STEMMER IMAGING

STEMMER IMAGING publishes business figures for 2018/2019 - Group shows revenue growth despite current challenging market conditions

DGAP-News: STEMMER IMAGING AG / Key word(s): Half Year Results

26.09.2019 / 08:09
The issuer is solely responsible for the content of this announcement.


Puchheim, 26 September 2019


STEMMER IMAGING publishes business figures for 2018/2019 - Group shows revenue growth despite current challenging market conditions

* Revenue increases by 8.3 per cent to EUR 109.0 million in the 2018/2019 financial year (previous year: EUR 100.6 million) and therefore meets forecast (EUR 108 - 111 million)
* EBITDA at EUR 10.0 million (previous year: EUR 10.6 million) within the forecast range (EUR 10.0 - 12.2 million); the first half of the financial year was negatively affected by temporary integration costs
* Forecast for the planned short 2019 financial year: revenue between EUR 59.0 million and EUR 65.0 million and EBITDA of EUR 5.5 million to EUR 7.1 million



Puchheim, 26 September 2019 - After the announcement of provisional figures on 14 August 2019, STEMMER IMAGING AG (ISIN DE000A2G9MZ9/GSIN A2G9MZ) today publishes final figures for the 2018/2019 financial year. Overall, the Group developed well in the reporting period with increasing revenue by 8.3 per cent from EUR 100.6 million to EUR 109.0 million in the period from 1 July 2018 to 30 June 2019. This is primarily due to regional diversification and growth into new end markets such as Sports & Entertainment and Medical. Earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for non-recurring costs including the transition to International Financial Reporting Standards (IFRS), the switch to the Prime Standard of the Frankfurt Stock Exchange in May 2019 and costs in connection with acquisitions amounted to EUR 10.0 million compared with EUR 10.6 million in the previous year.
 

Key figures (in EUR million) 1 Jul 2018
to
30 Jun 2019

(2018/2019 financial year)
1 Jul 2017
to
30 Jun 2018

(2017/2018 financial year)
1 Apr 2019 to
30 Jun 2019

(Q4 2018/2019)
1 Apr 2018 to
30 Jun 2018

(Q4 2017/2018)
Revenue 109.0 100.6 29.5 26.2
EBITDA* 10.0 10.6 2.9 2.9
EBIT* 8.5 9.1 2.5 2.4
EBT* 8.9 9.2 2.5 2.5
Incoming orders 112.9 106.9 26.2 25.7

*adjusted


STEMMER IMAGING therefore achieved both its revenue forecast (EUR 108 to 111 million) and earnings forecast (adjusted EBITDA of EUR 10.0 to 12.2 million). The strong fourth quarter of 2018/2019 with pleasing growth in revenue and incoming orders provides a tailwind and solid foundation for further development in the short 2019 financial year. Overall, the Group feels that its expansion strategy has been validated with a balance between organic and inorganic growth in the form of profitable acquisitions at a national and international level. In this way, STEMMER IMAGING has achieved an increasingly wide regional base, is more independent of single markets and was able to escape the negative market trend with robust growth in the 2018/2019 financial year.

With the acquisition of the French ELVITEC S.A.S., the investment in the Austrian Perception Park GmbH, the acquisition of the Spanish Infaimon S.L., and the establishment of a subsidiary in Bologna, Italy, STEMMER IMAGING is now present in all major European markets with its own offices and specialist personnel. Not only for this reason, incoming orders rose by 5.6% from EUR 106.9 million to EUR 112.9 million in fiscal 2018/2019.

"Business performance was satisfactory in light of the challenging market environment. We saw gratifying revenue growth by expanding our business regionally and augmenting our product range with pioneering technologies. We want to follow through on this positive development and continue to grow sustainably and profitably in the planned short 2019 financial year," says Arne Dehn, CEO of STEMMER IMAGING AG.

In order to simplify the reporting processes, a proposal will be put forward at the Annual General Meeting on 19 November 2019 to change the current STEMMER IMAGING financial year to the calendar year. If the Annual General Meeting approves the change, there will be a short financial year in the current second half of 2019 for the period from 1 July 2019 to 31 December 2019. The year 2020 would then be the first STEMMER IMAGING financial year corresponding to the calendar year.

For the planned short 2019 financial year, the Management Board expects revenue ranging between EUR 59.0 million and EUR 65.0 million and earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 5.5 to 7.1 million. This forecast includes an expected revenue contribution of EUR 8.5 to 9.5 million and a planned EBITDA contribution of EUR 1.1 to 1.3 million from the Infaimon S.L. subsidiary, consolidated from 1 July 2019. In the first half of 2018/2019, STEMMER IMAGING AG generated revenue of EUR 50.7 million and adjusted EBITDA of EUR 4.0 million.

The 2018/2019 Annual Report can be downloaded from the Investors section of www.stemmer-imaging.de.


About STEMMER IMAGING:

STEMMER IMAGING is a leading international machine vision technology provider. With staff located across Europe, Latin America and Asia, we provide state-of-the-art machine vision solutions, extensive knowledge and outstanding customer service.

Our customers value us as a trusted advisor, positioned to deliver tailored solutions. These include components that we can pre-configure; sub-systems designed to reduce time and effort when integrating vertical applications; and customer-specific solutions delivering a competitive advantage to predominatly OEM's - all powered by our renowned knowledge and leading software tools including our own "Common Vision Blox"

VISION.RIGHT.NOW. symbolises our mission to make machine vision easy and accessible, empowering customers to deliver world-class solutions.

Contact:
STEMMER IMAGING AG
Lars Böhrnsen
Chief Financial Officer
Gutenbergstr. 9-13
82178 Puchheim
Tel.: +49 89 80902-165
ir@stemmer-imaging.de
www.stemmer-imaging.de



26.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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