DGAP-News: Deufol SE: Annual Results 2018

PRESSEMITTEILUNG

Deufol SE: Annual Results 2018

- Sales EUR 265.1 m (Prior Year EUR 287.7 m)

- EBITDA EUR 18.8 m EUR (Prior Year EUR18.9 m)

- EBIT(A) EUR 9.8 m (Prior Year EUR 9.3 m)

- EAT EUR 3.8 m (Prior Year EUR 5.6 m)

- Operating Cashflow EUR 16.9 m (Prior Year EUR 12.9 m)

- Net Financial Liabilities EUR 34.1 m (Prior Year EUR 44.2 m)

- Proposed Dividend Payment: 6 Cent per Share

Hofheim am Taunus, April 30 2019

Sales Trend - Lower than original budget
In 2018 Deufol Group continued focusing on Export & Industrial Packaging. Regardless of this realignment, sales decreased from EUR 288 m in 2017 to EUR 265 m in 2018. This is a drop of 7.9%. Sales for 2018 are slightly below our original budget which was included in our annual financial report of 2017. This budget included sales between EUR 275 m and EUR 290 m.

Operating Result (EBITDA) - Budgeted target achieved
The operating result before depreciation and amortization (EBITDA) amounts to EUR 18.8 m in 2018. Prior Year was EUR 18.9 m. The EBITDA-Margin reached 7.1 % (prior year 6.3 %). Depreciation and amortization add up to EUR 9.0 m, which is lower than 2017 (EUR 9.6 m). The operating result (EBITA) accounts for EUR 9.8 m (prior year EUR 9.3 m). This led to an EBITA-Margin of 3.7 % in 2018 and 3.1 % in 2017.

Net Financial Liabilities considerably reduced - Cashflow higher than prior year
Financial Liabilities of the Deufol Group add up to EUR 63.8 m and are nearly unchanged compared to prior year despite several repayments and additions of new loans. Net financial liabilities, defined as the total of financial liabilities less financial receivables and cash, have considerably decreased from EUR 44.2 m at December 31 2017 to EUR 34.1 m at the end of 2018. The total of liabilities due to banks less cash and cash equivalents adds up to EUR 30.5 m (prior year EUR 41.3 m).

The operating cashflow amounts to EUR 16.9 m in 2018 and is therefore clearly higher than prior year's cashflow (EUR 12.9 m).

Proposed appropriation of profits

The Board of Directors proposes the distribution of an amount of EUR 0.06 per share out of the net income of Deufol SE. This will result in a dividend in the amount of EUR 2.6 m. The remaining accumulated profits in an amount of EUR 12.1 m. is to be carried forward.

Key Data of 2018

Outlook
For the fiscal year 2019, Deufol Group plans to achieve sales between EUR 270 m and EUR 290 m. The operating result (EBITDA) should amount between EUR 15.5 m and EUR 17.5 m.

Sales should slightly increase in the regions Germany and USA/ Rest of the World compared to 2018. For the region Rest of Europe we are expecting considerably increasing sales which are also linked to corresponding investments into new markets.

With regards to operating results, we expect in our German core market slightly improved results back on the level of prior years. All the productivity increasing measures implemented in the last years should be beneficial if economy stays stable. Due to one-off effects in 2018 we do not expect results on this year's level in the region Rest of Europe. However, we expect operating results to be higher than the years prior to 2018. For the region USA/ Rest of the World we expect slightly increased results due to stabilized sales.

From today's viewpoint, the operating business of the Deufol Group does not need new additional financing resources. The current financial resources are sufficient to meet payment obligations at any time. However, our growth in the region Rest of Europe will be accompanied by new external financing.

The Annual Financial Report in German is available on the internet at http://www.deufol.com. The English version will be available within the next 2 weeks.

For further information, please contact:
Deufol SE
Claudia Ludwig
Phone: +49 (6122) 50 1228
E-Mail: Claudia.Ludwig@deufol.com

ISIN: DE000A1R1EE6