DGAP-News Francotyp-Postalia Holding AG: Profitability impacted by one-time effects in the 2020 financial year
DGAP-News: Francotyp-Postalia Holding AG / Key word(s): Change in Forecast
P R E S S R E L E A S E
Profitability impacted by one-time effects in the 2020 financial year
- Forecast for revenue and free cash flow confirmed
- EBITDA 2020 burdened by one-time effects
- Restructuring process initiated to streamline FP and accelerate growth of digital solutions
- 2021 will be a year of transformation
Berlin, 23. February 2021 - In the course of preparing the 2020 consolidated financial statements of Francotyp-Postalia Holding AG (ISIN DE000FPH9000), the forecast for revenue and free cash flow is confirmed. Earnings before interest, taxes, depreciation and amortization (EBITDA) would also have reached the expectations of EUR 24 to 28 million in operational terms, but will be negatively impacted by one-off effects.
These one-time effects are related to the focus on profitable growth and a streamlining of the corporate structure. Expenditures for restructuring measures amounting to approximately EUR 9 million are to be taken into account in the 2020 consolidated financial statements. Furthermore, a reengineering of the ERP/CRM project is required, necessitating derecognition of intangible assets in the amount of approximately EUR 7 million. As a result, operating EBITDA of approximately EUR 23 to 24 million before non-recurring items is expected and EBITDA of EUR 7 to 8 million is projected to be reported.
In addition, impairment losses on intangible and other assets of approximately EUR 2 million are expected to impact earnings before interest and taxes.
"We are looking ahead with focus and creating the conditions in 2021 to achieve sustainable and profitable growth for the company.", says Carsten Lind, Chairman of the Management Board. Especially in digital solutions, Carsten Lind wants to set the course for future growth.