DGAP-News: STEMMER IMAGING publishes figures for the first quarter of 2018/2019: Successful start to the new financial year

STEMMER IMAGING publishes figures for the first quarter of 2018/2019: Successful start to the new financial year

Puchheim, 20 November 2018 - STEMMER IMAGING AG continued its dynamic growth course in the first quarter of the 2018/2019 financial year. Including ELVITEC S.A.S., which was acquired in July 2018, consolidated pro forma revenues increased by 15.7 per cent to EUR 25.39 million (previous year: EUR 21.95 million) and consolidated operating profit (EBITDA) by 25.3 per cent to EUR 2.87 million (previous year: EUR 2.29 million) compared to the first quarter of 2017/2018. Excluding ELVITEC, STEMMER IMAGING AG generated consolidated revenues of EUR 23.51 million and EBITDA of EUR 2.70 million.

STEMMER IMAGING AG (ISIN DE000A2G9MZ9 / GSIN A2G9MZ) today published its results for the first quarter of 2018/2019. Overall, the specialist for industrial image processing (Machine Vision) made a promising start to the new fiscal year. Excluding the new French subsidiary ELVITEC S.A.S., which was acquired in July 2018 and consolidated in accordance with the German Commercial Code (HGB) as of October 1, 2018, STEMMER IMAGING generated sales of EUR 23.51 million in the period from July 1, 2018 to September 30, 2018, an increase of 7.1 per cent (previous year: EUR 21.95 million). On a pro forma basis, the inclusion of ELVITEC S.A.S. as of July 1, 2018 results in sales growth of 15.7 per cent to EUR 25.39 million compared to the first quarter of 2017/2018. The operating result (EBITDA) improved by 17.9 per cent from EUR 2.29 million to EUR 2.70 million. The EBITDA margin thus amounts to 11.5 per cent (previous year: 10.5 per cent). On a pro forma basis, including ELVITEC S.A.S., the EBITDA improved by 25.3 per cent to EUR 2.87 million.

Consolidated earnings before interest and taxes (EBIT) of EUR 2.16 million were up on the previous year's figure of EUR 1.85 million. The bottom line was a consolidated net profit of EUR 1.71 million (previous year EUR 1.33 million), taking into account income tax expenses of EUR 0.59 million. As of September 30, 2018, STEMMER IMAGING AG had cash and cash equivalents of EUR 54.72 million and an equity ratio of 84.3 per cent.

The company continues to experience stable demand for image processing solutions and automation components. Order intake on a pro forma basis, including ELVITEC S.A.S., amounted to EUR 27.77 million, an increase of 14.1 per cent quarter-on-quarter. Excluding the French subsidiary, incoming orders in the first quarter 2018/2019 amounted to EUR 25.84 million and were thus 6.1 per cent above the corresponding prior-year period (previous year: EUR 24.35 million). Overall, STEMMER IMAGING AG continues to grow both organically and inorganically.

"In the first quarter of 2018/2019, we were able to take advantage of the tailwind from the record 2017/2018 financial year and continue to grow dynamically. We remain optimistic about the further development in the 2018/2019 financial year and expect a slightly higher gross margin and a slightly rising EBITDA margin for the year as a whole, with revenue growth up year-on-year. At the same time, we will continue to look for suitable and profitable acquisition targets in the market after our recent investment in Perception Park," says Lars Böhrnsen, CFO of STEMMER IMAGING AG.

The 3-month figures 2018/2019 of STEMMER IMAGING AG are available under
https://www.stemmer-imaging.de at your disposal.
 

About STEMMER IMAGING
STEMMER IMAGING is one of Europe's leading machine vision technology providers for science and industry. With a perfect combination of innovative products, expert advice and comprehensive service, STEMMER IMAGING helps clients solve their machine vision tasks securely with speed and ease. Experienced specialists can be contacted easily and are available to provide advice locally in 19 European countries.

Clients of STEMMER IMAGING benefit from the combination of an exceptionally wide variety of products from the world's leading manufacturers (e.g. cameras, lenses, illumination products, machine vision systems, software). Expert know-how gathered over many years help customers define the optimum, most cost-effective combination of components. The company attaches particular importance to the provision of solution-oriented services, including feasibility studies, development services, training and customer-focused support.

Contact:
STEMMER IMAGING AG
Lena Vitzthum
Investor Relations
Gutenbergstr. 9-13
82178 Puchheim, Germany
Tel.: +49 89 80902165
ir@stemmer-imaging.de
www.stemmer-imaging.de