DGAP-News: Ringmetall publishes Annual Report 2019 and looks confidently to 2020EQS
Im Artikel erwähnte Wertpapiere: Ringmetall I
DGAP-News: Ringmetall Aktiengesellschaft
/ Key word(s): Annual Results
Ringmetall publishes Annual Report 2019 and looks confidently to 2020
Munich, 30 April 2020 - Ringmetall AG (ISIN: DE0006001902), a leading international specialist supplier in the packaging industry, today published its audited annual report for 2019. The business figures essentially correspond to the preliminary figures published in early March.
Accordingly, Group revenues rose by 9.1 percent to EUR 120.6 million (2018: EUR 110.6 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) were down 3.9 percent year-on-year to EUR 10.0 million (2018: EUR 10.4 million) due to the volatile business performance in the first half of the year and the resulting increase in personnel expenses. Compared with the full-year outlook, consolidated revenue and EBITDA are thus in the middle of the published ranges of EUR 115.0 to 125.0 million and EUR 8.5 to 11.0 million respectively.
If the effects of steel price development, inorganic and organic growth are considered separately, the following effects on segment revenues were seen in 2019:
The key figures for the 2019 financial year are as follows:
* Gross profit defined as: revenues including changes in inventories less expenses for raw materials, consumables and supplies as well as purchased services; Expenses for temporary workers are shown in personnel expenses both in 2019 and retrospectively for 2018
** The first-time application of IFRS 16 resulted in an effect of EUR 1.7 million
In the Industrial Packaging segment, the business development of the individual divisions was significantly influenced by the acquisitions of Nittel on 1 January 2019 and Tesseraux on 1 July 2019. The integration of both companies into the Group has now been completed. In the Industrial Handling segment, the postponement of a new product generation of industrial trucks by a customer caused a significant drop in sales. In detail, the segment development was as follows:
Business development in the current year 2020 can so far be described as consistently good, despite the significantly strained business environment against the backdrop of COVID-19. Almost all of the Group's production sites have now been classified as system-relevant operations by the responsible authorities and continued to produce accordingly throughout. The new product area of inliners since 2019 and the good international sales mix have a noticeable levelling effect on short-term regional fluctuations in demand, so that the economic sensitivity of the Ringmetall Group as a whole appears to have been sustainably reduced. "In the meantime, short-term ups and downs in the business development of our affiliated subsidiaries and regional offices balance each other out well and we are navigating quite stably through these challenging times for all of us", explains Christoph Petri, Spokesman of the Management Board of Ringmetall AG. "Nevertheless, we have prepared ourselves comprehensively for a possible further deterioration of the economic environment by subjecting individual divisions to stress tests and taking measures or making preparations according to these results".
Against the background of the currently restricted freedom of assembly and the pandemic legislation, the company has decided to postpone its Annual General Meeting, originally scheduled for 15 June 2020, to 28 August 2020. According to current planning, the meeting will take place as a so-called virtual Annual General Meeting without the physical presence of shareholders or their proxies and will be broadcast on the Internet. The company has not yet published a dividend proposal. However, it is planned to continue the dividend policy of the past years in the future.
For fiscal year 2020, the Management Board of Ringmetall AG continues to expect Group revenues of EUR 125 to 135 million and earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 11 to 13 million. However, the effects of a further spread of COVID-19 on the global economy and especially the further business development of Ringmetall do not appear to be assessable in any way to the Management Board. Such scenarios are therefore not included in the outlook for business development in 2020.
Against the background of the imminent publication of the business figures for the first quarter of 2020, the next telephone conference of the company will take place next week, on 7 May 2020. The full 2019 annual report is available for download on the company's website at http://ringmetall.de/en/investor-relations/financial-reports/. The Investor Relations department is available at any time to provide further information.
Additional information on the Ringmetall Group and its affiliated subsidiaries can be found at www.ringmetall.de.
About Ringmetall Group
Ringmetall is a leading international specialist in the packaging industry. The Industrial Packaging business offers highly secure closures and inliners for industrial drums for the chemical, petrochemical, pharmaceutical and food processing industries. The Industrial Handling business unit develops application-optimized vehicle components for the handling and transport of packaging units. In addition to the Group headquarters in Munich, Ringmetall has worldwide production and sales offices in Germany, France, Great Britain, Spain, Italy, Turkey, the Netherlands, China and the USA. Worldwide Ringmetall generates more than EUR 120 million in revenues.
30.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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