DGAP-News: Einhell Germany AG: Preliminary financial figures for the first quarter 2019

Information of the Einhell Group

Preliminary financial figures for the first quarter 2019

Revenue and earnings before tax slightly below target

As part of the Munich Capital Market Conference, the Einhell Group will announce the preliminary figures for the first quarter of 2019.

The Einhell Group generated in the first quarter 2019 revenue of about EUR 157 million in comparison with the previous year of EUR 153.7 million. In financial year 2019, the generated revenue so far is slightly below planned revenue.

Earnings before tax will be around EUR 9.4 million and also slightly below budget. In the previous year earnings before tax amounted to EUR 11.7 million.

The reduction of the stock from the second half of 2018 year and the associated lower gross profit margins in a currently tough market environment are having a negative impact on earnings. The costs and expenses incurred so far have occurred as budgeted.

In the single month of April, fortunately, a new record turnover of EUR 60 million could be achieved (previous year: EUR 54.3 million).

Forecast:

For the financial year 2019, the Board of Directors is sticking to the previous forecast of revenue of around EUR 605 million and a pre-tax margin of around 6.6%. The reduction in stock from the previous year will be completed by the middle of the 2019 financial year. In the first quarter, high investments were also made in marketing, such as the TV campaign in the D/A/CH region and the cooperation with BWM i Motorsport. From these activities, the Board of Directors expects positive effects on revenue and image of the Einhell brand.

As already published, the market entry in the USA was completed. Einhell will be represented at the Las Vegas Hardware Show with our partner Snow-Joe.

Landau/Isar, 07 May 2019

The Board of Directors