- Consolidated sales increase by around 10% to €153.6 million
- Positive operating EBITDA of €0.6 million
- New orders €18.0 million up on the previous year
- Working capital ratio reduced sharply by 7.6 percentage points to 14.7%
- Guidance for the whole of 2017 confirmed
euromicron AG, a medium-sized technology group and specialist for the Internet of Things (IoT), is today publishing its report on the first half of 2017.
Sales in the first half of 2017 were €153.6 million, a year-on-year increase of around 10% (previous year: €139.8 million). Operating EBITDA was also positive at €0.6 million, an improvement of €2.3 million over the first half of 2016 (€ –1.7 million). The consolidated net loss for the period at June 30, 2017, was € –5.4 million and so was reduced by €3.6 million compared to the figure at June 30, 2016 (€ –9.0 million).
Bettina Meyer, Spokeswoman of the Executive Board, comments: “The measures initiated to restructure the euromicron Group also had positive effects in the second quarter. In particular, we succeeded in optimizing processes at the group further and leveraging efficiencies. We were thus able to improve all the key figures compared to the first half of 2016.”
Jürgen Hansjosten from euromicron AG’s Executive Board adds: “The current market environment offers attractive growth opportunities for the euromicron Group. That’s also reflected in our pleasing trend for new orders: They were grown by €18.0 million in the first half of 2017 and also increasingly include new orders from digitization projects. Order books at June 30, 2017, were €134.4 million, €17.0 million up on the previous year’s figure. We also aim to benefit from the dynamic development of the IoT market moving ahead.”
In addition, the group-wide program to optimize working capital continues to bear fruit. The working capital ratio was reduced sharply by 7.6 percentage points to 14.7% compared to 22.3% at June 30, 2016. After adjustment for the effects of factoring, working capital at June 30, 2017, was €74.2 million and so €–16.8 million below the figure at June 30, 2016.
The cash flow from operating activities (after adjustment for the effects of factoring) improved sharply by €9.7 million to € –11.1 million in the first half of 2017.
The euromicron Group’s net debt was able to be reduced overall by €5.6 million to €98.6 million compared to the level at June 30, 2016 (€104.2 million).
With regard to the group’s further business performance, Bettina Meyer states: “We’ll continue working in the second half of the year to gear our business model rigorously to the future market of the Internet of Things. As things stand at present, however, we’re sticking to our guidance for the current fiscal year. We therefore expect a sales volume for the whole of the 2017 in a range from €330.0 million to €350.0 million and an operating EBITDA margin between 4.0% and 5.0%.”
The full report for the first half of 2017 is available as of today on the company’s website at euromicron.de in the section “Investor Relations/Publications/Financial Reports”.
euromicron AG (www.euromicron.de) unites medium-sized high-tech companies from the fields of Digital Buildings, Smart Industry and Critical Infrastructures. As a German specialist for the Internet of Things, euromicron enables its customers to network business and production processes and successfully move to a digital future. From design and implementation, operation, to related services – euromicron implements customized solutions and creates the IT, network and security infrastructures required for them. As a result, euromicron lets its customers migrate existing infrastructures gradually to the digital age. euromicron’s expertise helps the company’s customers increase their agility and efficiency, as well as develop new business models that lay the foundation for commercial success down the road.
The technology group is headquartered in Frankfurt/Main, has been listed on the stock exchange since 1998 and employs around 1,800 people at 32 locations. The euromicron Group comprises a total of 17 subsidiaries, including the brand names Elabo, LWL-Sachsenkabel, MICROSENS and telent. euromicron AG generated total sales of €325.3 million in fiscal year 2016.