EQS-Adhoc Adval Tech is well equipped for ongoing coronavirus crisis and upheavals in the automotive industry
EQS Group-Ad-hoc: Adval Tech Management AG / Key word(s): Annual Results
Niederwangen, April 27, 2021, 7.00 a.m. - With net profit of CHF 4.3 million and EBIT1) of CHF 6.7 million, the Adval Tech Group performed quite well in the exceptionally difficult 2020 financial year. As already stated on March 26, 2021, the group posted total income1) of CHF 140.8 million in 2020 (previous year: CHF 178.9 million) and EBITDA1) of CHF 15.2 million (previous year: CHF 18.4 million). Adval Tech is well equipped to successfully manage the high number of production start-ups in 2021 at the various sites, also under more difficult conditions. At the Annual General Meeting on May 20, 2021, the Board of Directors will propose a dividend of CHF 1.35 per share.
With targeted measures, the Adval Tech Group 2020 succeeded in achieving a positive result for the year even under the very difficult circumstances and in securing liquidity at all times. Adval Tech managed all newly acquired projects in the required quality, within the agreed time and within the calculated costs. In addition, the Group also won new orders from the automotive industry and at the same time drove the technology business (sale of high-speed presses) and the components business for related applications in the consumer goods industry and medical technology.
In 2020, the Adval Tech Group posted total income1) of CHF 140.8 million (previous year: CHF 178.9 million, -21.3%). Adjusted for currency effects, total income1) for 2020 was some 17% below the previous year.
Adval Tech was able to compensate the decrease in sales from the sale of components for the automotive industry to some extent with new orders from the technology business of Adval Tech (Switzerland) AG. The sales trend at Adval Tech (Grenchen) AG, which manufactures components for the medical technology and consumer goods sectors, was also encouraging. This also applies to Adval Tech (Malaysia) Sdn. Bhd., which likewise operates in the consumer goods industry.