DGAP-News: STS Group AG publishes Annual Report 2021
DGAP-News: STS Group AG
/ Key word(s): Annual Report/Annual Results
STS Group AG publishes Annual Report 2021 - Organic revenue growth of 3.0% to 242.0 mEUR (2020: 235.0 mEUR) - Adjusted EBITDA increases by 12.4% to 19.9 mEUR (2020: 17.7 mEUR) - Net financial debt reduced to 12.2 mEUR as of 31 December 2021 (31 December 2020: 22.9 mEUR) Hagen, 6 April 2022. STS Group AG (ISIN: DE000A1TNU68), a global systems supplier to the automotive industry listed in the General Standard of the Frankfurt Stock Exchange, today publishes its annual report and audited consolidated figures for the financial year 2021. Alberto Buniato, CEO of STS Group AG: "Overall we look back on solid results despite a financial year 2021 once again marked by the COVID-19 pandemic. The second half of the year in particular was marked by the majority acquisition and integration of the STS Group into the Adler Pelzer Group. STS and the Adler Pelzer Group complement each other to a great extent and offer the entire Group new opportunities and synergy potential. In particular for the planned expansion of the business in China as well as in the North American market, the Adler Pelzer Group offers corresponding tailwind for future growth." STS Group AG generated revenues of 242.0 mEUR in the reporting year 2021 after 235.0 mEUR in the previous year. With an increase of 3.0%, revenue growth was below the forecast for 2021 of around 10%, but was nevertheless satisfactory from the Management's point of view, as the original forecast was based on the assumption that the Chinese business would remain at the high level of 2020. The essential core market in China had already anticipated the trend of revived demand dynamics in the commercial vehicle sector in 2020, so that revenue in China in the financial year 2021 could not be maintained at the previous year's level as originally expected, mainly due to a weak fourth quarter. However, China reconfirmed itself as an important core market and contributed significantly to the earnings situation of the STS Group. The Materials segment fell slightly short of the previous year's level in terms of revenue and generated a negative result, which is attributable to the supplier consolidation in the automotive industry as a whole. Both revenue and earnings developed positively in the Plastics segment. The Plastics segment achieved sales growth of 16.7% in 2021. Earnings before interest, taxes, depreciation and amortisation (EBITDA) improved to 19.1 mEUR in the reporting year after 14.7 mEUR in the previous year due to cost savings. Adjusted for restructuring-related special effects, adjusted EBITDA increased to 19.9 mEUR in the financial year 2021 (2020: 17.7 mEUR). At 8.2%, the adjusted EBITDA-margin reached the expected high single-digit level (2020: 7.5%). For the financial year 2021, STS Group AG reports a positive consolidated result of 1.8 mEUR (2020: -15.9 mEUR). The previous year's consolidated result was characterised by one-off effects from the sale of the Acoustics division and therefore not comparable for the operating business development of the existing core markets of STS Group AG. Forecast 2022 The STS Group AG Annual Report 2021 is available for download in german at https://www.sts.group/de/investor-relations/publikationen. The English report will be available on 19 April 2022. Key figures financial year 2021
06.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | STS Group AG |
Kabeler Str. 4 | |
58099 Hagen | |
Germany | |
E-mail: | [email protected] |
Internet: | https://sts.group |
ISIN: | DE000A1TNU68 |
WKN: | A1TNU6 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1321365 |
End of News | DGAP News Service |
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1321365 06.04.2022