Bertrandt AG
Bertrandt AG: Increased revenues for Bertrandt in the first half of fiscal 2016/2017, but revised assessment for the development of the fiscal year as a whole Dividends not affected by temporary influences
Bertrandt AG / Key word(s): Forecast/Dividend Based on preliminary unaudited figures, the Bertrandt Group increased its revenues in the first half of fiscal 2016/2017 by 2.6 percent to EUR 497.2 million (previous year EUR 484.8 million). The company’s operating profit was EUR 35.6 million (previous year EUR 42.2 million). Considering Bertrandt’s course of business in the first six months of the fiscal year and the development of the automotive industry, the Management Board of Bertrandt AG decided to adjust its assessment of the development of fiscal 2016/2017 as whole to reflect the currently challenging economic environment. Thus, the Management Board expects an increase in revenues of up to EUR 30 million over the previous year (figure expected until now: EUR 30-70 million). According to today’s assessment, operating profit relative to revenues will be between six and eight percent (until now: EUR 0-3 million higher than in the previous year). For the fiscal year as a whole, the company continues to expect a positive development of its cash flow from operating activities. Since the Management Board believes that the effects on business performance are of a temporary nature, it intends to maintain the absolute amount of the dividend of EUR 2.50 in its proposal for the appropriation of profits for the current fiscal year 2016/2017 and to deviate from its 40 percent dividend policy to the benefit of the shareholders. The three major influencing factors, i.e. the increasing variety of models and variants, environmentally friendly individual mobility and connected and automated driving, continue to offer business opportunities. Against this backdrop, the Management Board considers a medium-term annual revenue growth of EUR 20 to 50 million and an operating profit relative to revenues of between seven and nine percent as realistic.
10-May-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Bertrandt AG |
Birkensee 1 | |
71139 Ehningen | |
Germany | |
Phone: | +49 (0)7034/656-4201 |
Fax: | +49 (0)7034/656-4488 |
E-mail: | markus.goetzl@de.bertrandt.com |
Internet: | www.bertrandt.com |
ISIN: | DE0005232805 |
WKN: | 523280 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of Announcement | DGAP News Service |