DGAP-News: Wittur Holding GmbH / Key word(s): Half Year Results/Bond
Wittur Group publishes the first half year results for 2019
- Topline largely at previous year's level, sales declined by 0.1% to EUR 396.5 million
- Sales increased by 1.5% at constant currency
- Adjusted Group EBITDA of EUR 57.4 million was 4.3% down on the previous year, with a stronger second quarter compared to prior year
- Net cash flow before financing activities was EUR 21.3 million
- The Group's net financial debt amounted to EUR 704.6 million, which corresponds to a leverage ratio of 5.87x
European business generated sales of EUR 211.7 million, or 53.4% of Group sales. This represented an increase in sales of 0.1% compared to the previous year (6M 2018: EUR 211.5 million) and a currency-adjusted increase of 0.5%. Despite headwinds from the cyber security incident at the beginning of the year, the European business achieved moderate growth.
The Asian business grew slightly by 0.5% compared to the previous year, which corresponds to sales of EUR 153.5 million and a revenue share of 38.7%. At constant exchange rates, sales remained at previous year's level. Particularly India and Australia showed a very positive development.
The Rest of World region showed a decline in sales of 4.3% to EUR 31.2 million based on current exchange rates. The region grew by 15.5% at constant currency. Particularly foreign exchange rate fluctuation in Argentinian Pesos and Turkish Lira caused the negative impact.
Earnings before interest, taxes, depreciation and amortization before exceptional items (EBITDA Adjusted) of the Wittur Group was EUR 57.4 million, 4.3% below the same period of previous year (6M 2018: EUR 60.0 million), with second quarter significantly better than first quarter and slightly over prior year. The EBITDA-adjusted margin was 14.5%.
Net cash flow before financing activities of the Wittur Group amounted to EUR 21.3 million in the first half year of 2019.
Group's net financial debt amounted to 704.6 million which corresponds to a leverage ratio of 5.87x.
The financial results for the first half year of 2019 of Wittur International Holding are published. A conference call for investors and analysts will take place on August 14, 2019 at 2 p.m. CEST.
Dial-in numbers & Personal PIN code:
For more information on the company, please visit www.wittur.com.
Document title: Wittur 6M 2019 Bond Report
14.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Wittur Holding GmbH|
|Phone:||+49 (0)8134 18 - 0|
|Fax:||+49 (0)8134 18 - 49|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart|
|EQS News ID:||857295|
|End of News||DGAP News Service|