ASSLAR (dpa-AFX) - Pfeiffer Vacuum has lowered its forecast due to the current difficult market environment, particularly for semiconductors. Sales are likely to fall to around 900 million euros in 2024, the vacuum specialist announced in Asslar on Thursday. Previously, Pfeiffer Vacuum had forecast earnings at the previous year's level of 956 million euros. The company was also more pessimistic about profitability due to higher costs. Pfeiffer Vacuum now expects the margin before interest and taxes (EBIT) to be nine percent, instead of slightly below the previous year's figure of 11.4 percent.

Sales development in the first half of the year was "restrained", the company said. This was mainly due to the difficult environment for semiconductors. Contrary to previous expectations, the chip market is not expected to recover until the first half of 2025 and not in the second half of 2024, it added. The company also scaled back its planned investments for the current year and is now planning to invest around 70 million euros, around ten million euros less than planned. Pfeiffer Vacuum plans to present its figures for the second quarter on August 12.

The share fell by more than one percent in the afternoon. The stock had fallen out of the small-cap segment SDax at the end of June after the vacuum pump manufacturer failed to publish its quarterly financial report on time./nas/he