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10.05.2016 07:30:11
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DGAP-News: UNIWHEELS AG
DGAP-News: UNIWHEELS AG: UNIWHEELS AG presents Q1 financial results - another strong quarter - outlook increased
- Revenue growth +4% to EUR 109.1 million, influenced by aluminium price adjustments
- EBITDA +6.8% to EUR 14.1 million
- Net profit influenced by base effect resulting from non-recurring Financial Revenue in Q1 2015
- Client base diversification - first delivery to Hyundai
- Construction works in Stalowa Wola on schedule, additional capacity of 500 thousand wheels available in 2016, full capacity advanced to early 2017
- Outlook for 2016 increased - wheels sales growth of 8-12%, revenue growth in the upper single digit range, EBITDA growth of 8-12%
Bad Dürkheim, 10th May, 2016: Germany-based alloy wheels manufacturer UNIWHEELS AG, listed on the Warsaw Stock Exchange, presented its financial results for the first quarter of 2016. In the first quarter of 2016 UNIWHEELS Group sold 2.1 million wheels in both segments: Automotive (1.782 ths. units sold +11.9% yoy) and Accessory (305 ths. units sold +4.1% yoy) - in total an increase of 10.7% over 1Q 2015.
In 1Q 2016 UNIWHEELS generated EUR 109.1 million in revenues, an increase of 4%, influenced by price adjustments, based on lower prices for aluminium compared to 1Q 2015. EBITDA increased to EUR 14.1 million (+6.8% yoy) and the EBITDA margin improved yoy by 0.3 pp to 12.9%. Net profit declined slightly yoy to EUR 10.5 million (1Q 2015 results were positively affected by derivatives valuation in Other Financial Income - in 1Q 2016 this impact was lower).
"Ongoing strong demand growth from our OEM customers and optimization allowed for an impressive volume growth of wheels sold to 2.1 million units in 1Q 2016 - says Dr. Thomas Buchholz, UNIWHEELS AG CEO. "We are happy that we were able to meet this growing demand thanks to additional performance increases in the existing plant system, especially in German plant in Werdohl" - he says. "What is worth stressing, we continuously work on client base diversification, and in this quarter we delivered first part of wheels to our new customer - Hyundai Motor Company" - adds Dr. Thomas Buchholz.
"We are also satisfied with the Accessory business performance in the first quarter - in a stagnating market we achieved an increase of volumes sold of over 4% yoy, which accompanied by a better product mix towards more complex surfaces and higher value brands, resulted in an increase of segment revenues of 7.3% yoy" - says Dr. Karsten Obenaus, UNIWHEELS AG CFO.
"Construction works in Stalowa Wola are fully on schedule. The crucial painting line has been installed. Currently casting machines and robot cells are being installed, as well as the transporting system, which connects all modules to a system. The start of operation is scheduled for this summer and the first phase will add capacity of 500,000 wheels this year. 2nd phase which will provide full capacity of 2 million wheels per year is advanced by roughly one year - to early 2017" - says Dr. Buchholz.
"Increase of volumes in both segments, good market perspectives, sound financials, very low level of net debt provide a solid foundation for further expansion and reaching our strategic objective of growing faster than the market. We are anticipating a further increase in unit sales in 2016 which combined with performance increase effects, already visible in 1Q 2016, allows us to increase full year outlook for 2016. Now we are expecting wheel sales growth of 8-12%, revenue growth in the upper single digit range and consolidated EBITDA growth of 8-12%." - adds Dr. Karsten Obenaus.
At its meeting on 26 April 2016, the Supervisory Board of UNIWHEELS AG passed a resolution to appoint Dr. Wolfgang Hiller as an additional member to the Management Board effective 1 June 2016. As the Chief Operating Officer (COO), Dr. Hiller will be in charge of Operations and is also assigned responsibility for the Accessory division.
Key financial figures of UNIWHEELS Group for 1Q 2016:
(in EUR mln unless otherwise stated) 1Q 2016 1Q 2015 +/- Revenue 109.1 104.9 +4.0% Sales volume (thousand units) 2,087 1,885 +10,7% EBITDA 14.1 13.2 +6.8% EBITDA margin (% of revenue) 12.9% 12.6% +0.3PP EBIT 10.2 9.6 +6.3% EBIT margin (% of revenue) 9.3% 9.2% +0.1PP Net profit 10.5 13.4 -21.6% Capital expenditures and investments 23.3 4.3 +441.9% Personnel (headcount) 2,743 2,466 +11.2%
Financial highlights 1Q2016: - Revenues increased by 4%, driven by:
- wheels sales increase of 10.7%
- product mix with higher value added (more complex surfaces, and bigger sizes)
- price adjustments based on lower prices for aluminum
- Material costs drop by 7.1% (influenced by LME prices)
- Personnel costs reflects recruitment for new plant in (ramp-up costs) +7.2%
- Consequently EBITDA increased 6.8%% yoy to EUR 14.1 mln, and EBIT increased by 6.3% to EUR 10.2 mln
- EBITDA and EBIT margins improved
- Interest expenses more than halved due to new financing structure
- Net profit -21.6% yoy influenced by base effect resulting from non-recurring Financial Revenue in Q1 2015
- Dividend proposal: EUR 1.65 per share (payout ratio of 50% of net profit)
About UNIWHEELS:
The UNIWHEELS Group is one of the leading manufacturers of aluminum wheels for cars in Europe and is one of the few technology leaders worldwide in the aluminum wheel industry.
