Pfeiffer Vacuum (PFV) H1 2025 earnings summary

Executive summary

• Revenue declined by 7.1% to €419.9M in H1 2025, with order intake down 9.1% year-over-year to €363.5M.

• Operating income fell to €29.9M from €37.7M, and net income dropped to €18.4M from €24.7M compared to H1 2024.

• Gross margin improved to 38.5% (from 37.2%), but EBIT margin decreased to 7.1% (from 8.4%).

• Cash flow from operations increased to €25.4M, while cash and equivalents fell to €121.2M.

• Workforce slightly decreased to 3,945 employees as of June 30, 2025.

Financial highlights

• Revenue: €419.9M (down 7.1% year-over-year); order intake: €363.5M (down 9.1%).

• Gross profit: €161.8M (down €6.1M); gross margin: 38.5% (up from 37.2%).

• Operating income: €29.9M (down €7.8M); EBIT margin: 7.1% (down from 8.4%).

• Net income: €18.4M (down €6.3M); EPS: €1.86 (down from €2.50).

• Operating cash flow: €25.4M (up from €20.0M); capex: €18.5M (down from €28.8M).

Outlook and guidance

• Full-year 2025 revenue expected to match 2024 (€884.6M), assuming stable conditions.

• EBIT margin forecasted between 7% and 8% for 2025, barring further geopolitical or economic deterioration.

• High uncertainty remains due to global economic and geopolitical risks, especially in the semiconductor sector.