DGAP-News

Deufol SE: Half-year result - Strategic orientation bears fruit even during the Coronavirus pandemic - Seite 2

There were no material changes in the scope of consolidation. Changes in currency exchange rates did not affect the numbers.
 

Increased operative result for the period

The operative result (EBITA) amounted to € 3.8 million, compared to € 3.1 million in the first six months of 2019. Despite challenging economic circumstances, Deufol was able to stabilize its operational profitability. However, the increasing operational result in 2020 was mainly caused by a one-off transaction where Deufol sold one of its European properties and made a considerable profit. Without this effect, Deufol's operative result would be lower than last year's EBITA.

The result for the period decreased to € 1.4 million after € 2.0 million in prior year. After adjusting the non-controlling interests, the net profit for the Shareholders of Deufol SE was at € 1.5 million, after € 2.0 million in prior year's period. Due to this trend, the earnings per share decreased from € 0.046 in 2019 to € 0.034 in 2020.

Increased operational cash flow and slightly reduced balance sheet total
The operative cash flow of the Deufol-Group amounted to € 10.9 million and was above prior year's level (€ 9.4 million). Due to high investments into our new site in Hungary, liquid funds decreased to € 26.2 million after € 31.6 at the end of 2019. Deufol reduced its balance sheet total by € 0.9 million to € 266.8 million. The equity total increased by € 1.4 million to € 114.2 million. Accordingly, the equity ratio grew from 42.1% at the end of 2019 to 42.8% at the end of June 2020.

Overview of the first 6 months:

Figures in € Thousand	6M 2020	30.6.2020	6M 2019	31.12.2019	Change (%)
Sales	106,397		128,185		-17.0
EBITDA	14,564		13,211		-10.2
EBIT(A)	3,770		3,063		23.1
EBT	2,771		2,065		34.2
Result for the period	1,403		1,975		-29.0
Thereof noncontrolling interests	-65		-41		-58.5
Thereof shareholders of the parent company	1.468		2,016		-27.2
Earnings per share (€)	0.034		0.046		-26.1
Cashflow from operating activities	10.915		9,399		16.1
Cashflow from investing activities	-5,829		-520		n/a
Net financial liabilities		69,926		68,525	2.0
Equity ratio (%)		42.8		42.1	1.7
Employees		1,980		2.170	-8.8

 

Confident outlook despite the economic uncertainty associated with the Coronavirus pandemic