- Consolidated revenues of 39.026 mn EUR
- EBITDA amounts to 6.522 mn EUR
- Earnings per share of 0.29 EUR
- Cash flow from operating activities amounts to 3.727 mn EUR
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases its financial results for the fiscal year 2018.
Consolidated revenues of the UET Group amounted to EUR 39.026 million in the financial year 2018. (Previous year: EUR 47.635 million). The decline resulted from the sale of the MANUFACTURING division as of May 2018 and the reduction of product areas in the core business of SYSTEMS. SERVICE and ENGINEERING were able to increase sales slightly.
For the 2018 financial year, the UET Group reports EBITDA (earnings before interest, taxes, depreciation and amortization) in the amount of EUR 6.522 million (Previous Year EUR 1.784 million). Earnings before interest and taxes EBIT amounted to EUR 4.574 million (previous year: EUR -0.270 million).
Starting in the financial year 2018, the UET Group will make use of the balance sheet option and will transfer part of its research and development to intangible assets. For 2018, EUR 3.545 million has been capitalised and will be depreciated in the following years. The result for the year includes one-time effects from the de-consolidation in the MANUFACTURING division.
The result attributable to the shareholders of UET – taking into account minority interests in consolidated net income in 2018 – amounts to EUR 0.29 per share (previous year: EUR -0.18).
UET’s equity improved by EUR 10.211 million as of 31 December 2018 to EUR 1.161 million. As a result, the position of the amount not covered by equity, which had existed since 2011, has been completely eliminated. The improvement in equity includes, in addition to the operating result, the completed capital increase through a contribution in kind (49 % of the shares in UET Electronic Holding GmbH) in the amount of EUR 3.0 million.
Cash flow from operating activities increased from EUR 1.890 million in the previous year to EUR 3.727 million. At the end of the 2018 financial year, cash and cash equivalents in the Group totaled € 0.585m. EUR (previous year: EUR 2.518 million).
The Annual General Meeting will take place on 22 August 2019 in Eschborn. The invitation to the Annual General Meeting will be published in the German Bundesanzeiger by 15 July 2019.
The annual report and the annual group report 2018 (German version only) will be released on the company’s website (www.uet-group.com) under Investor Relations/Financial as of today.
UET United Electronic Technology AG
Frankfurter Straße 80-82
Tel: + 49 (0) 6196 777755-0