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DGAP-Media / 2018-11-08 / 07:00
*PRESS RELEASE*
*R. STAHL publishes figures for Q3 2018: Further improved profitability and
financial position as a result of growing sales and improved cost structures*
· *Sales up 5.8 percent year-on-year to EUR69.8 million*
· *EBITDA pre nearly doubles to EUR6.3 million, for FY 2018 now expected to
exceed previous guidance corridor*
· *Net debt lowered to EUR8.4 million*
Waldenburg, 8 November 2018 - R. STAHL, leading supplier of products and
systems for explosion protection, today publishes figures for the third
quarter 2018.
Higher sales and lower costs improved R. STAHL's profitability and financial
position year-on-year. "In the third quarter 2018, we again progressed with
our efficiency program R. STAHL 2020 according to plan", said R. STAHL's CEO,
Dr. Mathias Hallmann. "The consistent implementation of these measures will
continue to be the focus of our work in the coming months", Dr. Hallmann
added.
In the third quarter 2018, R. STAHL grew *sales* to EUR69.8 million (Q3 2017:
EUR66.0 million), a year-on-year increase of 5.8%. The business in Germany
developed very well, generating growth of 27.6% to EUR19.5 million (Q3 2017:
EUR15.3 million), particularly as a result of completions and deliveries for a
large project in Eastern Europe. The Central region - consisting of Africa and
Europe excluding Germany - posted a sales decline of 6.1% year-on-year to
EUR28.9 million (Q3 2017: EUR30.7 million). Business in the Americas region
again developed nicely. Here, the growth momentum of the previous quarter
continued, leading to an increase of sales of 24.0% year-on-year to EUR8.1
million (Q3 2017: EUR6.5 million). A major contribution came from the
reorganization of our subsidiary in the USA, which was particularly able to
further increase the business with customers from the chemical industry. In
Asia, sales of EUR13.3 million in Q3 2018 were on par with last year (Q3 2017:
EUR13.4 million).
Higher sales, improved cost structures and an exceptional income from a sale
of a property in Ettlingen significantly increased *earnings before interest,
tax, depreciation and amortization (EBITDA)* to EUR6.6 million in the quarter
under review (Q3 2017: EUR1.9 million). Similarly, *EBITDA pre exceptionals*
developed nicely and nearly doubled year-on-year to EUR6.3 million (Q3 2017:
EUR3.2 million). This also translated into an increase of *earnings before
interest and taxes (EBIT)* by EUR4.8 million to EUR3.6 million (Q3 2017:
EUR-1.2 million). *Net profit* improved to EUR2.6 million (Q3 2017: EUR-1.5
million) and *earnings per share* to EUR0.40 (Q3 2017: EUR-0.24).
At the end of Q3 2018, *net debt* was lowered to EUR8.4 million. The *equity
ratio* further improved to 28.2% quarter-on-quarter (30 June 2018: 26.8%).
*Outlook for 2018*
Our efficiency program R. STAHL 2020 continues to progress according to plan.
We now expect EBITDA pre exceptionals for FY 2018 to exceed our previous
guidance corridor. In the course of the implementation of further structural
measures, we expect higher exceptional items in this year's final quarter.
Compared to last year, 2018's net profit will improve significantly but still
be in the high single-digit negative millions as expected.
*Key figures of R. STAHL Group *pursuant to IFRS
in EUR _Change _Change
thousand *Q3 2018* Q3 2017 in %_ *9M 2018* 9M 2017 in %_
Sales *69,785* 65,979 _+5.8_ *206,011* 198,235 _+3.9_
Germany *19,485* 15,273 _+27.6_ *54,501* 44,393 _+22.8_
Central *28,864* 30,723 _-6.1_
region 1) *88,867* 90,628 _-1.9_
Americas *8,105* 6,538 _+24.0_ *22,539* 21,410 _+5.3_
Asia/Pacific *13,331* 13,445 _-0.8_ *40,104* 41,804 _-4.1_
Order
backlog as
of 30 Sep. *85,509* 102,121 _-16.3_
EBITDA pre *6,348* 3,200 _+98.4_
exceptionals
2) *12,815* 3,379 _>+100_
EBITDA *6,603* 1,885 _>+100_ *9,280* 756 _>+100_
EBIT pre *3,352* 137 _>+100_
exceptionals
2) *3,867* -5,846 _n/a_
EBIT *3,607* -1,178 _n/a_ *332* -8,469 _n/a_
Net profit *2,564* -1,543 _n/a_ *-2,363* -7,611 _+69.0_
Earnings per *0.40* -0.24 _n/a_
share (in
EUR) *-0.36* -1.18 _+69.0_
Cashflow
from
operating
activities *6,904* 11,734 _-41.2_ *11,911* 16,732 _-28.8_
Depreciation *2,996* 3,063 _-2.2_
and
amortization *8,948* 9,225 _-3.0_
Capital *2,601* 2,442 _+6.5_
expenditures *7,109* 7,526 _-5.5_
Total assets
as of 30
Sep. *238,960* 267,909 _-10.8_
Equity as of
30 Sep. *67,341* 84,355 _-20.2_
_Equity
ratio as of
30 Sep._ *28.2%* _31.5%_
Net debt as
of 30 Sep.
