DGAP-News

Petro Welt Technologies AG: HY1 2020 results of Petro Welt Technologies AG: Improvements in operations and efficiency despite volatile economic and industrial environment - Seite 2

At EUR 22.4 million, the cash flow from operating activities in the reporting period increased by 9.3% year on year. Thanks to the growth in its operating activities, the Group thus was able to hold operating cash flow steady despite worsening payment conditions related to extended payment terms.

The managerial liquidity position containing bank deposits, cash, and cash equivalents was EUR 137.9 million as of June 30, 2020, down by 4.2% compared with the position as of December 31, 2019.

In light of the risk of a continued decline in the number of customer orders, which has been partly evident in August, as well as the remaining probability that both the Russian ruble and the Kazakhstan tenge will see further devaluations, we lowered our forecast for Group revenue for the 2020 fiscal year from between EUR 278 and EUR 285 million to between EUR 275 and EUR 282 million. The Group hopes to keep the EBITDA margin between 16% and 16.5%, as stated earlier.

Key positions		HY1 2020	HY1 2019	+/-
Revenue	EUR million	154.0	136.9	12.5%
EBITDA	EUR million	29.1	23.4	24.4%
EBIT	EUR million	13.0	4.2	209.5%
EBITDA margin		18.9%	17.1%
EBIT margin		8.4%	3.1%
Group result	EUR million	8.3	3.5	137.1%
Earnings per share	EUR	0.17	0.07	137.1%
Equity1	EUR million	224.0	254.3	(11.9%)
Cash flow from operating activities	EUR million	22.4	20.5	9.3%

¹ As of June 30, 2020 and December 31, 2019 respectively