Elma grows and invests in its future: Interim Results as of June 30, 2019 Montag, 12. August 2019 - 06:09
CH-Wetzikon, August 12, 2019
The Elma Group continued its growth strategy in the first half of 2019, increasing order income and net sales year-on-year. The implementation of the previously announced Vision 2020 in the US was further advanced. The investments in a modern industrial sheet metal production will however substantially strengthen the Elma Group in the long-term; the related relocation and financing cost were mainly responsible for a temporarily lower profitability. In addition, significantly higher project cost on complex customer projects in the Europe region have resulted in Elma closing the first half of the year with a lower net profit compared with the previous year.
- Order income strongly increased by 14.0% to CHF 83.3 million
- Net sales grew by 1.1% to CHF 73.3 million
- EBIT of CHF 2.2 million (previous year: CHF 3.3 million) and net profit of CHF 1.7 million (previous year: CHF 2.4 million) below prior year mainly due to relocation and financing expenses
- Net debts increased from CHF 17.5 million as at December 31, 2018 to CHF 26.6 million due to high investments
- Equity ratio of 40.3% slightly lower than at year-end 2018 (43.8%)