DGAP-Adhoc: Vitesco Technologies Group AG: Preliminary results for fiscal year 2021 - adjusted EBIT margin and free cash flow above market expectations
DGAP-Ad-hoc: Vitesco Technologies Group AG / Key word(s): Annual Results/Preliminary Results
Vitesco Technologies Group AG: Preliminary results for fiscal year 2021 - adjusted EBIT margin and free cash flow above market expectations
15-Feb-2022 / 18:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Preliminary results for fiscal year 2021 - adjusted EBIT margin and free cash flow above market expectations
Regensburg, 15 February 2022 - According to preliminary figures, Vitesco Technologies Group AG generated group sales of around 8.35 bn euros (FY 2020: 8.03 bn euros; group guidance: 8.2 bn euros to 8.4 bn euros; market consensus as of 21 January 2022: 8.43 bn euros) in the past fiscal year 2021.
Despite the ongoing burden related to the COVID-19 pandemic as well as supply shortages for important production components such as semiconductors, the preliminary adjusted EBIT margin for the full year 2021 was at 1.8 percent (FY 2020: -1.2 percent) and thus above group guidance (1.5 percent to 1.7 percent) as well as above market consensus (1.6 percent) thanks to the good transformation progress. In absolute figures, preliminary adjusted EBIT thus came in at around 149 mn euros (FY 2020: -95 mn euros; market consensus: 136 mn euros).
Based on preliminary figures, free cash flow for the past fiscal year 2021 of roughly 113 mn euros (FY 2020: -456 mn euros) will range at the upper end of the group guidance of 70 mn euros to 120 mn euros (market consensus: 104 mn euros).
Vitesco Technologies Group AG will release more detailed preliminary figures for fiscal year 2021 on 21 February 2022. Vitesco Technologies Group AG will publish a comprehensive overview on the business development for the past fiscal year 2021 as well as the guidance for the current fiscal year 2022 upon publication of its annual report 2021 on 25 March 2022.
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Various known and unknown risks, uncertainties and other factors could cause Vitesco Technologies' actual results, its financial position, growth or performance to differ materially from the estimates presented herein. Explanations and reconciliations of key financial figures used can be found in the glossary of financial terms of the prospectus of Vitesco Technologies Group AG (available at https://ir.vitesco-technologies.com/websites/vitesco/German/4000/berichte-_-praesentationen.html#prospectus), in particular on pages F-117 ff.
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1280896 15-Feb-2022 CET/CEST