- Consolidated sales and operating EBITDA within the forecast range
- Positive cash flow from operating activities of €3.3 million, an improvement of €4.9 million
- Perceptible reduction in the working capital ratio by 3.9 percentage points to 9.0 %
- Special costs with an impact on EBITDA total €4.6 million and so are within the announced range
- Publication of the financial statements postponed to April 11, 2019
euromicron AG is today publishing provisional figures for the 2018 fiscal year. Consolidated sales were €318.0 million (previous year: €332.9 million) and operating EBITDA was €6.5 million (previous year: €13.5 million). The operating EBITDA margin was thus 2.0% (previous year: 4.1%). Sales and the operating EBITDA margin were within the forecast ranges of €310 million to €330 million and 2.0% to 4.0% respectively. In the 2018 financial year, special costs with an impact on EBITDA totaled €4.6 million, which also corresponded to the forecast (up to €5 million).
Despite non-recurring burdens on earnings, the euromicron Group generated a positive cash flow from operating activities of €3.3 million in fiscal 2018, an increase of €4.9 million over the previous year (€ –1.6 million). The cash flow from operating activities after adjustment for factoring effects improved even more sharply by €7.1 million to €7.5 million (previous year: €0.4 million). That is mainly attributable to the lower amount of working capital.
Reducing tied-up capital is the focus of euromicron’s cash-oriented corporate governance. All in all, the Group reduced working capital after factoring significantly by € –14.3 from €43.0 million to €28.7 million. As a result, euromicron’s working capital ratio improved by 3.9 percentage points from 12.9% to 9.0% and so exceeded the forecast figure of around 10%.
The euromicron Group’s equity ratio at December 31, 2018, was 27.2% (previous year: 31.1%).
euromicron will repay the €2.5 million credit line scheduled for repayment at the end of March 2019 as planned.
The Group’s order books at December 31, 2018, were €148.6 million and so €22.1 million higher than at the reporting date of the previous year (€126.5 million). All three operating segments posted higher order books than the year before.
After implementation of the necessary personnel and structural measures in the “Smart Buildings” segment as planned in the fourth quarter of 2018, considerable additional organizational activities and time have been needed for preparing the financial statements of the euromicron Group since the beginning of 2019. In view of that, euromicron AG will only present its financial statements for fiscal 2018, including the forecast for 2019, on April 11, 2019. As planned, to coincide with publication of the final figures, an Accounts Press Conference and Analysts’ Conference will be held in Frankfurt/Main the same day. The originally envisaged date for presenting the 2018 annual financial statements on March 29, 2019 is no longer applicable.
All the dates for interim financial reporting specified in the financial calendar (May 9, August 8, and November 7, 2019) and for the company’s Annual General Meeting (July 3, 2019, in Frankfurt/Main) will be adhered to as planned.