Ringmetall again increases revenues and EBITDA by around 60 percent in the first quarter
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DGAP-News: Ringmetall SE
/ Key word(s): Quarter Results
Ringmetall again increases revenues and EBITDA by around 60 percent in the first quarter Munich, 5 May 2022 - Ringmetall SE (ISIN: DE0006001902), a leading international specialist supplier in the packaging industry, is continuing its dynamic business development at a high level in the new fiscal year 2022. Restrictions, for example due to supply chain problems or the Ukraine conflict, have so far only been perceptible in business operations in very isolated cases. In the first quarter, Group revenues again rose significantly accordingly, increasing by 58.0 percent to EUR 57.1 million (Q1 2021: EUR 36.1 million). In addition to the development of raw material prices, inorganic growth via the acquisitions of HOSTO (first-time consolidation 31 May 2021) and Rhein-Plast (first-time consolidation 1 February 2022) was the main driver of the development. Earnings before interest, taxes, depreciation and amortization (EBITDA) showed a slightly disproportionate increase in the same period. It increased by 62.4 percent to EUR 7.5 million (Q1 2021: EUR 4.6 million). "As expected, we are around two percentage points below the best quarters of the previous year in terms of margins. Against the backdrop of efficiency gains, however, we manage to defend our margins at a still high level despite significantly increased raw material prices," explains Christoph Petri, Spokesman of the Management Board of Ringmetall SE. "On the other hand, the Ringmetall Group also has an overall negligible exposure in Russia and Ukraine. The combination of all these points allows us to come through the changed environment accordingly well." The key figures on business development in the reporting period are as follows:
The separate analysis of the effects of raw material price development, inorganic and organic growth showed the following effects on the Industrial Packaging segment: - Effect of raw material price development on segment revenues: +40.0 percent - Effect of company acquisitions on segment revenues: +19.3 percent - Effect of organic business development on segment revenues: +1.0 percent In the Industrial Packaging segment, the clamping rings product area remains the main revenues and earnings driver. Overall, there are signs of a general easing of the rather heated market environment of the previous year. The inliner product area remains robust at a good overall level. It is expected that demand in the food service sector, and thus for beer tank inliners, should also start to recover from the second quarter. Segment revenues increased significantly overall by 60.3 percent to EUR 53.4 million. Segment EBITDA increased disproportionately by 68.6 percent to EUR 8.5 million. In the Industrial Handling Segment, the positive momentum of the previous fiscal year was continued at the revenues level in the new year. Demand for product solutions increased so significantly that an increased number of temporary workers had to be deployed in production to ensure delivery capability. This was reflected in significantly higher costs and increased production scrap. The company has already responded to this development with appropriate countermeasures. Accordingly, segment revenues increased significantly by 30.0 percent to EUR 3.6 million (Q1 2021: EUR 2.8 million), while segment EBITDA almost halved to EUR 0.2 million due to the aforementioned effects (Q1 2021: EUR 0.3 million). In detail, the segment development in the reporting period was as follows:
Against the background of the positive development of the company in the first quarter, the Management Board confirms its forecast for the full year. Accordingly, the company expects Group revenues of EUR 180 to 200 million with EBITDA of EUR 22 to 27 million. At the same time, the chances for the successful conclusion of further company acquisitions are assessed as good against the background of the economic environment and the liquidity situation of the Ringmetall Group. Details on the business development in the first quarter of 2022 will be discussed by the Management Board today at 11:30 a.m. CET during a conference call for analysts, institutional investors and journalists. Registration for this is via email through Ms. Anja Brabec (brabec@ringmetall.de). For more information on the Ringmetall Group and its affiliated subsidiaries, please visit www.ringmetall.de. Contact: About Ringmetall Group Ringmetall is a leading international specialty supplier in the packaging industry. The Industrial Packaging business unit offers high-security closure systems and inner sleeves for industrial drums for the chemical, petrochemical, pharmaceutical, and food processing industries. The Industrial Handling Business Unit develops application-optimized vehicle attachments for handling and transporting packaging units. In addition to the Group headquarters in Munich, Ringmetall is represented by worldwide production and sales subsidiaries in Germany, Great Britain, Spain, Italy, Turkey, the Netherlands as well as China and the USA. Worldwide, Ringmetall generates sales of around EUR 200 million per year.
05.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Ringmetall SE |
| Innere Wiener Str. 9 | |
| 81667 Munich | |
| Germany | |
| Phone: | 089 / 45 22 098 - 0 |
| Fax: | 089 / 45 22 098 - 22 |
| E-mail: | info@ringmetall.de |
| Internet: | www.ringmetall.de |
| ISIN: | DE000A3E5E55 |
| WKN: | A3E5E5 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1343173 |
| End of News | DGAP News Service |
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1343173 05.05.2022
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