EQS Group-Ad-hoc: Adval Tech Management AG / Key word(s): Annual Results 2020 annual financial statements Niederwangen, March 26, 2021, 7:00 a.m. - Under very difficult conditions, the Adval Tech Group has held up excellently in the coronavirus year 2020 and achieved an EBIT margin of 4.8% (previous year: 5.8%). It achieved total income1) of CHF 140.8 million (previous year: CHF 178.9 million, -21.3%), EBITDA2) of CHF 15.2 million (previous year: CHF 18.4 million, - 17.7%) and EBIT3) of CHF 6.7 million (previous year: CHF 10.3 million, -34.4%). Net profit for 2020 was CHF 4.3 million (previous year: CHF 8.7 million, -50.3%). The significant improvement at all levels in the second half of 2020 makes Adval Tech particularly confident. The coronavirus pandemic has dealt a major blow to the automotive and automotive supply industries. And this at a time when they are undergoing a difficult transformation process. Technical, social and economic developments have fundamentally affected demand and the buying behavior of market participants. Adval Tech had set itself the following objectives for 2020: to maintain its financial room for maneuver, to complete the newly acquired projects in the required quality, within the agreed time and within the calculated costs, to maintain supply capacity and flexibility vis-à-vis customers, to win new orders from the automotive industry and to drive forward business with high-speed presses and components outside the automotive industry. Adval Tech met all these targets in this exceptional year. Market development and market success Adval Tech has also achieved acquisition successes in the plastics sector in recent years, which will keep individual sites busy for years. Examples include the production of radiator shutters for various automotive manufacturers in Hungary as well as several orders for production in Mexico. However, due to the dramatic developments in the market, several production starts that were scheduled for the first half of 2020 have been postponed. Sales efforts, which were intensified even further during this difficult period, resulted in further new orders despite the coronavirus pandemic. In Mexico and China, for example, Adval Tech will manufacture additional safety-relevant subassemblies made of plastic for vehicle interiors. Cash flow Outlook Media and financial analysts' conference Annual General Meeting
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April 27, 2021, publication of the 2020 Annual Report (media and financial analysts' conference cancelled) Except for the historical information contained herein, the statements in this media release are forward-looking statements that involve risks and uncertainties. Content End of ad hoc announcement |
Language: | English |
Company: | Adval Tech Management AG |
Freiburgstrasse 556 | |
3172 Niederwangen | |
Switzerland | |
Internet: | www.advaltech.com |
ISIN: | CH0008967926 |
Valor: | 896792 |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1178749 |
End of Announcement | EQS Group News Service |
1178749 26-March-2021 CET/CEST