CENTROTEC SUSTAINABLE AG (FRA:CEV) CENTROTEC Sustainable AG: Third Quarter business performance below expectations - earnings forecast adjusted

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13/11/2017 19:39

DGAP-Ad-hoc: CENTROTEC Sustainable AG / Key word(s): Profit Warning/9-month figures
CENTROTEC Sustainable AG: Third Quarter business performance below expectations - earnings forecast adjusted

13-Nov-2017 / 19:39 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Brilon, November 14, 2017: The third quarter of 2017 saw revenue for the CENTROTEC Group rise by 1.8% to EUR 154.6 million (previous year EUR 151.9 million). Cumulatively over the first nine months of the financial year, this metric grew by 3.0% to EUR 428.4 million (previous year EUR 415.7 million). All three segments contributed to this growth, both in the quarter in question and over the year to date. The operating result (EBIT) for the third quarter of EUR 13.4 million was 8.8% down on the prior-year figure of EUR 14.6 million. In the first nine months of the current financial year, EBIT came to EUR 19.2 million, and was therefore 17.3% lower than in the previous year (EUR 23.2 million). Earnings per share (EPS) for the third quarter of 2017 amounted to EUR 0.49 (previous year EUR 0.55), and to EUR 0.62 for the first nine months of 2017 (previous year EUR 0.78).

For the year to date, initial quantifiable successes from efforts to internationalise and the good performance in climate control and ventilation business contrast with a development in the German heating market that falls markedly short of expectations.
This produces a less favourable composition of revenue in terms of the market and product mix that has continued throughout October; earnings expectations (EBIT) have accordingly now been adjusted downwards to EUR 28 to 30 million. On the other hand it is expected that the revenue forecast will be met, more precisely in the middle of the original forecast range of EUR 575 to 600 million.

CENTROTEC Sustainable AG
CENTROTEC Sustainable AG enjoys a presence in around 50 different countries through subsidiaries and sales partners. The principal group companies are Wolf, Brink Climate Systems and Ned Air in the Climate Systems segment, specialising in heating, climate control and ventilation technology e.g. in the form of solar thermal systems, CHP units and home ventilation systems with heat recovery, as well as Ubbink and Centrotherm in the Gas Flue Systems segment, with their focus on gas flue and air piping systems. CENTROTEC is consequently Europe's only listed full-service provider of heating and climate control technology, solar thermal systems and energy-saving solutions for buildings.

CENTROTEC Sustainable AG, Am Patbergschen Dorn 9, D-59929 Brilon, Germany
ISIN: DE0005407506, WKN: 540750, home stock exchange: Frankfurt/ Main; indices: Prime All Share, Prime Industrial
For further information, contact:
CENTROTEC Sustainable AG, Carsten Vogt, Tel.: +49 (0)2961 96631-103 or
MetaCom GmbH, Georg Biekehör, Tel.: +49 (0)6181 98280-30

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Language: English
Company: CENTROTEC Sustainable AG
Am Patbergschen Dorn 9
59929 Brilon
Phone: +49 (0)2961 96631-0
Fax: +49 (0)2961 96631-100
E-mail: ir@centrotec.de
Internet: www.centrotec.de
ISIN: DE0005407506
WKN: 540750
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

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