Ad hoc announcement pursuant to Art. 53 LR
Niederwangen, August 19, 2022, 7.00 a.m. – Under very difficult market conditions, the Adval Tech Group achieved a total income1) of CHF 90.9 million in the first half of 2022 (first half of 2021: CHF 90.4 million, +0.5%), operating earnings before interest, tax and depreciation (EBITDA1)) of CHF 5.3 million (first half of 2021: CHF 9.7 million, -45.4%), operating earnings before interest and tax (EBIT1)) of CHF 1.5 million (first half of 2021: CHF 5.8 million, -74.6%) and net result of CHF 0.0 million (first half of 2021: CHF 4.3 million). The EBITDA margin was 5.8% (first half of 2021: 10.7%) and the EBIT margin amounted to 1.6% (first half of 2021: 6.4%).
Profitability
The Adval Tech Group generated operating earnings before interest, tax and depreciation (EBITDA1)) of CHF 5.3 million (first half of 2021: CHF 9.7 million, -45.4%), corresponding to an EBITDA margin of 5.8% (first half of 2021: 10.7%). Operating earnings before interest and tax (EBIT1)) was CHF 1.5 million (first half of 2021: CHF 5.8 million, -74.6%), EBIT margin 1.6% (first half of 2021: 6.4%). Net result for the Adval Tech Group amounted to CHF 0.0 million in the first half of 2022 (first half of 2021: CHF 4.3 million). Adjusted for currency effects, EBITDA1) for the first half of 2022 amounted to CHF 5.3 million and EBIT1) to CHF 1.4 million.
Outlook
It remains extremely difficult to make economic forecasts. Neither the further course of the Coronavirus pandemic nor the development of supply bottlenecks for raw materials and electronic components are foreseeable for the coming months. Added to this is the geopolitical situation with its uncertainties regarding energy supplies, production reliability and cost development. Adval Tech is therefore refraining from issuing a specific outlook for the second half of the year.
The Adval Tech Group remains cautious with regard to costs and capital expenditure. It continues to focus on implementing the acquired projects right first time.
Key figures
|
|
1st half of 2022
|
2nd half of 2021
|
1st half of 2021
|
Total income1) (CHF million)
|
|
90.9
|
80.4
|
90.4
|
Net turnover (CHF million)
|
|
86.0
|
80.4
|
86.2
|
EBITDA1) (CHF million)
|
|
5.3
|
7.3
|
9.7
|
EBIT1) (CHF million)
|
|
1.5
|
3.4
|
5.8
|
Net result (CHF million)
|
|
0.0
|
1.6
|
4.3
|
Free cash flow1) (CHF million)
|
|
-0.7
|
14.6
|
-1.0
|
Number of employees (full-time equivalents) as at balance sheet date
|
|
1,140
|
1,134
|
1,132
|
1) Alternative Performance Measure, see note 3, page 77 of the Annual Report 2021
Download ad hoc announcement pursuant to Art. 53 LR
www.advaltech.com/en/group/investors/company-news/ad-hoc-notices
Publication of 2022 semi-annual report
The 2022 semi-annual report will be published at the same time as this ad hoc announcement:
http://www.advaltech.com/en/group/investors/reports/
Agenda
End of March, 2023 – Announcement of the results for the 2022 financial year
April 18, 2023 – Conference on the 2022 Annual Report
April 18, 2023 – Publication of the 2022 Annual Report
May 11, 2023 – General Meeting of Shareholders 2023
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. Headquartered in Switzerland, the Adval Tech Group operates a total of nine production plants. These are located in Switzerland, Germany, Hungary, China, Malaysia, Mexico and Brazil.
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
Except for the historical information contained herein, the statements in this ad hoc announcement are forward-looking statements that involve risks and uncertainties.