Wittur Group: financial results first six months 2019
Wittur Holding GmbH, XS1188024548
Wittur Group publishes the first half year results for 2019
- Topline largely at previous year's level, sales declined by 0.1% to EUR 396.5 million
- Sales increased by 1.5% at constant currency
- Adjusted Group EBITDA of EUR 57.4 million was 4.3% down on the previous year, with a stronger second quarter compared to prior year
- Net cash flow before financing activities was EUR 21.3 million
- The Group's net financial debt amounted to EUR 704.6 million, which corresponds to a leverage ratio of 5.87x
Wiedenzhausen, August 14, 2019 - The Wittur Group (ISIN: XS1188024548, XS1188025438) generated consolidated sales of EUR 396.5 million in the first half year of 2019 which was almost at previous year's level (6M 2018: EUR 396.9 million). At constant exchange rates, sales increased by 1.5% compared to the previous year.
European business generated sales of EUR 211.7 million, or 53.4% ??of Group sales. This represented an increase in sales of 0.1% compared to the previous year (6M 2018: EUR 211.5 million) and a currency-adjusted increase of 0.5%. Despite headwinds from the cyber security incident at the beginning of the year, the European business achieved moderate growth.
The Asian business grew slightly by 0.5% compared to the previous year, which corresponds to sales of EUR 153.5 million and a revenue share of 38.7%. At constant exchange rates, sales remained at previous year's level. Particularly India and Australia showed a very positive development.
The Rest of World region showed a decline in sales of 4.3% to EUR 31.2 million based on current exchange rates. The region grew by 15.5% at constant currency. Particularly foreign exchange rate fluctuation in Argentinian Pesos and Turkish Lira caused the negative impact.
Earnings before interest, taxes, depreciation and amortization before exceptional items (EBITDA Adjusted) of the Wittur Group was EUR 57.4 million, 4.3% below the same period of previous year (6M 2018: EUR 60.0 million), with second quarter significantly better than first quarter and slightly over prior year. The EBITDA-adjusted margin was 14.5%.
Net cash flow before financing activities of the Wittur Group amounted to EUR 21.3 million in the first half year of 2019.
Group's net financial debt amounted to 704.6 million which corresponds to a leverage ratio of 5.87x.
The financial results for the first half year of 2019 of Wittur International Holding are published. A conference call for investors and analysts will take place on August 14, 2019 at 2 p.m. CEST.
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About Wittur Founded in 1968, Wittur is one of the world's leading independent elevator components manufacturers with an extensive global manufacturing footprint and sales network and a broad range of products. Its product offering features a large range of components for new elevator manufacturing and sourcing, for spare parts and for modernization and upgrades. Components made by Wittur span from sophisticated mechatronic components for elevator cabins and landing doors (including the associated opening mechanisms) to other critical components such as gearless drives, slings, safety gears and cars. The Wittur Group has a workforce of around 4,700 employees and conducts business in more than 50 countries. It is majority owned by funds managed by Bain Capital Private Equity.
For more information on the company, please visit www.wittur.com.
Investor Relations Contact Roman Istanbuli Wittur Holding GmbH Rohrbachstraße 26-30 85259 Wiedenzhausen | Germany Phone: +49(81 34) 18 - 136 Mail: firstname.lastname@example.org
Additional features:Document: http://n.eqs.com/c/fncls.ssp?u=UQPQNHQJDUDocument title: Wittur 6M 2019 Bond Report
14.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Wittur Holding GmbH Rohrbachstraße 26-30 80259 Wiedenzhausen
Germany Phone: +49 (0)8134 18 - 0 Fax: +49 (0)8134 18 - 49 E-mail: email@example.com Internet: www.wittur.com ISIN: XS1188024548 WKN: A14J5R Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Stuttgart EQS News ID: 857295 End of News DGAP News Service