R. STAHL finishes 2019 with further significant earnings improvement according to preliminary figures

  • Sales of presumably €274.8 million slightly below prior year as expected
  • EBITDA pre exceptionals doubled to €30.4 million, margin increases to 11.0%
  • Net profit raised by €8.2 million to €1.2 million

Waldenburg, 21 February 2020 - R. STAHL, leading supplier of products and systems for explosion protection, today publishes preliminary figures for 2019. Sales of €274.8 million were generated in line with the current outlook of €275 million. This represents a slight 1.9% decrease compared to the prior year (2018: €280.1 million). In the period under review, the continued successful execution of the efficiency program R. STAHL 2020 that was started in 2018 again led to a significant improvement of earnings before interest, taxes, depreciation and amortization (EBITDA) pre exceptionals, doubling to €30.4 million (2018: €15.2 million), also in line with the recently slightly lifted guidance of >€30 million. As a result, EBITDA pre margin increased to 11.0% (2018: 5.4%). The new accounting rule for lease liabilities IFRS 16, which is to be used mandatorily since 2019, also contributed to this. Driven by the structural improvements, net profit raised by €8.2 million to €1.2 million (2018: €-7.0 million).

Cost reductions and a higher sales quality led to a decrease of the cost of materials ratio to 33.8% (2018: 35.9%). In addition, profitability benefited from a decline of the restructuring charges by €2.2 million and a €7.6 million contribution from the new accounting rule for lease liabilities. With €6.0 million, exceptionals in the period under review were at prior year's level (2018: €6.2 million). However, it should be taken into account that 2018 included an exceptional income of €2.5 million from the sale of properties no longer required for business operations.
The figures and forward-looking statements in this press release relating to 2019 are preliminary. R. STAHL will give an outlook for 2020 together with the release of its audited Annual Report 2019 on 21 April 2020.

Key figures of the R. STAHL Group pursuant to IFRS








-1,9 %

EBITDA pre exceptionals3)




     in % of sales












Net profit




Employees as of 31 December4)





1) Preliminary figures; the final and full figure set as well as the Annual Report 2019 will be released on 21 April 2020.

2) 2019 inklusive der Effekte aus der Erstanwendung von IFRS 16

3) Exceptionals: restructuring charges, non-scheduled depreciation and amortization, charges for design and implementation of IT projects, M&A costs as well as profit and loss from the disposal of non-current assets no longer required for business operations. Exceptionals were first disclosed in the reporting year 2016.

4) Excl. apprentices

Percentages and figures may include rounding differences. The signs used to indicate rates of change are based on economic aspects: improvements are indicated by a "+" sign, deteriorations by a "-" sign. Rates of change >+100% are shown as >+100%, rates of change < 100% as "n/a" (not applicable).

Financial calendar 2020

21 April                      April Release of the Annual Report 2019

14  Mai                      Interim Report Q1 2020

28 Mai                       Annual General Meeting in Künzelsau- Gaisbach

06 August                  Report on the first half year 2020

12 November            Interim Report Q3 2020

About R. STAHL - www.r-stahl.com
R. STAHL is the world's leading supplier of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio ranges from products used in switching/distributing, installing, operating/monitoring, lighting and signalling/alarming up to automation. Typical customers are the oil & gas industry, the chemical and pharmaceutical industry and the food industry. In 2019, global sales amounting to about €275 million were generated by 1,669 employees. The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).

Forward-looking statements
This release contains forward-looking statements based on assumptions and estimates of R. STAHL's management. Although we assume that the expectations of these forward-looking statements are realistic, we cannot guarantee that these expectations will prove to be correct. The assumptions may involve risks and uncertainties that could cause the actual results to differ materially from the forward-looking statements. Factors that may cause such discrepancies include: changes in the macroeconomic and business environment, exchange rate and interest rate fluctuations, the roll-out of competing products, a lack of acceptance of new products or services, and changes in business strategy. R. STAHL does not plan to update these forward-looking statements nor does it accept any obligation to do so.

The contents of this press release are intended to address all genders. For the sake of readability and without any intent to discriminate, only the male form is used.




Am Bahnhof 30, 74638 Waldenburg (Württ.)


Dr. Thomas Kornek

Senior Vice President Investor Relations & Corporate Communications

T: +49 7942 943-1395

E : [email protected]