CENTROTEC sees revenue and earnings grow despite weakening economy; carbon emissions debate expected to unsettle market
Brilon, August 14, 2019: CENTROTEC Sustainable AG, Brilon, increased its revenue for the first half of 2019 by 4.7% to EUR 299.7 million (previous year EUR 286.4 million). All three segments enjoyed revenue growth. The biggest increase was achieved by the Climate Systems segment. The operating result (EBIT) for the Group was improved by 15.6% to EUR 8.1 million (previous year EUR 7.0 million), bearing in mind that the first half is typically weaker in this industry. Earnings per share (EPS) rose to EUR 0.43 (previous year EUR 0.06), supported by the much-improved financial result at the balance sheet date compared with the weak previous year.
This growth was achieved against the backdrop of initial identifiable effects of an economic slowdown. No reliable estimate can be made yet of how far the weakening economy is already adversely affecting the propensity to invest in modernisation measures, and therefore the sales market performance in the forthcoming heating season. On the other hand the emerging public debate on climate policy, such as the recent discussion of scrappage bonuses for oil heating systems, is very likely to unsettle those looking to update their systems and therefore to seriously undermine the German sales market in the autumn. The positive performance in the first half of 2019 nevertheless enables us to confirm the revenue and earnings growth expected for the year as a whole, to EUR 620 to 640 million and EUR 31 to 33 million respectively.
CENTROTEC Sustainable AG
CENTROTEC Sustainable AG 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.