DGAP-News: First Sensor AG / Key word(s): Final Results
First Sensor Closes 2016 at Upper End of Expectations
First Sensor AG, a developer and manufacturer of standard products and customer-specific solutions in the growth market of sensor systems, increased its sales by 9.0% to EUR150.1 million in fiscal year 2016 (previous year: EUR137.7 million). The EUR150 million mark was thus exceeded for the first time and a figure at the upper end of the forecast (EUR145-150 million) was achieved. With percentage increases of between 29.2% and 17.8% compared to the previous year, the Medical and Mobility segments made a particularly significant contribution to this positive development.
"The growth achieved in the past fiscal year not only shows that we are continuing to participate in the strong growth of sensor technology, a key technology that is essential to many innovations in different industries. In addition, this success is also the result of our commitment to excellence," says Dr. Dirk Rothweiler, CEO of First Sensor AG. "For us, this begins with customer collaboration. We use our technological expertise and application know-how to help our customers develop the right product or find a customized solution. But excellence also means ensuring efficiency at all stages of the value chain with clear processes. This gives rise to powerful sensors and sensor systems with tailored features that guarantee sustainable success for both us and our customers."
The company thus achieved an EBIT margin of 6.7% in 2016, also putting it at the upper end of its forecast (6-7%). This equates to EBIT of EUR10.0 million. EBITDA amounted to EUR19.4 million, corresponding to an EBITDA margin of 12.9%. "With this result, we have demonstrated that First Sensor is capable of translating the volume of business into a significant improvement in profitability. This achievement is even more important to us, and no doubt also to our shareholders, than the increase in sales," says Dr. Mathias Gollwitzer, CFO of First Sensor AG. "It indicates that our activities aimed at improving processes and increasing efficiency are starting to bear fruit. And it also shows that we are coming closer step by step to our goal of achieving an EBIT margin of 10%."
However, this positive business development will be impacted by the scheduled expiration of a major order in the Mobility segment at the end of last year. To compensate for this, internal growth of as much as EUR10 million will first have to be achieved over the course of the year. Consequently, the Management Board is expecting a sales level in the region of EUR140 million to EUR145 million in fiscal year 2017. This already takes into account that the launch of new products may result in delays on the customer's end. The Management Board is planning to generate an EBIT margin of 5% to 6% in fiscal year 2017. The margin target is thus at the level of the original EBIT forecast for fiscal year 2016 despite the lower sales guidance compared to 2016.
Incoming orders and orders on hand
Statement of financial position and cash flow
"These expectations are supported not only by market data, but also by our many development projects, which are based on tangible customer requirements," says Rothweiler. "By focusing on the high-growth industrial, medical and mobility markets, we will continue to participate in trends such as Industry 4.0, autonomous driving and miniaturization of medical technology going forward and leverage these opportunities both quantitatively and qualitatively. To achieve this, we will boost sales and expand internationalization, initially continuing to focus on North America and China. We will generate further growth on this basis."
The company is tapping further potential with a strong customer focus, which it believes to be the key to success in sales and earnings. "We will focus our efforts on improving profitability in 2017 as well. For this reason, we are sticking to our motto of 'no sale at any cost'," says Gollwitzer. "This means that we accept orders only if they make an adequate contribution to earnings. In tandem with this, we will leverage further optimization potential as planned in order to gradually improve profitability to an EBIT margin of 10% over the coming years. The goal is to enhance value continuously."
First Sensor in figures
About First Sensor AG
The annual general meeting takes place on May 24th 2016 at 10:00 a.m. at the Pentahotel Berlin
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20.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||First Sensor AG|
|Phone:||+49 (0)30 63 99 23-760|
|Fax:||+49 (0)30 63 99 23-719|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|
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