- Consolidated revenues amounted to 17.679 mn EUR
- Revenue growth of 2.206 mn EUR or +14% respectively
- Business areas SYSTEMS and MANUFACTURING with positive EBITDA
- Improved results in the area SERVICE
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases selected financial figures for the operating business units SYSTEMS, MANUFACTURING and SERVICE for the first quarter of 2016, from January 1st 2016 to March 31st 2016.
In the period from January to March of the fiscal year 2016, the operating companies and business units in the core business of the UET Group generated consolidated revenues of 17.679 mn EUR. This equates to an increaseof 2.206 mn EUR or 14% compared to the previous year. ALBIS Technologies AG, Zürich, a company that was first consolidated in March 2015, contributed to this result.
The business units SYSTEMS and MANUFACTURING generated positive earnings before interest, taxes, depreciation and amortization (EBITDA). Furthermore, the business unit SERVICE improved its operating result compared to the previous year. The following transaction values were presented based on the Bilanzrichtlinie-Umsetzungsgesetz (BilRUG). Excluding consolidation effects, the financial figures are presented as follows:
The business unit SYSTEMS generated quarterly revenues of 15.725 mn EUR (previous year 12.088 mn EUR), which equates to a growth of 30%. With a positive operating result for the business unit and improvement compared to end 2015, the EBITDA was 0.157 mn EUR (previous year 0.607 mn EUR). The EBIT amounted to -0.367 mn EUR (previous year 0.242 mn EUR).
After reducing the expenses for research and development, which was accompanied by a downsizing in personnel, the focus is now on international market development. In addition to that, new business models are refined and their integration will be continued. Overall, the market environment remains challenging in the short-term, but medium to long-term plans are growth and increase in profits.
The business unit MANUFACTURING posted revenues of altogether 4.025 mn EUR and was hence 18% below the same quarter of the previous year. The EBITDA amounted to 0.031 mn EUR (previous year 0.223 mn EUR) and the EBIT to 0.009 mn EUR, which therefore decreased by 0.191 mn EUR compared to the previous year’s period. Due to ongoing optimization an increase in profits is planned for the business unit MANUFACTURING in quarter two.
The business unit SERVICE registered revenues worth 0.375 mn EUR in the first quarter 2016 and hence remained slightly below the previous year’s level (0.400 mn EUR). The operating result could be increased. Even though EBITDA as well as EBIT were negative with -0.013 mn EUR and -0.014 mn EUR, they improved by each 0.070 mn EUR compared to the previous year. For the second quarter we expect a positive profit contribution.
The reported financial figures do not include a consolidation of the UET holding companies.
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UET United Electronic Technology AG
Frankfurter Straße 80-82
Tel: + 49 (0) 6196 777755-0