ASSLAR (dpa-AFX) - Pfeiffer Vacuum Technology (PFFVF.PK, PVTCY.PK) reported its mid-term outlook corresponding to the company's 3-year investment program. Over the next 3 to 5 years, the Management Board expects average annual sales growth in the high single-digit percentage range and aims to reach a global market share in the vacuum industry of over 20%. The Management Board anticipates EBIT margins above 20% in the mid-term.
For 2018, Pfeiffer Vacuum expects sales and EBIT margin at the lower end of the guidance of 640 to 660 million euros, and 14 to 16%, respectively.
Eric Taberlet, CEO of Pfeiffer Vacuum Technology AG, said during the Capital Markets Day: 'We are aiming to significantly expand our market share and to be the strong number two in our industry. In order to achieve this we will invest extensively and undergo a transformation phase in the coming years to become an even more agile and more global company.'
The company said its market position shall be strengthened by achieving growth with new products, new solutions and a broader range of services. In both business units, the company expects to strongly benefit from megatrends such as big data, e-mobility, renewable energy and nanotechnology. Regarding operations, the management intends to further strengthen the global footprint in the areas of sourcing, production and sales as part of the growth strategy. In particular, this includes the expansion of the business in China.
Copyright RTT News/dpa-AFX