R. STAHL successfully mitigates softer market and profitability situation driven by COVID-19 pandemic in Q2 2020 through cost reduction measures
DGAP-News: R. Stahl AG
/ Key word(s): Half Year Results/Preliminary Results
R. STAHL successfully mitigates softer market and profitability situation driven by COVID-19 pandemic in Q2 2020 through cost reduction measures - Based on preliminary figures, sales in Q2 2020 decline noticeably by €5.8 million or 8.8% year-on-year to €59.7 million as a result of weaker day-to-day business and delayed shipments - Cost reduction measures dampen impact on profitability: EBITDA pre exceptionals declines by €1.5 million to €3.9 million - Demand slightly increases by end of quarter, order backlog of €79.7 million at continued high level - Outlook corridor for 2020 narrowed: sales still expected to decline by 5% year-on-year at most now to a range between €260 million and €265 million, EBITDA pre unchanged to come in at low double-digit million Euro Waldenburg, 28 July 2020 - R. STAHL, leading supplier of products and systems for explosion protection, today publishes preliminary figures for Q2 2020. As a result of softer key markets that were affected by the worldwide spread of the COVID-19 pandemic, sales declined as expected noticeably by 8.8% year-on-year to €59.7 million (Q2 2019: €65.5 million). Consequently, earnings before interest, taxes, depreciation and amortization (EBITDA) pre exceptionals dropped, though dampened by early measures to control costs, particularly personnel costs. In sum, lower sales of €5.8 million resulted in a decrease of EBITDA pre by €1.5 million to €3.9 million (Q2 2019: €5.4 million). Like in the previous quarter already, exceptionals saw a significant decline, totaling €-0.3 million (Q2 2019: €-1.2 million). With €-0.31, earnings per share were below last year (Q2 2019: €-0.12). Based on the currently foreseeable estimation of R. STAHL's most important key markets, the Executive Board specifies the outlook for 2020. Sales are still expected to decline by 5% year-on-year at most. The previous sales corridor of €260 million to €275 million is narrowed to a range between €260 million and €265 million. The outlook for EBITDA pre remains unchanged at low double-digit million Euro. The statements on the Q2 2020 figures and trends included in this press release are preliminary. R. STAHL will release the full H1 2020 interim report on 6 August 2020.
1) Preliminary figures; the final and full set of figures for Q2 2020 will be released on 6 August 2020. 2) Exceptionals: restructuring charges, non-scheduled depreciation and amortization, charges for designing and implementing IT projects, M&A costs as well as profit and loss from the disposal of assets no longer required for business operations. 3) Without apprentices Percentages and figures may include rounding differences. The signs used to indicate rates of change are based on economic aspects: improvements are indicated by a plus "+" sign, deteriorations by a "-" sign. Rates of change >+100% are shown as >+100%, rates of change <-100% as "n/a" (not applicable).
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Financial calendar 2020
Forward-looking statements
Contact: R. STAHL AG Dr. Thomas Kornek Senior Vice President Investor Relations & Corporate Communications Am Bahnhof 30 74638 Waldenburg (Württ.) Germany Tel. +49 7942 943-1395 investornews@r-stahl.com
28.07.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | R. Stahl AG |
Am Bahnhof 30 | |
74638 Waldenburg | |
Germany | |
Phone: | +49 (7942) 943-0 |
Fax: | +49 (7942) 943-4333 |
E-mail: | investornews@stahl.de |
Internet: | www.r-stahl.com |
ISIN: | DE000A1PHBB5 |
WKN: | A1PHBB |
Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
EQS News ID: | 1103363 |
End of News | DGAP News Service |
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1103363 28.07.2020