R STAHL : Interim Report Q2

Interim Report

HALF-YEAR 2O2O

R. STAHL - Interim Report H1 2020

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This report is available in German and English language. Both versions can also be found online on our corporate website www.r-stahl.comunder Corporate/Investor Relations/Financial Reports. It contains forward-looking statements based on assumptions and estimates of R. STAHL's management. Although we assume that the expectations of these forward-looking statements are realistic, we cannot guarantee that these expectations will prove to be correct. The assumptions may involve risks and uncertainties that could cause the actual results to differ materially from the forward-looking statements. Factors that may cause such discrepancies include: changes in the macroeconomic and business environment, exchange rate and interest rate fluctuations, the roll-out of competing products, a lack of acceptance of new products or services, and changes in business strategy. R. STAHL does not plan to update these forward-looking statements nor does it accept any obligation to do so.

The contents of this press release are intended to address all genders. For the sake of readability and without any intent to discriminate, only the male form will be used.

Rounding differences and rates of change

Percentages and figures in this report may include rounding differences. The signs used to indicate rates of change are based on economic aspects: improvements are indicated by a "+" sign, deteriorations by a "-" sign. Rates of change >+100% are shown as >+100%, rates of change <-100% as "n/a" (not applicable).

R. STAHL - Interim Report H1 2020

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R. STAHL GROUP

Key Figures
								Change							Change
in € million		Q2 2020		Q2 2019		in %		6M 2020		6M 2019		in %
Sales	59.7		65.5	-8.8		124.8		133.0	-6.2
Germany	15.0		14.5	+3.5		31.9		30.7	+3.9
Central region 1)			28.6			30.1		-5.0			57.8			59.6		-3.1
Americas	5.4		8.2	-33.8		12.7		15.8	-19.8
Asia/Pacific	10.7		12.7	-15.6		22.5		26.9	-16.4
Order backlog as of 30 June									79.7		76.9	+3.6
EBITDA pre exceptionals 2)			3.9			5.4		-27.7			8.6			13.1		-34.1
EBITDA margin pre exceptionals 2)			6.5%			8.2%					6.9%			9.8%
EBITDA	3.6		4.2	-14.8		8.2		10.5	-21.4
EBIT	-0.6		0.9		n/a	-0.1		1.9		n/a
Net profit	-2.0		-0.8	<-100		-2.6		-0.7	<-100
Earnings per share (in €)	-0.31		-0.12	<-100		-0.41		-0.10	<-100
Cash flow from operating activities	1.5		3.1	-50.2		2.5		10.0	-75.3
Depreciation and amortization	4.2		3.3	+28.0		8.3		8.6	-2.6
Capital expenditures	2.7		2.1	+26.3		5.0		4.7	+5.8

			30 June			31 Dec.		Change
	2020	2019		in %
Total assets	257.1	259.4	-0.9
Equity	55.0	58.4	-5.8
Equity ratio	21.4%	22.5%
Net financial debt 3)		10.3		4.2		>+100
Net financial debt incl. lease liabilities pursuant to IFRS 16	39.4	36.0	+9.7
Employees 4)	1,685	1,669	+1.0

1. Africa and Europe excl. Germany
2. Exceptionals: restructuring charges, non-scheduled depreciation and amortization, charges for design and implementation of IT-projects, M&A costs as well as profit and loss from the disposal of non-current assets no longer required for business operations
3. excl. pension provision and excluding lease liabilities
4. excl. apprentices

R. STAHL - Interim Report H1 2020

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1

INTERIM REPORT

of R. Stahl Aktiengesellschaft for the period 1 January 2020 through 30 June 2020

CONTENTS

2

3

9

Key topics in the reporting period

Group management report

Consolidated financial statements

14 Selected explanatory notes

16 Responsibility statement

17		Financial calendar and contact

R. STAHL - Interim Report H1 2020

KEY TOPICS IN THE REPORTING PERIOD

• R. STAHL takes over the 100% holding of OOO R. Stahl, Moscow (Russian Federation)
• R. STAHL early extends contract of CEO Mathias Hall- mann and appoints Jürgen Linhard as additional mem- ber of the Executive Board
• R. STAHL invites shareholders to the 27th Ordinary Annual General Meeting on 30 July 2020
• 1. STAHL takes over the 100 % holding of OOO R. Stahl, Moscow (Russian Federation)

In order to restructure the sales activities in the Rus- sian Federation, R. STAHL acquired a further 40% of the shares carrying voting rights of OOO R. Stahl, Moscow (Russian Federation) in April 2020 for a price of €226 thousand. The shareholding is now 100%.

R. STAHL early extends contract of CEO Dr. Mathias Hallmann and appoints Jürgen Linhard as additional member of the Executive Board

In April, the Supervisory Board of R. STAHL AG appointed CEO Dr Mathias Hallmann for further three years, thereby extending his contract early. The new mandate begins on 1 October 2020. At the same time, Jürgen Lin- hard, previously CFO at Diehl Aviation Hamburg GmbH, was appointed as a member of the Executive Board of R. STAHL AG with responsibility for the finance functions. His contract has a term of three years.

2

R. STAHL invites shareholders to the 27th Ordinary Annual General Meeting on 30 July, 2020

On 22 June, R. STAHL invited its shareholders to the 27th Ordinary Annual General Meeting on 30 July 2020. The meeting will be held as a virtual event without the shareholders or their proxies being physically present at the Group headquarters. The Ordinary Annual General Meeting was originally planned for 28 May, 2020, but it had to be cancelled in March due to the statutory restrictions on gatherings to prevent the risks of infection linked to the spread of COVID-19.