Metalcorp Group S.A.

  • WKN: A19MDV
  • ISIN: DE000A19MDV0
  • Land: Luxemburg

Nachricht vom 10.02.2020 | 10:00

Metalcorp Group with positive earnings development in 2019

DGAP-News: Metalcorp Group S.A. / Key word(s): Preliminary Results
10.02.2020 / 10:00
The issuer is solely responsible for the content of this announcement.

Metalcorp Group with positive earnings development in 2019

  • Preliminary consolidated EBITDA rises to EUR 36.1 million
  • Bauxite mine in Guinea starts trial operations

Luxemburg, 10 February 2020 - Based on preliminary figures, Metalcorp Group S.A., a global operating service provider for the procurement, logistics and trading of steel and non-ferrous metals, as well as a leading independent producer of secondary aluminium slabs in Europe, was able to increase its key consolidated year-on-year earnings for the fiscal year 2019. The company continues to benefit from its service-oriented business strategy and product diversification. With an overall increase in business volumes (an increase in zinc), preliminary consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) improved from EUR 34.3 million in 2018 to EUR 36.1 million for the full year 2019. Consolidated earnings before interest and taxes (EBIT) increased to EUR 35.4 million for 2019 (2018: EUR 32.7 million). Earnings after taxes rose from EUR 9.6 million to EUR 12.8 million. Due to a change in product mix (an increase in zinc volumes and a decrease in copper volumes) and lower metal prices, consolidated revenue amounted to EUR 545.1 million (previous year: EUR 618.9 million).

The preliminary consolidated balance sheet total increased from EUR 456.9 million to EUR 492.7 million, while the preliminary consolidated equity rose from EUR 147.2 million to EUR 160.1 million, corresponding to a preliminary consolidated equity ratio of 32.4% (31 December 2018: 32.5%). Cash and cash equivalents amounted to EUR 54.5 million as of 31 December 2019 (31 December 2018: EUR 20.8 million).

In the trading division, the risk-averse back-to-back services strategy, in which earnings are decoupled from metal price fluctuations, again proved its worth in 2019. The aluminium segment remained slightly below the previous year's level as demand in the automotive sector weakened in the second half of the year. The planned investments in Berlin and Stockach were carried out and will be completed in February 2020.

In the raw materials segment, the bauxite mine in Guinea has started trial operations. First shipments will be made in the middle of the year, before the planned production of initially 3 million tons per year will be reached in the 4th quarter of 2020.

The audited consolidated financial statements for 2019 are scheduled to be published on the company's website at in April 2020.

About Metalcorp Group S.A.:
Metalcorp Group is a globally operating provider of procurement, logistics and trade services in the ferrous and non-ferrous sectors as well as one of Europe's leading independent producers of secondary aluminium ingots. Its core competence in all segments are so-called back-to-back transactions requiring no stock-keeping, which make the Group's operations largely immune to price risks and neutralise other trading risks. With its subsidiaries and own offices the Group operates in 18 countries around the world and has four production facilities in Europe. The 2017/2022 bond (ISIN: DE000A19MDV0) is traded on the Open Market of Deutsche Börse AG ("Freiverkehr" of the Frankfurt Stock Exchange), while the 2017/2022 bond (ISIN: NO0010795701) is traded on the Oslo Stock Exchange.

For further information:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
+49 89 8896906-25

Mark Nunes
Metalcorp Group S.A.
+352 2799 0145 55

10.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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