M.A.X. Automation Group reports solid development in the first quarter of 2016

DGAP-News: M.A.X. Automation AG / Key word(s): Quarterly / Interim Statement

2016-05-13 / 09:59
The issuer is solely responsible for the content of this announcement.


M.A.X. Automation Group reports solid development in the first quarter of 2016

- Good start to the year in the Industrial Automation segment

- Incoming orders expected to pick up due to major orders

- Management Board confirms forecast for financial year 2016

Düsseldorf, May 13, 2016 - M.A.X. Automation Group recorded a solid business development in the first quarter that was in line with its own expectations. At EUR 75.6 million, Group sales for the company that specializes in high-tech mechanical engineering were exactly the same as in the same quarter of last year. Adjusted for the contribution of the Group company altmayerBTD that was sold in December 2015, sales increased by 4.0%.

Consolidated earnings before interest and taxes (EBIT) and before amortization of purchase price allocations declined from EUR 1.7 million to EUR 1.4 million mainly due to negative currency effects. New order intake fell by 19.0% from EUR 90.9 million to EUR 73.6 million. The order book position as of March 31, 2016, increased by 24.1% to EUR 132.3 million as a result of the final invoicing of several projects and the high sales in the fourth quarter of 2015.

The balance sheet ratios continued to develop positively. Net debt as of March 31, 2016, was reduced by EUR 3.0 million to EUR 61.6 million compared to the same date in the previous year. The equity ratio was 37.6% (March 31, 2015: 33.0%) and thus significantly above the minimum target of 30%.

The Industrial Automation segment got off to a good start to the year. Sales rose by 15.8% to EUR 52.1 million in the first three months of the year. EBIT before PPA more than tripled to EUR 2.3 million. The Environmental Technology segment on the other hand developed negatively. Sales declined by 23.3% to EUR 23.5 million, whereby last year's figure included the sales contribution of altmayerBTD. EBIT before PPA amounted to EUR -0.3 million after EUR 2.0 million in the previous year and was burdened by the currency effects mentioned earlier. Environmental Technology saw business pick up again rather significantly starting in March, however.

The Management Board confirms its forecast for financial year 2016. It anticipates Group sales of between EUR 370 million and EUR 390 million and Group EBIT before PPA depreciation and amortization of at least EUR 24 million.

"Due to how solidly business developed in the first quarter, M.A.X. Group is in line with expectations. At the same time, we expect to see a significant upturn in new orders in both divisions, Industrial Automation and Environmental Technology, in the second quarter. We consider the encouraging overall demand to be further confirmation of our Group's focus on high-tech engineering," explained Fabian Spilker, CFO of M.A.X. Automation AG.

The complete report on the first quarter of 2016 will be available for downloading on M.A.X. Automation AG's website under http://www.maxautomation.de in the section entitled "Investor Relations."


(in mill. EUR) Q1 2016 Q1 2015
New orders 73.6 90.9
Order book position* 132.3 174.4
Group sales 75.6 75.6
EBITDA 3.0 3.3
EBIT before PPA 1.4 1.7
EBIT after PPA 0.4 0.6
Net profit for the period -0.3 -0.2
EBIT per share before PPA (in EUR) 0.05 0.06
Earnings per share (in EUR) -0.01 -0.01

* Comparison of the dates March 31, 2016, and March 31, 2015

Press contact:
Frank Elsner / Frank Paschen
Frank Elsner Kommunikation für Unternehmen GmbH
Phone.: +49 - 5404 - 91 92 0
Fax: +49 - 5404 - 91 92 29

About M.A.X. Automation AG
M.A.X. Automation AG (Securities Identification Number: 658090) with its headquarters in Düsseldorf is an
internationally active high-tech mechanical engineering Group and a leading full-service supplier of integrated and
sophisticated system and component solutions. Its operational business is divided into two segments. In the
Industrial Automation segment, the Group is considered to be a trendsetter in the development and manufacturing
of integrated and proprietary solutions for use in manufacturing and assembly in the automotive industry, medical
technology, packaging machines and the electronics industry due to its comprehensive technological know-how.
In the Environmental Technology segment, M.A.X. Automation develops and installs innovative systems for use
by the recycling, energy and raw materials industries.

2016-05-13 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.

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