CENTROTEC full-year forecast confirmed; further growth forecast
Brilon, February 6, 2019: CENTROTEC Sustainable AG, Brilon, generated revenue of EUR 615 million in the 2018 financial year (unaudited, previous year EUR 594.5 million). As clarified in-year, this was therefore towards the upper end of the forecast range of EUR 600 to 620 million. The indications are that the operating result (EBIT) will be at the lower end of the forecast range of EUR 30 to 32 million, as expected. The negative trend in the financial result continued in the fourth quarter, in a reflection of market conditions.
CENTROTEC plans further organic growth for the financial year in progress of 2019 and expects to generate consolidated revenue of EUR 620 to 640 million. Within this context the company anticipates further growth in its international sales markets and a continuing improvement in its position in the German heating market, building on the process that started in the previous year. The company will also invest further in the international expansion of business activities and the digitalization of its products and processes. On this basis, the company expects full-year EBIT amounting to EUR 31 to 33 million.
The audited financial statements and Annual Report for the 2018 financial year will be published on March 28, 2019.
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.