semi & Vacuum Coating market. This target market contributed with USD 261.4 million just over half to Group sales. The second largest target market, General Vacuum, grew 24% to USD 133.5 million and thus accounts for about a fourth of the annual sales. With an increase of 25% year-over-year, sales to the Refrigeration, Air Conditioning & Automotive contributed USD 99.8 million or almost 20% to Group sales. Sales to the Security & Energy market picked up by 7% to USD 21.1 million. The smallest target market thus made up for some 4% of Group sales. The sales development led to a higher gross profit of USD 247 million for the year under review. The gross margin improved from 47.3% slightly to 47.9%. After a 21% year-on-year increase in research and development expenses and only a 14% increase in selling, general, and administrative costs, INFICON closed the fiscal year with a 62% increase in operating profit to USD 100.4 million and an operating profit margin of 19.5%. Net income rose by 63% to USD 80.3 million or to a margin of 15.6%. Earnings per share were USD 32.87 after USD 20.18 a year ago. Sustainability/ESG Cashflow and Balance Sheet Proposed distribution and Annual General Meeting of Shareholders Outlook 2022 Media and Analyst Conference INFICON discusses its fourth quarter and full-year results 2021 today, March 3, 2022, at an English language Media and Analyst conference in Zürich at Zunfthaus zum Rüden, Limmatquai 42, CH-8001 Zürich. The prepared remarks will also be webcast via MS Teams. Online participants please log in to the conference at https://ir.inficon.com/conference-calls-or-webcasts/ . Online participants are in a listen-only mode during the presentations. The presentation is available for download at 07:00 a.m. CET in the Investor Section of the INFICON website www.inficon.com. Annual Report 2021 INFICONs Annual Report 2021 is available online at www.inficon.com in the Investor Section or directly at https://ir.inficon.com/financial-results-and-presentations/ . INFICON again expands its reporting by a significantly expanded sustainability report. Communication Calendar 2022 E-Mail Alerts About INFICON INFICON is a leading provider of innovative instrumentation, critical sensor technologies, and Smart Manufacturing/Industry 4.0 software solutions that enhance productivity and quality of tools, processes and complete factories. These analysis, measurement and control products are essential for gas leak detection in air conditioning/refrigeration, and automotive manufacturing. They are vital to equipment manufacturers and end-users in the complex fabrication of semiconductors and thin film coatings for optics, flat panel displays, solar cells and industrial vacuum coating applications. Other users of vacuum based processes include the life sciences, research, aerospace, packaging, heat treatment, laser cutting and many other industrial processes. We also leverage our expertise in vacuum technology to provide unique, toxic chemical analysis products for emergency response, security, and environmental monitoring. INFICON is headquartered in Switzerland and has world-class manufacturing facilities in Europe, the United States and China, as well as subsidiaries in China, Denmark, Finland, France, Germany, India, Italy, Japan, Korea, Liechtenstein, Singapore, Sweden, Switzerland, Taiwan, the United Kingdom and the United States. INFICON registered shares (IFCN) are listed on SIX Swiss Exchange. For more information about INFICON and its products, please visit www.inficon.com. This press release and oral statements or other written statements made, or to be made by us contain forward-looking statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our management and are subject to a number of uncertainties and risks that could significantly affect our current plans and expectations, as well as future results of operations and financial condition. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
End of ad hoc announcement |
Language: | English |
Company: | INFICON Holding AG |
Hintergasse 15 B | |
7310 Bad Ragaz | |
Switzerland | |
Phone: | 0813004980 |
Fax: | 081 300 49 88 |
E-mail: | matthias.troendle@inficon.com |
Internet: | www.inficon.com |
ISIN: | CH0011029946 |
Valor: | 1102994 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1293151 |
End of Announcement | EQS News Service |