DGAP-News: UET United Electronic Technology AG / Key word(s): Half Year Results/Miscellaneous
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).
On June 30th 2020, the cash funds of the UET Group amounted to 1.135 mn EUR.
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.
01.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
UET United Electronic Technology AG
Frankfurter Straße 80-82
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Stuttgart
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