DGAP-News STS Group AG emerges stronger from 2020 and publishes positive outlook for the 2021 financial year
DGAP-News: STS Group AG / Key word(s): Annual Report/Forecast
Hallbergmoos/Munich, April 7, 2021. STS Group AG (ISIN: DE000A1TNU68), a global systems supplier for the automotive industry listed in the General Standard of the Frankfurt Stock Exchange, today publishes its annual report, audited consolidated figures for the 2020 financial year and confirms the key preliminary figures from the publication of March 15, 2021.
Mathieu Purrey, CEO of STS Group AG: "Overall, we are very satisfied with the 2020 financial year, given the challenges posed by the COVID-19 pandemic. With the strategic measures implemented last year, we are now entering the future stronger. Thanks to the restructuring and the reduced net debt, STS has a solid basis for the targeted expansion."
2020 financial year - Strong fourth quarter after challenging first half-year
In the 2020 financial year, the Acoustics segment was classified as a discontinued operation and therefore presented separately. For better comparability, the previous year was also adjusted accordingly.
The 2020 financial year was essentially characterized by the global spread of the coronavirus pandemic, the associated worldwide economic shutdown and, in particular, the associated plant closures. The pandemic had a particular impact on the STS Group's market environment in Europe and Central and South America. The Chinese market, on the other hand, recorded strong demand in the commercial vehicle market. In this respect, the STS Group recorded a decline in turnover of 6.2% in the 2020 financial year. Consolidated revenue fell by 15.6 mEUR from 250.7 mEUR in 2019 to 235.0 mEUR in 2020. Compared to the previous year, the Plastics and Materials segments recorded a total revenue decline of 25.0%. In contrast, the China segment was able to generate a significant increase in sales of 68.5% in the reporting year.