Ringmetall shows growth again in both business divisions in third quarter

DGAP-News: Ringmetall Aktiengesellschaft / Key word(s): 9-month figures

12.12.2016 / 12:28
The issuer is solely responsible for the content of this announcement.


Ringmetall shows growth again in both business divisions in third quarter

- Consolidated sales increase by 41.6 percent to EUR 72.3 million

- EBITDA rises almost twice as strong by 79.2 percent to EUR 9.3 million

- Industrial Handling division back on growth track in third quarter

Munich, 12 December 2016 - Ringmetall AG (ISIN: DE0006001902), an internationally leading specialist in the packaging industry, continued to grow in sales and earnings in the first nine months of the fiscal year. Besides the Industrial Packaging division, the Industrial Handling unit as well contributed to the growth in the third quarter.

Consolidates sales of Ringmetall Group rose by 41.6 percent to EUR 72.3 million (9M 2015: EUR 51.0 million). The gross margin remained near-constantly at 51.0 percent (9M 2015: 50.9 percent). Earnings before interest, taxes, depreciation and amortization (EBITDA) increased disproportionately by 79.2 percent to EUR 9.3 million (9M 2015: EUR 5.2 million), while earnings before interest and taxes (EBIT) more than doubled, growing 151.0 percent to EUR 5.5 million (9M 2015: EUR 2.2 million).

At an international level, US-subsidiary Self Industries, which was integrated into the group by the end of last year, continued to develop successfully as planned. Furthermore optimizations of production processes conducted in individual markets in Europe and Asia led to a sustainably strengthened clout of the particular units. "We were able to effectively conclude some optimization programs in the past quarter", explained Christoph Petri, spokesperson of the management board of the Ringmetall Group. "Especially at our country subsidiaries in Turkey in China we worked through our to-do list step by step, which now results in improved earnings".

The key business performance indicators in the first nine months of fiscal year 2016 are shown below:

EUR (thousands) 9M 2016 9M 2015 Change
Sales revenues 72,264 51,044 41.6%
Gross profit 36,845 25,971 41.9%
EDITDA 9,342 5,214 79.2%
EBITDA margin 12.9% 10.2%  
EBIT 5,510 2,195 151.0%

In the Industrial Packaging division, sales in the first nine months increased by 55.1 percent to EUR 60.1 million (9M 2015: EUR 38.7 million) after the integration of Self Industries. EBITDA of the division grew by 77.8 percent to EUR 9.7 million in the same time (9M 2015: EUR 5.5 million).

After several quarters of sales declines, the Industrial Handling division showed growth again in sales as well as in earnings in the third quarter. Although sales in the first nine months were still 1.2 percent below previous year at EUR 12.2 million (9M 2015: EUR 12.3 milliion), EBITDA rose again more significantly by 13.2 percent to EUR 0.7 million (9M 2015: EUR 0.6 million) after cost optimizations realized in the second quarter.

Against the background of the prevailing positive business development of Ringmetall Group, Management Board adheres to the guidance published for the full year 2016. First preliminary results on the business development in 2016 as well as an outlook on the expected development for 2017 shall be published by mid March 2017.

Further information on Ringmetall Group and its subsidiaries is available at www.ringmetall.de.

Contact:

Ingo Middelmenne
Investor Relations
Ringmetall AG
Phone: +49 (0)89 45 220 98 12
Email: middelmenne@ringmetall.de

About Ringmetall Group

Ringmetall is an internationally leading specialist in the packaging industry. The Industrial Packaging business segment offers highly secure gasket and locking systems for the chemical, the petrochemical and the pharmaceutical industry as well as the food industry. The Industrial Handling business segment develops application-optimized vehicle accessory parts for the handling and transport of packaging units. Besides its headquarters in Munich, Ringmetall has worldwide production and sales subsidiaries in Germany, Great Britain, Spain, Italy, Turkey, the Netherlands, as well as in China and the USA. On a global scale, Ringmetall generates revenues of more than EUR 90 million per year.




Contact:
Ingo Middelmenne
Head of Investor Relations
Ringmetall AG
+49 89 45 22 098 - 12
middelmenne@ringmetall.de


12.12.2016 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.

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