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STS Group AG publishes figures for the first half of 2021 - Positive development in line with management's expectations

2021| Aug| 05
Financial News
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DGAP-News: STS Group AG / Key word(s): Half Year Results
05.08.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

STS Group AG publishes figures for the first half of 2021 - Positive development in line with management's expectations

- Half-year development in line with management's expectations

- Organic revenue growth of 36.9% to 134.8 mEUR (HY/2020: 98.5 mEUR)

- Adjusted EBITDA increases to 13.9 mEUR (HY/2020: 2.8 mEUR)

- Guidance for full year 2021 confirmed

Hallbergmoos/Munich, August 5, 2021. STS Group AG (ISIN: DE000A1TNU68), a global systems supplier to the automotive industry listed in the General Standard of the Frankfurt Stock Exchange, today publishes its half-year results for the 2021 financial year.

Andreas Becker, CEO of STS Group AG: "After closing the past financial year on a positive note, we have started the year 2021 in a stronger position. The first half of the previous year was marked in particular by the plant closures in China and especially in Europe due to the COVID-19 pandemic. In this respect, the development in the first six months of the current business year was quite positive and in line with our expectations. We remain confident that the rest of the year will also develop in line with the forecast published on April 7, 2021."

Revenue development
STS Group generated revenue growth of 36.9% to 134.8 mEUR in the period from January 1 to June 30, 2021, compared to 98.5 mEUR in the same period last year. The previous year was impacted by the plant closures in China, particularly in the months of February and March, as also in Europe. After the China segment recovered rapidly in the further course of 2020 and achieved strong revenue growth in 2020 as a whole, this also remains at a high level in the first half of 2021 with a revenue volume of 52.3 mEUR (HY/2020: 36.4 mEUR). The European plants adjusted their production capacities to customers' plant closures, especially in the second quarter of 2020, after which the market increasingly recovered from the sales slumps in the course of the first half of 2020. In this respect, the Plastics and Materials segments achieved sales of 71.7 mEUR (HY/2020: 53.4 mEUR) and 14.4 mEUR (HY/2020: 11.5 mEUR), respectively in the reporting period.

Earnings development
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to 13.8 mEUR in the first half of 2021 (HY/2020: 1.2 mEUR). The adjusted operating result (Adjusted EBITDA) was 13.9 mEUR (HY/2020: 2.8 mEUR). The increase in Adjusted EBITDA is mainly due to the revenue growth of the high-margin China segment, which achieved an Adjusted EBITDA margin of 25.6% in the first six months with 13.4 mEUR (HY/2020: 7.6 mEUR). Savings in connection with the restructuring of the Group headquarters also led to cost reductions in the first half of 2021.

After depreciation in the first six months of the current financial year was slightly below the previous year's level at -7.4 mEUR (HY/2020: -7.8 mEUR), the financial result at -1.4 mEUR (HY/2020: -0.8 mEUR) and income taxes at -1.2 mEUR (HY/2020: -1.0 mEUR), a positive consolidated result of 3.8 mEUR (HY/2020: - 8.4 mEUR, including discontinued operations -27.7 mEUR) was achieved.

The English version of the 2021 half-year report is available for download at
https://www.sts.group/investor-relations/publications.

Key figures HY 2021

in mEURHY 2021HY 2020Delta %
Revenue134.898.5+36.9%
Plastics71.753.4+34.2%
China52.336.4+43.8%
Materials14.411.5+25.1%
Company / Consolidation-3.7-2.9+27.7%
Adj. EBITDA13.92.8>+100%
Plastics0.4-3.0>+100%
China13.47.6+77.6%
Materials-0.1-0.1+12.5%
Company / Consolidation0.1-1.7>+100%
Adj. EBITDA (in % of revenue)10.3%2.8%+7.5%-points
 


About STS Group:
STS Group AG, www.sts.group (ISIN: DE000A1TNU68), is a leading system supplier to the automotive industry. It employs more than 1,600 people worldwide and generated sales of 235.0 mEUR in the financial year 2020. STS Group ("STS") produces and develops at its twelve plants and three development centers in France, Germany, Mexico, China and, in the future, also in the USA plastic injection moulding and components made of composite materials (Sheet Molding Compound - SMC), such as solid and flexible vehicle and aerodynamic trim, entire interior systems, as well as lightweight construction and battery components for electric vehicles. STS is considered as a technology leader in the manufacture of plastic injection moulding and components made of composite materials. STS has a large global footprint with plants in three continents. The customer portfolio comprises leading international manufacturers of commercial vehicles, passenger cars and electric vehicles.

STS Group AG
Stefan Hummel
Head of Investor Relations
Zeppelinstrasse 4
85399 Hallbergmoos
Germany
+49 (0) 170 1810765
ir@sts.group
www.sts.group



05.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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