DGAP-News: Francotyp-Postalia Holding AG: FP with strong third quarter - Significant growth in earnings in the first nine months of 2019
DGAP-News: Francotyp-Postalia Holding AG
/ Key word(s): Quarterly / Interim Statement/9 Month figures
P R E S S R E L E A S E
- Adjusted EBITDA up 19.9% at EUR 22.0 million - Revenue comes to EUR 152.4 million compared with EUR 154.3 million in same period of previous year - FP grows by 2.7% to EUR 98.3 million in core business; software business up 16.1% at EUR 12.9 million - Adjusted free cash flow reaches EUR 7.0 million - Forecast for 2019 fiscal year confirmed Berlin, 21 November 2019 - Francotyp-Postalia (FP), an expert in secure digital communication (ISIN DE000FPH9000), achieved a strong third quarter of 2019. The company was able to make up almost completely for the mixed first half of 2019 and to increase earnings significantly. In 2019, the company generated revenue of EUR 152.4 million compared with EUR 154.3 million in the same period of the previous year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) adjusted for positive currency effects and expenses for the JUMP transformation project increased significantly by 19.9% to EUR 22.0 million as against EUR 18.4 million in the same period of the previous year. Revenue in the Franking and Inserting segment increased to EUR 98.3 million as against EUR 95.8 million in the first nine months of the previous year. As such, FP once again successfully prevailed against the market trend and the competition, as it has done repeatedly since 2016. Its global market share rose to 12.0%. FP is recording a particularly positive performance in Germany and in the strategically important foreign markets of the US and France. In the US, the new franking system PostBase Vision was launched at the start of the third quarter of 2019. In Germany, its official sales launch took place in the fourth quarter. The sales launch in other core regions such as France and the UK is planned for the coming months. Revenue in the Franking and Inserting segment for the nine-month period includes positive currency effects of EUR 2.2 million. FP posts double-digit growth in Software/Digital segment Revenue in the Mail Services segment, which focuses on the collection, franking and consolidation of business mail, amounted to EUR 41.1 million in the first nine months of 2019 as against EUR 47.3 million in the same period of the previous year. As expected, the processed mail volume continued to decrease. However, the business position was improved in the third quarter and the decline in revenue was successfully reduced as compared to the first half of 2019. The increase in postage prices by Deutsche Post as of 1 July 2019 had a positive impact in this context. In addition, FP is implementing further strategic measures aimed at bringing about a sustained turnaround. FP achieves significant increase in adjusted EBITDA Depreciation and amortisation increased by 27.3% year-on-year to EUR 16.3 million. This was particularly due to effects from the application of IFRS 16 and higher amortisation of intangible assets. Earnings before interest and taxes (EBIT) increased to EUR 4.4 million after EUR 4.2 million in the same period of the previous year. Based on a slower business development and scaling than anticipated at the time of acquisition, FP made an impairment on an investment valued at equity (Juconn) of EUR 0.9 million in the third quarter of 2019. Consolidated net income for the first nine months of 2019 came in at EUR 2.6 million compared to EUR 3.2 million in the previous year. Earnings per share (EPS) reached 16 Cents compared to 20 Cents in the previous year. Without the impairment, consolidated net income and EPS would have been on previous year's level. In the first nine months of 2019, the company generated free cash flow of EUR 0.6 million versus EUR -2.7 million in the same period of the previous year. Adjusted for investments in finance lease assets and M&A and for expenses for the ACT project JUMP, the FP Group generated free cash flow of EUR 7.0 million as against EUR 4.3 million in the same period of the previous year. Rüdiger Andreas Günther, CEO of the FP Group, said: "As expected, FP achieved a strong third quarter of 2019. We are back on track. While revenue was roughly on a par with the previous year, we significantly improved our earnings. In the first nine months of the year, adjusted EBITDA increased significantly by almost 20% year-over-year. Although global outlook has deteriorated, we are optimistic, that with our continued and full commitment we will achieve our targets for 2019." FP confirms forecast for 2019 as a whole The anticipated development of financial performance indicators is based on the assumption of constant exchange rates. Key figures at a glance:
For press enquiries, please contact: Karl R. Thiel, VP of Corporate Communications About Francotyp-Postalia (FP) You can find out more at www.fp-francotyp.com. Contact: Francotyp-Postalia Holding AG Till Gießmann Head of Investor Relations Telefon: +49 (0)30 220 660 410 Telefax: +49 (0)30 220 660 425 E-Mail: [email protected]
21.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Francotyp-Postalia Holding AG |
Prenzlauer Promenade 28 | |
13089 Berlin | |
Germany | |
Phone: | +49 (0)30 220 660 410 |
Fax: | +49 (0)30 220 660 425 |
E-mail: | [email protected] |
Internet: | www.fp-francotyp.com |
ISIN: | DE000FPH9000 |
WKN: | FPH900 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 918047 |
End of News | DGAP News Service |
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918047 21.11.2019