SHW AG reported unaudited preliminary earning results for the full year of 2017. For the period, group sales of EUR 400.6 million in the fiscal year 2017 were slightly lower than the previous year's figure of EUR 405.8 million. This was attributable to the Pumps and Engine Components business segment. Consolidated EBITDA decreased by a total of 5.2% from EUR 43.6 million in the previous year to EUR 41.3 million. Despite lower charges for depreciation and amortization, the group's net profit for the year decreased by just over 12% to EUR 10.5 million against EUR 12.8 million a year ago. This was mainly due to a loss on deconsolidation of EUR 1.6 million ­ caused by currency translation effects ­in connection with the sale of the participation in the Chinese brake discs joint venture. Earnings per share come to EUR 1.63 against EUR 1.99 a year ago. EBIT adjusted was EUR 17.516 million against EUR 18.938 million a year ago. The Group managed to increase its cash flow from operating activities by 50.6% from EUR 20.8 million to EUR 31.3 million. The significant improvement is primarily due to effective working capital management. The cash flow from investing activities in intangible assets and property, plant and equipment of EUR 32.2 million in the period from January to December 2017 outstrips the figure for the comparable period of the previous year of EUR 24.8 million by almost 30%.

Based on the economic and industry environment and considering the potential risks and opportunities for the full year 2018, the Management Board of SHW AG anticipates Group sales in the fiscal year 2018 to lie in a range between EUR 450 million to EUR 470 million.