09.05.2018
va-Q-tec AG DE0006636681
DGAP-News: va-Q-tec AG: va-Q-tec publishes Q1 2018 statement
DGAP-News: va-Q-tec AG / Key word(s): Quarterly / Interim Statement
va-Q-tec AG: va-Q-tec publishes Q1 2018 statement
09.05.2018 / 08:31
The issuer is solely responsible for the content of this announcement.
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Press release
va-Q-tec publishes Q1 2018 statement
- Revenue growth mainly reflects continued strong demand in the Products
business
- New head office with production location and fulfilment centre for small
boxes opened in the USA
- Successful start to temp-chain service for leading semiconductor industry
supplier
- Q1 2018 revenue: EUR 12.0 million compared with EUR 11.4 million in Q1
2017 (+6%)
- EBITDA Q1 2018: EUR 0.7 million compared with very strong EBITDA of EUR
2.4 million in Q1 2017
Würzburg, 9 May 2018. va-Q-tec AG (ISIN DE0006636681 / WKN 663668), a
technologically leading provider of highly efficient products and solutions
in the area of thermal insulation and cold chain logistics, has today
published its quarterly statement on business trends during the first three
months of 2018 and announces revenue growth and very good progress in the
internationalisation of its operating activities.
Accordingly, the va-Q-tec Group grew its revenue by 6% in Q1 2018, from EUR
11.4 million in Q1 2017 to EUR 12.0 million. Total income was up by 10% from
EUR 13.3 million in the prior-year period to EUR 14.7 million in Q1 2018.
Earnings before interest, tax, depreciation and amortisation (EBITDA)
decreased from EUR 2.4 million to EUR 0.7 million. The EBITDA margin amounts
to 4%, compared to 18% in Q1 2017.
In the first quarter of the current 2018 financial year, year-on-year
revenue growth continued initially at a weaker level, as expected. Here, the
growth was generated mainly from the continued strong Products business
(sale of vacuum insulation panels), while the previous year's quarter was
significantly positively affected by a large-scale order in the Systems
business, as well as a very strong Services business. Revenue in the
Products business amounted to EUR 4.9 million during the first three months
of 2018, up 26% compared with Q1 2017, when the company generated EUR 3.9
million of revenue. The Products business remains driven by a continued high
level of demand for innovative insulation solutions, such as for
refrigerators and boilers. The Group generated sales revenues of EUR 3.7
million with Services ("Serviced Rental" of thermal packaging), compared
with EUR 4.2 million in the strong prior-year period. Here, the absolute
number of rentals remained stable compared with the previous year's quarter.
In some cases, the rental duration of va-Q-tainers - which are becoming
increasingly familiar worldwide - shortened due to faster customs processing
and improved handling, for example. Furthermore, some processes to acquire
tradelanes in the rental network for va-Q-tainers in the first quarter of
2018 proved more time-consuming on the customer side than originally
expected. This concerns projects with both new and existing customers.
Revenue generated with rental boxes, and especially the number of
transactions, registered significant growth. In the Systems area (sale of
thermal packaging), revenue reported a slight increase of EUR 0.1 million
(+4%) to EUR 3.2 million, compared with the previous year's very strong
quarter at EUR 3.1 million, which included one-off projects.
In the temperature-controlled air freight transportation area, va-Q-tec
launched a project in the first quarter with a leading supplier of systems
for the semiconductor industry. This enabled a reference customer exerting a
major impact on the entire industry to be acquired.
A new branch operation was opened in the USA in January. Especially the
production of small thermal boxes and the sale of such boxes are to occur
from the new fulfilment centre in Langhorne, Pennsylvania in the future.
With its proximity to renowned biotechnology, healthcare and pharmaceutical
centres, this represents an important milestone for the expansion of the
business in North America and for the Group's internationalisation in
general. Business origination activities in the USA have made a very
positive start. The conversion of the new headquarters in Würzburg and the
aggregation of production locations is advancing well.
Dr. Joachim Kuhn, founder and Management Board Chairman (CEO) of va-Q-tec,
comments on Q1 2018 trends: "The course of business during the first three
months of 2018 represents a continuation of what we already observed in the
second half of 2017: a combination of extraordinarily strong demand in the
Products business and a still-restrained start to the year in the Services
business, accompanied by large-scale investments in personnel and processes
for our further expected growth, led to higher revenue but an initially
reducing earnings trend compared with the strong previous year's quarter.
During 2017 and into 2018, we have significantly strengthened our
operational structures, including our management capacities. At the same
time, we also see that we have brought many things to momentum in the
Services area, which have not yet been reflected in revenue growth. For
example, we started to supply our new major customer in the semiconductor
industry and also achieved important milestones in several further projects,
including additional projects with pharmaceutical manufacturers. These will
contribute to growing revenue and earnings contributions from the Services
business during the further course of the year and beyond. We also further
progressed the internationalisation of our business activities. For 15
quarters, va-Q-tec has been reporting considerable year-on-year revenue
growth, and thanks to our technology platform, we are convinced that this
growth story will continue. Overall, we thereby see ourselves as within the
range of our expectations for the full year."
+++END+++
IR contact
va-Q-tec AG
Felix Rau
Telephone: +49 931 35942 - 2973
Email: [email protected]
cometis AG
Claudius Krause
Telefon: +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
the area of 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: www.va-q-tec.com
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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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683993 09.05.2018
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