DGAP-News

Ekotechnika AG reports positive operating performance for FY 2019/2020

DGAP-News: Ekotechnika AG / Key word(s): Annual Results Ekotechnika AG reports positive operating performance for FY 2019/2020 18.01.2021 / 10:00 The issuer is solely responsible for the content of this announcement. Ekotechnika AG reports positive operating performance for FY 2019/2020

• Group revenues climb to EUR 193.8 million (previous year: EUR 160.3 million)
• Noticeable increase in sales of new machines due to new sales territories
• Depreciation of the ruble has strong impact on earnings
• Operating result (EBIT) at EUR 5.6 million (previous year: EUR 11.3 million)
• Smart Farming segment to be further expanded in 2021

Walldorf, 18 January 2021 - Ekotechnika AG (Primary Market; ISIN: DE000A161234), the German holding company of the largest dealer of international agricultural machinery in Russia, increased its revenues by 21% to EUR 193.8 million (previous year: EUR 160.3 million) in the financial year 2019/2020 (30 September). In this context, the new John Deere sales territories led to a strong increase in the number of new machines sold. In the tractor segment, 245 machines were sold in the past financial year (previous year: 206), while sales of combines and forage harvesters even climbed from 62 to 117 machines. Consequently, revenues in the New Machinery segment increased to EUR 125.3 million in FY 2019/2020 (previous year: EUR 108.7 million). This represents 65% of total revenues (previous year: 68%).

Revenues in the Spare Parts segment also rose sharply from EUR 46.0 million in FY 2018/2019 to EUR 57.4 million in the reporting period (30% of total revenues). The Service segment generated revenues of EUR 4.5 million (previous year: EUR 3.8 million). Revenues in the Smart Farming segment climbed from EUR 0.9 million to EUR 1.3 million.

Gross profit increased by close to one third from the previous year's EUR 27.8 million to EUR 36.8 million. However, due to significant exchange rate effects resulting from the strong depreciation of the ruble in the course of the financial year, the operating result (EBIT) of EUR 5.6 million was clearly below the previous year's level (EUR 11.3 million). For the same reason, consolidated net profit also dropped sharply to EUR 1.7 million (previous year: EUR 7.0 million).