DGAP-News
Softing AG: Q3 2016 Statement
DGAP-News: Softing AG / Key word(s): Quarterly / Interim Statement
Softing AG: Q3 2016 Statement
02.11.2016 / 13:01
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Softing AG: Q3 2016 Statement
02.11.2016 / 13:01
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Revenue for the first nine months up slightly on previous year
EBIT down on year-on-year as expected
Guidance for the year confirmed
Dear Shareholders, Employees,
Partners and Friends of Softing AG,
In the third quarter of 2016, Softing largely compensated for weaker sales
in the US market by significantly growing the business in Europe and Asia.
Third-quarter revenue stood at EUR 20.5 million, almost matching the
previous year's figure of EUR 20.8 million. As expected, EBIT was impacted
by an absence of extremely high-margin orders in the US market, despite
good earnings performance in other regions. EBIT for the quarter amounted
to EUR 1.0 million (previous year: EUR 1.6 million), with operating EBIT of
EUR 1.1 million (previous year: EUR 2.3 million) more severely affected by
extensive new developments.
Sales for the first nine months of the year increased to EUR 58.9 million
(previous year: EUR 57.3 million), while EBIT declined to EUR 2.5 million
(previous year: EUR 3.1 million). Cash holdings increased by almost EUR 2
million to EUR 8.4 million, thanks in part to strong cash flows in the
current year.
The underlying trend of the first half of the year continued in the third
quarter. While we continue to see improvement in the US business, the
economy has not yet recovered to the record levels of the previous year.
Nevertheless, we are optimistic about the prospects for 2017 and beyond.
The company received the first major order for a new customer during the
third quarter, while another customer is expected to decide in favor of
Softing products in the fourth quarter. The new business expected from this
has the potential to shape the development of the US business for years to
come.
Softing IT Networks GmbH increased revenue significantly in the third
quarter and the development of the business is peaking during the current
fourth quarter. In Europe, we have been focusing on considerably
intensifying our business and were able to strengthen our team with
outstanding new staff in several roles that will be key to our success. We
are also continuing to expand our product portfolio with new devices.
Although this generates costs in the short term, it will also fuel our
growth over the next few years.
The Automotive segment continued to improve its visibility and positioning
in the heavy duty diesel market during the third quarter. We participated
EBIT down on year-on-year as expected
Guidance for the year confirmed
Dear Shareholders, Employees,
Partners and Friends of Softing AG,
In the third quarter of 2016, Softing largely compensated for weaker sales
in the US market by significantly growing the business in Europe and Asia.
Third-quarter revenue stood at EUR 20.5 million, almost matching the
previous year's figure of EUR 20.8 million. As expected, EBIT was impacted
by an absence of extremely high-margin orders in the US market, despite
good earnings performance in other regions. EBIT for the quarter amounted
to EUR 1.0 million (previous year: EUR 1.6 million), with operating EBIT of
EUR 1.1 million (previous year: EUR 2.3 million) more severely affected by
extensive new developments.
Sales for the first nine months of the year increased to EUR 58.9 million
(previous year: EUR 57.3 million), while EBIT declined to EUR 2.5 million
(previous year: EUR 3.1 million). Cash holdings increased by almost EUR 2
million to EUR 8.4 million, thanks in part to strong cash flows in the
current year.
The underlying trend of the first half of the year continued in the third
quarter. While we continue to see improvement in the US business, the
economy has not yet recovered to the record levels of the previous year.
Nevertheless, we are optimistic about the prospects for 2017 and beyond.
The company received the first major order for a new customer during the
third quarter, while another customer is expected to decide in favor of
Softing products in the fourth quarter. The new business expected from this
has the potential to shape the development of the US business for years to
come.
Softing IT Networks GmbH increased revenue significantly in the third
quarter and the development of the business is peaking during the current
fourth quarter. In Europe, we have been focusing on considerably
intensifying our business and were able to strengthen our team with
outstanding new staff in several roles that will be key to our success. We
are also continuing to expand our product portfolio with new devices.
Although this generates costs in the short term, it will also fuel our
growth over the next few years.
The Automotive segment continued to improve its visibility and positioning
in the heavy duty diesel market during the third quarter. We participated
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte