GBC AG

euromicron AG

31.08.2018 - Equity Research Report (english) // buy

Research Report (Anno) - euromicron AG - english

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Unternehmen: euromicron AG
ISIN: DE000FTG1111
Branche: Industrie-Maschinenbau-Technologie-Automotive
Rating: buy
Kurs bei Erstellung in €: 5,60
Kursziel in €: 11,45
Mögl. Interessenskonflikt gem. §34b Abs.1 WpHG und FinAnv: 5a;5b;7;11

In H1 2018, euromicron AG generated revenue of EUR 150.65 million, down slightly on the previous year’s level of EUR 153.64 million. Adjusted for revenue effects from business operations discontinued during the interim period (effect: EUR 4.5 million), however, the first half of 2018 saw revenue growth of around 1.0%, or EUR 1.5 million, in ongoing core business. The “Critical Infrastructures” and “Distribution” segments proved, once again, to be reliable revenue generators.

The solid sales performance was also reflected in the operating earnings figures. As a result, the operating EBITDA improved slightly in the first half of 2018 from EUR 0.65 million to EUR 0.76 million. Moreover, the operating profit was significantly affected by exceptional costs of around EUR 2.5 million (PY: EUR 1.5 million). Accordingly, the net result after the first six months of FY 2018 was -EUR 7.13 million (PY: -EUR 5.48 million).

 

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