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Ladies and Gentlemen,
The LPKF Group took an important step toward a turn-around in 2017.We are in the black again with earnings before interest and taxes(EBIT) of EUR 4.0 million. At 3.9%,our EBIT margin has not yet reached a satisfactory level,but there are many indicators that we are again on the way to achieveing profitable growth.
Business performance in 2017
Total revenue in 2017 was up 12% over the previous year's level to EUR 102.1 million.The company is pleased that all segments are expanding, although at different rates. Systems for structuring thin film solar cells saw particularly strong revenue growth at 48%. Performance in the development segment was also positive,with revenue up 8%. Earnings also showed a positive trend in these two segments. In contrast, the situation was muted in the welding and electronics segments. In the printed circuit board cutting machine business(Electronics segment) in China,pressure on margins grew considerably starting in early 2017. Newly developed machines and technologies are expected to kick off an improvement starting in 2018.
At EUR 113.2 million, incoming orders in previous year. Orders on hand at the end of the year, at EUR 38.8 million. These figures were positively influenced by the solar business. Favorable order books will put wind in our sails in 2018.
Our commitment to cost discipline allowed us success-fully lower costs further, therefore laying a solid foundation for profitable growth going forward. We returned to profitability in 2017 with positive earnings. But we cannot and will not rest on our laurels.
Fresh Start
After the drastic collapse of the LDS business with a decline in revenue of more than EUR 50 million and two subsequent years that ended with a loss (2015 and 2016),we reviewed and adjusted the strategic direction of the LPKF Group.We aim to generate sustainable and profitable revenue growth with a diversified and high-margin product portfolio.innovations and resulting unique selling point are the key here.
At the same time, we concentrated on putting in place a solid basis for new growth.This foundation consists of our"cash cows":products that have made us the market leader for many years now. These are supplemented with laser systems that will help us further replace conventional production methods in high-growth markets and -last but not least-innovative technologies that allow us to anticipate the needs of our customers and give us the opportunity to develop completely new market.
In 2018, we will increasingly focus on improving profitability in individual product segments, particularly Welding and Electronics. In order to optimize capital expenditure for this purpose, we are highlighting ROCE(Return on Capital Employed) more prominently as a key performance indicator. The goal is to quantify an adequate return on the employed capital and to measure the achievement of performance targets. In 2017,ROCE improved from6.8% in the prior year to 4.1%,but that is not a satisfactory level.
For 2018,we anticipate consolidated revenue of between EURO 103 and EUR 108 million and ROCE of between 2% and 7% , assuming the performance of the global economy is stable. We also project an EBIT margin of up to 6%. Our goal is to generate ROCE of between 10% by 2020 with innovative products, therefore for exceeding our cost of capital of 8% currently.
FOCUSED INVESTMENTS IN PROMISING TECHNOLOGIES
Our R&D activities concentrate on future technologies for applications that further advance megatrends such as miniaturization and digitization. We have kept the share of total research and development costs at a high level in recent year. In 2017,EUR 11.1 million was spent on R&D activities, which is equal to 11% revenue. The product development processes implemented for this purpose ensure that we us the available resources efficiently and effectively.
Despite comprehensive cost-cutting measures, we have spent these difficult years investing specifically in completely new technologies and processes. From experience, however, we know that it often takes more time than planned to develop and successfully launch marketable products form promising technologies. This year, we expect great strides to made in this regard.
We aim to continue the successful performance of the Development segment in 2018. In the solar segment, we currently see major opportunities that we plan to leverage with the required degree of caution, but also with vision. It is to long-term outlook in this industry has improved markedly in recent months. Here we will focus on using capacity from business areas where performance is weaker. Our business regularly sees strong fluctuation in capacity utilization. We would like to address this trend by making our organization as flexible as possible .
The LIDE(Laser Induced Deep Etching) process will help us unlock the potential of glass in the manufacture of chips and Microsystems. LIDE has great potential for future, but considerable effort is required to develop the markets for it.
LTP(Laser Transfer Printing) is a contactless printing process for functional pastes and is the digital answer to the still very widespread method of industrial screen printing .This completely new process also has enormous future potential. We are on the verge of finishing develop and then launching the LTP process. Initial revenue is expected from pilot project in 2018.
COPPORATE RESONSIBILITY
For the first time, LPKF is publishing a separate non-financial report (in accordance with Section 289b (1) sentence 3 of the German Commercial Code (Handelsgesetzbuth_HGB) in the form of a declaration of compliance with the German Sustainability Code. This documents our clear commitment to transparency, sustainability, and corporate responsibility. Our business activities rest on a foundation of responsible corporate governance focused on integrity and adherence to compliance rules. This is true both within the company and in our relationships with business partners.
以上摘抄自乐普科光电-2017年报
福唐红中国红，福唐智能是一家高科技服务企业，致力于打造激光加工第一平台，首创ASM激光加工概念，贯通激光加工脉络，提供一站式激光加工服务和进出口生意，是您值得信赖的激光加工电商平台。已创立福唐星公益《关爱下一代做更有爱的家长》传播梦想之爱，铸造品牌形象；正筹建“福唐家庭激光俱乐部”传播激光之美，引领科技亲子，铸就福唐梦中国梦。
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