EQS-Adhoc Adval Tech defies difficult conditions and achieves a clearly positive annual result in 2020
EQS Group-Ad-hoc: Adval Tech Management AG / Key word(s): Annual Results
2020 annual financial statements
Niederwangen, March 26, 2021, 7:00 a.m. - Under very difficult conditions, the Adval Tech Group has held up excellently in the coronavirus year 2020 and achieved an EBIT margin of 4.8% (previous year: 5.8%). It achieved total income1) of CHF 140.8 million (previous year: CHF 178.9 million, -21.3%), EBITDA2) of CHF 15.2 million (previous year: CHF 18.4 million, - 17.7%) and EBIT3) of CHF 6.7 million (previous year: CHF 10.3 million, -34.4%). Net profit for 2020 was CHF 4.3 million (previous year: CHF 8.7 million, -50.3%). The significant improvement at all levels in the second half of 2020 makes Adval Tech particularly confident.
The coronavirus pandemic has dealt a major blow to the automotive and automotive supply industries. And this at a time when they are undergoing a difficult transformation process. Technical, social and economic developments have fundamentally affected demand and the buying behavior of market participants.
Adval Tech had set itself the following objectives for 2020: to maintain its financial room for maneuver, to complete the newly acquired projects in the required quality, within the agreed time and within the calculated costs, to maintain supply capacity and flexibility vis-à-vis customers, to win new orders from the automotive industry and to drive forward business with high-speed presses and components outside the automotive industry. Adval Tech met all these targets in this exceptional year.
Market development and market success
Despite a difficult environment, Adval Tech succeeded in acquiring new, promising orders also last year. In the metals sector, the cooperation with a leading European premium automotive manufacturer launched in spring 2018 was further expanded. In the year under review, Adval Tech received additional orders for structural components that are scheduled to go into production in 2022. At its sites in Germany and Hungary, for example, Adval Tech will produce metal parts for an electric sports car and an electric sedan from 2022.