STEMMER IMAGING publishes 2017/2018 Annual Report: Record revenue and earnings figures
Puchheim, 24 October 2018 - STEMMER IMAGING AG generated record-breaking figures again in the past 2017/2018 financial year. Revenue climbed by 14.0 per cent to EUR 100.63 million (previous year: EUR 88.30 million), exceeding the EUR 100 million mark for the first time in the company's history. Adjusted operating earnings (adjusted EBITDA) increased by 46.5 per cent from EUR 7.58 million to EUR 11.11 million.
Having announced provisional figures for the financial year on 22 August 2018, STEMMER IMAGING AG (ISIN DE000A2G9MZ9/GSIN A2G9MZ) is today publishing the final business figures in its 2017/2018 Annual Report. On the basis of persistently high product demand, the machine vision specialist generated a revenue increase of 14.0 per cent to EUR 100.63 million in the period from 1 July 2017 to 30 June 2018 (previous year: EUR 88.30 million). Operating earnings adjusted primarily for costs of the IPO of EUR 4.72 million (adjusted EBITDA) improved by a considerable 46.5 per cent from EUR 7.58 million to EUR 11.11 million. The adjusted EBITDA margin therefore comes to 11.0 per cent (previous year: 8.6 per cent). Adjusted consolidated earnings before interest and taxes (adjusted EBIT) were EUR 8.87 million, considerably higher than the previous year's figure of EUR 5.81 million. Including income tax expenses of EUR 1.25 million, consolidated net income totalled EUR 7.66 million (previous year: EUR 4.37 million).
|Key figures (in EUR million) ||1 Jul 2017 to 30 Jun 2018 ||1 Jul 2016 to 30 Jun 2017 |
|Revenue ||100.63 ||88.30 |
|Adjusted EBITDA ||11.11 ||7.58 |
|Adjusted EBITDA margin ||11.0% ||8.6% |
|Adjusted EBIT ||8.87 ||5.81 |
|Adjusted EBIT margin ||8.8% ||6.6% |
|Equity ratio ||82.5% ||50.9% |
|Cash and cash equivalents ||51.76 ||5.51 |
The robust corporate growth on the whole was chiefly driven by persistently high demand for machine vision solutions and automation components. The development is reflected in particular in the further rise in incoming orders, which increased by 15.6 per cent to EUR 106.93 million in the 2017/2018 financial year (previous year: EUR 92.50 million). The machine vision software Common Vision Blox, developed by STEMMER IMAGING itself, is especially enjoying rising demand. The company also grew inorganically. Data Vision (machine vision), which was acquired in the third quarter of 2017/2018 and consolidated from February 2018, is being integrated successfully. The Dutch company has already contributed around EUR 1.7 million to revenue and EUR 0.14 million to EBITDA.
For STEMMER IMAGING AG, the 2017/2018 financial year was primarily shaped by the successful IPO at the end of February 2018, from which the Group generated gross issue proceeds of EUR 51.0 million. A portion of the funds raised has already been profitably invested beyond the reporting period. This includes the acquisition of the French distributor ELVITEC S.A.S. in July 2018 and the investment in the software provider Perception Park in October 2018. Perception Park is an innovative provider of hyperspectral imaging software. The investment significantly strengthened and expanded the software segment. STEMMER IMAGING AG has cash and cash equivalents of EUR 51.76 million. The company is therefore able to act flexibly if opportunities arise with regard to potential acquisition targets. The cooperation agreed with the Chinese Nanjing Inovance Industrial Vision Technology in August 2018 is an important strategic success on the path to international expansion. By cooperating closely with the subsidiary of Shenzhen Inovance Technology Co., Ltd., STEMMER IMAGING is expanding into the dynamically growing automation market in China.
"The 2017/2018 financial year will go down forever in STEMMER IMAGING AG's history. Starting with our IPO and followed by international expansion, our performance to date has now resulted in a new record year and revenue in excess of EUR 100 million. We are proud of this team success and intend to ensure that this performance continues. We are convinced that we will reach our targets with our innovative products and our more than 30 years of experience in the machine vision market," says Lars Böhrnsen, CFO of STEMMER IMAGING AG.
Based on the growth rates exhibited by the market so far, the desire of many customers for a steadily rising level of automation and the new release of our self-developed Common Vision Blox software, STEMMER IMAGING AG is optimistic about the 2018/2019 financial year. The Management Board expects increased revenue growth compared to the previous year, a slightly higher gross margin and a slight rise in the EBITDA margin.
The 2017/2018 Annual Report can be downloaded from www.stemmer-imaging.de under 'Investors'.
STEMMER IMAGING AG will offer a telephone conference for interested investors and representatives of the press today, 24 October 2018, at 4 pm. To register, please e-mail email@example.com.
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.
STEMMER IMAGING AG
82178 Puchheim, Germany
Tel.: +49 89 80902165
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