Puchheim, February 20, 2020 - In the course of the ongoing preparation of the consolidated financial statements for the short fiscal year 2019 of STEMMER IMAGING AG, it has become apparent that the results for the short fiscal year 2019 will be below previous expectations.

While revenues in the short fiscal year 2019 (July - December 2019) of EUR 62.3 million were up on the figure of EUR 50.7 million achieved in the same period of the previous year and within the forecast range of EUR 59.0 to 65.0 million, the EBITDA forecast based on preliminary figures will not be met. The preliminary adjusted Group EBITDA amounts to approximately EUR 4.7 million (previous year: EUR 4.0 million) and is thus below the forecast range of EUR 6.0 million to EUR 7.5 million. This is due mainly to an increased operating cost level in the second quarter of the short fiscal year, which had a strong impact on earnings. In addition to the previously announced one-off expenses of EUR 1.5 million, earnings for the second quarter will be characterized by additional expenses for extensive organizational and structural measures, which will create the environment needed for the previously announced growth strategy. The Management Board confirms its communicated medium-term goal of achieving annual revenues of more than EUR 200 million with an EBITDA return on sales of 10 to 12%.

The figures announced in this release are preliminary and unaudited. STEMMER IMAGING AG will publish the final figures for the short fiscal year 2019 on March 31, 2020.

Contact:
STEMMER IMAGING AG
Arne Dehn
Chief Executive Officer

Gutenbergstr. 9-13
82178 Puchheim, Germany
Phone: +49 89 80902-196
[email protected]
www.stemmer-imaging.com