STEMMER IMAGING

STEMMER IMAGING AG publishes nine-month figures - increased profitability in the third quarter

DGAP-News: STEMMER IMAGING AG / Key word(s): Quarterly / Interim Statement

13.05.2019 / 15:47
The issuer is solely responsible for the content of this announcement.


Puchheim, 13 May 2019


STEMMER IMAGING AG publishes nine-month figures - increased profitability in the third quarter

* Increased profitability in the third quarter of 2018/2019 with adjusted EBITDA of EUR 3.1 million (Q3 2017/2018: EUR 2.9 million)
* Adjusted EBITDA at EUR 7.1 million (9M 2017/2018: EUR 7.7 million)
* Return to earnings growth in the third quarter of 2018/2019 with adjusted EBITDA of EUR 3.1 million (Q3 2017/2018: EUR 2.9 million)
* Incoming orders rise by 6.6 per cent to EUR 86.7 million in the first nine months of the year (9M 2017/2018: EUR 81.3 million)


Puchheim, 13 May 2019 - STEMMER IMAGING AG (ISIN DE000A2G9MZ9/WKN A2G9MZ), which has been listed in the Prime Standard of the Frankfurt Stock Exchange since May 10, 2019, is publishing its figures for the first nine months of the 2018/2019 financial year today. The Group generated revenue of EUR 79.4 million in the period from 1 July 2018 to 31 March 2019, compared to EUR 74.5 million in the same period of the previous year. This equates to an increase of 6.6 per cent. Based on rising incoming orders, revenue grew by 5.9 per cent from an already high starting figure of EUR 27.1 million in the third quarter of 2017/2018 to EUR 28.7 million in the third quarter of 2018/2019. Earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for non-recurring costs, especially for the acquisition of ELVITEC, the switch to International Financial Reporting Standards and the change to Deutsche Börse's Prime Standard, were down slightly on the previous year's figure of EUR 7.7 million at EUR 7.1 million in the first nine months of the year.

Key figures (in EUR million) 1 Jul 2018 to 31 Mar 2019 (Q1 to Q3 2018/2019) 1 Jul 2017 to 31 Mar 2018 (Q1 to Q3 2017/2018) 1 Jan 2019 to 31 Mar 2019 (Q3 2018/2019) 1 Jan 2018 to 31 Mar 2018 (Q3 2017/2018)
Revenue 79.4 74.5 28.7 27.1
EBITDA* 7.1 7.7 3.1 2.9
EBIT* 6.0 6.7 2.7 2.6
EBT* 6.5 6.7 2.8 2.6
Incoming orders 86.7 81.3 28.8 28.4
 

*adjusted

In the reporting period, STEMMER IMAGING continued to successfully integrate the acquired company, ELVITEC S.A.S., and completed this integration successfully. The French subsidiary has been consolidated for the first time since the start of the second quarter of 2018/2019. The growth strategy is working. Positive influences in the form of synergy effects such as purchasing advantages are clearly reflected in the development of the third quarter. For example, adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to EUR 3.1 million from January to March 2019 compared to EUR 2.9 million in the same quarter of the previous year. Incoming orders in the third quarter of 2018/2019 amounted to EUR 28.8 million compared to EUR 28.4 million in the third quarter of the 2017/2018 financial year. As well as revenue, profit and incoming orders, the gross margin also increased to 37.4 per cent in the period from January 2019 to March 2019 after 36.7 per cent in the same quarter of the previous year.

"Our growth strategy is clearly working. After the short-term strain caused by the integration of our newest subsidiary, our earnings grew in the third quarter compared to the previous quarter and the corresponding quarter of the previous year, and our profitability improved considerably in terms of gross margin. With regard to the annual forecast, we are now better able to plan and are specifying our outlook," says Lars Böhrnsen, CFO of STEMMER IMAGING AG.

Due to the robust development of incoming orders, the successful integration of the subsidiary ELVITEC and the continued success of the expansion strategy, the Management Board is specifying the forecast for the current 2018/2019 financial year and expects a revenue volume of EUR 108 million to EUR 111 million and adjusted EBITDA of EUR 10.0 million to EUR 11.0 million.

STEMMER IMAGING AG's nine-month figures for 2018/2019 are available at https://www.stemmer-imaging.de/de/investor-relations/.

About STEMMER IMAGING
STEMMER IMAGING is one of Europe's leading machine vision technology providers for science and industry. With a perfect combination of innovative products, expert advice and comprehensive service, STEMMER IMAGING helps clients solve their machine vision tasks securely with speed and ease. Experienced specialists can be contacted easily and are available to provide advice locally in 19 European countries.

Clients of STEMMER IMAGING benefit from the combination of an exceptionally wide variety of products from the world's leading manufacturers (e.g. cameras, lenses, illumination products, machine vision systems, software). Expert know-how gathered over many years help customers define the optimum, most cost-effective combination of components. The company attaches particular importance to the provision of solution-oriented services, including feasibility studies, development services, training and customer-focused support.

Contact:

STEMMER IMAGING AG
Lena Vitzthum
Investor Relations
Gutenbergstr. 9-13
82178 Puchheim
Tel.: +49 89 80902165
ir@stemmer-imaging.de
www.stemmer-imaging.de



13.05.2019 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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