R. Stahl AG / Key word(s): Dividend/Change in Forecast
ADHOC RELEASE pursuant to Article 15 German Securities Trading Act (WpHG)
- The Supervisory Board and Executive Board of R. STAHL AG propose a dividend payment of EUR 0.60 per share for FY 2016
- Preliminary figures for Q1 2017 lead to refinement of the outlook for FY 2017
Waldenburg, April 20, 2017. The Supervisory Board and the Executive Board of R. STAHL AG today approved the financial statements for FY 2016. In addition, the Supervisory Board and Executive Board of R. STAHL AG decided to propose a dividend payment of EUR 0.60 per share (FY 2015: EUR 0.60) at the company's upcoming Annual General Meeting for FY 2016, to be held in Neuenstein, Germany, on June 2, 2017. This would result in a total dividend payout of around EUR 3.9 million and a dividend yield of 2.1 percent based on R. STAHL's share price at year-end. With this proposal shareholders participate in the significant earnings increase of the company. Thus, R. STAHL continues its shareholder-friendly dividend policy.
In addition, the Executive Board of R. STAHL also discussed the refinement of the outlook for FY 2017. The preliminary figures for the first quarter 2017 that are now available show the expected revival of demand in the oil and gas sector with an increase of order intake to EUR 75.8 million compared to the previous quarter (Q4 2016: EUR 67.4 million), as well as an increase of order backlog at the end of the first quarter 2017 to EUR 91.4 million (Q4 2016: EUR 80.7 million). In contrast, sales and earnings in the first quarter 2017 reflect the low order backlog at the end of 2016 and still lag behind the improving sentiment in the oil and gas sector. According to the preliminary figures for the first quarter 2017, R. STAHL has achieved sales of EUR 65.5 million (Q4 2016: EUR 73.3 million) and an EBIT pre exceptionals* of EUR -3.1 million (Q4 2016: EUR 0.5 million). Devaluations of receivables and inventories amounting to EUR 0.9 million contributed negatively to EBIT in the first quarter 2017.
The business development in the first three months of the current year confirms that a precise forecast for FY 2017 is still accompanied by a high degree of uncertainty due to the still tense situation in the oil and gas sector. Although an upturn can be seen in order intake and order backlog, however, visibility is still low. Furthermore, sales realization still lags behind the development of order intake. As a consequence, development of sales and EBIT in FY 2017 will be delayed relative to the development of order intake. Against this backdrop, R. STAHL refines its forecast as follows:
For FY 2017, the Executive Board expects an order intake in a range between EUR 295 million and EUR 305 million. Sales should come in between EUR 285 million and EUR 295 million while EBIT pre exceptionals is expected to be in a range between EUR 3.5 million and EUR 7.5 million.
* exceptionals: non-scheduled depreciation, impairment reversals, proceeds from the sale of non-current assets, restructuring charges, costs from portfolio activities
Dr. Thomas Kornek
E-mail: [email protected]
|Company:||R. Stahl AG|
|Am Bahnhof 30|
|Phone:||+49 (7942) 943-0|
|Fax:||+49 (7942) 943-4333|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange|
|End of Announcement||DGAP News Service|