DGAP-News: JOST Werke AG / Key word(s): Final Results/Dividend JOST Werke AG: JOST confirms record sales and earnings for 2017 fiscal year and proposes a first-time dividend of EUR 0.50 per share 22.03.2018 / 07:59 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- JOST Werke AG confirms record sales and earnings for 2017 fiscal year and proposes a first-time dividend of EUR 0.50 per share - Sales up 11% to EUR 701.3 million - Adjusted EBIT rises by 23% to EUR 76.4 million - Net debt more than halved to EUR 113.3 million - First-time dividend of EUR 0.50 per share proposed - 2018 guidance: profitable growth set to continue Neu-Isenburg, March 22, 2018. JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems to the truck and trailer industry, at today's presentation of its annual financial statements confirmed the preliminary results published on February 27, 2018. The Group met, and in some cases exceeded, all of its financial targets in the 2017 fiscal year. The Company, which has been listed on the stock exchange for eight months now, wants its shareholders to participate in its successful business performance. Thus, the Management Board and Supervisory Board of JOST will propose a first-time dividend of EUR 0.50 per share to the Annual General Meeting. Lars Brorsen, Chief Executive Officer (CEO) of JOST Werke AG, said: "We are delighted with our progress in 2017. We successfully listed our shares and demonstrated the company's growth potential, profitability and financial strength. Our recent admission to the SDAX further underlined this positive performance. We want our shareholders to participate in this success and propose to distribute a dividend of EUR 0.50 per share. With a tailwind from 2017 and the proven success of a business model founded on a stable volume business, the highest quality and constant innovation, we will remain on track for growth in the current fiscal year." Strong performance in all regions JOST increased consolidated sales by 11% to EUR 701.3 million in the 2017 fiscal year, compared to EUR 633.9 million in the previous year. All regions contributed to this result. JOST once again benefited from its innovative strength and a strategy focused on providing a benefit to the customer. The Asia, Pacific and Africa (APA) region was the strongest growth driver with a particularly remarkable 37% rise in sales to EUR 141.6 million (2016: EUR 103.2 million). In North America, JOST lifted its sales by 8% to EUR 118.5 million in the reporting period (2016: EUR 109.8 million). In Europe, sales expanded by 5% to EUR 441.2 million against a stable market. During the year under review, earnings before interest and tax (EBIT) adjusted for exceptional items and depreciation and amortization arising from purchase price allocations rose by 23% to EUR 76.4 million (2016: EUR 61.9 million). This development was driven by double-digit growth rates in all segments, as a result of dynamic sales growth, continuous efficiency gains and disciplined cost management within the Group. First dividend after stock listing and financial flexibility In the period under review, JOST generated adjusted consolidated net earnings of EUR 44.6 million (2016: EUR 29.6 million), an increase of 51%. The main exceptional items were non-recurring expenses associated with the stock listing as well as non-recurring non-cash charges caused by the conversion of shareholder loans, and depreciation and amortization arising from purchase price allocations (PPA). The Group's unadjusted earnings after tax was EUR -62.8 million (2016: EUR -15.2 million). Adjusted earnings per share amounted to EUR 2.99 (unadjusted earnings per share: EUR -4.22). JOST proposes the distribution of a dividend of EUR 0.50 per share fully paid from the company's tax-recognized contribution account. JOST's liquid assets increased markedly from EUR 47.2 million to EUR 66.3 million during the reporting period. As a result of strong cash generation and the capital increase associated with the stock listing, the Group significantly enhanced its financial flexibility in the past fiscal year. As of December 31, 2017, net debt more was than halved year-on-year to EUR113.3 million (2016: EUR272.8 million). At the same time, the equity ratio increased to 34% at the end of December 2017 (2016: -23%). "We significantly strengthened JOST's financial base in the past year," said Christoph Hobo, Chief Financial Officer of JOST Werke AG. "Halving our net debt has given us greater flexibility to implement strategic measures and invest in further growth in a targeted way. At the same time, we will forge ahead with our ongoing efficiency enhancement measures in 2018." Positive performance expected to continue in 2018 JOST expects to remain on track for growth in 2018 and anticipates a further rise in sales and earnings. The Company is forecasting organic sales growth in the mid single-digit percentage range for the current fiscal year. This forecast is based on the assumption of constant exchange rates. The Group also anticipates an increase in adjusted EBIT, which is also expected to reach the mid-single digit percentage range in line with or slightly outpacing sales performance. Contact: JOST Werke AG Romy Acosta Senior Manager Investor Relations T: +49 (0)6102 295-379 [email protected] About JOST: JOST is a leading global producer and supplier of safety-critical systems to the truck and trailer industry. The Company offers branded quality products clustered in three systems: Vehicle Interface (focusing on products required to operate a commercial vehicle combination of trucks and trailers such as fifth wheels and landing gears), Handling Solutions (including container technology and hydraulic cylinders products) and Maneuvering (focusing on truck and trailer axles and forced steering). As the number one supplier of fifth wheels and landing gears globally, JOST is the market leader for Vehicle Interface systems. JOST's global leadership position is driven by the strength of its brands, by its long-standing client relationships serviced through its global distribution network as well as by its efficient and asset-light business model. The Company's core brands "JOST", "Rockinger", "TRIDEC" and "Edbro" are well-recognized in the industry and highly regarded for their quality and continuous innovation. With its global distribution network and production facilities in thirteen countries across five continents, JOST has direct access to all major truck and trailer manufacturers and relevant end customers. JOST currently employs about 2,800 staff worldwide. --------------------------------------------------------------------------- 22.03.2018 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: JOST Werke AG Siemensstraße 2 63263 Neu-Isenburg Germany Phone: +49 6102 2950 Fax: +49 (0)6102 295-298 E-mail: [email protected] Internet: www.jost-world.com ISIN: DE000JST4000 WKN: JST400 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 667227 22.03.2018