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exceet Group SE: Financial Results First Half Year 2018 Intact Outlook: Visible Progress of Profits

Dow Jones received a payment from EQS/DGAP to publish this press release.

DGAP-Media / 2018-08-06 / 19:12 
 
*Financial Results First Half Year 2018* 
 
*Intact Outlook: Visible Progress of Profits* 
 
*- *6M 2018 group Net Sales (including the exceet electronics activities) at 
EUR 78.4 million 
(6M 2017: EUR 71.1 million), plus 10.2% compared to prior year; Organic 
Growth Rate1) 
6M 2018: plus 13.0% (6M 2017: plus 8.1%). 
 
- 6M 2018 group EBITDA1) (including the exceet electronic activities) at EUR 
7.7 million 
(6M 2017: EUR 4.5 million), up 71.0% versus 6M 2017, reaching 9.8% of Net 
Sales. 6M 2018 group Net Profit (including the exceet electronics 
activities) at EUR 1.1 million (6M 2017: EUR minus 10.3 million). 
 
- On 30 June 2018, Order Backlog1) at EUR 51.3 million (plus EUR 4.3 million 
compared to 
30 June 2017); Cash at EUR 25.7 million, Net Cash1) at EUR 0.1 million and 
Equity Ratio1) at 57.3% 
 
- On 22 May 2018, exceet informed about its entry into a structured process 
to prepare a potential sale of its portfolio company AEMtec GmbH (Germany), 
containing the group's micro- and opto-electronic activities. 
 
- On 30 July 2018, exceet completed the sale of its exceet electronics 
activities, out of the group's ECMS segment accounting for EUR 55.8 million 
of sales in the full year of 2017. The sales price amounted to EUR 30.8 
million. 
 
*Grevenmacher, 6 August 2018 *- The Board of exceet Group SE decided on 29 
June 2018 to sign an agreement to sell the exceet electronics activities (EE 
activities) of exceet. These activities are part of exceet's business 
segment Electronic Components, Modules & Systems (ECMS) and include the 
operating locations in Grossbettlingen (Germany), Ebbs (Austria) and 
Rotkreuz (Switzerland). As a consequence, the group's IFRS reporting will be 
split into "Continued Operations" and "Discontinued Operations" as of Q2 
2018. 
 
1) See note 21 "Alternative Performance Measures (APM)" Page 31 - 34 
www.exceet.com/Q2-2018-Report-APM 
 
*Electronic Components, Modules & Systems (ECMS*) accounts, including the 
exceet electronics activities, for 94.1% of group sales and increased its 
external net sales by 11.3% to EUR 73.8 million during the first half-year 
of 2018 (6M 2017: EUR 66.2 million). 
 
_Continued Operations ECMS_ 
 
The ECMS segment without the EE activities realized net sales of EUR 42.7 
million (6M 2017: EUR 40.4 million), which is an increase by 5.8%. The 
EBITDA amounts to EUR 8.9 million 
(6M 2017: EUR 7.7 million) resulting in an EBITDA Margin of 20.8% (6M 2017: 
19.1%). 
 
Ongoing efforts in the development of new projects paid by the customers and 
higher volumes ordered by existing customers in a positive market 
environment supported the continuation of the positive business development 
of the ECMS activities in line with the outlook given previously. The gain 
of new customers validated the strategic approach to invest into the wafer 
backend process and as well into the semi-additive process for PCB's. These 
processes are strengthening the technology portfolio and know-how of ECMS 
which allows a further broadening of the customer base. 
 
The project to optimize the floor area and related production flows at the 
location in Küssnacht (Switzerland) has started. This project will be 
realized aside the running businesses and will last till the end of 2019. 
 
_Discontinued Operations_ 
 
The discontinued exceet electronics activities showed a good performance in 
the first half-year 2018 and increased its net sales by 21.6% to EUR 31.4 
million (6M 2017: EUR 25.9 million). The EBITDA1) reached EUR 0.7 million, 
compared to the prior year (6M 2017: minus EUR 0.8 million) reflecting an 
EBITDA Margin1) of 2.3% (6M 2017: minus 3.1%). 
 
This positive business development is driven by the actual high demand for 
microprocessor related product suites as well as customer-specific product 
bundles like control units and displays. In this supportive market 
environment, the sales team of the EE activities was able to win a growing 
number of projects and new customers. Other success factors are the 
long-term customer relationships with a sustainable development support for 
the customers and the favourable sales development of the operations in 
Ebbs. The good perspectives of the sales pipeline still offer an excellent 
outlook for the future, regarding revenue growth and margin development. 
 
