CENTROTEC SE: Successful first half year despite Corona Pandemic; Annual forecast 2020 confirmed
Brilon, July 17, 2020: The positive development of CENTROTEC SE during the first quarter continued in the second quarter, despite the Corona pandemic. Based on the preliminary figures CENTROTEC increased its consolidated revenue slightly to EUR 156,0 million (previous year EUR 152,5 million).
The operating result (EBIT) increased from EUR 4,1 million to EUR 7,7 million. The Corona-caused substantial downturn in many international sales markets, such a France, Spain, Italy and the U.S.A. have been compensated by a generally robust development of the home sales market in Germany and The Netherlands.
In addition, the considerable reduction of travel- and business expenses due to pandemic restrictions, along with reduced marketing and trade fair costs have had a substantial positive impact on the development of the results. Consequently, CENTROTEC increased its consolidated revenue during the first half year 2020 by 7,6% to EUR 322,3 million (previous year EUR 299,7 million). The operating result (EBIT) of the group reached EUR 16,7 million (previous year EUR 8,1 million). On the contrary, the financial result remained noticeable lower at minus EUR 6,6 million than the financial result of EUR 1,7 million in the previous year. The complete half year report will be published on August 13, 2020.
Based on the development of the results, CENTROTEC currently expects, that the conditional annual forecast 2020, with consolidated revenues of EUR 670 to 690 million and an operating result (EBIT) of EUR 34 to 36 million might be achieved or even exceeded, if no further substantial impairment of the markets materializes due to a second Corona wave during autumn. The latter continues to pose a serious risk in a generally fragile market environment in Europe.
Notwithstanding the foregoing, CENTROTEC expects a stabilization of the situation in national and international markets during the second half of 2020. However, particularly towards the end of the year and during the next year the market for air-handling units in the commercial sector will be negatively impacted by the general downturn in the building sector.
CENTROTEC SE enjoys a presence in around 50 different countries through subsidiaries and sales partners. The principal group companies are Wolf, Brink Climate Systems and Ned Air in the Climate Systems segment, specialising in heating, climate control and ventilation technology e.g. in the form of solar thermal systems, CHP units and home ventilation systems with heat recovery, as well as Ubbink and Centrotherm in the Gas Flue Systems segment, with their focus on gas flue and air piping systems. CENTROTEC is consequently Europe's only listed full-service provider of heating and climate control technology, solar thermal systems and energy-saving solutions for buildings.
CENTROTEC SE, Am Patbergschen Dorn 9, D-59929 Brilon, Germany
ISIN: DE0005407506, WKN: 540750, home stock exchange: Frankfurt/ Main; indices: Prime All Share, Prime Industrial
For further information, contact:
CENTROTEC SE, Carsten Vogt, Manager Investor Relations, Tel.: +49 (0)2961 96631-103