Ad-hoc information: UET United Electronic Technology AG releases consolidated financial results for fiscal year 2016

• Revenues of 60.611mn EUR 
• EBITDA amounts to 5.483 mn EUR, EBIT 3.132 mn EUR
• Cash flow from operating activities amounts to 2.287 mn EUR
• UET postpones the annual shareholder meeting to October 2017

 

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases its financial results for fiscal year 2016. 

Consolidated revenues of the UET Group declined slightly in the fiscal year 2016 and amounted to a total of 60.611 mn, 5% below the previous year. 

In 2016 the UET Group generated an EBITDA (earnings before interest, taxes, depreciation and amortization) of 5.483 mn EUR (previous year: -1.728 mn EUR). Earnings before interest and taxes (EBIT) were also positive and amounted to 3.132 mn EUR (previous year: -3.947 mn EUR). 

Consolidated results totaled in a net profit of 2.550 mn EUR (previous year: -1.177 mn EUR) over the course of the year. The reported results included earnings from effects as a result of the repurchase of liabilities from shareholder loans. 

Under the consideration of minority interests on the consolidated result, the attributable result per share to the shareholders of UET AG is 0.25 EUR for the fiscal year 2016 (previous year: -0.07 EUR). 

As a result of the improved period results of UET Group, the cash flow from operating activities in fiscal 2016 created a positive value of 2.287 mn EUR (previous year:-3.933 mn EUR). Cash and cash equivalents in the Group amounted to 0.774 mn EUR as of December 31st 2016. 

Liquidity Cash management and financing of the Group remain challenging and essential for the further development of the company. 

The annual financial statements and the consolidated financial statements were audited by the auditors. However, the final reports are not yet available and have not yet been approved by the Supervisory Board. 

For this reason, the company is publishing a provisional annual group report and submits the final and approved annual report at a later point of time. The annual general shareholder meeting will be postponed to October 2017. The exact date will be announced in due course. The postponement of the publication of the final annual report and thus of the ordinary shareholder meeting is a result of the ongoing and required final coordination between the company and the auditors, although this does not apply to the consolidated financial results published with this announcement. 

In the meantime, the structural and capital projects under implementation are being continued. 

The provisional UET annual group report 2016 (German version only) will be released on the company’s website (www.uet-group.com) under Investor Relations/Financial reports on July 24th 2017.