DGAP-News: Consolidated financial statements of Ringmetall AG without material deviations from preliminary figures

Consolidated financial statements of Ringmetall AG without material deviations from preliminary figures

- Group revenues of EUR 110.6 million in the upper half of forecast range
- aEBITDA of EUR 12.2 million, slightly below expectations
- Deviations mainly result from the interpretation of IFRS accounting guidelines

Munich, 30 April 2019 - Die Ringmetall AG (ISIN: DE0006001902), a leading international specialist supplier in the packaging industry today presented its audited consolidated financial statements for 2018. Deviations from the preliminary figures of 7 March 2019 were mainly due to the amount of one-time special effects and their recognition in accordance with IFRS accounting guidelines.

Accordingly, Group revenues in the financial year 2018 rose by 8.0 percent to EUR 110.6 million (2017: EUR 102.4 million) and thus reached the upper half of the forecast range of EUR 108.0 to 112.0 million. The Industrial Packaging division accounted for revenues of EUR 97.4 million (2017: EUR 88.3 million), representing a share of 88.0 percent of total revenue (2017: 86.3 percent). Of the Group's revenues, EUR 35.0 million (2017: EUR 34.3 million) was attributable to Germany and EUR 75.6 million (2017: EUR 68.1 million) to foreign countries. The increase in the Industrial Packaging segment resulted by 3.6 percentage points or EUR 3.2 million from acquisition effects, by 3.4 percentage points or EUR 3.0 million from the effects of steel price developments and by 3.2 percentage points or EUR 2.8 million, from organic growth. At EUR 13.2 million, the Industrial Handling segment accounted for slightly less of total revenues than in the previous year (2017: EUR 14.1 million), while the revenue development was almost entirely driven by the organic development of the segment.

At EUR 10.4 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were 13.4 percent below the previous year's level (2017: EUR 12.0 million). As previously communicated, there were a number of non-operating one-off expenses in the year under review, which negatively impacted the result. These include the costs for the conversion of Group accounting from HGB to IFRS, for the preparation of a securities prospectus and for the related change of the stock market segment. There were also one-off expenses related to the closure of the Sessenhausen site and the associated relocation of production to other sites, as well as commissions incurred by Nittel for M&A consultants and other external consultants.

The key performance indicators for the business year 2018 are as follows:

* Gross profit defined as: revenues including inventory changes less expenses for raw materials, supplies and purchased services

The Management Board of Ringmetall AG acknowledges the increasing deterioration in sentiment in various sectors of the economy with due respect, even though only slight recessionary tendencies are currently evident in the course of business operations. "The current development of sales and the order situation in the first quarter shows that we will expect more headwinds overall in 2019", explains Christoph Petri, Spokesman of the Management Board of Ringmetall AG. "At the same time, however, we continue to see ourselves well positioned and keep close contact with our customers and representatives of the customer industries."

The outlook for the 2019 financial year will initially be within a wider range than usual and will be specified in the further course of the year. As already communicated, the Executive Board expects consolidated sales of between EUR 120.0 and EUR 130.0 million and EBITDA of between EUR 12.0 and 14.0 million. This already includes a scenario based on a slight decline in steel prices. In addition, the revenue and earnings contribution of Nittel Halle GmbH, which was consolidated for the first time on January 1, 2019, is included. Possible effects from planned company acquisitions are not part of the forecast.

The complete Annual Report 2018 is available for download on the company's website at http://ringmetall.de/investor-relations/finanzberichte/.

Contact:
Ingo Middelmenne
Investor Relations
Ringmetall AG
Phone: +49 (0 )89 45 220 98 12
Mobile: +49 (0 )174 90 911 90
Email: middelmenne@ringmetall.de

About Ringmetall Group

Ringmetall is a leading international specialist in the packaging industry. The Industrial Packaging business offers high-security closure systems and inliners for industrial drums for the chemical, petrochemical, pharmaceutical and food processing industries. The Industrial Handling business unit develops application-optimized vehicle components for the handling and the transport of packaging units. In addition to the group headquarters in Munich, Ringmetall has worldwide production and sales offices in Germany, France, Great Britain, Spain, Italy, Turkey, the Netherlands, China and the USA. Ringmetall generates over EUR 120 million in revenues worldwide.