euromicron AG

09.05.2017 - Equity Research Einzelstudie // buy

Research Report (Anno) - euromicron AG

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Unternehmen: euromicron AG
ISIN: DE000A1K0300
Branche: Industrie-Maschinenbau-Technologie-Automotive
Rating: buy
Kurs bei Erstellung in €: 7,05
Kursziel in €: 10,50
Mögl. Interessenskonflikt gem. §34b Abs.1 WpHG und FinAnv: 5a;5b;11

In FY 2016, euromicron AG achieved sales of €325.31 million, 5.7% less than in the previous year. In particular, this decrease was mainly caused by the “Critical Infrastructures” segment which discontinued the business unit fibreglas infrastructure and could not materialise some sales due to not granted export licenses. In the “Smart Buildings” segment the sales decrease only was marginal, due to project postponements for component deliveries. However, it has to be mentioned that a large-scale order was contained in the previous financial years sales, which did not repeat in 2016. The “Distribution” segment, on the other hand, was able to record an increase in sales. Adjusted for the product lines that were discontinued in the previous year (€10.6 million), the decline in
organic sales was only about 2.7%.


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