Unior 9M 2019 Results

In the first nine months of 2019, the company recorded an increase in sales of 4.7%, increase in EBITDA of 6.7% and a decrease in net profit of 4.1%

As Unior Group published their H1 2019 report, we are bringing you key takes from it. According to the report, the company reported sales of EUR 192.4m, representing an increase of 4.7% YoY or EUR 8.6m.

On an unconsolidated level, Unior d.d generated EUR 132.9 million in net sales, representing an increase of 4.7% YoY. Unior operates in the forgings industry, which supplies its products almost exclusively to the automotive industry. During the first nine months, but more pronounced in the first quarter, Unior was facing slightly lower order status, driven by a 5% decline in car sales worldwide. Consequently, they produced 4.5% YoY less of forgings. The largest increase in revenue was witnessed on the Mechanical engineering segment, where this year the dynamics and value of sales are completely different from last year, rising by 67% or 5.9m (in line with the plan) and amounted to EUR 14.7m.

When observing operating expenses on a Group level, they amounted to EUR 198.4m (+2.6% or EUR 4.7m). Such an increase could mostly be attributed to higher material costs by EUR 2.4m and higher amortization.

Going further down the P&L, EBITDA amounted to 24.87m representing a solid increase of 6.7%. As a result, EBITDA margin stood at 12.92% (+0.33 p.p. YoY). Operating profit amounted to EUR 12.5m, showing an increase of 1.7% YoY.

Despite the solid top-line growth, the company recorded a decrease in net profit of 4.1%, amounting to EUR 9.7m. Such a result puts the profit margin at 5% (-0.5 p.p. YoY). The decrease came on the back of a lower net financial result by EUR 0.77m.

Turning our attention to CAPEX, the Group recorded new investment in buildings of EUR 11.3m in the first nine months of 2019.

Category : Flash News

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