STS Group AG publishes preliminary figures for first quarter of 2019
Hallbergmoos/Munich, April 30, 2019. STS Group AG (ISIN: DE000A1TNU68), which is listed in the Prime Standard of the Frankfurt Stock Exchange, achieved consolidated revenue of 95.5 mEUR in the period from January 1 to March 31, 2019, according to provisional calculations, compared with 108.9 mEUR in the previous year (-12.3%). Key factors for the decline in revenues were the planned expiry of a major order in the Plastics division by the end of the first half of the previous year, declines in the relevant passenger car market and a currently weaker market environment in China.
Despite the decline in sales in the first quarter, preliminary earnings before interest, taxes, depreciation and amortization (EBITDA) increased to 4.3 mEUR (Q1 2018: 3.5 mEUR). According to preliminary calculations, the adjusted operating result (Adjusted EBITDA) of 4.3 mEUR was below the previous year's level (Q1 2018: 8.1 mEUR).
The decline in revenue and adjusted earnings in the first quarter of 2019 compared with the same period of 2018 is in line with the Company's expectations. For the second half of 2019, the Management Board anticipates a positive development of the market environment within the relevant passenger car business, as also a stronger Chinese commercial vehicle market. In addition, the second half of 2019 is expected to see the launch of major projects in China. Against this backdrop, the Management Board expects further growth in the China segment for the full year 2019.
Taking into account the impulses of a positive market environment expected in the second half of the year, the Management Board maintains the annual forecast published on April 4, 2019, in the 2018 Annual Report.
STS Group AG will publish the interim report for the first quarter of 2019 on May 15, 2019.
STS Group AG
Head of Investor Relations
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