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R. STAHL further reduces net debt through higher outsourcing of trade receivables and strengthens balance sheet

·4-min read

DGAP-News: R. Stahl AG / Key word(s): Contract
02.02.2021 / 10:00
The issuer is solely responsible for the content of this announcement.

R. STAHL further reduces net debt through higher outsourcing of trade receivables and strengthens balance sheet

Waldenburg, 2 February 2021 - R. STAHL continues to drive the outsourcing of trade receivables and the reduction of net debt. The factoring agreement concluded last year, which has a term of five years, significantly increases the potential factoring volume from the previous €14 million to €35 million at significantly lower costs.

"Following the conclusion of the new syndicated loan agreement in December 2019, we are taking the next step towards cost- and structure-optimized group financing with the now newly concluded factoring agreement," said Dr Mathias Hallmann, CEO of R. STAHL. "We are thus further increasing our financial stability and creating additional flexibility to finance growth, which, supported by the current macroeconomic forecasts, we also expect in our business for 2021," Dr Hallmann continued.

Compared to the previous factoring conditions, the newly concluded factoring agreement results in an annual cost saving for R. STAHL of around 100 basis points. At the same time, the full utilization of the new factoring volume will have a significant positive impact on the already low net debt as well as on a rising equity ratio.

Philipp Öhler, Head of Group Treasury, Tax, Assurance and Risk Management at R. STAHL, adds: "With the new factoring agreement, we simultaneously increase our liquidity reserve and reduce our risk profile. The financing costs are lower than the already very attractive conditions of our syndicated loan agreement."

The transfer of the previously outsourced trade receivables to the new factoring partner was started at the end of 2020. The utilization of the new factoring volume will be successively expanded in the current year.

 

About R. STAHL - www.r-stahl.com
R. STAHL is the world's leading supplier of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and contribute to the safety of people, machines and the environment. The portfolio ranges from products used in switching/distributing, installing, operating/monitoring, lighting and signalling/alarming up to automation. Typical customers are the oil & gas industry, the chemical and pharmaceutical industry and the food industry. In 2019, global sales amounting to about €275 million were generated by 1,669 employees. The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).

Forward-looking statements
This release contains forward-looking statements based on assumptions and estimates of R. STAHL's management. Although we assume that the expectations of these forward-looking statements are realistic, we cannot guarantee that these expectations will prove to be correct. The assumptions may involve risks and uncertainties that could cause the actual results to differ materially from the forward-looking statements. Factors that may cause such discrepancies include: changes in the macroeconomic and business environment, exchange rate and interest rate fluctuations, the roll-out of competing products, a lack of acceptance of new products or services, and changes in business strategy. R. STAHL does not plan to update these forward-looking statements nor does it accept any obligation to do so


The contents of this press release are intended to address all genders. For the sake of readability and without any intent to discriminate, only the male form is used.




Contact:
R. STAHL AG
Dr. Thomas Kornek
Senior Vice President Investor Relations & Corporate Communications
Am Bahnhof 30
74638 Waldenburg (Württ.)
Germany

Tel. +49 7942 943-1395
investornews@r-stahl.com


02.02.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

R. Stahl AG

Am Bahnhof 30

74638 Waldenburg

Germany

Phone:

+49 (7942) 943-0

Fax:

+49 (7942) 943-4333

E-mail:

investornews@stahl.de

Internet:

www.r-stahl.com

ISIN:

DE000A1PHBB5

WKN:

A1PHBB

Listed:

Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange

EQS News ID:

1165030


 

End of News

DGAP News Service

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