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UET United Electronic Technology AG releases consolidated financial report for first half of fiscal year 2020

·3-min read

DGAP-News: UET United Electronic Technology AG / Key word(s): Half Year Results/Miscellaneous
01.10.2020 / 09:54
The issuer is solely responsible for the content of this announcement.

Today, UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, provides their consolidated financial figures for the first half of the fiscal year from January 1st to June 30th 2020.

UET Group generated consolidated revenues of 16.665 mn EUR in the first half of the fiscal year 2020. Compared with the previous year, this represents a decline of 1.244 mn EUR or 7 %.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) were positive and amounted to 0.691 mn EUR (first half of 2019: 0.291 mn EUR).
EBIT (earnings before interest and taxes) amounted to -0.696 mn EUR (first half of 2019: -0.990 mn EUR).
The consolidated result of the first half of the fiscal year 2020 was -1.454 mn EUR. In the same period of the previous year consolidated net income amounted to -1.544 mn EUR.

On June 30th 2020, the cash funds of the UET Group amounted to 1.135 mn EUR.
The equity of the UET Group amounted to 4.136 mn EUR as of 30 June 2020.

The global spread of the new coronavirus and the associated containment measures lead to restrictions in operation and thus to demand, but also to a slowdown in installation and network expansion. This also changes the business development of the UET Group. A decline in sales and earnings as well as short-term changes in market conditions, ordering and call-off behavior are expected until mid of 2021.

In order to be able to better benefit from the existing and emerging long-term market opportunities which are arising, among others, from the expansion of mobile networks, increasing bandwidth demand, higher security and redundancy requirements, as well as possible effects of international trade conflicts, the investments in the development of products and markets will be continued and even accelerated in selected areas, such as gigabit systems for mobile networks. Those investments will affect the result. In the long term, however, it is part of the sustainable growth plan.

More financial data and general information can be found in the full report for the first half of the fiscal year 2020 (German version only), which will be available for download on October 1st 2020 on the company website (http://www.uet-group.com) under Investor Relations/ Financial Reports.



Contact:
UET United Electronic Technology AG
Frankfurter Straße 80-82
D-65760 Eschborn

Investor Relations
Sebastian Schubert
Tel: + 49 (0) 6196 777755-0
E-Mail: investor@uet-group.com


01.10.2020 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:

UET United Electronic Technology AG

Frankfurter Straße 80-82

65760 Eschborn

Germany

Phone:

+49 (0)6196-7777550

Fax:

+49 (0)6196-7777559

E-mail:

investor@uet-group.com

Internet:

www.uet-group.com

ISIN:

DE000A0LBKW6

WKN:

A0LBKW

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart

EQS News ID:

1138175


 

End of News

DGAP News Service

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