DGAP-News: SHW AG / Key word(s): Annual Report/Forecast
SHW AG publishes its Annual Report 2020 and forecast for 2021
- Group sales of € 392.9 million (down 9.1 per cent on the previous year)
- EBITDA margin of 6.4 per cent within targeted corridor (6 to 8 per cent)
Aalen, 1 April 2021. SHW AG, one of the leading automotive suppliers of CO2-relevant pumps and engine components as well as composite brake discs, today published its annual report for fiscal year 2020.
"Nothing kept us on edge in 2020 like the coronavirus," says Wolfgang Plasser, CEO of SHW AG. "The effects were already felt at the beginning of the year at our Chinese location. Based on the first lessons learned here it was possible to take proactive action for the entire SHW Group at extremely short notice. A strong fourth quarter enabled us to achieve an acceptable result, which, after taking account of non-recurring expenses, allowed us to break even at an operating level."
Sales and EBITDA margin within guidance
Group sales in fiscal year 2020 of € 392.3 million and 9.1 per cent down on the previous year were slightly above the sales guidance issued in October of between € 370 million and € 390 million.
Consolidated EBITDA came to € 25.3 million compared to € 41.5 million in the previous year. At 6.4 per cent, the EBITDA margin was below the previous year's figure of 9.6 per cent.
Outlook 2021: margin of 8 per cent tpo 11 per cent expected
In light of the currently foreseeable macroeconomic climate, the Management Board of SHW AG forecasts Group sales in fiscal year 2021 to lie in a range of between € 420 million and € 460 million and the EBITDA margin to lie in a range between 8 and 11 per cent. The forecast is based on the assumption that the corona pandemic will not lead to any further major restrictions that could significantly impact the business of the Company.
Key financials for fiscal year 2020
The Company was established in 1365, making it one of the oldest industrial companies in Germany. Today, SHW AG is a leading automotive supplier, providing products that make a substantial contribution to reducing fuel consumption and, consequently, to lowering CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger vehicles (including circuit boards) and Truck & Off-Highway applications (e.g., trucks, agricultural and construction machinery, stationary engines and wind farms) as well as engine components. The Brake Discs business segment develops and produces monobloc ventilated brake discs made of cast iron and composite brake discs made of a combination of an iron friction ring and an aluminium pot. The SHW Group's customers include renowned automobile manufacturers, manufacturers of commercial, agricultural and construction vehicles as well as other suppliers to the automotive industry. Currently, the SHW Group has five production sites in Germany located in Bad Schussenried, Aalen-Wasseralfingen, Hermsdorf, Tuttlingen-Ludwigstal and Neuhausen ob Eck, plus sites in Brazil (São Paulo), China (Kunshan), Canada (Toronto) and Romania (Timişoara). With just over 1,600 employees, the Company achieved group sales of over € 392 million in the fiscal year 2020. Further information is available at www.shw.de.
This press release contains forward-looking statements that are based on current assumptions and forecasts made by the management of SHW AG. Various known and unknown risks, uncertainties and other factors can result in the actual results, financial position and development or performance of the Company deviating considerably from the appraisals specified here. The Company assumes no obligation to update future-oriented statements of this nature or adapt them to future events or developments.
This announcement is for information purposes only and does neither constitute an offer to sell, purchase, exchange or transfer any securities nor a solicitation of any offer to sell, purchase, exchange or transfer any securities. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent of any registration or an exemption from registration under the Securities Act. SHW AG does not intend to register any securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with this announcement.
|Phone:||+49 7361 502-1|
|Fax:||+49 7361 502-852|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange|
|EQS News ID:||1180661|
|End of News||DGAP News Service|