technotrans SE
technotrans SE: technotrans comfortably achieves 2019 forecast
DGAP-News: technotrans SE
/ Key word(s): Annual Results
2019 financial year – Revenue target exceeded, EBIT at upper end of forecast – Dividend proposal represents EUR 0.44 per share – Board of Management launches strategic reorientation Sassenberg, March 10, 2020 – Thanks to a strong fourth quarter, technotrans exceeded its most recent revenue target for the 2019 financial year despite non-recurring effects. Consolidated revenue showed a moderate decline of 3.9 percent on the previous year, to EUR 207.9 million. Notwithstanding the muted economy and exceptional charges, the Group achieved a positive result (EBIT) of EUR 8.3 million, at the upper end of the forecast range; this represents half the prior-year figure. The Board of Management and Supervisory Board propose a dividend of EUR 0.44 per share for the past financial year. Under the slogan of “Shaping the future through development!” the Board of Management is launching a Group-wide strategic reorientation. “Cyclically related downturns in revenue and unexpected productivity restrictions at our Group company gwk following the ERP changeover were behind the marked downturn in revenue and earnings. This obliged us to adjust our forecast on two occasions. Thanks to the healthy volume of deals closed in the final quarter, we ultimately exceeded the revenue target and achieved EBIT at the top end of our expectations. Nevertheless, we are not satisfied as a whole with the business performance,” remarked Dirk Engel, Chief Executive Officer of technotrans SE, at the presentation of the audited figures for 2019. The 2019 financial year saw the technotrans Group achieve consolidated revenue of EUR 207.9 million and a consolidated operating result (EBIT) of EUR 8.3 million. These figures meant the Group improved on the adjusted revenue forecast of EUR 205 million and achieved EBIT at the top end of the expected range of EUR 7.6 to EUR 8.4 million. Compared with the previous year, revenue was down 3.9 percent. EBIT was halved, in particular as a result of negative non-recurring effects. The EBIT margin correspondingly fell from 8.0 to 4.0 percent. Net income of EUR 6.1 million was around 51 percent down on the prior-year figure. The Technology segment accounted for EUR 148.4 million of consolidated revenue. This represents a share of 71 percent. Compared with a result for the segment of EUR 8.1 million in the previous year, the 2019 financial year brought a merely balanced result. The Services segment achieved revenue of EUR 59.5 million, almost on a par with the previous year. Its sub-segment of Technical Documentation equally made a positive contribution. The segment’s lower cyclical dependency is reflected in its EBIT figure of EUR 8.3 million. Growth markets defy economic weakness Net cash from operating activities amounting to EUR 16.8 million was up EUR 10.5 million on the previous year. This change reflected positive working capital effects and lower tax payments. After deduction of the cash outflows for investing activities, there remained a comfortably positive free cash flow of EUR 7.6 million (previous year: EUR -3.8 million). The financial position is correspondingly orderly with a comfortable gearing ratio of 1.5 (net debt/EBITDA). Strategic reorientation Outlook Leading forecasting institutes expect slower global economic growth in 2020. The Board of Management believes technotrans will continue to face a challenging environment. The Board of Management and Supervisory Board will again propose to the Annual General Meeting on May 20, 2020 that half of the consolidated net profit be distributed. This represents a dividend of EUR 0.44 per share.
For further information, visit: http://www.technotrans.de About technotrans SE:
Note This communication contains statements on the future development of the technotrans Group. These reflect the present views of the management of technotrans SE and are based on the corresponding plans, estimates and expectations. We point out that the statements are subject to certain risks and uncertainties which could mean that the actual results differ considerably from those expected.
10.03.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | technotrans SE |
Robert-Linnemann-Str. 17 | |
48336 Sassenberg | |
Germany | |
Phone: | +49 (0)2583 – 301 – 1000 |
Fax: | +49 (0)2583 – 301 – 1030 |
E-mail: | info@technotrans.de |
Internet: | http://www.technotrans.de |
ISIN: | DE000A0XYGA7 |
WKN: | A0XYGA |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 993269 |
End of News | DGAP News Service |