Francotyp-Postalia Holding AG
Francotyp-Postalia Holding AG: Francotyp-Postalia defies coronavirus crisis with robust results in first half of 2020
DGAP-News: Francotyp-Postalia Holding AG
/ Key word(s): Half Year Results/Preliminary Results
P R E S S R E L E A S E
According to preliminary figures: – Revenue increases slightly by 0.7% to € 99.7 million – EBITDA up significantly by 11.7% at € 13.1 million – Adjusted free cash flow reaches € 9.9 million – Effects of Corona pandemic in second quarter noticable and effectively countered – Forecast for 2020 as a whole specified: decline in revenue to between € 195 million and € 203 million and EBITDA of € 24 million to € 28 million anticipated
According to preliminary calculations, revenue rose by 0.7% to € 99.7 million in the first six months of 2020. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 11.7% to € 13.1 million. Particularly due to the impact of the Corona pandemic, the development of revenue and EBITDA in the second quarter was slightly weaker. By way of active cost and liquidity management, the FP Group generated free cash flow of € 5.9 million in the first half of 2020 as compared to € -1.3 million in the same period of the previous year. Adjusted for investments in finance lease assets, M&A and payments for the ACT project JUMP, the FP Group achieved free cash flow of € 9.9 million in the reporting period (H1 2019: € 4.0 million). Stable core business The Mail Services business increased its revenue by 11.8% to € 29.3 million and achieved slight profitable growth again in the second quarter. In the first half of 2020, the processed mail volume decreased slightly due to the strong Corona effects. However, the realignment initiated at the end of 2018 with a focus on profitable revenue is showing results. Deutsche Post AG’s increase in postage tariffs in the previous year also contributed to a positive overall development. By contrast, revenue in the Software/Digital business posted an 8.5% decrease to € 8.1 million in the first half of 2020. In addition to a decline in business with hybrid mail services due to the Corona pandemic, there was still a lack of the expected revenue contributions from FP Sign and from the Internet of Things (IoT) business. There were several customer project delays in the first six months of 2020 as a result of the coronavirus, while personal consultations could take place only to a limited extent due to access restrictions. Interest in FP’s solutions has recently increased again. The company therefore remains positive about this new product area. The digital transformation is being accelerated by the changed working conditions and offers a positive environment for secure digital solutions. Consolidated net income increases Amortisation, depreciation and write-downs increased slightly to € 11.2 million in the first half of 2020 after € 10.9 million in the previous year. EBIT increased to € 1.9 million and consolidated net income rose to € 1.8 million. This corresponds to earnings per share of € 0.11 as against € 0.04 in the first half of 2019. Rüdiger Andreas Günther, CEO of the FP Group, comments: “After a good start to fiscal year 2020, the coronavirus pandemic had a considerable impact in the second quarter. The figures for the first half of the year show that FP has a sound business model and is well equipped for the future. With our comfortable liquidity position, we will continue to steer FP safely through these challenging times.” Forecast for 2020 specified Due to the economic effects of the Corona pandemic, the FP Group is still anticipating a year-on-year decline in revenue, EBITDA and adjusted free cash flow in fiscal year 2020 (assuming constant exchange rates). Based on the half-year figures and its assessments regarding the further development of the pandemic, the Management Board is specifying its forecast. FP thus anticipates a decline in revenue to between € 195 million and € 203 million and EBITDA in a range of € 24 million to € 28 million for 2020 as a whole. With regard to adjusted free cash flow, FP still expects a significant year-on-year decline. Preliminary key figures at a glance:
About Francotyp-Postalia (FP):
27.08.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Francotyp-Postalia Holding AG |
Prenzlauer Promenade 28 | |
13089 Berlin | |
Germany | |
Phone: | +49 (0)30 220 660 410 |
Fax: | +49 (0)30 220 660 425 |
E-mail: | ir@francotyp.com |
Internet: | www.fp-francotyp.com |
ISIN: | DE000FPH9000 |
WKN: | FPH900 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1123761 |
End of News | DGAP News Service |