3) *8,384* 18,389 _-54.4_
Employees as
of 30 Sep.
4) *1,708* 1,763 _-3.1_
1) Africa and Europe excl. Germany
2) Exceptionals: restructuring charges, non-scheduled depreciation and
amortization, charges for design and implementation of IT-projects, M&A costs
as well as profit and loss from the disposal of non-current assets no longer
required for business operations.
3) Net debt: interest-bearing financial liabilities - cash and cash
equivalents
4) Excl. apprentices
*Investors' and analysts' conference call of R. STAHL AG for Q3 2018*
The Chief Financial Officer of R. STAHL AG, Volker Walprecht, will explain the
results of Q3 2018 in an investors' and analysts' conference call today at
09:00 CET and will be available for questions and discussions afterwards. The
conference call will be held in English language.
Please dial the following number to join the call and provide the following
PIN as well as your full name and company when prompted:
DE: +4969201744210
UK: +442030092470
USA: +18774230830
*PIN: 96323133#*
Along with the conference call we will provide an online presentation via the
internet simultaneously. Please log on as a participant on the following
website (no pass-word required):
Website: https://webcasts.eqs.com/rstahl20181108/no-audio [1]
An audio cast will be available shortly after the conference call has ended on
the company's website under the following link:
https://r-stahl.com/en/global/corporate/investor-relations/ir-news-and-publica
tions/events-and-presentations/ [2]
*Financial calendar *
*2018*
26 November Eigenkapitalforum, Frankfurt am Main
*2019*
28 February Preliminary Figures FY 2018
4 April Bankhaus Lampe Deutschlandkonferenz, Baden-Baden
26 April Annual Report FY 2018
9 May Interim Report Q1 2019
7 June 26th Annual General Meeting, Künzelsau-Gaisbach
8 August Interim Report Q2 2019
7 November Interim Report Q3 2019
*About R. STAHL - www.r-stahl.com*
R. STAHL is one of the world's leading suppliers of electrical and electronic
products and systems for explosion protection. These products and systems
prevent explosions in risk areas and contribute to the safety of people,
machines and the environment. The portfolio ranges from products used in
switching/ distributing, installing, operating/monitoring, lighting and
signalling/alarming, up to automation. Typical customers operate in growth
industries, such as the oil & gas industry, the chemical and pharmaceutical
industries and the food industry. In 2017, 1,763 employees generated sales of
EUR268.5 million.
The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of
Deutsche Boerse (ISIN DE000A1PHBB5).
*Contact:*
R. STAHL AG
Am Bahnhof 30, 74638 Waldenburg (Württ.)
Dr. Thomas Kornek
Head of Investor Relations & Corporate Communications
Phone: +49 7942 943 1395
e-mail: investornews@stahl.de
End of Media Release
Issuer: R. Stahl AG
Key word(s): Finance
2018-11-08 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.
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Language: English
Company: R. Stahl AG
Am Bahnhof 30
74638 Waldenburg
Germany
Phone: +49 (7942) 943-0
Fax: +49 (7942) 943-4333
E-mail: investornews@stahl.de
Internet: www.r-stahl.com
ISIN: DE000A1PHBB5
WKN: A1PHBB
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Munich, Tradegate Exchange
End of News DGAP Media
742779 2018-11-08
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(END) Dow Jones Newswires
November 08, 2018 01:02 ET (06:02 GMT)
