- Final numbers for the first nine months match previously published figures
- Development of consolidated sales due to order postponements behind plan
- EBITDA (before IFRS 16) of €2.0 million and so slightly up year over year
- Capital increase completed successfully in the third quarter of 2019
- Guidance for the whole of 2019 adjusted
euromicron AG, a medium-sized technology group and specialist for supporting digital business processes through secure infrastructures, is today publishing its final figures for the first nine months of 2019.
In the first nine months of 2019, euromicron generated consolidated sales of €221.9 million, a decline of € –11.1 million over the previous year (€233.0 million). Despite the lower sales, EBITDA (before IFRS 16) increased by €0.4 million to €2.0 million (previous year: €1.6 million). The EBITDA margin (before IFRS 16) was 0.9% (previous year: 0.7%). Consolidated earnings (before IFRS 16) at September 30, 2019, totaled € –7.7 million (previous year: € –7.8 million).
Bettina Meyer, Spokeswoman of the Executive Board, comments: “All in all, we remained below our expectations in the first nine months of 2019. Order postponements at several operating companies weigh on our business and are not able to be offset by the positive performance of other companies. Nevertheless, we worked rigorously on important strategic issues. For instance, we were able to win an anchor investor and complete a capital increase successfully in the third quarter.”
In the period under review, euromicron posted a cash flow from operating activities (before IFRS 16) of € –16.2 million (previous year: € –10.7 million). That was mainly attributable to cash flow effects from working capital (before factoring). Working capital (after factoring) at September 30, 2019, was €40.1 million (previous year: €43.4 million), meaning the working capital ratio (after factoring) improved slightly to 13.1% (previous year: 13.5%).
New orders at September 30, 2019, declined to €227.6 million (previous year: €243.4 million). That is due to a more selective policy for choosing projects in construction-related business in the “Smart Buildings” segment, as well as lower new orders at that segment’s technology companies. Order books at September 30, 2019, were €154.8 million, a sharp rise of €13.8 million over the previous year’s figure (€140.9 million).
Dr. Frank Schmitt, Chief Technical Officer of euromicron AG, explains: “We were able to win contracts for further strategic projects. For example, we are helping modernize the campus at the University of Kiel, where we’re responsible for installing the extensive data and security technology. With our smart solutions, we make buildings safer and more secure, energy-efficient and cost-effective.”
In view of the business performance in the first nine months, the Executive Board of euromicron AG now expects consolidated sales in the range from €310 million to €325 million and an EBITDA margin (before IFRS 16) of between 2.0% and 4.5% for fiscal 2019.
The full report for the third quarter of 2019 is available as of today on the company’s website at https://www.euromicron.de/en/financial-reports.
About euromicron AG
euromicron AG (www.euromicron.de) is a medium-sized technology group that unites 16 companies from the fields of Smart Buildings, Smart Industry, Critical Infrastructures and Smart Services. Rooted in Germany, euromicron operates internationally with its around 1,900 employees at 40 locations. Backed by its expertise in sensor systems, terminal devices, infrastructures, platforms, software and services, euromicron is able to offer its customers end-to-end solutions from a single source. As a result, euromicron helps small and medium-sized enterprises, large companies and public-sector organizations enhance their agility and efficiency, prevent security risks and develop new business models. As a German specialist for the Internet of Things (IoT), euromicron enables its customers to network business and production processes and successfully achieve digitization. euromicron AG generated total sales of €318.0 million in fiscal year 2018.