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va-Q-tec AG Earnings Release 2020
459_ip_2020-08-13_dd8e5536-3eff-4eec-9625-e8b22eed4174.pdf
Earnings Release
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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 [email protected]
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Symbol: VQT Bloomberg: VQT:GY Reuters: VQTG:DE ISIN: DE0006636681 WKN: 663668
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