STS Group AG
STS Group AG emerges stronger from 2020 and publishes positive outlook for the 2021 financial year
DGAP-News: STS Group AG
/ Key word(s): Annual Report/Forecast
Hallbergmoos/Munich, April 7, 2021. STS Group AG (ISIN: DE000A1TNU68), a global systems supplier for the automotive industry listed in the General Standard of the Frankfurt Stock Exchange, today publishes its annual report, audited consolidated figures for the 2020 financial year and confirms the key preliminary figures from the publication of March 15, 2021. Mathieu Purrey, CEO of STS Group AG: “Overall, we are very satisfied with the 2020 financial year, given the challenges posed by the COVID-19 pandemic. With the strategic measures implemented last year, we are now entering the future stronger. Thanks to the restructuring and the reduced net debt, STS has a solid basis for the targeted expansion.” 2020 financial year – Strong fourth quarter after challenging first half-year The 2020 financial year was essentially characterized by the global spread of the coronavirus pandemic, the associated worldwide economic shutdown and, in particular, the associated plant closures. The pandemic had a particular impact on the STS Group’s market environment in Europe and Central and South America. The Chinese market, on the other hand, recorded strong demand in the commercial vehicle market. In this respect, the STS Group recorded a decline in turnover of 6.2% in the 2020 financial year. Consolidated revenue fell by 15.6 mEUR from 250.7 mEUR in 2019 to 235.0 mEUR in 2020. Compared to the previous year, the Plastics and Materials segments recorded a total revenue decline of 25.0%. In contrast, the China segment was able to generate a significant increase in sales of 68.5% in the reporting year. Due to the decline in turnover, the operating result before interest, taxes, depreciation and amortization (EBITDA) for the Group in the reporting year was 14.7 mEUR and thus below the level of the previous year (2019: 15.3 mEUR). In the 2020 financial year, extraordinary expenses totaling 3.0 mEUR (2019: 2.6 mEUR) were incurred. Of these, 2.7 mEUR were related to restructuring and severance costs, of which 1.7 mEUR were for the restructuring of the Group headquarters in Hallbergmoos and the compulsory redundancies of employees. A further 0.3 mEUR was related to the sale of the Acoustics segment. Adjusted EBITDA in the 2020 reporting year at 17.7 mEUR was almost at the same level as the previous year (2019: 17.9 mEUR). The strong growth of the high-margin China segment almost compensated for the revenue-related earnings declines of the other units. The restructuring of Group headquarters also had a positive effect on adjusted EBITDA. As a result, the adjusted EBITDA margin improved from 7.1% in 2019 to 7.5% in the 2020 financial year. The result from discontinued operations includes the result of the Acoustics segment from the first ten months of the financial year of -13.2 mEUR (2019: -7.6 mEUR) and the positive result from the deconsolidation of 3.9 mEUR. The consolidated result from continuing operations amounted to -6.6 mEUR (2019: Financial year 2021 – STS starts the year strengthened The 2020 Annual Report of STS Group AG in German is available for download at www.sts.group. The English version of the 2020 Annual Report will be published on on April 16, 2021.
About STS Group: STS Group AG
07.04.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | STS Group AG |
Zeppelinstraße 4 | |
85399 Hallbergmoos | |
Germany | |
Phone: | +49 (0)811 124494 0 |
E-mail: | ir@sts.group |
Internet: | https://sts.group |
ISIN: | DE000A1TNU68 |
WKN: | A1TNU6 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1181483 |
End of News | DGAP News Service |