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*Financial Results First Quarter 2018*
*Electronics Market in Good Condition*
*- *3M 2018 group sales at EUR 38.0 million (3M 2017: EUR 35.4 million), plus
7.4% compared to prior year; Organic Growth Rate1) 3M 2018: plus 10.4% (3M
2017: plus 11.5%)
- 3M 2018 group EBITDA1) at EUR 3.1 million (3M 2017: EUR 1.9 million), up
62.9% versus
3M 2017
- Positive net income for the first quarter 2018 of EUR 0.8 million
(3M 2017: minus EUR 0.4 million)
- 3M Group Cash Flow from operating activities reached minus EUR 1.0 million
(3M 2017: minus EUR 2.9 million)
- On 31 March 2018, Order Backlog1) at EUR 113.0 million (plus EUR 17.0
million compared to 31 March 2017), cash at EUR 27.0 million, Net Debt1) at
EUR 0.8 million (31.12.2017:
Net Cash EUR 0.7 million), Equity Ratio1) at 56.3% (31.12.2017: 57.4%)
*Luxembourg, 30 April 2018 *- Q1 2018 sales of exceet amounted to EUR 38.0
million, an increase by 7.4% versus the corresponding quarterly figure of the
previous year and surpassing the turnover of the preceding quarter by 9.7%. In
Q1 2018 an EBITDA of EUR 3.1 million was achieved, +62.9% compared to Q1 2017
and +107.3% versus the preceding Q4 2017. EBIT reached EUR 1.4 million after
it had been marginally positive one year ago. exceet's Order Backlog increased
further to
EUR 113.0 million after having exceeded the EUR 100.0 million mark at the end
of 2017 (31.12.2017: EUR 107.3 million).
*Electronic Components, Modules & Systems (ECMS*) whichaccounts for 93.9% of
group sales, increased its external net sales by 8.6% to EUR 35.7 million
during the first three months of 2018 (3M 2017: EUR 32.8 million). The EBITDA
of the segment reached EUR 4.1 million, plus 28.0% compared to the prior year
(3M 2017: EUR 3.2 million) reflecting an EBITDA Margin for the segment of
11.4% (3M 2017: 9.7%).
1) See note 19 "Alternative Performance Measures (APM)" Page 27-29
http://www.exceet.com/fileadmin/exceet/downloads/ir/q_bericht/exceet_Group_Q1_
2018_Quarterly_Report.pdfpage=27 [1]
The positive sales trend of 2017 continued during the first three months of
2018 and has set a favourable basis for the group's further business
development in 2018. This was achieved with new projects and higher volumes
ordered by existing customers in a positive market environment. The pick-up of
sales in Ebbs (Austria) leveraged positively the performance of group
revenues. Higher order volumes and a strong backlog situation supported this
positive development.
The increasing demand for exceet's wafer backend solution which offers
added-value features along the entire value chain for high-end micro- and
opto-electronic solutions was an additional positive aspect of the first
quarter. On the other side, the sales of medical grade body wearable products
continued to be moderate due to project delays.
The group's high-end printed circuit board business which is focused on
miniaturized applications for the medical industry started into 2018 on a
stable level. The ongoing development of the semi-additive process looks
promising and will be continued in 2018.
In addition, the integrated development of hardware and software becomes more
and more important for the segment. The demand for microprocessor related
product suites as well as for customer-specific product bundles like control
units and displays continues to be on a high level.
*exceet Secure Solutions (ESS)* contributed 6.1% to group sales and generated
external revenues of EUR 2.3 million in the first three months of the year,
minus 9.2% versus the prior year figure
(3M 2017: EUR 2.6 million). The EBITDA for the reporting period remained
negative with minus EUR 0.2 million versus minus EUR 0.6 million for the same
period last year.
The segment was able to win new customers in the field of electrical
interconnect and automation solutions as well as in new markets like renewable
energy production. The modular product suite "exceet connect" which ensures
secure communication between users and devices was launched and first customer
orders have been received.
In collaboration with partners, exceet will combine the block chain technology
with classic cryptographic solutions and at the same time integrate hardware
security modules (HSM) in its product suite. Together with its eSignature and
HSM solutions, ESS offers a complete digital and secure communication
portfolio.
*Outlook*
After an overall satisfying business year 2017, the first quarter of the new
fiscal year confirmed the management's positive expectations that had already
been expressed in the 2017 full year report and gives cause for further
optimism. Latest order backlog figures have been marking a fresh record level
for the group and suggest a reasonable assumption of a mid-single digit
organic top line growth for the current portfolio of exceet's electronics
activities. A pre-condition for this scenario is the absence of major general
economic or industry-related disruptions. Points of concerns to be mentioned
are geopolitical conflicts, trade conflicts, Eurozone tensions, global
indebtedness and monetary policy. With respect to the electronics industry,
electronic material shortages and longer lead times for specific components
have to be outlined again. Also, a lack of highly qualified employees remains
a crucial factor for future growth.
1) See note 19 "Alternative Performance Measures (APM)" Page 27-29
http://www.exceet.com/fileadmin/exceet/downloads/ir/q_bericht/exceet_Group_Q1_
2018_Quarterly_Report.pdfpage=2 [1]7
The EBITDA margin has entered a solid recovery process and is now catching up
step-by-step. But the project driven characteristics of exceet's business - as
outlined several times before - can lead to a certain volatility of this
figure on a quarterly basis.
exceet's portfolio seems to be in a promising position to create further value
for exceet's shareholders. The Management and Board of Directors continue to
assess exceet's activities to improve the value of its portfolio. This may
result in an active portfolio management which includes the acquisition and
sale of companies.
If the coming shareholder meeting of 2 May 2018 approves the transfer of the
registered office of the company, the new address will be:
17, rue de Flaxweiler, L-6776 Grevenmacher (Luxembourg)
New phone number from 1 July 2018 - +352 283 84 720
*Annex: Performance and Structural Data first quarter 2018*
Complete Interim Management Report on the first quarter 2018 available at
http://www.exceet.com/fileadmin/exceet/downloads/ir/q_bericht/exceet_Group_Q1_
2018_Quarterly_Report.pdf
and Company Presentation at
http://ir.exceet.com/fileadmin/exceet/downloads/ir/presentations/exceet_Group_
Q1_2018_Company_Presentation.pdf
*Please contact for further information:*
*Wolf-Günter Freese, CEO & CFO - Email: *Investor.relations@exceet.com
exceet Group SE
115 avenue Gaston Diderich
L-1420 Luxembourg
Phone +352 26 29 91 22
ISIN LU0472835155 (Public Shares), Regulated Market, Prime Standard,
Frankfurt/Main
*exceet will announce half year results 2018 on 6 August 2018*
(after closing of the market)
*About exceet*
exceet is a portfolio of international technology companies which are
specialized in the development and production of intelligent, complex and
secure electronics.
End of Media Release
Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=FECEWAIFVS [2]
Document title: exceet GroupSE-Performance and Structural Data
Issuer: exceet Group SE
Key word(s): Enterprise
2018-04-30 Dissemination of a Press Release, transmitted by DGAP - a service
of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
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Archive at www.dgap.de
Language: English
Company: exceet Group SE
115, avenue Gaston Diderich
1420 Luxemburg
Luxemburg
Phone: +352 2629 9122
Fax: +352 2629 9150
E-mail: info@exceet.ch
Internet: www.exceet.ch
ISIN: LU0472835155, LU0472839819
WKN: A0YF5P, A1BFHT
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange
End of News DGAP Media
681099 2018-04-30
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(END) Dow Jones Newswires
April 30, 2018 12:51 ET (16:51 GMT)
