- Consolidated sales of EUR 146.7 million
- EBITDA (before IFRS 16) increased strongly by EUR 3.8 million to EUR 2.1 million
- Forecast for 2019 as a whole confirmed
- Working capital ratio declines by 2 percentage points to 10.6%
euromicron AG, a medium-sized technology group and specialist for the digital networking of business and production processes, published its preliminary figures for the first half of 2019 today.
Consolidated sales in the first six months of 2019 amounted to EUR 146.7 million (previous year: EUR 150.6 million) and EBITDA (before IFRS 16) to EUR 2.1 million (previous year: EUR -1.7 million). This equates to a significant increase of EUR 3.8 million on a comparable basis in the first half of 2019. The Group’s EBITDA margin (before IFRS 16) thus amounted to 1.4% (previous year -1.1%). In the second quarter, the Smart Buildings segment again made a significant contribution to the significant margin increase in the first half of the year as a whole. Consolidated net income (before IFRS 16) as of June 30, 2019, amounted to EUR -4.8 million and was EUR 2.9 million higher than in the same period of the previous year (EUR -6.9 million).
In the reporting period, euromicron generated operating cash flow (before IFRS 16) of EUR
-7.3 million, which improved by EUR 1.5 million compared to the same period last year (previous year: EUR -8.8 million). In addition, euromicron significantly reduced its working capital compared with June 30, 2018. Adjusted for factoring effects, working capital amounted to EUR 33.2 million as of June 30, 2019, and was thus well below the figure on the previous year’s reporting date (previous year: EUR 41.4 million). As a result, the working capital ratio (after factoring) improved to 10.6% (previous year: 12.6%).
The euromicron Group’s order backlog increased by EUR 18.2 million to EUR 157.9 million as of June 30, 2019 (previous year: EUR 139.7 million). All three operating segments reported higher order backlogs than in the prior-year period.
For 2019, the Executive Board continues to expect consolidated sales of between EUR 325 million and EUR 345 million and an EBITDA margin between 4.0% and 5.5%. The revenue development in the first half of 2019 was characterized in particular by a change in the seasonality of revenue in the Critical Infrastructures segment compared to the previous year. The company therefore expects this seasonal fluctuation to compensate for itself in the second half of 2019.
The full report on the first half of 2019 will be published on August 8, 2019, on the company’s website at www.euromicron.de in the “Investor Relations/Publications/Financial Reports” section.