MAX Automation SE achieves new record order backlog after first quarter of 2018

DGAP-News: MAX Automation SE / Key word(s): Quarter Results

15.05.2018 / 07:43
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MAX Automation SE achieves new record order backlog after first quarter of 2018

- Pleasingly high order backlog of around EUR 233 million

- Group sales increase by 4% to around EUR 91 million

- Group EBIT before PPA amortization declines to EUR 3.5 million - additional expenses due to technically demanding, but promising, projects

- Managing Directors confirm expectations for the full year 2018

Düsseldorf, May 15, 2018 - MAX Automation SE recorded good overall business development in the first three months of 2018 in line with its own expectations. The specialist for high-tech mechanical engineering achieved by far the highest order backlog in company history. Furthermore, MAX Automation made significant progress in its international growth strategy by acquiring a majority stake in today's MAX Automation (Shanghai), Ltd. and its ongoing integration into the Group.

Group-wide incoming orders reached EUR 81.4 million in the first quarter (Q1 2017: EUR 85.8 million; -5.2%). The slight decline compared to the high figure in the first quarter of the previous year resulted from postponements of orders in the Industrial Automation segment that were finally booked in April. The high level of the prior-year period must also be taken into account. Order backlog as of March 31, 2018, reached a record level of EUR 232.7 million. It was thus 21.0% higher than on the same date of the previous year (March 31, 2017: EUR 192.3 million) and 17.1% higher than at the end of the previous year (December 31, 2017: EUR 198.6 million).

Group sales rose by 4.0% to EUR 90.7 million in the first three months of 2018 (Q1 2017: EUR 87.2 million). Consolidated earnings before interest and taxes (EBIT) and before amortization from purchase price allocations (PPA) amounted to EUR 3.5 million after EUR 4.5 million in the same period of the previous year (-23.6%). This decline is mainly due to additional expenses for technically demanding, yet promising, pilot projects in the Industrial Automation segment as well as integration expenses in connection with the majority stake in MAX Automation (Shanghai), Ltd. and the bundling of the activities of the Group companies IWM Automation GmbH and Rohwedder Macro Assembly GmbH. The EBIT margin - in relation to total operating performance - declined from 4.9% in the same period of the previous year to 3.5%.

The equity ratio was 38.2% as of March 31, 2018 (December 31, 2017: 43.0%), and thus remained above the long-term minimum target of 30%.

Development of the Group segments

The Industrial Automation segment continued to develop at a high level at the beginning of 2018. The segment's order backlog as of March 31 grew dynamically by 38.6% to EUR 201.3 million and thus exceeded the EUR 200 million mark for the first time (Q1 2017: EUR 162.7 million). Sales rose by 4.4% to EUR 65.7 million (Q1 2017: EUR 62.9 million). EBIT before PPA fell to EUR 3.6 million (Q1 2017: EUR 3.9 million; -5.8%) due to the factors mentioned above. The sales and earnings contributions of MAX Automation (Shanghai), Ltd. will be included in the figures for the first time in the second half of the year.

The Environmental Technology segment including the Group company Vecoplan developed positively overall. Incoming orders increased significantly in the first three months by 12.2% to EUR 27.3 million (Q1 2017: EUR 24.3 million). The order backlog as of March 31 increased by 6.3% to EUR 31.4 million (March 31, 2017: EUR 29.6 million). Sales rose to EUR 25.0 million in the first three months (Q1 2017: EUR 24.3 million; 2.8%). EBIT before PPA reached EUR 1.4 million (Q1 2017: EUR 1.5 million; -5.7%).

Outlook for fiscal year 2018

Based on how business has developed in the first three months of 2018 and particularly on the continuing high demand, the Managing Directors are generally optimistic about the Group's economic development for the year as a whole. They continue to expect Group sales of at least EUR 400 million (previous year: EUR 376.2 million) and Group EBIT before PPA of at least EUR 26 million (previous year: EUR 22.2 million).

Daniel Fink, Managing Director (CEO) of MAX Automation SE: "MAX Automation has gotten off to a solid start in fiscal year 2018. At the same time, we have taken important steps in our medium-term growth strategy 2021, including the majority stake in today's MAX Automation (Shanghai), Ltd. with branches at four locations of great importance for the Chinese automotive industry. Over the course of the year, we will pay particular attention to the ongoing integration of our new Group company into the Group. However, these are measures that serve an important goal: to make MAX Automation even more effective internationally."

The complete quarterly release for the first three months of 2018 can be downloaded from MAX Automation SE's website at under "Investor Relations."



in EUR millions Q1 2018 Q1 2017
Incoming orders 81.4 85.8
Order backlog 232.7 192.3
Sales 90.7 87.2
EBITDA 5.2 6.2
EBIT before PPA 3.5 4.5
EBIT after PPA 3.0 4.0
Result for the period 1.6 2.5
EBIT per share before PPA (EUR) 0.12 0.17
Earnings per share (EUR) 0.06 0.09

* Comparison of March 31, 2018 to March 31, 2017

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

About MAX Automation SE
MAX Automation SE (Securities Identification Number: A2DA58) 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, MAX Automation develops and installs innovative systems for use by the recycling, energy and raw materials industries.

15.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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