DGAP-News: va-Q-tec AG / Key word(s): Half Year Results
va-Q-tec reports dynamic growth in H1 2019 and tripling of EBITDA
- Very strong revenue growth of 26% to EUR 31.3 million in H1 2019 compared to EUR 24.9 million in H1 2018
- Growth in all areas; especially significant revenue growth in the Services division by 69% to EUR 13.9 million compared to EUR 8.2 million in H1 2018
- EBITDA more than triples year-on-year to EUR 4.4 million
- Specification of FY 2019 revenue and earnings forecast at upper end of range
Würzburg, 14 August 2019. va-Q-tec AG (ISIN DE0006636681 / WKN 663668), a pioneer in highly efficient products and solutions in the thermal insulation and TempChain logistics area, today publishes its results for the first half of 2019. Accordingly, in the second quarter of the year, the company continued the dynamic growth of the first quarter. Especially in the high-margin Services business, the uptrend reported since the second half of 2018 has continued during the first half of 2019. Together with the efficiency gains achieved under the "Power 20+" program initiated in the previous year, this led to a significant jump in earnings before interest, tax, depreciation and amortization (EBITDA) to reach a level equivalent to 13% of total income.
Revenue in H1 2019 reported a marked increase of 26% to EUR 31.3 million (previous year EUR 24.9 million). Group revenue was driven to a very significant extent by the Services business - in other words, the container and box rental business. Thanks to ongoing diversification of the customer structure and the expansion of business with existing customers, the upswing of the previous quarters is continuing in this division. In terms of revenue, this is reflected in an increase of 69% over the previous year. As a consequence, EBITDA generated in the Services division rose from EUR 8.2 million in the previous year to EUR 13.9 million in the first six months of 2019. Revenues generated by the Products business compared with a strong equivalent period in 2018. At EUR 10.8 million, revenue in this area was stable compared with the previous year, reporting slight growth of 2%. In the Systems business, which is often influenced by large project orders in individual quarters, revenue increased by 5% to EUR 5.9 million (previous year EUR 5.6 million) as of the reporting date. For the second half of the year, va-Q-tec expects more significant revenue growth in the Systems business than in the first half.
Group EBITDA also performed very well. As part of the "Power 20+" program, initial efficiency improvements were achieved in areas such as purchasing and production at the beginning of the year. In addition to accelerated growth in the high-margin Services business, these effects contributed to the considerable earnings improvement in H1 2019. EBITDA tripled year-on-year to EUR 4.4 million (previous year: EUR 1.4 million). This led to an increase in the EBITDA margin as measured against total income from 4% in the previous year to 13% in H1 2019.
|Phone:||+49 (0)931 35 942 0|
|Fax:||+49 (0)931 35 942 10|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||856719|
|End of News||DGAP News Service|