DGAP-News: Schaltbau Holding AG / Key word(s): Annual Results/Forecast
Munich, 2 April 2019. The Schaltbau Group's operations continued to develop positively in 2018. On a comparable basis, i.e. excluding the contributions of the Pintsch Bubenzer Group (which has been sold) and the Sepsa Group (which has been put up for sale), order intake rose by 8.4% to a record figure of EUR 553.9 million. Group sales after adjustments increased to EUR 477.7 million in 2018, corresponding to growth of 12.1% generated organically. The loss before financial result and taxes (EBIT) for the fiscal year 2018 amounting to EUR 7.3 million was, as previously announced, impacted by a number of exceptional items, particularly as a result of impairment losses recognised on the subsidiary Alte Technologies S.L.U., Barcelona, Spain ("Alte"). Excluding exceptional items, EBIT came in at EUR 16.0 million or 3.3%.
Dr Albrecht Köhler, Spokesman of the Executive Board of Schaltbau Holding AG, commented on the Group's business performance as follows: "In 2018, we made considerable progress on the road to achieving renewed, sustained strength. Apart from the good progress in terms of operations, we have managed to almost completely eliminate our legacy liabilities, enabling us to fully concentrate on the future development of the Schaltbau Group. The carriers' willingness to invest increases, and we see significant growth in demand for door systems for rolling stock and road vehicles. Furthermore, the increasing use of decentralised energy concepts, energy storage systems and smart network controls for the markets of the future such as new energy, electromobility, DC industry and smart building will drive significant growth in demand for components in the field of DC switching and charging technology. We also expect further progress in developing cost-optimised production structures and logistics processes."
In the Mobile Transportation Technology segment, order intake totalled EUR 393.5 million in 2018, up 18.0% on the previous year. Sales for the segment also grew significantly by 14.5% to EUR 303.8 million, mainly due to the favourable business performance of the Bode Group. The segment recorded negative EBIT of EUR 22.8 million in 2018, compared to negative EUR 26.4 million one year earlier. Whereas EBIT for 2017 was impacted by an impairment loss of EUR 24.2 million recognised on the Sepsa investment, this key performance figure for 2018 is stated after impairment losses totalling EUR 21.9 million, partially recognised on carrying amounts relating to Alte. Adjusted for these effects, EBIT developed positively and will gather pace in the coming quarters on the back of further improvements in productivity.
Order intake for the Stationary Transportation Technology also increased significantly. Excluding Pintsch Bubenzer, this key performance indicator totalled EUR 77.1 million and thus well up (+EUR 16.7 million) on the previous year. This performance was partly due to a major order for a train formation system. Sales, however, were 14.0% lower at EUR 60.9 million, due to customer delays in a number of projects. Segment EBIT improved to a positive EUR 2.6 million in 2018, compared with negative EUR 5.5 million one year earlier. The improvement was primarily due to the reversal of provisions for pending losses on onerous contracts for a platform screen doors project in Brazil as well as cost savings achieved through structural adjustments.
In 2018, order intake for the Components segment amounted to EUR 150.5 million, which was also above the previous year's figure of EUR 146.3 million. Significantly, sales also developed well, increasing by 11.1% to EUR 145.2 million, driven by the breadth of the product portfolio, which includes electrotechnical switches, connectors and master controllers. EBIT improved accordingly by EUR 3.7 million to EUR 25.1 million.
Outlook for 2019
Key figures from the consolidated financial statements of Schaltbau Holding AG, 2018
* Pintsch Bubenzer was deconsolidated due to its sale on 1 March 2018.
Further explanatory notes to the consolidated financial statements for the year ended 31 December 2018 are provided in the Annual Report 2018, which was published today and is now available at: www.schaltbaugroup.com. Results for the first quarter 2019 will be published in an interim statement on 30 April 2019.
02.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Schaltbau Holding AG|
|Phone:||+49 89 - 93005 - 209|
|Fax:||+49 89 - 93005 - 398|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange|
|EQS News ID:||794471|
|End of News||DGAP News Service|