DGAP-News

STS Group AG publishes half-year report 2022 - Positive development in Europe overshadowed by corona-related decline in China

DGAP-News: STS Group AG / Key word(s): Half Year Report STS Group AG publishes half-year report 2022 - Positive development in Europe overshadowed by corona-related decline in China 08.08.2022 / 07:30 The issuer is solely responsible for the content of this announcement. STS  Group AG publishes half-year report 2022 - Positive development in Europe overshadowed by corona-related decline in China

• Sales revenue down to 117.4 mEUR (H1/2021: 134.8 mEUR) in a still challenging market environment
• Corona-related sales revenue decline in China of around 70.6% in H1/2022 cannot be fully compensated by sales revenue growth in Europe (plus 25.0%)
• EBITDA falls to 2.9 mEUR (H1/2021: 13.8 mEUR)
• Cash and cash equivalents increased to 30.5 mEUR (31 December 2021: 28.3 mEUR)
• Forecast 2022 still characterised by generally difficult-to-predict market development

Hagen, 8 August 2022 - STS Group AG (ISIN: DE000A1TNU68), a global systems supplier for the automotive industry listed on the General Standard of the Frankfurt Stock Exchange, today publishes its half-year report 2022.

Alberto Buniato, CEO of STS Group AG: "The business development of STS Group in the first half of 2022 was characterised by a corona-related stop in demand in the core market China. In contrast, the Plastics and Materials business in Europe developed positively with an increase in sales revenue of around 25%. In addition, we were able to create synergies for our business in Mexico together with our new strategic investor, the Adler Pelzer Group. Despite the imponderables of a market environment that is currently difficult to predict, we remain optimistic about our long-term strategic growth trend. Despite the temporary setback, we are fundamentally positive about China and in the reporting period we have kept our structures in place for the expected market ramp-up of the customer call-offs in the second half year in order to be able to quickly adjust capacities. We are also continuing to work with high intensity on the expansion of the business in the North American market, which will also offer our Group clear potential for future growth."