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Zumtobel Group AG
Ansprechpartner: Eric Schmiedchen
Tel.: +43 5572 509 1125
E-Mail: eric.schmiedchen@zumtobelgroup.com

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Zumtobel Group AG: Zumtobel Group on good course in new financial year


Dornbirn (pta011/07.09.2021/07:30) - Results for the first quarter of the 2021/22 financial year (1 May 2021 to 30 April 2022) show a clear stabilisation in revenues for the Zumtobel Group, which has now returned to the development recorded before the pre-crisis year in 2019/20. Group revenues rose by 15.4% to
EUR 289.3 million and nearly reached the 2019/20 level of EUR 296.4 million. At EUR 20.1 million, EBIT nearly tripled over the first quarter of 2020/21 (EUR 7.0 million), which was heavily influenced by the corona pandemic, and was also substantially higher than the EBIT of EUR 15.4 million recorded in the first quarter of the pre-crisis year in 2019/20. Net profit more than quadrupled year-on-year with an increase from EUR 3.1 million to EUR 13.4 million.

"After nearly one and a half years of an extraordinary situation across the world, the Zumtobel Group is again on course with sound results," explained Alfred Felder, CEO of the Zumtobel Group .

After an adjustment for foreign exchange effects, revenues recorded by the Zumtobel Group rose by 15.1% in the first quarter. Revenues in the Lighting Segment increased by 12.0% to EUR 212.4 million. The year-on-year increase in revenues in the Components Segment was substantially higher at 26.1%, whereby this positive development was supported in part by a special effect: Many customers made massive restocking purchases during the first quarter, which is expected to lead to weaker revenue development in this segment during the coming quarters.

The D/A/CH countries, the strongest region for the Zumtobel Group, recorded an increase of 4.8% in revenues for the first quarter. Double-digit growth was also reported in other core markets like Great Britain, France and Italy, which were hard hit by the pandemic in the past.

Net profit quadruples
The positive development of revenues supported an increase in Group EBIT from EUR 7.0 million in the first quarter of the previous year to EUR 20.1 million, despite an increase of EUR 9.3 million in selling and administrative expenses (incl. research) to EUR -80.2 million. This increase resulted, above all, from the absence of short-time work. Other negative effects included higher customs charges in connection with Brexit and increased outgoing freight charges. In total, the return on sales improved from 2.8% to 6.9%.

Net profit quadrupled from EUR 3.1 million in the previous year to EUR 13.4 million. For the shareholders of the Zumtobel Group, this represents earnings per share (basic EPS based on 43.1 million shares) of
EUR 0.31 (Q1 2020/21: EUR 0.07). In contrast, free cash flow declined from EUR -2.4 million in the first quarter of 2020/21 to EUR -9.1 million, chiefly due to negative foreign exchange effects.

The balance sheet structure of the Zumtobel Group remains stable and nearly unchanged compared with 30 April 2021. The equity ratio equalled 32.8% as of 31 July 2021 and was slightly higher than the balance sheet date on 30 April 2021. Net debt increased by EUR 10.6 million over the level on
30 April 2021 to EUR 107.9 million.
"These sound results were supported by consistent efficiency improvement in recent years and by the steady pursuit of our corporate strategy, whereby the product portfolios of the Zumtobel and Thorn brands were adjusted to reflect the two-brand strategy," added Alfred Felder. Sustainability will receive greater attention during the 2021/22 financial year and will be increasingly integrated into everyday actions. The sustainability team has been substantially reinforced. It bundles the necessary expertise from all relevant departments and is responsible for defining and implementing the essential processes.

Outlook confirmed
The corona crisis is still not over, which means a certain degree of uncertainty over the development of the global economy will continue to exist in the coming months. The situation on the raw materials market also remains difficult for producing companies like the Zumtobel Group. In particular, the shortage of semiconductors and raw materials like steel and aluminium create substantial challenges. This limited availability was responsible for a reduction in capacity utilisation in the Zumtobel Group's production facilities. The company is also confronted with rising transport costs and a decline in transport capacity.

The Management Board of the Zumtobel Group confirms the outlook and expects an increase of 4% to 7% in revenues and an EBIT margin of 4% to 5% for the 2021/22 financial year.

(end)
emitter: Zumtobel Group AG
Höchster Straße 8
6850 Dornbirn
Austria
contact person: Eric Schmiedchen
phone: +43 5572 509 1125
e-mail: eric.schmiedchen@zumtobelgroup.com
website: z.lighting
stock exchanges: official trade in Vienna
ISIN(s): AT0000837307 (share)
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