Ad hoc release
va-Q-tec adjusts FY 2017 revenue and earnings forecast
Würzburg, 15 November 2017. va-Q-tec AG (ISIN DE0006636681 / WKN 663668) is adjusting its revenue and earnings forecast for the 2017 financial year. va-Q-tec expects 2017 revenue growth between 28% and 32% year-on-year (previous forecast: 35% - 40%). For earnings before interest, tax, depreciation and amortisation (EBITDA), the company anticipates an increase compared with the previous year's adjusted EBITDA (previous forecast: continued strong growth). During the first nine months of 2017, the company achieved 42% year-on-year revenue growth. In the current fourth quarter of 2017, too, the Management Board expects the company to achieve revenue growth compared with a particularly strong Q4 2016, albeit only in the single-digit percentage range. Various operative reasons are leading to revenue shifts in a low single-digit amount in millions of euros in the current fourth quarter of 2017, thereby hampering faster growth. The on-boarding process for two major customers in the Services business has proved more time-consuming than expected. They are not expected to generate significant revenues in the fourth quarter of 2017 as a consequence. Considerable revenue shifts into the 2018 financial year also arise because of one major customer's decision to prospectively purchase a box fleet in 2018, rather than in the fourth quarter of 2017 as originally planned. Additional revenue shortfalls occurred in Q4 2017 due to the extraordinarily severe hurricane damage in Puerto Rico, preventing the network station there from fulfilling numerous service contracts. One major pharmaceuticals customer receives its container services out of Puerto Rico. The network station is to resume normal operations during the course of this quarter according to current estimates.
Information about the calculation of EBITDA and adjusted EBITDA is presented on page 46 of the 2016 annual report, which is available on our website at www.va-q-tec.com/en/.
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IR contact
va-Q-tec AG
Felix Rau
Telephone: +49 931 35942 - 2973
Email: Felix.Rau@va-Q-tec.com
cometis AG
Claudius Krause
Telephone: +49 611 - 20 585 5-28
Email: krause@cometis.de
About va-Q-tec
va-Q-tec is a leading supplier of high-performance products and solutions in the area of thermal insulation and cold chain logistics. The company develops, produces and markets innovative, thin vacuum insulation panels (VIPs) as well as phase change materials (PCMs) for the reliable and energy-efficient controlling and insulation of temperature. In addition, va-Q-tec produces passive thermal packaging systems (containers and boxes) through optimally integrating VIPs and PCMs, which can maintain constant temperatures, depending on type, between 24 and more than 200 hours, without external energy input. To implement temperature-sensitive logistics chains, va-Q-tec - within a global partner network - operates a fleet of rental containers and boxes meeting demanding thermal protection standards. Along with healthcare & logistics as the main market, va-Q-tec addresses the following further markets: Appliance & Food, Technics & Industry, Building and Mobility. The high-growth company, which was founded in 2001, is based in Würzburg, Germany. Further information is available at: www.va-q-tec.com
15-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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