DGAP-News: R. STAHL starts 2022 with sales increase and strong order intake in the first quarter - effects of Corona pandemic and Russia-Ukraine crisis negatively impact quarterly results and expectations for fu
DGAP-News: R. Stahl AG
/ Key word(s): Quarterly / Interim Statement/Quarter Results
R. STAHL starts 2022 with sales increase and strong order intake in the first quarter - effects of Corona pandemic and Russia-Ukraine crisis negatively impact quarterly results and expectations for full year - First-quarter sales of € 61.0 million up 4.8% year-on-year. - EBITDA pre exceptionals up € 0.4 million to € 3.0 million. - Net profit negatively impacted by the partial write-down on the Russian investment and amounted to € -5.4 million, compared with € -2.5 million in the same quarter of the previous year. - Earnings per share at € -0.84. - Order intake of € 75.1 million up 17.5% year-on-year. - Forecast for full year 2022 confirmed: Growth in sales and EBITDA pre exceptionals expected in the low double-digit percentage range.
This positive development extended to all regions with just one exception. In Germany, the company generated sales of € 16.9 million, up 15.5%, driven by increases from the chemical and mechanical engineering sectors. In the central region (Europe and Africa excluding Germany), sales were at exactly the same level as the previous year at € 28.2 million. The chemical industry in particular contributed to the stability of sales here. Coming from a weak level, a significant market recovery was perceptible in the Americas, resulting in an increase of 33.9% to € 6.4 million in sales. Wholesale for the oil and gas industry in particular made a gratifying contribution to sales. Only in the Asia/Pacific region did sales fall by -9.8% to € 9.5 million. R. STAHL also encountered a noticeable revival of demand for incoming orders across almost all regions and industries and was able to record an increase of 17.5% to € 75.1 million for the first quarter. As a result, order backlog increased to € 86.6 million (31 December 2020: € 72.2 million). Development of financial position and performance in the first quarter of 2022 Due to the inventory build-up of € 4.0 million, the cost of materials increased by 10.0% to € -23.6 million in the reporting period (Q1 2021: € -21.4 million). Due to the higher total operating performance and the price adjustment made, the ratio of cost of materials to total operating performance remained unchanged year-on-year at 35.4% (Q1 2021: 35.0% of total operating performance) remained almost constant. Personnel expenses increased by 5.7% to € -31.8 million, mainly as a result of higher capacities and temporarily increased working hours at the Waldenburg site. The balance of other operating income and other operating expenses increased by € 1.1 million to € -8.3 million in the reporting period (Q1 2021: € -7.2 million). Net profit decreased by € 2.9 million to € -5.4 million in the first quarter of 2022 (Q1 2021: € -2.5 million). This corresponds to earnings per share of € -0.84 (Q1 2021: € -0.39). Cash flow in the reporting period improved by € 0.9 million to € 2.7 million (Q1 2021: € 1.8 million). Cash flow from operating activities decreased by € -5.8 million to € -7.1 million (Q1 2021: € -1.3 million). This was due to the increase in working capital, which increased as a result of the build-up of inventories in particular. The liquidation of a non-current financial investment, accompanied by a slight increase in investments in intangible assets and property, plant and equipment, led to a decrease in cash flow from investment activities of € 3.0 million to € -0.2 million (Q1 2021: € -3.2 million). Overall, free cash flow in the reporting quarter was € -7.3 million or € -2.8 million below the prior-year figure (Q1 2021: € -4.5 million). As of 31 March 2022, R. STAHL Group had cash and cash equivalents of € 18.8 million available (31 December 2020: € 6.3 million). Compared to the previous year, cash and cash equivalents thus increased by € 1.5 million (Q1 2021: € 17.2 million). As a result of the negative free cash flow, net debt (excluding pension provisions and lease liabilities) increased by € 8.9 million to € 27.1 million as of 31 March 2022 compared with the level at the beginning of the year (31 December 2021: € 18.3 million). Equity improved by € 2.6 million compared to the end of the prior year to € 52.3 million. The positive equity effect from lower provisions for pension obligations compensated for the negative net profit. This resulted in a nearly unchanged equity ratio of 20.3% compared with 20.2% as of 31 December 2021.
1) Africa and Europe excl. Germany. Rounding differences and rates of change Chief Executive Officer of R. STAHL AG, Dr. Mathias Hallmann, will explain the results of Q1 2022, present an outlook for the current year and will be available for questions afterwards. The conference call will be held in English language today at 15:00 CET Please dial one of the following numbers to join the call and provide the PIN as well as your full name and company’s name when prompted: DE: +49 89 2030 35529 PIN: 3094855 https://www.webcast-eqs.com/rstahl20220512/no-audio A replay of the audio webcast will be available shortly after the conference call has ended on the company’s website under the following link: We look forward to talking to you. Financial calendar 2022 About R. STAHL – www.r-stahl.com Forward-looking statements Contact: R. STAHL AG Judith Schäuble Manager Vice President Investor Relations & Corporate Communications Am Bahnhof 30 74638 Waldenburg (Württ.) Germany Tel. +49 7942 943-1396 [email protected]
12.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | R. Stahl AG |
Am Bahnhof 30 | |
74638 Waldenburg | |
Germany | |
Phone: | +49 (7942) 943-0 |
Fax: | +49 (7942) 943-4333 |
E-mail: | [email protected] |
Internet: | www.r-stahl.com |
ISIN: | DE000A1PHBB5 |
WKN: | A1PHBB |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 1349827 |
End of News | DGAP News Service |
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1349827 12.05.2022
R. Stahl AG Stock
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