22.02.2017
R. Stahl AG DE000A1PHBB5
DGAP-News: R. STAHL publishes preliminary figures for fiscal year 2016
DGAP-News: R. Stahl AG / Key word(s): Preliminary Results
R. STAHL publishes preliminary figures for fiscal year 2016
22.02.2017 / 07:01
The issuer is solely responsible for the content of this announcement.
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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 2016 1) 2015 Change
in %
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: [email protected]
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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
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Language: English
Company: R. Stahl AG
Am Bahnhof 30
74638 Waldenburg
Germany
Phone: +49 (7942) 943-0
Fax: +49 (7942) 943-4333
E-mail: [email protected]
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
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546411 22.02.2017
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