Although the production and processing of crude oil does not play a major role here, however, our products that are sold in Germany are also applied in customer facilities abroad. In Germany, the weak demand in the oil & gas sector was partly offset by sales in other industry sectors. Besides a decline in prices and volumes and a change in product mix, adverse changes in FX rates also held back sales. At EUR 286.6 million, sales were 8.4 % lower compared to the previous year (2015: EUR 312.9 million). At the end of 2016, order backlog was at EUR 80.7 million and thus 15.2 % below the level of last year's end (2015: EUR 95.2 million).ĭue to the reduced order intakes in 2016, sales in the R. Due to high pricing pressure in the oil & gas industry, particularly larger projects in the downstream sector have been postponed several times. Here, a decline of 21.5 % to EUR 60.2 million was recorded (2015: EUR 76.7 million). STAHL could also not keep up to the previous year's level of order intake. Order intake in this region achieved EUR 34.3 million and was thus below previous year's level by 19.1% (2015: EUR 42.5 million). In the Americas, the precarious market situation increasingly worsened in the course of the year while the investment restraint of the oil & gas producers expanded into the downstream sector. Among other things, the measures to win new customers in the chemical sector made a positive impact here. Germany - order intake at EUR 126.8 million was 2.0 % below the previous year's figure (2015: EUR 129.4 million). In the Central region - which includes Africa and Europe, excl. Major projects have not been awarded in the year under review. In Germany, order intake fell by 10.4 % to EUR 61.6 million (2015: EUR 68.7 million). In total, however, order intake declined in all regions. STAHL also had to cope with increased pricing pressure.įrom a regional perspective, there were significant differences in the development of order intake. As of the second half of the year, companies in the downstream sector also reacted with similar measures to the low price level for oil & gas. Due to the repeated severe drop in prices for oil & gas, particularly at the beginning of the year, oil & gas producers stopped their investments almost completely. The decline in order intake and sales in FY 2016 was driven by the renewed slump in demand in the main customer sector of R. Similarly, earnings before taxes (EBT) significantly increased to EUR 5.8 million (2015: EUR 0.7 m), and net profit reached EUR 4.2 million (2015: EUR -0.1 million). However, EBIT more than doubled to EUR 8.8 million (2015: EUR 3.9 million). While order intake dropped by 10.8 % compared to the previous year and achievedĮUR 282.9 million (2015: EUR 317.3 million), sales declined by 8.4 % toĮUR 286.6 million (2015: EUR 312.9 million). STAHL maintained profitability in a difficult market environment and expanded its market position, despite declining sales. Compared to the preliminary figures that were published on 22 February 2017, order intake and sales remain unchanged, while earnings before interest and taxes (EBIT) increase slightly by EUR 0.4 million to EUR 8.8 million, mainly due to the capitalization of acquisition costs. STAHL, leading supplier of products and systems for explosion protection, today publishes the audited results for fiscal year 2016. Dividend proposal of EUR 0.60 per share continues shareholder-friendly dividend policy Slump in demand in the oil & gas sector leads to a decline of order intake by 10.8 % to EUR 282.9 million and a decline in sales by 8.4 % to EUR 286.6 million Net profit increases significantly to EUR 4.2 million EBIT more than doubled to EUR 8.8 million due to savings from the restructuring program and exceptionals, despite declining sales STAHL publishes audited figures for FY 2016: profitability successfully maintained in a difficult market environment The issuer is solely responsible for the content of this announcement.
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