*exceet Secure Solutions (ESS)* contributed 5.9% to group sales (Total Group 
Basis). ESS generated external revenues of EUR 4.6 million after EUR 4.9 
million in H1 2017 (minus 5.3%). The EBITDA for the first six months 
amounted to minus EUR 0.5 million versus minus 
EUR 1.3 million the year before. 
 
1) See note 21 "Alternative Performance Measures (APM)" Page 31 - 34 
www.exceet.com/Q2-2018-Report-APM 
 
In the field of industry routers and customized gateways, the demand for 
connected solutions regarding remote services is still on a high level. The 
segment was able to win an automotive supplier in Europe as customer for its 
light-grid systems. The light-grids monitor the contours of plastic shipping 
containers and boxes. This leads to significant shorter processing and 
commissioning times and reduces transport costs on the customer's side. 
Additionally, ESS was able to win new projects in the rising market of 
renewable energy production 
 
Based on the modular product suite "exceet connect" ESS offer - together 
with its partner Interxion - end2end security solutions that protect edge- 
and fog-computing environments as well as computing centres and public 
clouds, by giving clients the proper level of data security for each and 
every digital use case. This makes the segment an innovator and source of 
support in developing secure Industry 4.0 environments. But the further 
business development in this sector continues from a still moderate level. 
 
*Outlook* 
 
The management of exceet reiterates its outlook as given in the Annual 
Report 2017 and confirmed in the first quarterly report 2018. The group is 
confident to achieve at least the envisaged mid-single digit top line growth 
on a comparable basis and gain further visible progress in profitability as 
measured by the EBITDA Margin. The actual Order Backlog of the continued 
operations (on 30 June 2018 EUR 51.3 million) is supporting a generally 
optimistic view on the second half of the current year. As already mentioned 
in earlier reports, certain electronic material shortages and longer lead 
times for specific electronic components continue to have an impact on 
business conditions in the electronics industry and are potentially putting 
constraints on exceet to execute some customer orders in the agreed time. 
Finally, the EBITDA Margin has entered a solid recovery process, but the 
project driven characteristics of exceet's business - as outlined several 
times before - can lead to a certain volatility of this figures on a 
quarterly basis. 
 
The actual sale of the exceet electronics activities (completed on 30 July 
2018) and the started sales process of its micro- and optoelectronic 
activities (announced on 22 May 2018) are part of exceet's targeted active 
portfolio management. The focus of the future capital allocation is to take 
opportunities of organic growth and acquisition prospects as well as the 
optimization of the shareholder value. Basic elements of this strategy are 
further investments in the development of the remaining electronic 
activities and the acquisition of technology driven companies notably within 
the healthcare market. 
 
In the case of the potential sale of AEMtec GmbH, which contains the micro- 
and optoelectronic activities of the group, a broadly structured process has 
been initiated to create the pre-conditions for any possible transaction. 
But a decision as to whether and at which date a potential sale will take 
place has not yet been made. 
 
*Annex: Performance and Structural Data first half year 2018* 
Complete Interim Management Report on the first half year 2018 available at 
www.exceet.com/Q2-2018-Report 
 
and Company Presentation at 
www.exceet.com/Q2-2018-Presentation 
 
*Please contact for further information:* 
 
*Wolf-Günter Freese, CEO & CFO - Email: *Investor.relations@exceet.com 
exceet Group SE 
17, rue de Flaxweiler 
L-6776 Grevenmacher 
Phone +352 28 38 47 20 
 
ISIN LU0472835155 (Public Shares), Regulated Market, Prime Standard, 
Frankfurt/Main 
 
*exceet will announce 9 months results 2018 on 5 November 2018* 
(after closing of the market) 
 
*About exceet* 
exceet is a listed holding company focusing on technology corporations 
within the healthcare and electronics markets. 
 
End of Media Release 
Additional features: 
 
Document: http://n.eqs.com/c/fncls.ssp?u=MJOBDWYDPD [1] 
Document title: Financial Results First Half Year 2018 Intact Outlook: 
Visible Progress of Profits 
 
Issuer: exceet Group SE 
Key word(s): Enterprise 
 
2018-08-06 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, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language: English 
Company:  exceet Group SE 
          17, rue de Flaxweiler 
          6776 Grevenmacher 
          Luxemburg 
Phone:    +352 2838 4720 
Fax:      +352 2838 4729 
E-mail:   info@exceet.com 
Internet: www.exceet.com 
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 
 
711325 2018-08-06 
 
 
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=b58fa875daf03f684d742b75ab8ef408&application_id=711325&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

August 06, 2018 13:12 ET (17:12 GMT)

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