R. Stahl AG

  • WKN: A1PHBB
  • ISIN: DE000A1PHBB5
  • Land: Deutschland

Nachricht vom 26.04.2019 | 07:00

R. STAHL AG publishes audited financial figures for 2018: significant improvement in key financials as earnings and financial position continues to be enhanced by rising sales and improved cost structures

DGAP-News: R. Stahl AG / Key word(s): Annual Results

26.04.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

R. STAHL publishes audited financial figures for 2018: significant improvement in key financials as earnings and financial position continues to be enhanced by rising sales and improved cost structures
 

  • Year-on-year sales growth of 4.3 percent to EUR 280.1 million
  • EBITDA pre exceptionals up strongly by EUR 9.4 million to EUR 15.2 million
  • Significant year-on-year improvement in net profit of EUR 14.2 million to
    EUR -7.0 million (2017: EUR -21.2 million) despite higher exceptionals
  • Strong rise in free cash flow of EUR 4.4 million to EUR 12.6 million
  • No dividend proposal for financial year 2018 due to annual loss


Waldenburg, 26 April 2019 - R. STAHL, a leading supplier of explosion protection products and systems, published its financial figures for 2018 today.


Rising sales and declining costs have significantly improved R. STAHL's earnings and financial position compared to the prior-year figures. "All in all, our efficiency enhancement programme R. STAHL 2020 made greater progress than expected in 2018, and this is now taking effect," stated the Chief Executive Officer of R. STAHL, Dr. Mathias Hallmann. "In order to achieve further improvements, we will continue to focus on implementing the various programme objectives in 2019," added Dr. Hallmann.
 

In 2018, R. STAHL raised sales by 4.3 percent year on year to EUR 280.1 million (2017: EUR 268.5 million). Business in Germany performed particularly well with sales growth of 15.4 percent, or EUR 9.4 million, to EUR 70.3 million (2017: EUR 60.9 million). Sales in the Central region - comprising Africa and Europe without Germany - declined by 3.8 percent to EUR 116.1 million (2017: EUR 120.7 million). However, there was encouraging growth in the Americas region with year-on-year sales growth of 7.7 percent to EUR 31.2 million (2017: EUR 29.0 million). This was largely attributable to the realignment of the Group's US subsidiary, which was particularly successful in expanding business with clients in the chemical industry. In Asia, R. STAHL generated sales of EUR 62.5 million and thus also achieved year-on-year growth of 7.9 percent (2017: EUR 57.9 million).
 

Sales growth and productivity gains led to a significant rise in earnings before interest, taxes, depreciation and amortization (EBITDA) to EUR 9.5 million (2017: EUR 2.3 million). This had a corresponding impact on earnings before interest and taxes (EBIT), which improved by EUR 6.5 million to EUR -4.2 million (2017: EUR -10.7 million). There was similarly encouraging progress in EBITDA pre exceptionals, which more than doubled year on year to EUR 15.2 million (2017: EUR 5.8 million). Net profit of EUR -7.0 million was improved by EUR 14.2 million (2017: EUR -21.2 million), while earnings per share rose to EUR -1.10 (2017: EUR -3.28).
 

As of 31 December 2018, net debt was further reduced to EUR 5.5 million. The net debt ratio (net debt/EBITDA) amounted to 0.58 as at year-end 2018. "As a result, R. STAHL created a healthy capital structure once again in the past financial year," stated Chief Financial Officer Volker Walprecht. Despite the net loss for the year, the equity ratio of 27.3 percent remained virtually unchanged (2017: 27.7 percent).
 

Guidance for 2019

We are very solidly positioned with regard to our financial position and performance. Moreover, our efficiency programme R. STAHL 2020 continues to progress as planned. We expect the continued implementation of our measures to result in a further increase in profitability. The presupposes consistently robust demand in our main markets and stable sales growth.
 


Key figures R. STAHL Group

in EUR million   2018 2017 Change
in %
Sales revenue   280.1 268.5 +4.3
Germany   70.3 60.9 +15.4
Central region1)   116.1 120.7 -3.8
Americas   31.2 29.0 +7.7
Asia/Pacific   62.5 57.9 +7.9
Order backlog as of 31 December   72.6 92.3 -21.4
EBITDA pre exceptionals 2)   15.2 5.8 >+100
EBITDA   9.5 2.3 >+100
EBIT pre exceptionals 2)   2.0 -6.7 n.a.
EBIT   -4.2 -10.7 +61.1
Net profit   -7.0 -21.2 +67.0
Earnings per share (in EUR)   -1.10 -3.28 +67.0
Cash flow from operating activities   18.2 19.7 -7.7
Depreciation & amortization   13.6 13.0 -5.0
Capex 3)   10.4 10.4 0.0
Balance sheet total as of 31 December   227.9 249.6 -8.7
Shareholders' equity as of 31 December   62.3 69.1 -9.8
Equity ratio as of 31 December   27.3% 27.7%  
Net financial liabilities as of 31 December4)   5.5 18.1 +69.6
Employees as of 31 December 5)   1,690 1,763 -4.1
 

 

1) Africa and Europe without Germany

2) Exceptionals: restructuring charges, non-scheduled depreciation and amortization, charges for designing and implementing IT projects, M&A costs as well as profit and loss from the disposal of assets no longer required for business operations.

3) Payments for investments in intangible assets and property, plant and equipment

4) Without pension provisions

5) Without apprentices

 


Investors' and analysts' conference call of R. STAHL AG on the financial year 2018

The Chief Executive Officer, Dr. Mathias Hallmann, and the Chief Financial Officer of R. STAHL AG, Volker Walprecht, will explain the results of the financial year 2018 during an investors' and analysts' conference call at 10 am today and subsequently be available for questions and discussions. The investors' and analysts' conference call will be held in English.
 

To participate, please dial the following phone number at the time indicated and enter the participant PIN, together with your first and last name and the name of your company, when requested:
 

DE: +4969201744220
UK: +442030092470
USA: +18774230830
Participant PIN: 50848070#
 

During the conference call, we will be displaying the corresponding presentation slides online. Please log in to the following website (no password required):

Website: https://webcasts.eqs.com/rstahl20190426/no-audio

A recording of the conference call will be subsequently available on the corporate website at:

https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publications/events-and-presentations/



Financial calendar

2019
9 May                     Interim Report Q1 2019
13 - 15 May            Spring conference, Frankfurt
7 June                    26th Annual General Meeting, Künzelsau-Gaisbach
8 August                 Interim Report Q2 2019
7 November            Interim Report Q3 2019
25 - 27 November    EKF Deutsches Eigenkapitalforum, Frankfurt


About R. STAHL - www.r-stahl.com

R. STAHL is the world's leading supplier of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio ranges from products used in switching/distributing, installing, operating/monitoring, lighting and signalling/alarming up to automation. Typical customers operate in growth industries, such as the oil & gas industry, the chemical and pharmaceutical industry and the food industry. In 2018, sales amounting to around EUR 280 million were generated by 1,690 employees.

The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).
 

Contact:
R. STAHL AG
Am Bahnhof 30, 74638 Waldenburg (Württ.), Germany
Investor Relations & Corporate Communications
T: +49 7942 943-1395
E: investornews@stahl.de



26.04.2019 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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