Niederwangen, March 26, 2021, 7:00 a.m. - Under very difficult conditions, the Adval Tech Group has held up excellently in the coronavirus year 2020 and achieved an EBIT margin of 4.8% (previous year: 5.8%). It achieved total income1) of CHF 140.8 million (previous year: CHF 178.9 million, -21.3%), EBITDA2) of CHF 15.2 million (previous year: CHF 18.4 million, - 17.7%) and EBIT3) of CHF 6.7 million (previous year: CHF 10.3 million, -34.4%). Net profit for 2020 was CHF 4.3 million (previous year: CHF 8.7 million, -50.3%). The significant improvement at all levels in the second half of 2020 makes Adval Tech particularly confident.
Market development and market success
Despite a difficult environment, Adval Tech succeeded in acquiring new, promising orders also last year. In the metals sector, the cooperation with a leading European premium automotive manufacturer launched in spring 2018 was further expanded. In the year under review, Adval Tech received additional orders for structural components that are scheduled to go into production in 2022. At its sites in Germany and Hungary, for example, Adval Tech will produce metal parts for an electric sports car and an electric sedan from 2022.
Adval Tech has also achieved acquisition successes in the plastics sector in recent years, which will keep individual sites busy for years. Examples include the production of radiator shutters for various automotive manufacturers in Hungary as well as several orders for production in Mexico. However, due to the dramatic developments in the market, several production starts that were scheduled for the first half of 2020 have been postponed. Sales efforts, which were intensified even further during this difficult period, resulted in further new orders despite the coronavirus pandemic. In Mexico and China, for example, Adval Tech will manufacture additional safety-relevant subassemblies made of plastic for vehicle interiors.
Key figures
|
2020
|
2019
|
Change
|
Total income (CHF millions)1)
|
140.8
|
178.9
|
-21.3%
|
Net turnover (CHF millions)
|
134.9
|
173.6
|
-22.3%
|
Operating earnings before depreciation EBITDA (CHF millions)2)
|
15.2
|
18.4
|
-17.7%
|
Operating earnings EBIT (CHF millions)3)
|
6.7
|
10.3
|
-34.4%
|
Net profit (CHF millions)
|
4.3
|
8.7
|
-50.3%
|
Cash flow from operations (CHF millions)
|
6.1
|
4.2
|
44.1%
|
Number of employees on December 31
|
1105
|
1179
|
-74
|
Alternative Performance Measures:
1) Total income: Net turnover, plus or minus change in inventories of finished and semi-finished goods, plus capitalized internally produced assets, plus other operating income.
2) EBITDA: Total income less cost of goods sold and outsourced services, payroll and other operating expenses.
3) EBIT: EBITDA less depreciation and amortization.
4) Sum of cash flow from operating activities and cash flow from investing activities.
Background information about the Adval Tech Group
Adding value through innovation - that's what Adval Tech stands for. The Adval Tech Group is a global industrial supplier of technologically sophisticated components and subassemblies made of metal and plastic. It focuses on selected activities, especially in its main target market, the automotive industry. As a supplier and value-adding partner, Adval Tech covers the entire value chain from product development to prototyping, to mold and tool development, and through to component production and assembly.
Download media release
www.advaltech.com/en/group/investors/company-news/ad-hoc-notices
Contact
Markus Reber, CFO, phone +41 31 980 82 70, markus.reber@advaltech.com
Valeria Poretti, Head Corporate HR/Communication, phone +41 31 980 82 66, valeria.poretti@advaltech.com
Agenda
April 27, 2021, publication of the 2020 Annual Report (media and financial analysts' conference cancelled)
May 20, 2021, General Meeting of Shareholders 2021 (limited attendance)
End of August 2021, announcement of semi-annual results 2021
Except for the historical information contained herein, the statements in this media release are forward-looking statements that involve risks and uncertainties.
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