DGAP-News

MAX Automation closes 2016 with record order backlog - Group sales and earnings lower than last year as announced - Seite 2

Daniel Fink, Chairman of the Management Board of MAX Automation AG: "2016 was a challenging year with light and shadows. Although sales and earnings were below our expectations, we received attractive orders from high-growth industries and reached a record level with our order backlog. In addition, we have strategically drawn a clear path into the future by launching our 'Strategy 2021.' MAX therefore has every reason to be optimistic regarding its development in 2017 and beyond."

Key Group figures for 2016

- Consolidated order intake reached a record high of EUR 395.7 million, 8.8% above the already high level of the previous year (2015: EUR 363.7 million). This development was mainly driven by buoyant business in the Industrial Automation segment.

- Consolidated order backlog as of December 31, 2016, was at the record level of EUR 193.8 million, which is 43.4% higher than on the same day of the previous year (EUR 135.2 million). The book-to-bill ratio was 1.17 and is thus a good basis for further growth.

- Group sales fell by 12.2% to EUR 337.1 million in 2016 (previous year: EUR 384.0 million) due to a market-related lower demand in the Environmental Technology segment and delays in large-scale orders in the Industrial Automation segment. It should also be taken into account that in the previous year Group sales included the contributions of the business of the former Group company altmayerBTD that was sold in December 2015. Adjusted for this effect, Group sales declined by 8.2% in 2016.

- Group earnings before interest and taxes (EBIT) and before depreciation from purchase price allocation (PPA depreciation) decreased to EUR 17.4 million (previous year: EUR 24.8 million, -29.9%). Costs for strategic capacity adjustments in Environmental Technology as well as an increase in the number of employees in the Industrial Automation segment had an impact on the sharp rise in business volume. It should also be taken into account that the Group had benefited last year from a product and project mix that was particularly advantageous in terms of profitability.