STEMMER IMAGING AG expects declining earnings for fiscal 2020; postponement of publication of financial reports for short fiscal year 2019

Puchheim, March 12, 2020 - STEMMER IMAGING generated sales of EUR 62.3 million and EBITDA (adjusted)* of EUR 4.7 million in the past short financial year (July 1, 2019 to December 31, 2019) on the basis of preliminary figures (see ad hoc release dated February 20, 2020). For the fiscal year 2020 (January 1, 2020 to December 31, 2020) STEMMER IMAGING expects a declining business development. STEMMER IMAGING forecasts revenues in a range of EUR 105 million to EUR 120 million for the fiscal year 2020. The anticipated EBITDA is expected to be significantly lower than the previous business results (FY 2018/19: EBITDA adjusted: EUR 10.0 million; short FY 2019: EBITDA adjusted: EUR 4.7 million). This assessment by the Management Board is based, among other things, on the comparatively weak earnings situation in the second quarter of the short financial year 2019, the declining business development in the first months of the first quarter of the current financial year and the effects of the corona crisis, which can only be estimated to a limited extent at the present time.

Due to system and process-related delays, the Management Board of STEMMER IMAGING AG today decided not to publish the consolidated financial statements and the Group management report for the short fiscal year 2019 on March 31, 2020 as planned.

STEMMER IMAGING will publish the annual report for the short fiscal year 2019, including the consolidated financial statements and the group management report, in April 2020. The Company will announce the exact date in good time before publication.

* EBITDA corresponds to the definition in the STEMMER IMAGING Annual Financial Report 2018/2019 on page 24.

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