va-Q-tec AG

Earnings Release • Aug 13, 2020

va-Q-tec AG H1 2020 Earnings Release

August 13th, 2020

• Highlights and Business Update
• Financial Performance H1 2020

Today's presenters

• Outlook 2020
• Q&A

Dr. Joachim Kuhn (CEO) Stefan Döhmen (CFO)

• CoVid-19 Impact mostly relevant in business line "Products"
• Systems and Services with slight tailwind (Healthcare logistics)
• Supply chain stable – no business interruptions
• Production and service continued
• No positive tested cases currently @ VQT
• TempChain Service Network up and running
• All customer orders could be fulfilled
• No worktime reduction

Continued growth and strongly improved profitability in H1 '20

Good growth performance Revenue +14% to 35.7 Mio. EUR (H1 2019: 31.3 Mio. EUR)

Systems revenue up 77% YOY to 10.5 Mio. EUR

(H1 2019: 5.9 Mio. EUR)

EBITDA +44% to 6.3 Mio. EUR (H1 2019: 4.4 Mio. EUR)

Positive EBIT

Healthcare Business with 77% Revenue share (H1 2019: 63%)

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Group revenues grew by 14%, Healthcare & Logistics with 77% Revenue share

In EUR Mio.

H1 2020: 35.7 Mio. EUR

Strong growth fuelled by Services and Systems, "Products" with COVID-19 impact

Strong EBITDA increase by 44% YOY

Cash Flow Summary: Continued strong operating CF performance

in EUR Mio.	H1 20	H1 19
Operating cash flow before changes in Working Capital	4.6	1.4
Operating cash flow	2.3	0.3
Investing cash flow	-4.5	-3.7
thereof payments for investments in property, plant and equipment	-4.0	-3.5
Financing cash flow	5.1	-1.1
Net change in cash	2.8	-4.4
Free Cash flow	-2.2	-3.4

Operating CF before and after WC positive, clear upward trend

Comments

• Investing CF similar to H1 2019
• Free CF still negative, but significantly improved
• Cash position of 10.3 Mio. EUR at the end of H1 2020

Solid equity ratio of 38%, no goodwill

Outlook 2020 quantified: 10-15% topline growth, improved margin

	FY 2019	FY 2020 Outlook incl. possible CoVid-19 effects
Revenue	64,7 Mio EUR +28%	10-15% growth
EBITDA	13% on Total income, 15% on Revenue	Improved margin

"Products" to be strategically developed towards higher margin applications

Significantly increased energy

efficiency in local and

district heating

va-Q-shell foam

Thank you for your attention!

va-Q-tec AG

Alfred-Nobel-Straße 33 97080 Würzburg Tel.: +49 931 35942-1616 Fax: +49 931 35942-0 IR@va-Q-tec.com

TICKER

Symbol: VQT Bloomberg: VQT:GY Reuters: VQTG:DE ISIN: DE0006636681 WKN: 663668

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