Bauwerk Group AG / Key word(s): Annual Results
BAUWERK GROUP: Good results due to efficiency and cost measures
Currency-adjusted turnover of the Bauwerk Group in the 2020 financial year was 3.5% below the previous year. The decline in volumes, which was mainly due to the pandemic, amounted to 6.3%. Nevertheless, the Bauwerk Group achieved encouraging increases in operating results thanks to further progress in material efficiency and productivity as well as the rapidly introduced cost adjustments made necessary by the Covid-19 pandemic. The EBITDA margin was expanded by 140 basis points to 11.9% and the EBIT margin to 7.4% (previous year 6.3%). Net income decreased to CHF 11.8 million (previous year CHF 12.9 million) due to negative exchange rate effects in the financial result as well as higher tax expenses, whereas the previous year's figure had benefited from one-off tax effects.
St. Margrethen, 22 April 2021 - Consolidated net turnover of the Bauwerk Group in the year under review amounted to CHF 261.4 million, 7.1% below the previous year (CHF 281.4 million). Adjusted for significant negative currency differences when applying the previous year's exchange rates, the decline in turnover was 3.5%. Thanks to the measures initiated in previous years to increase site efficiencies, short-time lower material costs and the effects of pandemic-related cost-cutting measures and adjustments, the Group succeeded in achieving encouraging improvements in operating margins in a reporting year dominated for much of it by the Covid-19 pandemic. The currency adjusted operating result before depreciation and amortization (EBITDA) amounted to CHF 32.9 million, corresponding to a margin of 12.6% (previous year: 10.9%).
New Group name
Consistently implemented efficiency measures pay off
Adjusted for negative currency effects, EBITDA amounted to CHF 32.9 million, corresponding to an EBITDA margin of 12.6% (previous year 10.9%). The operating result after depreciation and amortization (EBIT) amounted to CHF 19.5 million or 7.4% of net sales, compared to CHF 17.6 million or an EBIT margin of 6.3% in the previous year (plus 110 basis points). Adjusted for the aforementioned currency effects, EBIT was CHF 20.8 million or 7.7% of net sales (previous year 6.6%). Net income of CHF 11.8 million was 8.8% below the previous year (CHF 12.9 million), mainly because of a higher negative financial result due to negative exchange rate effects and a tax burden of close to CHF 2 million, whereas in the previous year one-off tax effects had been positive.
Declining market developments
Cash Flow and financing
After repayment of net liabilities, including the subordinated shareholder loan, by a total of CHF 17.5 million, cash and cash equivalents increased by CHF 20.7 million to CHF 34.5 million (previous year CHF 13.8 million). The equity ratio including the subordinated shareholder loan improved to 46.0% as of the balance sheet date (previous year 45.0%). Thus, the balance sheet and financial ratios of the Bauwerk Group as of 31 December 2020 remain solid.
The economic projections and predictions contained in this information relate to future facts. Such projections and predictions are subject to risks, uncertainties and changes which cannot be foreseen and which are beyond the control of Bauwerk Group. Bauwerk Group is therefore not in a position to make any representations as to the accuracy of economic projections and predictions or their impact on the financial situation of Bauwerk Group or the market in the securities of Bauwerk Group.
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Bauwerk Group AG
9430 St. Margrethen
+41 71 7477474
+41 71 7477423
SIX Swiss Exchange
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