UNIWHEELS is Europe's third largest manufacturer of wheels supplying OEMs in the automobile industry and is the leading producer of alloy wheels for the aftermarket in Europe. The group's most well-known proprietary brands are ATS, RIAL, ALUTEC and ANZIO. Currently the group has three production plants of which two are in Poland (Stalowa Wola) and one in Germany (Werdohl). The new plant (No. 4) will go into operation in the middle of the year and increase the group's maximum annual production capacity by roughly 2 million wheels.
UNIWHEELS sees itself as one of the leading partners of the automotive industry for the optimum reduction of CO2 emissions by reducing the weight of alloy wheels. As well as weight-optimized construction methods, the following procedures are primarily used: Flow Forming, Lightforming, undercutting and forgecut.
In 2015 UNIWHEELS Group had with a sales volume of 7.8 million wheels EUR 436.5 million of revenues and an EBITDA of EUR 58.7 million. 2,539 employees worked for the Group.
Since 2015, UNIWHEELS AG is publicly listed on Main Market of Warsaw Stock Exchange. The UNIWHEELS stock is floated under security identification number A13STW, ISIN DE000A13STW4 and ticker symbol UNW.
For more information please contact:
Oliver Madsen Head of Investor Relations Email: o.madsen@de.uniwheels.com UNIWHEELS AG Gustav-Kirchhoff-Str. 10 67098 Bad Dürkheim Germany
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10.05.2016 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. Media archive at www.dgap-medientreff.de and www.dgap.de
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461705 10.05.2016
DGAP-News: UNIWHEELS AG / Key word(s): Quarter Results/Forecast
UNIWHEELS AG: UNIWHEELS AG presents Q1 financial results - another strong
quarter - outlook increased
10.05.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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UNIWHEELS AG presents Q1 financial results -
another strong quarter - outlook increased
- Double-digit volume growth to 2.1 million wheels sold
- Revenue growth +4% to EUR 109.1 million, influenced by aluminium price adjustments
- EBITDA +6.8% to EUR 14.1 million
- Net profit influenced by base effect resulting from non-recurring Financial Revenue in Q1 2015
- Client base diversification - first delivery to Hyundai
- Construction works in Stalowa Wola on schedule, additional capacity of 500 thousand wheels available in 2016, full capacity advanced to early 2017
- Outlook for 2016 increased - wheels sales growth of 8-12%, revenue growth in the upper single digit range, EBITDA growth of 8-12%
Bad Dürkheim, 10th May, 2016: Germany-based alloy wheels manufacturer UNIWHEELS AG, listed on the Warsaw Stock Exchange, presented its financial results for the first quarter of 2016. In the first quarter of 2016 UNIWHEELS Group sold 2.1 million wheels in both segments: Automotive (1.782 ths. units sold +11.9% yoy) and Accessory (305 ths. units sold +4.1% yoy) - in total an increase of 10.7% over 1Q 2015.
In 1Q 2016 UNIWHEELS generated EUR 109.1 million in revenues, an increase of 4%, influenced by price adjustments, based on lower prices for aluminium compared to 1Q 2015. EBITDA increased to EUR 14.1 million (+6.8% yoy) and the EBITDA margin improved yoy by 0.3 pp to 12.9%. Net profit declined slightly yoy to EUR 10.5 million (1Q 2015 results were positively affected by derivatives valuation in Other Financial Income - in 1Q 2016 this impact was lower).
"Ongoing strong demand growth from our OEM customers and optimization allowed for an impressive volume growth of wheels sold to 2.1 million units in 1Q 2016 - says Dr. Thomas Buchholz, UNIWHEELS AG CEO. "We are happy that we were able to meet this growing demand thanks to additional performance increases in the existing plant system, especially in German plant in Werdohl" - he says. "What is worth stressing, we continuously work on client base diversification, and in this quarter we delivered first part of wheels to our new customer - Hyundai Motor Company" - adds Dr. Thomas Buchholz.
