Schaltbau Holding AG profits from organic growth in its core markets and the successful conclusion of its restructuring phase in 2019
DGAP-News: Schaltbau Holding AG / Key word(s): Preliminary Results
02.03.2020 / 08:00
The issuer is solely responsible for the content of this announcement.
Schaltbau Holding AG profits from organic growth in its core markets and the successful conclusion of its restructuring phase in 2019
– Preliminary Group adjusted revenue on like-for-like basis grows by 9.5% to EUR 495.9 million (forecast: EUR 480 to 500 million)
– Preliminary adjusted EBIT margin on like-for-like basis at 5.9% (2018: 4.7%) also at upper end of forecast range of 5 to 6%
– Outlook for full year 2020 currently subject to uncertainty due to COVID-19
Munich, 2 March 2020 – Today, the Executive Board of Schaltbau Holding AG [ISIN: DE000A2NBTL2] published its preliminary figures for the fiscal year 2019. Group revenue totalled EUR 511.4 million (2018: EUR 518.3 million). Excluding the divested businesses of Alte, the Sepsa Group and Pintsch Bubenzer, organic growth was particularly strong at 9.5% of preliminary adjusted Group revenue of EUR 495.9 million on a like-for-like basis (2018: EUR 452.9 million). According to preliminary figures, the adjusted EBIT margin on a like-for-like basis stood at 5.9% and was therefore at the upper end of the forecast range of 5 to 6%.
“Last year we completely fulfilled the high expectations,” said Dr Albrecht Köhler, CEO of Schaltbau Holding AG. “Despite the restructuring, we still succeeded in driving organic growth, reflecting both the Group’s outstanding market positioning and its underlying strength.”
According to preliminary, unaudited figures, each of the Group’s segments contributed to the EUR 43.1 million increase in adjusted revenue on a like-for-like basis, around half of which was attributable to the Bode Group in the Mobile Transportation Technology segment on the back of a dynamic performance in the European rolling stock sector and a variety of project start-ups in North America. Aside from the additional revenue generated from the sale of platform screen doors in the first quarter 2019, the growth contribution of Pintsch GmbH in the Stationary Transportation Technology segment resulted from unbroken international demand for axle counting systems. The Schaltbau GmbH Group, which represents the Components segment, saw its organic growth as partially based on the strong expansion of its business with contactors in the new energy sector and increased sales of its driver’s desk components.
According to preliminary, unaudited figures, 37.3% of revenue (2018: 36.3%) was generated with customers within Germany, while other European countries and the rest of the world accounted for 44.7% (2018: 46.6%) and 18% (2018: 17.1%) respectively.
Preliminary external revenue in the Mobile Transportation Technology segment grew by 8.9% to EUR 269.0 million (2018: EUR 247.0 million) on an adjusted like-for-like basis, primarily due to good contributions from Bode in Germany, RAWAG in Poland and Bode North America. The Germany-based Bode company managed to grow its revenue by 4.4% to EUR 193.7 million (2018: EUR 185.5 million), despite the considerable interruption in production caused by flood damage in May.
Adjusted for exceptional items, preliminary EBIT on a like-for-like basis in this segment improved to EUR 12.7 million (2018: EUR 4.6 million), due in particular to higher revenue, an improved project mix, various renegotiations of customer projects and savings made in the area of cost of materials. Based on these figures, the preliminary adjusted EBIT margin on a like-for-like basis came in at 4.7% (2018: 1.9%).
At EUR 72.5 million, preliminary revenue on a like-for-like basis for the Stationary Transportation Technology segment was up 19.0% year-on-year (2018: EUR 60.9 million). Apart from the additional revenue generated with platform screen doors, the main driver was high international demand for axle counting systems, which more than offset the impact of project delays for level crossing systems.
The preliminary EBIT on an adjusted like-for-like basis of EUR 4.2 million (2018: EUR -1.1 million) in this segment benefited from revenue arising on the sale of materials in conjunction with the PSD (platform screen doors) project in Brazil. Furthermore, in the first quarter 2019, follow-up orders were billed for two major projects for which the corresponding expenses had already been incurred in previous periods. The preliminary EBIT margin on an adjusted like-for-like basis was 5.8% (2018: -1.8%).
Preliminary revenue in the Components segment grew organically by 6.3% year-on-year to total EUR 154.4 million (2018: EUR 145.2 million),
At EUR 27.7 million, the preliminary EBIT adjusted for exceptional items for the segment was 10.4% up on the previous year (2018: EUR 25.1 million), corresponding to an adjusted EBIT margin of 17.9% (2018: 17.3%). The adjustment relates primarily to structural measures designed to secure future growth in new target markets.
“Following last year’s measures, some of which were far-reaching, we can now concentrate fully on the forthcoming growth phase,” added Thomas Dippold, CFO of Schaltbau Holding AG. “We are also currently affected by the increasing level of uncertainty regarding the impact of the COVID-19 epidemic on the economic environment as well as on specific supply chains and business sectors. However, we currently expect the situation to return to normal in the second quarter.”
The complete, audited consolidated financial statements are expected to be published with the Company’s Annual Report on 31 March 2020 and will be available to download from the company’s website at: https://schaltbaugroup.com/.
About the Schaltbau Group
Schaltbau Holding AG (ISIN: DE000A2NBTL2) is listed in the Prime Standard segment of the regulated market of Deutsche Börse AG in Frankfurt am Main. With annual Group revenue in the region of EUR 500 million and around 3,000 employees, Schaltbau is an internationally leading supplier of systems and components in the field of transportation technology and the capital goods industry. With Schaltbau, Bode, Pintsch and SBRS as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific technological solutions for rolling stock, rail infrastructure, road vehicles and commercial vehicles. As one of the few specialists for intelligent DC energy concepts, the Schaltbau Group is also a driver of innovation for the fast-growing markets of tomorrow such as new mobility, new energy and new industry. To find out more about the Schaltbau Group, go to: https://schaltbaugroup.com/de/
Contact
Dr Kai Holtmann
Head of Investor Relations & Corporate Communications
Schaltbau Holding AG
Hollerithstraße 5
81829 Munich
Germany
T +49 89 93005-209
investor@schaltbau.de
www.schaltbaugroup.de
02.03.2020 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.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Back to news
For further information, please
don’t hesitate to contact us.
Schaltbau Holding AG
Hollerithstrasse 5
81829 Munich
Germany
P +49 89 93005-209
Send e-mail