DGAP-News: euromicron AG: euromicron AG turns in a positive performance in the third quarter of 2017
09.11.2017 (www.4investors.de) -
DGAP-News: euromicron AG / Key word(s): 9-month figures
euromicron AG: euromicron AG turns in a positive performance in the third quarter of 2017
09.11.2017 / 07:00
The issuer is solely responsible for the content of this announcement.
Sales increase by around 7.7% to EUR 244.0 million
Operating EBITDA improves sharply to EUR 7.2 million
New orders from continuing operations were EUR 265.3 million,
around EUR 18.9 million up on the previous year
Working capital ratio reduced by 3.5 percentage points to 16.6%
Frankfurt/Main, November 9, 2017 - euromicron AG, a medium-sized technology group and specialist for the Internet of Things (IoT), is today publishing its report on the third quarter of 2017.
Sales at September 30, 2017, were EUR 244.0 million, a year-on-year increase of around 7.7% (previous year: EUR 226.6 million). There is even double-digit sales growth of 10.0% from continuing operations after adjustment for sales effects from discontinued or sold operations. There was also a positive performance in terms of operating EBITDA, which increased from EUR 1.4 million to EUR 7.2 million. The consolidated net loss for the period at September 30, 2017, was EUR -3.8 million and so was reduced by EUR 6.0 million compared to the previous year (net loss of EUR -9.8 million).
Bettina Meyer, Spokeswoman of the Executive Board, comments: "The transformation strategy of euromicron AG also reaped positive results in the third quarter of 2017. Just about all key figures were able to be improved compared to the first nine months of fiscal 2016. That confirms we're on the right track and the strategic measures are having an impact."
"Companies in all industries are increasingly driving digitization of their business models - and implementation of that offers far-reaching development opportunities for the euromicron Group. We're well-positioned in the SME sector and a preferred partner for enterprises when it comes to digitization. Apart from our bread-and-butter business, we're therefore focusing on innovative orders with a large share of services. That's reflected in the Group's new projects, which include predictive maintenance models, smart security and building technology, and cybersecurity solutions. That means we can leverage potential in the IoT market to the full and develop scalable solutions," adds Jürgen Hansjosten from euromicron's Executive Board.
That is also evidenced in the euromicron Group's new orders from continuing operations, which totaled EUR 265.3 million in the first nine months of fiscal 2017 or EUR 18.9 million above the comparative figure for the previous year (EUR 246.4 million). Order books were EUR 139.5 million, likewise a sharp increase - of EUR 17.1 million - on the previous year's EUR 122.4 million.
Moreover, the company has made further progress in optimizing its working capital. The working capital ratio was reduced by 3.5 percentage points to 16.6% compared to 20.1% at September 30, 2016. After adjustment for the effects of factoring, working capital at September 30, 2017, was EUR 84.4 million and so EUR -3.1 million below the figure at September 30, 2016 (EUR 87.5 million) despite the sharp increase in sales volume.
The cash flow from operating activities (after adjustment for the effects of factoring) at September 30, 2017, was EUR -15.6 million, an improvement of EUR 2.1 million (previous year: EUR -17.7 million). The euromicron Group's net debt totaled EUR -103.7 million (previous year: EUR -100.9 million). This slight increase is due in particular to the increased volume of investment.
With regard to the group's further business performance, Bettina Meyer states: "New business models require investment and advance work and outlays, which result in an improvement in competitiveness in the medium term. We feel sure that, with the measures we're implementing, we're creating a forward-looking setup in the market for the euromicron Group with its strategic core fields. We aim to complete the group's transformation in 2018."
The full report for the third quarter of 2017 is available as of today on the company's website at www.euromicron.de in the section "Investor Relations/Publications/Financial Reports".
___________________________________________________________________euromicron AG (www.euromicron.de) unites medium-sized technology companies from the fields of Digital Buildings, Smart Industry and Critical Infrastructures. As a German specialist for the Internet of Things, euromicron enables its customers to network business and production processes and successfully move to a digital future. From design and implementation, operation, to related services - euromicron implements customized solutions and creates the IT, network and security infrastructures required for them. As a result, euromicron lets its customers migrate existing infrastructures gradually to the digital age. euromicron's expertise helps the company's customers increase their agility and efficiency, as well as develop new business models that lay the foundation for commercial success down the road.
The technology group is headquartered in Frankfurt/Main, has been listed on the stock exchange since 1998 and employs around 1,800 people at 32 locations. The euromicron Group comprises a total of 17 subsidiaries, including the brand names Elabo, LWL-Sachsenkabel, MICROSENS and telent. euromicron AG generated total sales of EUR325.3 million in fiscal year 2016.
Press contact euromicron AG:
Investor & Public Relations
Zum Laurenburger Hof 76
60594 Frankfurt/Main, Germany
Phone: +49 69 631583-0
Fax: +49 69 631583-17
09.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Zum Laurenburger Hof 76
+49 69 631583-0
+49 69 631583-17
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
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