DGAP-News: euromicron AG publishes its report on the third quarter of 2019
DGAP-News: euromicron AG
/ Key word(s): 9 Month figures
In the first nine months of 2019, euromicron generated consolidated sales of EUR221.9 million, a decline of EUR -11.1 million over the previous year (EUR233.0 million). Despite the lower sales, EBITDA (before IFRS 16) increased by EUR0.4 million to EUR2.0 million (previous year: EUR1.6 million). The EBITDA margin (before IFRS 16) was 0.9% (previous year: 0.7%). Consolidated earnings (before IFRS 16) at September 30, 2019, totaled EUR -7.7 million (previous year: EUR -7.8 million). Bettina Meyer, Spokeswoman of the Executive Board, comments: "All in all, we remained below our expectations in the first nine months of 2019. Order postponements at several operating companies weigh on our business and are not able to be offset by the positive performance of other companies. Nevertheless, we worked rigorously on important strategic issues. For instance, we were able to win an anchor investor and complete a capital increase successfully in the third quarter." In the period under review, euromicron posted a cash flow from operating activities (before IFRS 16) of EUR -16.2 million (previous year: EUR -10.7 million). That was mainly attributable to cash flow effects from working capital (before factoring). Working capital (after factoring) at September 30, 2019, was EUR40.1 million (previous year: EUR43.4 million), meaning the working capital ratio (after factoring) improved slightly to 13.1% (previous year: 13.5%). New orders at September 30, 2019, declined to EUR227.6 million (previous year: EUR243.4 million). That is due to a more selective policy for choosing projects in construction-related business in the "Smart Buildings" segment, as well as lower new orders at that segment's technology companies. Order books at September 30, 2019, were EUR154.8 million, a sharp rise of EUR13.8 million over the previous year's figure (EUR140.9 million). In view of the business performance in the first nine months, the Executive Board of euromicron AG now expects consolidated sales in the range from EUR310 million to EUR325 million and an EBITDA margin (before IFRS 16) of between 2.0% and 4.5% for fiscal 2019. The full report for the third quarter of 2019 is available as of today on the company's website at https://www.euromicron.de/en/financial-reports. About euromicron AG:
07.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
906021 07.11.2019