CENTROTEC maintains growth; full-year forecast confirmed
Brilon, November 14, 2018: CENTROTEC Sustainable AG, Brilon, achieved revenue growth of 4.2% in the third quarter of 2018, taking it to a total of EUR 161.1 million (previous year EUR 154.6 million). In the first nine months of the current year, revenue consequently climbed by 4.4% to EUR 447.4 million (previous year EUR 428.4 million). The consolidated operating profit (EBIT) in Q3 came to EUR 11.5 million and was down 13.8% on the prior-year figure (previous year EUR 13.4 million), as was the cumulative result (EBIT), which declined by 3.3% to EUR 18.5 million (previous year EUR 19.2 million). Earnings per share (EPS) amounted to EUR 0.44 (previous year EUR 0.49) in the third quarter and EUR 0.50 (previous year EUR 0.62) over the year to date.
The measures kicked off in 2017 to strengthen the position in the German heating market continued to have positive effects and over the year to date produced growth in unit sales in a virtually flat market. The ongoing expansion of international business likewise made further progress in the third quarter. By contrast, the development in the field of combined heat and power (CHP) technology was much weaker than expected over the year to date, in the continuing absence of political decisions that would provide legal certainty and because the ambiguity surrounding financial incentives caused potential investors to shy away.
Overall, the business development to date has been in line with expectations and the full-year forecast can therefore be confirmed. For the full year, revenue is thus expected to lie in the upper half of the forecast range of EUR 600 to 620 million. On the other hand operating profit will probably be at the lower end of a forecast range (EUR 30 to 32 million) that was increased slightly from the prior-year level.
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.