Print

Wednesday, 22. February 2017 R. STAHL publishes preliminary figures for fiscal year 2016

Category: Corporate-News

DGAP-News: R. Stahl AG / Key word(s): Preliminary Results 22.02.2017 / 07:01 The issuer is solely responsible for the content of this announcement.


PRESSEINFORMATION / PRESS RELEASE

R. STAHL publishes preliminary figures for fiscal year 2016: Sales as well as earnings before interest and taxes (EBIT) slightly above outlook, order intake within expected range

- Sales decrease by 8.4 % compared to the previous year to EUR 286.6m (2015: EUR 312.9m).

- EBIT more than doubles to EUR 8.4m (2015: EUR 3.9m)

- Order intake reaches EUR 282.9m (2015: EUR 335.2m, -10.8 %), order backlog on Dec. 31, 2016 down 15.2 % to EUR 80.7m (Dec. 31, 2015: EUR 90.5m).

- Sales and EBIT to increase slightly in 2017 compared to prior year

Waldenburg, February 22, 2017 - R. STAHL, leading supplier of products and systems for explosion protection, today publishes preliminary figures for fiscal year 2016. The company generated sales of EUR 286.6m and an EBIT of EUR 8.4m, slightly exceeding the updated guidance for both sales (EUR 275m to EUR 285m) as well as EBIT (EUR 6m to EUR 8m). Order intake came in at EUR 282.9m within the forecasted corridor of EUR 275m and EUR 285m.

In the year 2016, suppliers of the oil and gas sector, which is also R. STAHL's largest selling market, were facing their biggest sales crisis since decades. Oil producers and processors had massively cut investments as a result of an even further decreased oil price in 2016 compared to previous years. Consequently, R. STAHL's sales in regions with big oil and gas occurences, the americas and asia, have been hit the hardest, with sales declining 27 percent and 23 percent, respectively, compared to the previous year. In contrast, sales in Europe grew by 6 percent, also as a result of the company's ongoing efforts to further diversify its customer base towards the chemical and pharmaceutical industry. The significant increase in EBIT compared to last year is driven by various factors. Firstly, prior year's EBIT was burdened by exceptional costs of EUR 7.5m stemming from a cost cutting program that was initiated in fiscal year 2015. Secondly, EBIT in fiscal year 2016 benefited from the savings from this cost cutting program that lead to a permanent cost reduction of about EUR 20m annually. In addition, an exceptional income of EUR 1.2m, including a property sale, contributed to the EBIT increase in fiscal year 2016.

"With the ongoing diversification of our customer base we are progressing towards our goal to reduce our dependency from the oil and gas sector as well as the oil price. For this purpose we want to further strengthen our existing market positions, complemented through innovations, to generate growth again." says R. STAHL CEO Martin Schomaker. "In addition, and even more than already in the past, we continue to see selective acquisitions as a key element to strengthen our business and as another pillar of our growth strategy."

CFO Bernd Marx commented: "Despite a massive decline in sales with high margins we have been able to increase earnings. This is particularly the result of the cost cutting program that we have initiated in the prior year. We will continue to take all necessary actions to increase R. STAHL's profitability, putting us into the best possible position to exploit our growth opportunities."

Outlook for 2017 For 2017, management is expecting slightly higher sales as well as a slightly higher EBIT before exceptionals compared to last year. This outlook is based on the company's action plan as well as current assumptions regarding the development of its markets. From a sequential perspective, business conditions in the second half of the year should be stronger, following an initially soft first half. Another key element of this outlook is the forecast of the International Energy Agency, which expects an average oil price of 50 USD per barrel in 2017.

Major key figures of R. STAHL Group pursuant to IFRS

EURm

20161)

2015

Changein %

Total sales

286.6

312.9

- 8.4

Order intake

282.9

317.3

- 10.8

Order backlog

80.7

95.2

- 15.2

EBIT

8.4

3.9

+ >100

EBT (earnings before taxes)

5.4

0.7

+ >100

Employees as at 31 Dec. (excl. trainees)

1,788

1,894

- 5.6

1) Preliminary figures; the final and full figures as well as the Annual Report 2016 will be published on April 21, 2017.

Financial calendar 2017 April, 21 Publication of the Annual Report 2016 May, 10 Report on the first quarter June, 02 Annual general meeting in Neuenstein August, 03 Report on the first half November, 10 Report on the third quarter

About R. STAHL - www.stahl.de R. STAHL is the world's leading supplier of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio ranges from products used in switching/distributing, installing, operating/monitoring, lighting and signalling/alarming up to automation. Typical customers operate in growth industries, such as the oil & gas industry, the chemical and pharmaceutical industry and the food industry. In 2016, global sales amounting to EUR 286.6m were generated by 1,788 employees.1) The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).

Contact: R. STAHL AG Am Bahnhof 30, 74638 Waldenburg (Wuertt.)

Dr. Thomas Kornek Head of Investor Relations & Corporate Communications Phone: +49 7942 943-1395 E-mail: thomas.kornek@stahl.de


22.02.2017 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.de


 

Language:

English

Company:

R. Stahl AG

Am Bahnhof 30

74638 Waldenburg

Germany

Phone:

+49 (7942) 943-0

Fax:

+49 (7942) 943-4333

E-mail:

info@stahl.de

Internet:

www.stahl.de

ISIN:

DE000A1PHBB5

WKN:

A1PHBB

Listed:

Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange

 

 

 

End of News

DGAP News Service

show this