exceet Group SE

Financial Results First Quarter 2017 Improving Group Performance Step-by-Step

DGAP-Media / 02.05.2017 / 19:22 Financial Results First Quarter 2017

Improving Group Performance Step-by-Step

- 3M group sales at EUR 35.4 million, plus 12.4% to prior year (organic growth +11.5%)

- Q1 group EBITDA at EUR 1.9 million or 5.4% of net sales, up 5.9% compared to Q1 2016

- On 31 March 2017, order backlog at EUR 96.0 million, cash at EUR 23.0 million, net debt 

  at EUR 9.0 million and equity ratio at 57.0%

- As published in February and March 2017, exceet has granted two potential buyers of the

  stakes of its existing core shareholders the possibility to conduct separately a due 

  diligence of exceet.

- As published on 31 March 2017, Wolf-Günter Freese, former acting CEO and CFO,

  appointed new CEO of the group, keeping his function as group CFO.

Luxembourg, 02 May 2017 - The sales performance of exceet in Q1 2017 confirmed the recently encouraging trend as the group now has reached on a year-on-year basis top line organic growth for the fourth consecutive quarter. exceet's clear focus on the promising markets of smart and secure electronics allows the group to gain gradually ground from a solid base. The actual double-digit organic growth (+11.5%) in the reporting quarter is reflecting the promising order backlog figures recorded at 31 December 2016 and a slowly unwinding customer reluctance as new products offer convincing market potentials. The EBITDA development is well on track but the actual margin of 5.4% leaves room for improvement over the course of the year.

Electronic Components, Modules & Systems (ECMS) increased its net sales by 10.0% to EUR 32.8 million during the first three month of 2017 (3M 2016: EUR 29.8 million) and contributed 92.8% to overall group sales. The EBITDA of the segment reached EUR 3.2 million (3M 2016: EUR 3.6 million) mainly due to the expected lower gross profit margin out of the sales mix within the opto-electronic and PCB activities.