Ad-hoc: United Labels AG: Results for FY 2019

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Ad-hoc announcement by United Labels AG dated 7 April 2020
ISIN: DE 0005489561, WKN: 548956, Ticker: ULC

 

United Labels AG: Results for FY 2019

 

Revenue and earnings impacted by Spanish subsidiary

Higher order intake relating to German business despite corona pandemic

 

  • Group revenue totals EUR 21.1 million (prev. year: EUR 25.9 million)
  • EBIT stands at EUR -2.7 million (prev. year: EUR 1.8 million) after exceptional items
  • Order backlog rises by 84% to EUR 8.1 million in first quarter of 2020

 

Muenster, 07/04/2020. United Labels AG (ISIN: DE 0005489561, WKN: 548956) recorded consolidated revenue of EUR 21.1 million (prev. year: EUR 25.9 million) in the 2019 financial year.

The decline in revenue was attributable to the discontinuation of the Spanish subsidiary, which saw revenue fall by EUR 6.1 million to EUR 7.6 million (prev. year: EUR 13.7 million), a downturn that could not be fully offset by revenue growth generated by the other entities. Continuing operations saw revenue increase to EUR 13.5 million (prev. year: EUR 12.2 million).

 

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR 0.4 million (prev. year: EUR 2.2 million), while EBIT stood at EUR -2.7 million (prev. year: EUR 1.8 million). Both were influenced by non-recurring exceptional factors relating to the closure of the Spanish subsidiary. In accordance with IFRS, a loan waived by the Management Board in the amount of EUR 2.1 million was not recognised in profit and loss but was posted directly to equity with no effect on profit and loss. Taking this effect into account, EBIT from continuing operations stood at EUR -0.3 million (prev. year: EUR 0.9 million) and EBITDA amounted to EUR 0.0 million (prev. year: EUR 1.0 million).

 

With the exception of the discontinued entity United Labels Iberica, all operating subsidiaries within the Group recorded a profit in the 2019 financial year.

 

Order backlog was up by 12.7% at EUR 8.0 million as at 31 December 2019 (prev. year: EUR 7.1 million). In continuing operations (excluding Spain), order backlog was up by 29% (prev. year: EUR 6.2 million, excluding Spain).

 

The company is monitoring the effects of the coronavirus pandemic very closely and has initiated appropriate measures in the various areas of its business. However, there were no delivery shortfalls or order cancellations in the first quarter just ended.

Due to consistently solid order intake, the order backlog was actually up by 84% as at 31 March 2020, taking the total to EUR 8.1 million (prev. year: EUR 4.4 million).

 

Further new merchandise themes are planned for 2020, in addition to an expansion of existing brand ranges. The first shipments of the new music brands ACDC and KISS are scheduled for April/May. An extensive product range centred around the new themes of "Baby Shark" and "Grummeleinhorn" is planned for the second half of the year.

 

The complete annual financial statements including further explanations, also with regard to the possible effects of the coronavirus pandemic, will be made available at the end of April with the publication of the annual report.

 

http://www.unitedlabels.com/en/investor-relations/financial-reports

 

UNITEDLABELS AG is an exchange-listed, family-run SME and one of Europe's leading manufacturers of branded goods in the Media/Entertainment segment. As an independent enterprise, it has established business partnerships with the world's key media and entertainment companies as well as with major retailers operating within the chain store, specialist retail and discount markets.

 

Further information:
United Labels AG – Investor Relations -
Gildenstraße 6, 48157 Münster, Tel.: +49 (0) 251-3221-0, Fax: +49 (0) 251-3221-960
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