Wittur Holding GmbH
Wittur Group publishes 12M 2017 annual report (news with additional features)
DGAP-News: Wittur Holding GmbH / Key word(s): Final Results/Bond PRESS RELEASE Consolidated Wittur Group with clear revenue and earnings growth in 2017 – Wittur Group 12M 2017 consolidated revenues increased by 11.3% to EUR 776.8 million – Strong underlying pro-forma revenue growth at constant currency of 8.7% – Consolidated EBITDA Adjusted increased by 9.0% to EUR 106.7 million – Net cash flow before financing activities up by 67.4% to EUR 67.7 million – Leverage ratio improved by 0.43 turns to 5.97x with reduced net financial debt of EUR 636.5 million at year end 2017
The strong growth remains a result of both, the Sematic acquisition and an organic growth, which leads to a revenue increase of 8.7% on a pro forma basis excluding FX effects and assuming the Sematic acquisition has occurred on January 1, 2016. Wittur’s European business contributed 54.2% or EUR 420.8 million to Group revenue in the twelve months of 2017 and continues a growth path by an increase of 15.8% over prior year’s figure of EUR 363.4 million. Good performance is well distributed throughout Europe where our business units in Italy, Spain, Hungary and Austria, amongst others, generated strong growth. Asian operations generated EUR 286.5 million or 36.9% of revenue in the period under review, up 4.4% over the previous year’s figure of EUR 274.5 million with a strong growth in Asia Pacific including India and a moderate revenue increase in China. The Rest of World region showed a revenue increase of 16.0% to EUR 69.4 million in the twelve months 2017 (12M 2016: EUR 59.8 million) with a strong contribution to revenue growth in Turkey and in Americas. Earnings before interest, taxes, depreciation and amortization before exceptional items (EBITDA Adjusted) of the Wittur Group increased by 9.0% to EUR 106.7 million in the period under review (prior year: EUR 97.8 million). This development was mainly influenced by the underlying revenue growth and the generation of synergies following the Sematic acquisition. The EBITDA Adjusted margin was 13.7%. One-off costs in 2017 are EUR 27.7 million over prior year, mainly due to higher extraordinary items related to the ERP roll-out in Europe including accrued penalties due to delayed deliveries after roll out as well as one-off costs related to the reorganization of business operations. Net cash flow before financing activities in the twelve months of 2017 of Wittur Group was EUR 67.7 million, an increase of 67.4% over prior year. Wittur Group’s net financial debt improved from EUR 649.7 million on December 31, 2016 to EUR 636.5 million on December 31, 2017. The corresponding leverage ratio, calculated as net financial debt to LTM EBITDA Adjusted, was 5.97x, an improvement of 0.43 turns on a pro forma basis. The financial information in this press release is based on audited financial figures of the consolidated Wittur Group, except for non-GAAP financial measures such as EBITDA Adjusted. Prior year figures include Sematic financials from April 1, 2016, the date of the acquisition, onwards, unless otherwise specified. The financial results for 2017 of Wittur International Holding are published. Dial-in numbers & Personal PIN code: Please note that the investor relation contact changed. Your new contact will be Roman Istanbuli, the Corporate Director Financing, Treasury & Investor Relations at Wittur Group. About Wittur In 2016, Wittur further expanded its global reach and its portfolio with the acquisition of the Sematic Group. Sematic S.p.A. and its subsidiaries, an Italian group founded in 1959, added a complementary product offering including complete elevator solutions, highly customised doors, electronic components and cabins. Installation of elevators and maintenance services are not part of the business. The Wittur Group has a work force of around 4,400 employees and conducts business in more than 50 countries. It is majority owned by funds managed by Bain Capital. For more information on the company, please visit www.wittur.com. Contacts Roman Istanbuli
Additional features: Document: http://n.eqs.com/c/fncls.ssp?u=HLGLRYEICU Document title: Wittur 12M 2017 Bond Report
28.03.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Wittur Holding GmbH |
Rohrbachstraße 26-30 | |
80259 Wiedenzhausen | |
Germany | |
Phone: | +49 (0)8134 18 – 0 |
Fax: | +49 (0)8134 18 – 49 |
E-mail: | info@wittur.com |
Internet: | www.wittur.com |
ISIN: | XS1188024548 |
WKN: | A14J5R |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart |
End of News | DGAP News Service |
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