STEMMER IMAGING Group has announced increased revenue of more than eight per cent for the 2018/2019 financial year.
Overall, the Group saw revenue increase by 8.3 per cent from EUR 100.6 million to EUR 109.0 million in the period from 1 July 2018 to 30 June 2019.
This is primarily due to regional diversification and growth into new end markets such as Sports & Entertainment and Medical.
Earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for non-recurring costs including the transition to International Financial Reporting Standards (IFRS), the switch to the Prime Standard of the Frankfurt Stock Exchange in May 2019 and costs in connection with acquisitions amounted to EUR 10.0 million compared with EUR 10.6 million in the previous year.
The results are inline with STEMMER IMAGING’s revenue forecast (EUR 108 to 111 million) and earnings forecast (adjusted EBITDA of EUR 10.0 to 12.2 million).
The strong fourth quarter of 2018/2019 with pleasing growth in revenue and incoming orders provides a tailwind and solid foundation for further development in the short 2019 financial year.
Overall, the Group’s expansion strategy has been validated with a balance between organic and inorganic growth in the form of profitable acquisitions at a national and international level.
The financial year saw the acquisition of the French ELVITEC S.A.S., the investment in the Austrian Perception Park GmbH, the acquisition of the Spanish Infaimon S.L., and the establishment of a subsidiary in Bologna, Italy, which has STEMMER IMAGING present in all major European markets with its own offices and specialist personnel. On the back of this, incoming orders rose by 5.6% from EUR 106.9 million to EUR 112.9 million in fiscal 2018/2019.
“Business performance was satisfactory in light of the challenging market environment. We saw gratifying revenue growth by expanding our business regionally and augmenting our product range with pioneering technologies. We want to follow through on this positive development and continue to grow sustainably and profitably in the planned short 2019 financial year,” says Arne Dehn, CEO of STEMMER IMAGING AG.
The 2018/2019 Annual Report can be downloaded from the Investors section of www.stemmer-imaging.de.