DGAP-News

Softing AG: Interim Statement on the 1st Quarter of 2021

DGAP-News: Softing AG / Key word(s): Quarterly / Interim Statement Softing AG: Interim Statement on the 1st Quarter of 2021 (news with additional features) 04.05.2021 / 08:30 The issuer is solely responsible for the content of this announcement. Dear Shareholders, Employees, Partners and Friends of Softing,

At times where the news is full of medical terminology, and restrictions on our freedom of movement are the order of the day, I am particularly pleased to be able to report some entirely good news.

In the first quarter of the year, Softing's revenue rediscovered its previous strength and earnings rose sharply. Consolidated revenue returned to pre-pandemic levels at EUR 20.1 million (previous year: EUR 20.0 million). Operating EBIT reached a highly satisfactory EUR 1.2 million (previous year: EUR 0 million), equivalent to three-quarters of the operating EBIT for the whole of last year.

EBIT amounted to EUR 0.4 million (previous year: EUR -0.7 million), which resulted in operating earnings per share of EUR 0.08 (previous year: EUR -0.06). Although these figures are still low in absolute terms, they represent a major step forward from the previous year for our traditionally weak first quarter. But the good news does not stop there. Incoming orders increased by EUR 3 million to EUR 24 million, providing a solid foundation for further development this year.

Our highly encouraging performance in the first quarter means that Softing has more than EUR 30 million in near-cash funds available at short notice. In addition to providing protection in what remains an extremely volatile environment, this also opens up new opportunities for inorganic growth. At Softing, we are keeping our eyes open and considering what could represent a good strategic and operational fit for the existing business.

Within our company's three segments, Industrial continued to lead the way on revenue and profit. At EUR 14 million, our revenue in this segment was almost exactly equal to the previous year's figure, while earnings increased by around 40 %.

While the Automotive segment ended the first quarter with revenue at a similar level to last year at around EUR 3.7 million, its earnings improved significantly. GlobalmatiX AG also succeeded in gaining new customers in the first quarter for field trials that are producing very promising results. The pipeline is well filled and will generate significant revenue during the current year.