- Consolidated sales of €75.5 million, €10.3 up year on year
- Operating EBITDA improves by €1.1 million
- New orders around €10.0 million higher than last year
- Order books some €22.0 million up on the previous year
- Working capital ratio reduced by 8.0 percentage points
- Cash flow from operating activities increased by €13.3 million
euromicron AG, a medium-sized high-tech group and specialist for the “Internet of Things” (IoT), is today publishing its report on the first quarter of 2017.
Sales in the first quarter of 2017 were €75.5 million, a sharp rise of €10.3 million over the level in the same quarter of the previous year (€65.2 million). Before the non-recurring special effects of the reorganization (€ –0.9 million), the operating EBITDA was slightly in the black at €0.1 million, an improvement of €1.1 million. The consolidated net loss for the first quarter of 2017 was € -2.7 million (previous year: loss of € -4.4 million), an improvement of €1.7 million that was sharper compared to that for operating EBITDA.
Bettina Meyer, Spokeswoman of the Executive Board, sums up: “Now that the tough years of reorganization are largely behind us, the figures in the first quarter of 2017 – the year of transformation – indicate pleasing trends. Due to the cyclical nature of our business, where we generate the bulk of our earnings in the fourth quarter, business in the first quarter traditionally tends to be slow. Nevertheless, we were able to improve all key figures compared to the first quarter of the previous year.”
“New orders at the Group’s continuing operations developed pleasingly in the first quarter of 2017: They were grown by around €10.0 million to €94.6 million and also increasingly include new orders from digitization projects. Order books at March 31, 2017, were €142.0 million, well up on the previous year’s figure of around €22.0 million. That’s a good springboard for fiscal 2017,” adds Jürgen Hansjosten from euromicron’s Executive Board.
The acquisition of KORAMIS GmbH in January 2017 means the group has also expanded its value chain to include cybersecurity for critical infrastructures and industrial infrastructures and has continued its digitization strategy uncompromisingly.
As part of the system of cash-oriented corporate controlling, the group-wide program to optimize working capital reaped further successes. The working capital ratio was 15.1%, 8 percentage points below the comparative figure at March 31, 2016 (23.1%). The cash flow from operating activities (after adjustment for the effects of factoring) improved sharply by €13.3 million to € –1.3 million in the first quarter of 2017. The euromicron Group’s net debt was able to be reduced by a total of €9.2 million compared to the level at March 31, 2016.
“That means all the measures we’ve initiated to restructure the euromicron Group are having positive effects, even though further efforts are required until the transformation phase is completed at the end of 2018,” concludes Bettina Meyer.
The full report on the first quarter of 2017 is available as of today on the company’s website at www.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.