DGAP-Adhoc: Einhell Germany AG: Preliminary financial figures of 2019; another sales record and third best result in the company's 55-years history

"Ad hoc announcement according to Article 17 MAR"

 

Preliminary financial figures of 2019: another sales record and third best result in the company's 55-years history

 

Einhell Germany AG (ISIN: DE 0005654933) which is listed under Prime Standard of Deutsche Börse AG announces the following preliminary figures:

The Einhell Group achieved once again a record turnover in the past financial year. For the financial year 2019, the Einhell Group generated revenues of € 605.7 million in comparison with the previous year of € 577.9 million.

The Einhell Group achieved earnings before tax of € 32.5 million (previous year € 36.0 million (*)) with a pretax yield of 5.4% (previous year 6.2% (*)). These earnings represent the third best result in the company's 55-years history.

The net income after minority's interest amounts to € 24.3 million (previous year € 25.9 million (*)).

The profit per share after minorities interest is calculated to € 6.4 (previous year € 6.9).

The board of directors and the supervisory board will propose at the general meeting on 19 June 2020, a dividend of € 1.40 per preferred share and € 1.34 per common share.

The Einhell Group continues to show up a very solid balance sheet structure with an equity-ratio of around 54%. As of December 31, 2019, the book value of equity per share was 56.9 Euro.

The balance sheet as of December 31, 2019 shows a bank balance of EUR 25.7 million and liabilities to banks of EUR 25.0 million.

In 2019, Einhell was able to record significant market share gains due to its consistent product development and range policy. The high investments in product development and marketing have a very positive impact here.

Current market data from Germany shows that Einhell is realizing very high gains in market share for cordless tools in the Power X-Change family. With its sold quantities, Einhell is now among the top three in the area of power tools with its competitors Bosch and Makita. In the field of garden tools, Einhell ranks first among garden devices with the most units sold, ahead of Gardena and Bosch. Particularly in the field of battery lawn mowers Einhell was able to achieve a clear leading position.

This development confirms Einhell to continue on the path with the Power X-Change battery platform consistently. Constantly, the battery technology will be further developed technically. Also the platform is to be expanded to around 170 devices in the course of 2020. Investments in the further development of the Einhell brand also should be promoted consistently.

Forecast:

For the business year 2020, the Einhell-Group assumes an increase in turnover to around € 610 million and profitability before taxes of around 5.5%. This forecast is based on the assumption of normal consumer behavior and that the Corona virus has no major impact on the business of the Einhell Group.

In February 2020, there were delays in delivery from our Chinese suppliers caused by the Corona virus. Thanks to regular, extensive shipments already before Chinese New Year, Einhell has sufficient stocks to meet customer requirements. The supply chain is now generally intact again. For the first quarter of 2020, we do not expect any negative effects due to the Corona virus. As in the rest of the world-wide economy in general, there may be effects in the further course of business, which we cannot estimate now, however.

Landau/Isar, 9 March 2020

The Board of Directors

992599  09-March-2020 CET/CEST