INFICON continues on growth course
INFICON was able to increase its year-on-year sales in 2020. Its semiconductor business in particular proved to be a driver of growth. For operating and net profit, the measurement technology company with a manufacturing facility in Balzers, Liechtenstein saw slight year-on-year decreases.
According to an announcement by INFICON, the international measurement technology company achieved overall sales of 397.8 million US dollars in the 2020 financial year. Versus the previous year, this corresponds to growth of 4.2 percent. INFICON explains that with this, a record sales amount of 116.9 million US dollars was achieved in Q4 2020.
The semiconductor business proved to be a particular growth driver in the reporting year. Specifically, sales in the business area of Semi & Vacuum Coating increased by 16.7 percent year on year to 191 million US dollars. In the General Vacuum market, sales of 107.5 million US dollars were recorded, showing an 0.5 percent increase on 2019. In contrast, sales in the Refrigeration, Air Conditioning & Automotive business area fell by 5.7 percent versus the previous year, at 79.6 million US dollars. The market of Security & Energy also saw a decline versus the prior year, with sales of 19.7 million US dollars corresponding to a 25.9 percent decrease.
INFICON goes on to state in the press release that the gross profit was able to be maintained at the same level as the previous year at 188 million US dollars. Operating profit fell versus the previous year from 64.8 million US dollars to 61.9 million US dollars. The corresponding margin sank by 1.4 percentage points to 15.6 percent. The company gives the reason for this as a 13 percent increase in research and development investments. In contrast, the sales, general, and administrative costs were able to be reduced by 2 percent versus the previous year.
Net income of 49.3 million US dollars was reported, which had been 52.8 million US dollars in 2019. Shareholders are to be paid 88 percent of this profit in the form of a dividend of 16.00 Swiss francs per share.
In the ongoing year, INFICON is expecting to increase its sales from 420 million to 450 million US dollars. Moreover, the company is aiming to improve the operating profit margin.