Ringmetall Aktiengesellschaft: Consolidated Financial Statements 2017 without material deviations from preliminary figures

DGAP-News: Ringmetall Aktiengesellschaft / Key word(s): Final Results

07.05.2018 / 14:04
The issuer is solely responsible for the content of this announcement.


Consolidated Financial Statements 2017 without material deviations from preliminary figures

- Group sales increase by 8.5 percent to EUR 102.4 million
- EBITDA increases by 7.1 percent to EUR 12.0 million
- EBIT increases by 7.5 percent to EUR 10.0 million


Munich, 7 May 2018 - Ringmetall AG (ISIN: DE0006001902), a leading international specialist supplier in the packaging industry, today published the audited 2017 consolidated financial statements. The accounting was based on the International Financial Reporting Standards (IFRS) for the first time.

Consolidated sales increased by 8.5 percent to EUR 102.4 million (2016: EUR 94.3 million). At EUR 12.0 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were 7.1 percent higher than in the previous year (2016: EUR 11.2 million). This includes one-off costs incurred in the fourth quarter, in particular in connection with the first-time preparation of the consolidated financial statements in accordance with IFRS. The minor deviation in EBITDA in 2017 as well as in 2016 compared to the published provisional figures is related to the treatment of other taxes, which according to IFRS are reported under operating expenses. Earnings before interest and taxes (EBIT) rose by 7.5 percent to EUR 10.0 million (2016: EUR 9.3 million).

"With the audited consolidated financial statements for 2017, Ringmetall will publish its financial statements in accordance with IFRS from now on," explains Christoph Petri, Spokesman of the Management Board of Ringmetall AG. "With this step, we want to further professionalize our capital market communication and make our share increasingly attractive for international investors with the intended change to the General Standard." After approval of the prospectus filed with the German Federal Financial Supervisory Authority (BaFin) on April 30, 2018, Ringmetall intends to approve all of the company's shares in July 2018 for trading on the Regulated Market of the Frankfurt Stock Exchange.


The key figures from the audited annual financial statements for 2017 are as follows:

IFRS (EUR thousands) 2017 2016 Deviation
Sales revenues 102.3 94.3 8.5 %
Gross profit 45.3 41.3 9.7 %
Gross profit margin 44.3 % 43.8 %  
EBITDA 12.0 11.2 7.1 %
EBITDA margin 11.7 % 11.9 %  
EBIT 10.0 9.3 7.5 %
EBIT margin 9.8 % 9.9 %  
       


For the full year 2018, the Management Board of Ringmetall AG expects the growth trend to continue. On a purely organic basis, therefore, Group sales are expected to grow to EUR 107.0 to 112.0 million. EBITDA is expected to increase slightly year-on-year. This includes special expenses that are expected in connection with the targeted change of the stock market segment and the related issue of securities prospectuses.

On the acquisition side, the Management Board expects at least one company acquisition for the current financial year. Basically, the company also sees itself well positioned for larger acquisitions, both financially and under management capacity. The possible inorganic sales increase from acquisition activities is therefore forecast in the range of between EUR 5.0 million and EUR 40.0 million. Given the background of conservative sales and earnings planning, effects from company acquisitions are not included in the forecast for business development in 2018.

The full annual report for the 2017 financial year can be downloaded from the company's website at http://ringmetall.de/investor-relations/finanzberichte/. The English translation of the Annual Report 2017 will be available for download in the upcoming week at http://ringmetall.de/en/investor-relations/financial-reports/.


Contact:

Ingo Middelmenne
Investor Relations
Ringmetall AG

Phone: +49 (0)89 45 220 98 12
Mobile: +49 (0)174 90 911 90
E-mail: 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 100 million per year.



07.05.2018 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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