"We are also satisfied with the Accessory business performance in the first quarter - in a stagnating market we achieved an increase of volumes sold of over 4% yoy, which accompanied by a better product mix towards more complex surfaces and higher value brands, resulted in an increase of segment revenues of 7.3% yoy" - says Dr. Karsten Obenaus, UNIWHEELS AG CFO.
"Construction works in Stalowa Wola are fully on schedule. The crucial painting line has been installed. Currently casting machines and robot cells are being installed, as well as the transporting system, which connects all modules to a system. The start of operation is scheduled for this summer and the first phase will add capacity of 500,000 wheels this year. 2nd phase which will provide full capacity of 2 million wheels per year is advanced by roughly one year - to early 2017" - says Dr. Buchholz.
"Increase of volumes in both segments, good market perspectives, sound financials, very low level of net debt provide a solid foundation for further expansion and reaching our strategic objective of growing faster than the market. We are anticipating a further increase in unit sales in 2016 which combined with performance increase effects, already visible in 1Q 2016, allows us to increase full year outlook for 2016. Now we are expecting wheel sales growth of 8-12%, revenue growth in the upper single digit range and consolidated EBITDA growth of 8-12%." - adds Dr. Karsten Obenaus.
At its meeting on 26 April 2016, the Supervisory Board of UNIWHEELS AG passed a resolution to appoint Dr. Wolfgang Hiller as an additional member to the Management Board effective 1 June 2016. As the Chief Operating Officer (COO), Dr. Hiller will be in charge of Operations and is also assigned responsibility for the Accessory division.
Key financial figures of UNIWHEELS Group for 1Q 2016:
(in EUR mln unless otherwise stated) 1Q 2016 1Q 2015 +/- Revenue 109.1 104.9 +4.0% Sales volume (thousand units) 2,087 1,885 +10,7% EBITDA 14.1 13.2 +6.8% EBITDA margin (% of revenue) 12.9% 12.6% +0.3PP EBIT 10.2 9.6 +6.3% EBIT margin (% of revenue) 9.3% 9.2% +0.1PP Net profit 10.5 13.4 -21.6% Capital expenditures and investments 23.3 4.3 +441.9% Personnel (headcount) 2,743 2,466 +11.2%
Financial highlights 1Q2016: - Revenues increased by 4%, driven by:
- wheels sales increase of 10.7%
- product mix with higher value added (more complex surfaces, and bigger sizes)
- price adjustments based on lower prices for aluminum
- Material costs drop by 7.1% (influenced by LME prices)
- Personnel costs reflects recruitment for new plant in (ramp-up costs) +7.2%
- Consequently EBITDA increased 6.8%% yoy to EUR 14.1 mln, and EBIT increased by 6.3% to EUR 10.2 mln
- EBITDA and EBIT margins improved
- Interest expenses more than halved due to new financing structure
- Net profit -21.6% yoy influenced by base effect resulting from non-recurring Financial Revenue in Q1 2015
- Dividend proposal: EUR 1.65 per share (payout ratio of 50% of net profit)
About UNIWHEELS:
The UNIWHEELS Group is one of the leading manufacturers of aluminum wheels for cars in Europe and is one of the few technology leaders worldwide in the aluminum wheel industry.
UNIWHEELS is Europe's third largest manufacturer of wheels supplying OEMs in the automobile industry and is the leading producer of alloy wheels for the aftermarket in Europe. The group's most well-known proprietary brands are ATS, RIAL, ALUTEC and ANZIO. Currently the group has three production plants of which two are in Poland (Stalowa Wola) and one in Germany (Werdohl). The new plant (No. 4) will go into operation in the middle of the year and increase the group's maximum annual production capacity by roughly 2 million wheels.
UNIWHEELS sees itself as one of the leading partners of the automotive industry for the optimum reduction of CO2 emissions by reducing the weight of alloy wheels. As well as weight-optimized construction methods, the following procedures are primarily used: Flow Forming, Lightforming, undercutting and forgecut.
In 2015 UNIWHEELS Group had with a sales volume of 7.8 million wheels EUR 436.5 million of revenues and an EBITDA of EUR 58.7 million. 2,539 employees worked for the Group.
Since 2015, UNIWHEELS AG is publicly listed on Main Market of Warsaw Stock Exchange. The UNIWHEELS stock is floated under security identification number A13STW, ISIN DE000A13STW4 and ticker symbol UNW.
For more information please contact:
Oliver Madsen Head of Investor Relations Email: o.madsen@de.uniwheels.com UNIWHEELS AG Gustav-Kirchhoff-Str. 10 67098 Bad Dürkheim Germany
---------------------------------------------------------------------------
10.05.2016 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. Media archive at www.dgap-medientreff.de and www.dgap.de
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461705 10.05.2016
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