20.03.2018
va-Q-tec AG DE0006636681
DGAP-News: va-Q-tec AG: va-Q-tec publishes preliminary 2017 results
DGAP-News: va-Q-tec AG / Key word(s): Preliminary Results
va-Q-tec AG: va-Q-tec publishes preliminary 2017 results
20.03.2018 / 08:30
The issuer is solely responsible for the content of this announcement.
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va-Q-tec publishes preliminary 2017 results
- 2017 revenue: EUR 46.9 million compared with EUR 35.5 million in 2016 (+
32%)
- 2017 EBITDA: EUR 7.2 million compared with EUR 7.0 million in 2016
- va-Q-tec sees itself remaining on its growth and internationalisation path
in 2018
Würzburg, 20 March 2018. va-Q-tec AG (ISIN DE0006636681 / WKN 663668), a
technologically leading supplier of highly efficient products and solutions
in the thermal insulation and cold chain logistics area, today publishes
preliminary figures on its 2017 business trends. According to these results,
the Würzburg-based company reports further strong revenue growth. The
va-Q-tec Group grew its revenue by 32% in 2017, from EUR 35.5 million in
2016 to EUR 46.9 million, based on preliminary unaudited IFRS figures. With
this growth, the company reached the upper end of the adjusted expectations
for 2017 of a rate between 28% and 32% (originally: 35% - 40%). In terms of
earnings before interest, tax, depreciation and amortisation (EBITDA),
va-Q-tec achieved its adjusted forecast. EBITDA was down by 3% from EUR 7.0
million (adjusted) to EUR 7.2 million (adjusted). This corresponds to a 13%
EBITDA margin, compared to 16% in the previous 2016 financial year. The
strong growth in the product business as well as further operative special
effects thereby led to a positive, albeit weaker, overall earnings trend
than forecast at the start of 2017.
Dr. Joachim Kuhn, founder and Management Board Chairman (CEO) of va-Q-tec,
comments: "We continued to report very dynamic growth in 2017. We also
expanded our container fleet - as planned - opened additional logistics hubs
and acquired new customers. This, together with our unique technology, forms
an excellent basis from which to continue our growth story in 2018 and
beyond. Although the year developed differently to how we originally
expected, we are satisfied overall with the positive business trend in
2017."
The revenue growth achieved in 2017 is especially attributable to a strong
Products business as well as a strong Services business. The former
benefited from higher demand for high-performance insulation for
refrigeration equipment and storage water heaters. Revenue from selling
vacuum insulation panels (VIPs) was up by 59% from EUR 11.3 million in the
previous year to EUR 18.0 million. In the strong Services business -
comprising the rental of thermal containers and thermal boxes - the positive
trend in container rentals at the UK subsidiary and the continuation of the
success of the box rental business made significant contributions. Revenue
in this operating segment amounted to EUR 17.4 million in the 2017 financial
year, up 32% compared with the previous year, when the company generated EUR
13.2 million of revenue. Revenue generated with Systems (sales of thermal
packaging) rose by 4% to EUR 10.8 million (previous-year period: EUR 10.4
million). As a consequence, the very strong previous year in 2016 with its
large-scale projects was surpassed by regular orders.
For the current 2018 financial year, va-Q-tec AG continues to anticipate
strong and profitable growth. va-Q-tec has already laid important related
foundations in 2017. The temperature-controlled air freight container fleet
reached a volume of almost 1,500 as of the year-end, an increase of around
50%. The company also invested in machinery and plant capacities and in a
new production and logistics headquarters, from which it expects significant
efficiency benefits. With the opening of a production site in the USA at the
start of 2018, va-Q-tec reached an important milestone in its further
internationalisation. The new fulfilment centre in Langhorne, Pennsylvania,
represents a central element in the company's growth strategy and offers an
ideal infrastructure situated close to renowned US biotechnology, healthcare
and pharmaceutical centres. The good start to the current financial year is
also underscored by the successful start to a project entailing
temperature-controlled air freight transports for a leading semiconductor
industry supplier. This project is exerting a major impact on its entire
sector.
The figures that have been published for the 2017 financial year are
preliminary and subject to audit. The final financial and results figures
for the 2017 financial year, as well as the outlook for the 2018 financial
year, will be published on 12 April 2018, and will be made available on the
website at ir.va-q-tec.com.
+++END+++
IR contact
va-Q-tec AG
Felix Rau
Telephone: +49 931 35942 - 2973
Email: [email protected]
cometis AG
Claudius Krause
Telephone: +49 611 - 20 585 5-28
Email: [email protected]
About va-Q-tec
va-Q-tec is a leading supplier of high-performance products and solutions in
thermal insulation and cold chain logistics. The company develops, produces
and markets highly efficient and consequently thin vacuum insulation panels
(VIPs) as well as phase change materials (PCMs) for reliable and
energy-efficient temperature controlling. In addition, va-Q-tec produces
passive thermal packaging systems (containers and boxes) through optimally
integrating VIPs and PCMs, which can maintain constant temperatures,
depending on type, up to 200 hours without external energy input. To
implement temperature-sensitive logistics chains, va-Q-tec - within a global
partner network - operates a fleet of rental containers and boxes meeting
demanding thermal protection standards. Along with healthcare & logistics as
the main market, va-Q-tec addresses the following further markets: Appliance
& Food, Technics & Industry, Building and Mobility. The high-growth company,
which was founded in 2001, is based in Würzburg, Germany. Further
information is available at: www.va-q-tec.com
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20.03.2018 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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Language: English
Company: va-Q-tec AG
Alfred-Nobel-Straße 33
97080 Würzburg
Germany
Phone: +49 (0)931 35 942 0
Fax: +49 (0)931 35 942 10
E-mail: [email protected]
Internet: www.va-Q-tec.com
ISIN: DE0006636681
WKN: 663668
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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665909 20.03.2018
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