Wittur Holding GmbH
Wittur Holding GmbH: Preliminary unaudited results for the fiscal year 2016 and announcement of term loan repricing
DGAP-News: Wittur Holding GmbH / Key word(s): Preliminary Results/Financing PRESS RELEASE Preliminary unaudited results for the fiscal year 2016 Wiedenzhausen, Germany, March 8, 2017 – Wittur International Holding GmbH (ISIN: XS1188024548, XS1188025438) (“Wittur” and, together with its subsidiaries, the “Wittur Group”), one of the world’s leading independent elevator components manufacturers, announced today certain preliminary estimated unaudited financial information for the fiscal year ended December 31, 2016. Investors are cautioned that these estimates are preliminary in nature and based only upon information available to the company as of the date of this press release. The company has not yet completed its financial closing procedures for the fiscal year ended December 31, 2016, and these estimates have not been audited or verified by the company’s independent auditors. Accordingly, such preliminary financial data may change, and such changes may be material. Therefore, investors are cautioned not to place undue reliance on these estimates. The company expects that Wittur’s audited financial statements as of and for the fiscal year ended December 31, 2016 will be released on or about April 28, 2017. Fiscal Year 2016 Preliminary Results – Consolidated revenues will be approximately EUR 698 million. This represents an increase of 18%, compared to the Wittur Group’s pro forma revenues of EUR 590 million for the fiscal year ended December 31, 2015 (with results adjusted to give pro forma effect to the Bain Acquisition, as if such acquisition had occurred on January 1, 2015). The increase in revenues was primarily driven by the contribution of the Sematic Group and strong performance in Europe. – Consolidated EBITDA Adjusted will be approximately EUR 97 million. This represents an increase of 13%, compared to the Wittur Group’s pro forma EBITDA Adjusted for the fiscal year ended December 31, 2015 (with results adjusted to give pro forma effect to the Bain Acquisition, as if such acquisition had occurred on January 1, 2015). The improved performance was due to the contribution of the Sematic Group, as well as further realization of synergies, and was partially offset by negative exchange rate effects. Wittur estimates that on a stand-alone basis (excluding the Sematic Group’s contribution) for the fiscal year ended December 31, 2016: – Consolidated revenues would be approximately EUR 582 million, with solid revenue growth in Europe, but a slightly weaker performance in Asia, primarily driven by exchange rate effects. At constant exchange rates, revenues would be approximately 3% higher than in the prior year. – Consolidated EBITDA Adjusted would be approximately EUR 85 million. Fourth Quarter 2016 Results – Consolidated revenues will be approximately EUR 187 million, representing an increase of 29%, compared to the Wittur Group’s revenues of EUR 146 million for the three months ended December 31, 2015. – Consolidated EBITDA Adjusted will be approximately EUR 22 million, which represents an increase of 14%, compared to EUR 19 million for the three months ended December 31, 2015. Wittur estimates that on a stand-alone basis (excluding the Sematic Group’s contribution) for the three months ended December 31, 2016, revenues would be approximately EUR 148 million. About Wittur Founded in 1968, Wittur is one of the world’s leading independent elevator components manufacturers with an extensive global manufacturing footprint and sales network and a broad range of products. Its product offering features a large range of components for new elevator manufacturing and sourcing, for spare parts and for modernization and upgrades. Components made by Wittur span from sophisticated mechatronic components for elevator cabin and landing doors (including the associated opening mechanisms) to other critical components such as gearless drives, slings, safety gears and cars. Wittur was indirectly acquired by Wittur International Holding GmbH (formerly Paternoster Holding III GmbH) on March 31, 2015 (the “Bain Acquisition”). On April 1, 2016, Wittur further expanded its global reach and its portfolio with the acquisition of the Sematic Group (the “Sematic Acquisition”). Sematic S.p.A. and its subsidiaries (together, the “Sematic Group”), an Italian group founded in 1959, added a complementary product offering including complete elevator solutions, highly customised doors, electronic components and cabins. 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. Forward-Looking Statements Non-GAAP Financial Measures
08.03.2017 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, Stuttgart; Open Market in Frankfurt |
End of News | DGAP News Service |
Aktuelle News
Aktuelle Berichte
Anstehende Events
Webcasts
Events Funktionen
Weitere Funktionen
29
Nov 16
Wittur Holding GmbH
Conference Call on the publication of the 9M 2016 report of Wittur Group