Agta record : Media Release FY Results 2019

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agta record finishes 2019 in growth mode and improves margins

Media Release: Fehraltorf, 24 March 2020
in EUR million		2019	%	2018	%	Change
Turnover		404.8	100.0%	375.4	100.0%	+7.8%
Gross margin		294.4	72.7%	277.0	73.8%	+6.3%
Personnel expenses		174.1	43.0%	177.6	47.3%	-2.0%
Structure cost		51.7	12.8%	51.2	13.6%	+1.0%
EBITDA		70.8	17.5%	50.8	13.5%	record.group
	+39.4%
EBIT		53.0	13.1%	37.8	10.0%	+40.2%
Financial result		(1.0)	-	(2.6)	-	NM
Net income		40.3	10.0%	25.9	6.9%	+55.6%
After booking revenue growth of 7.8%	climb to 17.5%, also supported by a
in 2019, agta record broke through	one-time pension credit (due to IAS19)
the EUR 400 million	barrier for the	and the first-time application of IFRS 16
first time. Growth of product sales was	(Leasing) which contributed a combined
higher (+9.4%) than in service and	1.6 percentage points to the improve-
maintenance (+5.6%) which resulted in	ment. EBIT increased by 40.2% to
a slight reduction in the gross margin	EUR 53 million. The improved financial
(in percent of revenue). Good cost	result and a lower tax rate of 22.4% re-
management let the	EBITDA margin	sulted in net income growing by 55.6%.

agta record ltd - Allmendstrasse 24 - 8320 Fehraltorf - Switzerland mail: [e-mail] - web: www.record.group

your global partner for entrance solutions

Headquartered in Switzerland, agta record sells its products and services across the globe and is directly present with subsidi- aries in 17 countries. agta record is listed on Euronext Paris, foreign stocks. ISIN: CH0008853209

web: www.record.group

mail: [e-mail]

agta record ltd - Allmendstrasse 24 - 8320 Fehraltorf - Switzerlandrecord.group mail: [e-mail] - web: www.record.group

Tel. + 33 6 07 44 56 12

Hubert Jouffroy - Chairman of the Board

Ranking among the top players in the global market for automatic pedestrian doors, agta record calls on its integrated technological and commercial know-how.The Group's extensive expertise covers the design, pro- duction, marketing, installation and mainte- nance of a large range of automatic doors.

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2020 1st Quarter Sales:

23 April 2020 after trading

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By the end of February, agta record had grown order intake by 7%. At this point in time and depending on the country, construction sites have been closed or show limited activity, orders and pro- jects are being postponed and techni- cians are restricted in their mobility. The office-basedworkforce of the group is predominantly working from home. Depending on the country, various op- tions exist to mitigate the negative cost impact of personnel without work. The spreading pandemic and reduced ac- tivity are already having a negative in- fluence on the March results. Due to the low visibility it is not possible to evaluate the impact on the full year.

As communicated on 28 February 2020, ASSA ABLOY received phase 1 conditional clearance by the EU Com- mission to indirectly acquire the 54% shareholding in agta record from the shareholders of agta finance. ASSA ABLOY is expecting the closing in the second half of 2020 after all remaining closing conditions and the EU Commis- sion requirements have been fulfilled.

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