- WKN: A0WMNK
- ISIN: DE000A0WMNK9
- Land: Deutschland
Nachricht vom 11.09.2019 | 07:30
VAPIANO SE publishes figures for the first half of 2019
DGAP-News: VAPIANO SE
/ Key word(s): Half Year Results/Interim Report
Vapiano publishes figures for the first half of 2019
Taking into account the amended accounting rules under IFRS 16, the adjusted EBITDA amounted to EUR 28.5 million and the adjusted EBITDA margin to 14.5% during the reporting period. Before IFRS 16, the adjusted EBITDA in the first half of 2019 fell from EUR 14.0 million to EUR 7.6 million and the adjusted EBITDA margin from 8.0% to 3.9%. In the second quarter of 2019 an adjusted EBITDA of EUR 4.4 million was generated before IFRS 16, similar to prior year (Q2/2018: EUR 4.7 million). Therefore, the decline in the first half of 2019 compared with the previous year was in particular due to the results in the first quarter of 2019. The reported EBITDA and the reported EBITDA margin amounted to EUR 22.8 million and EUR 11.6% respectively in the first half of 2019 after IFRS 16. Before IFRS 16, the reported EBITDA fell from EUR 8.4 million to EUR 1.9 million and the reported EBITDA margin from 4.8% to 1.0%.
The adjusted result for the period in the first half of 2019 amounts to EUR -18.0 million (H1/2019 before IFRS 16: EUR -13.7 million, H1/2018: EUR -8.1 million). In the adjusted result for the period, one-time effects for restructuring of EUR 5.8 million and non-scheduled depreciation of EUR 8.4 million were adjusted. The reported result for the period amounted to EUR -34.3 million (H1/2019 before IFRS 16: EUR -29.1 million, H1/2018: EUR -17.9 million).
Equity decreased in the first half of the year from EUR 46.9 million to EUR 11.9 million (including a one-time IFRS 16 effect of EUR 5.2 million), mainly due to the negative result for the period. The consolidated equity ratio fell from 13.3% on 31 December 2018 to 5.0% (before taking into account the effects of IFRS 16) or 2.0% (including effects from IFRS 16). Net debt on 30 June 2019 increased to EUR 470.0 million. Ignoring leasing liabilities reported in accordance with IFRS 16, net debt would stand at EUR 199.8 million, an increase of 15.0% compared with 31 December 2018 (31 December 2018: EUR 173.7 million).
Cash flow from operating activities before tax and interest reached EUR 24.2 million in the first half of the year (before IFRS 16: EUR 3.2 million, H1/2018: EUR 7.4 million). The net cash flow from investment activities decreased significantly to EUR -21.7 million (H1/2018: EUR -33.9 million), reflecting the continuing, but slower, growth of Vapiano. The opening of five corporate or joint venture restaurants and two franchisee restaurants contrasted with the closure of a total of three restaurant locations (two corporate or joint venture restaurants and one operated by a franchisee). Vapiano is currently represented in 33 countries with 235 restaurants.
For the 2019 financial year, the Management Board continues to expect Group sales in the range of EUR 390 and 420 million as well as a continuing decline in the development of like-for-like sales (-2% to -4%). The adjusted EBITDA (before IFRS 16) is expected to be between EUR 20 million and EUR 25 million.
The Interim Financial Report and the presentation for analysts and investors are available on the Investor Relations pages (http://ir.vapiano.com) under the "Reports & Presentations" tab.
 Adjusted for the effects described in the transition to the adjusted EBITDA, for amortisation on reacquired franchise rights and associated deferred tax revenues and special write-offs as well as for effects from the revaluation of severance pay liabilities to non-controlling shareholders measured at fair value and recorded in the financial result.
Financial and business press:
VAPIANO SE -Key financials (in EUR million)
|Im Zollhafen 2-4|
|Phone:||+49 (0) 221 67001-0|
|Fax:||+49 (0) 221 67001-205|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||871591|
|End of News||DGAP News Service|
VAPIANO SE publishes figures for the first hal ...
VAPIANO SE: Preliminary announcement of the pu ...
VAPIANO SE: Changes on the Management Board - ...
VAPIANO SE: CEO Cornelius Everke resigning fro ...
VAPIANO SE: Termination of exclusivity with Pl ...
UmweltBank AG mit deutlichem Kurspotenzial
Die UmweltBank AG, die als einzige Bank Deutschlands den Umweltgedanken in der Satzung verankert hat, präsentierte in den letzten Jahren beeindruckende Wachstumszahlen. Sowohl die Kundeneinlagen als auch das Kreditbuch legten um durchschnittlich gut 6,3 % zu. Seit seiner Gründung hat das Kreditinstitut stets positive Ergebnisse erzielt, zuletzt im Geschäftsjahr 2018 einen Jahresüberschuss in Höhe von 25,3 Mio. €. Wir haben ein Kursziel von 14,30 € je Aktie ermittelt, was deutlich oberhalb des aktuellen Kursniveaus liegt. Die Dividendenrendite liegt bei fast 3,0 %.
Der AKTIONÄR News
25. Januar 15:32 Amazon, Walt Disney und Co: So geht es weiter
25. Januar 09:03 Evotec: Unter den Top-8 der Deutschen Bank
25. Januar 07:30 Siemens: Nächster Zukauf – die Zukunft kann kommen
News im Fokus
Linde Starts Up New Plant in China to Supply Shanghai Huali Microelectronics
23. Januar 2020, 12:00
Original-Research: UniDevice AG (von GBC AG): Kaufen
24. Januar 2020