BERLIN (dpa-AFX) - German engineering specialist Bertrandt Group (BDTG.DE) reported Thursday that its fiscal 2017 post-tax earnings declined to 43.87 million euros from last year's 63.61 million euros.
Earnings per share declined to 4.35 euros from 6.30 euros last year.
Operating profit dropped to 62.87 million euros from prior year's 92.87 million euros last year. EBIT margin was 6.3 percent.
Total revenues, however, edged up to 993.88 million euros from prior year's 992.69 million euros.
Bertrandt said its subsidiaries outside Germany continued their good performance and recorded an increase in revenues of 24.2 percent, which took this figure to 134.3 million euros.
Dietmar Bichler, chairman of the management board, said, 'External factors such as the emissions scandal and the consolidations taking place in our customer base have influenced our results in the 2016/2017 fiscal year. In some cases these have caused delays in contracts being awarded. In addition the highly competitive market has led to growing downward pressure on prices.'
The board of management and the supervisory board will propose to the annual general meeting on February 21, 2018 that the dividend payment of 2.50 euros per share should remain unchanged.
In Germany, Bertrandt shares were losing 2.19 percent to trade at 95.48 euros.
Copyright RTT News/dpa-AFX