EKOTECHNIKA AG
DGAP-News: Ekotechnika AG / Key word(s): Half Year Results
Ekotechnika AG stays on growth track in H1 2020/21
2021-06-18 / 10:00
The issuer is solely responsible for the content of this announcement.
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Ekotechnika AG stays on growth track in H1 2020/21
. Group revenues up by 16% to EUR 87.1 million
. Number of tractors sold almost doubled
. Operating profit (EBIT) rises sharply to EUR 4.8 million (H1 2019/20: EUR -3.6 million)
. Annual forecast raised in March 2021 confirmed
Walldorf, 18 June 2021 - Ekotechnika AG (Primary Market; ISIN: DE000A161234), the German holding company of the largest
dealer of international agricultural machinery in Russia, increased its revenues by 16% to EUR 87.1 million in the
first half of 2020/21 (end of the financial year: 30 September). Of this, sales of agricultural machinery accounted for
approx. EUR 53.8 million (62% of total revenues). In the same period, the number of tractors sold almost doubled to 211
compared to the first six months of the prior financial year (114 tractors). Sales of combines and forage harvesters
also picked up noticeably from 3 to 14 machines. Revenues in the Spare Parts segment climbed from EUR 22.7 million in
the prior year period to EUR 24.9 million in the reporting period (29% of total revenues). The strategically focused
Service segment also performed positively in exchange rate adjusted terms and generated revenues of EUR 1.8 million in
the first half of 2020/21. The focus here is on measures to increase efficiency and further enhance customer
satisfaction. The Smart Farming segment, which is currently being established and for which a separate department with
dedicated employees has been set up in recent months, also boosted its revenues from EUR 0.2 million to EUR 0.9
million.
Gross profit was up by 8% on the prior year period (EUR 14.3 million) to EUR 15.4 million. EBITDA (earnings before
interest, taxes, depreciation and amortization) showed a clearly positive trend and reached EUR 6.3 million (H1 2019/
20: EUR -2.2 million.). The same applies to earnings before interest and taxes (EBIT), which amounted to EUR 4.8
million (H1 2019/20: EUR -3.6 million). The noticeably higher six-month result is attributable not only to the
increased gross profit but primarily also to the negative exchange rate effects of the previous year. Consolidated
six-month earnings improved to EUR 2.2 million, up from a six-month loss of EUR 5.2 million in the same period of the
previous year.
Bjoerne Drechsler, member of the Executive Board of Ekotechnika AG: "The first six months of the 2020/21 financial year
were very satisfactory for the Ekotechnika Group. This is attributable to the good overall situation in the Russian
agricultural sector, the positive price trend for agricultural commodities and the good harvest, particularly in our
sales areas. What is more, we are successfully developing the sales territories taken over in 2019."
The Executive Board has confirmed the forecast for the 2020/21 financial year, which was raised in March 2021 and now
projects sales revenues of between EUR 220 million and EUR 230 million and gross profit of around EUR 34 million to EUR
37 million. Earnings before interest and taxes (EBIT) are expected to come in at between EUR 11 million and EUR 14
million.
The full report on the first six months of 2020/2021 is available on the website of Ekotechnika AG at
www.ekotechnika.de/en/investor-relations/financial-publications/.
About Ekotechnika
Ekotechnika AG, Walldorf, is the German holding company of the EkoNiva-Technika Group, the largest distributor of
agricultural machinery in Russia. The main partner and principal supplier is John Deere, the world's largest and
market-leading manufacturer of agricultural machinery. Ekotechnika's main business lies in selling new equipment such
as tractors and combines but also soil tillage machines. In addition, the company sells spare parts, provides service
and maintenance and offers its customers smart farming technologies. Founder and Chairman of the Executive Board of
Ekotechnika AG is Stefan Dürr, who has been active in the Russian farming sector since the late eighties and has been
instrumental in its modernization over the past two decades. Operating 23 locations in five attractive Russian farming
regions, Ekotechnika today employs around 730 people and generated sales revenues of around EUR 194 million in 2019/20.
The Ekotechnika stock is listed on the Primary Market of the Düsseldorf Stock Exchange (ISIN: DE000A161234) as well as
on the Open Market of the Frankfurt Stock Exchange.
Contact
Ekotechnika AG // Johann-Jakob-Astor-Str. 49 // 69190 Walldorf // T: +49 (0) 6227 3 58 59 60 // E: info@ekotechnika.de
// www.ekotechnika.de
Press / Investor Relations
Fabian Kirchmann, Anna-Lena Mayer // IR.on AG // T: +49 (0) 221 9140 970 // E: presse@ekosem-agrar.de
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2021-06-18 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Ekotechnika AG
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0) 6227 3 58 59 60
E-mail: info@ekotechnika.de
Internet: www.ekotechnika.de
ISIN: DE000A161234
WKN: A16123
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich
EQS News ID: 1209350
End of News DGAP News Service
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https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1209350&application_name=news(END) Dow Jones Newswires
June 18, 2021 04:00 ET (08:00 GMT)
