DGAP-News

MAX Automation SE reports stable first quarter of 2021 - Seite 2

Due to corona-related delays in project completions at the beginning of the year, MAX Group's sales were 11.8% below the level of the same quarter of the previous year at mEUR 70.8 (3M 2020: mEUR 80.2) and thus below management's expectations. Process Technologies reflected strong order intake in dispensing technology and strong service business, with sales up 15.8% to mEUR 13.9 (3M 2020: mEUR 12.0). In the Environmental Technologies segment, corona-related project postponements in the United States were reflected in an 18.7% decline in sales (3M 2020: mEUR 29.6). At mEUR 26.7 (3M 2020: mEUR 27.1), sales in the Evolving Technologies segment were slightly below the level of the first three months of 2020; here, too, corona-related project delays prevented an increase in these figures. Sales in the Non-Core segment declined by 44.9% (3M 2020: mEUR 12.1) as a result of the discontinuation of new business at the IWM companies. Stricter quarantine regulations in China delayed ELWEMA's project business, therefore sales in the first three months in 2021 were below the comparable level of the previous year.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) of mEUR 3.6 (3M 2020: mEUR 0.6) were above last year's figure and management's expectations. Non-cash special effects from the release of provisions and rental liabilities also contributed to this. Due to increased project sales as well as cost savings, EBITDA of the Process Technologies segment rose more strongly than expected by 66.5% (3M 2020: mEUR 1.1). Despite the decline in sales, Environmental Technologies also posted an 8.9% increase in EBITDA (3M 2020: mEUR 2.9). Earnings in this segment were positively influenced by the release of a major provision as well as lower expenses for sales activities due to the pandemic. Due to higher expenses in the Robotics division, EBITDA for the Evolving Technologies segment was down significantly by EUR 2.4 million (-90.7%) compared to the previous year to just EUR 0.2 million (3M 2020: EUR 2.6 million). In the Non-Core segment, EBITDA improved compared to the first three months of 2020 to a positive result of mEUR 0.4 (3M 2020: mEUR -3.8). Here, the result was significantly improved by the termination of a long-term lease agreement and the sale of the IWM Automation GmbH property in Porta-Westfalica.