DGAP-News

MAX Group: Record level order backlog offset by lower sales and earnings

DGAP-News: MAX Automation AG / Key word(s): 9-month figures
MAX Group: Record level order backlog offset by lower sales and earnings

14.11.2016 / 07:52
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PRESS RELEASE

MAX Group: Record level order backlog offset by lower sales and earnings

- 11.5% increase in incoming orders to EUR 296.9 million

- Order backlog increases by 24.6% to a record level of EUR 197.3 million

- Market-related influences in the Environmental Technology segment lead
to lowering of the forecast for 2016 as a whole

- The order situation offers an excellent starting point for the business
to develop positively in 2017

Düsseldorf, November 14, 2016 - The MAX Group achieved dynamic order intake
in the first nine months of the year and a record level order backlog at
the end of the third quarter. Incoming orders for the company that
specializes in high-tech mechanical engineering rose significantly by 11.5%
to EUR 296.9 million (Q1-Q3 2015: EUR 266.4 million). This development was
supported by a very buoyant development of the business in the Industrial
Automation segment. New orders amounted to EUR 94.0 million in the third
quarter, which means that the strong performance in the second quarter
continued. The order backlog reached the record level of EUR 197.3 million
as of September 30, 2016, an increase of 24.6% compared to the value on the
same reference date of the previous year (EUR 158.4 million).

The very good order situation was offset by a decline in sales and earnings
in the first nine months of the current year. Group sales for the period
January to September declined by 12.1% from EUR 266.5 million to EUR 234.4
million compared to last year. Adjusted for the contribution of the Group
company altmayerBTD, which was sold in December 2015, sales declined by
7.9%. Consolidated earnings before interest and taxes (EBIT) and before
depreciation from purchase price allocation (PPA) declined from EUR 15.1
million to EUR 9.6 million. This figure includes negative currency effects
of EUR 1 million. Net interest income improved by EUR 0.9 million due to
the reorganization of Group financing in 2015. As a result, the reduction
by up to EUR 1.0 million, which was the goal for the year as a whole, was
almost achieved.



Development of the segments
The Industrial Automation segment increased its order intake quite
significantly by 38.9% to EUR 237.6 in the first nine months of 2016. The