Continued growth with stable profitability in 2017

The Neutraubling-based company continued its stable growth in 2017. Revenue increased 8.8 per cent year-on-year from EUR 3,391 million to EUR 3,691 million. Adjusted for acquisitions, revenue was up 7.2 per cent year-on-year. Order intake was up 10.0 per cent year-on-year to EUR 3,787 million in 2017. Adjusted for acquisitions, the increase was 7.1 per cent. At the end of 2017, the company had orders on hand totalling EUR 1,240 million, which is 8.3 per cent more than the previous year.

The company further increased earnings before taxes (EBT) as forecast in 2017. EBT improved 8.9 per cent year-on-year to EUR 259 million. The EBT margin remained stable at 7.0 per cent, as in the year-earlier period. Thus, the manufacturer of filling and packaging technology met its EBT margin target for 2017.

The ratio of average working capital for the past four quarters to revenue was up from 26.7 per cent in the previous year to 27.3 per cent in 2017. The target for 2017 was 27 per cent. The company is not satisfied with the development of free cash flow, which decreased to -EUR 151 million (2016: + EUR 49 million). As a result, net cash and cash equivalents decreased to EUR 157 million (previous year: EUR 369 million). The company's equity ratio improved to 43.8 per cent (previous year: 39.9%). Overall, the company continues to possess a very robust financial and capital structure.

All figures stated here are provisional and may change following completion of the audit.

Based on the current macroeconomic prospects and developments in the markets relevant to the company, they expect consolidated revenue to grow by six per cent in 2018. Profitability is expected to remain stable despite investment in digitalisation and start-up costs. The company expects to post an EBT margin of 7.0 per cent in 2018. The company’s third financial performance target, working capital to revenue, is expected to improve to 26 per cent.