Francotyp-Postalia Holding AG
- WKN: FPH900
- ISIN: DE000FPH9000
- Land: Deutschland
Nachricht vom 16.05.2019 | 07:59
Francotyp-Postalia Holding AG: FP shows strong growth in software business in first quarter of 2019
DGAP-News: Francotyp-Postalia Holding AG / Key word(s): Quarter Results/Quarterly / Interim Statement
FP shows strong growth in software business in first quarter of 2019
Berlin, 16 May 2019 - Francotyp-Postalia (FP), the expert in secure mail business and secure digital communication processes, has today published its figures for the first quarter of 2019. The company generated revenue of EUR 52.1 million in the first three months of 2019 after EUR 53.0 million in the same period of the previous year. Adjusted for positive currency effects and expenses for the JUMP transformation project, EBITDA amounted to EUR 7.4 million against EUR 7.6 million in the same period of the previous year.
Revenue in the Franking and Inserting segment amounted to EUR 33.0 million as against
The Software segment is developing positively with double-digit growth. Revenue climbed by 22.7% to EUR 4.7 million in the first quarter of 2019 after EUR 3.8 million in the same period of the previous year. FP has steadily expanded the range of services in this segment as part of its growth strategy ACT and is now benefiting from this. This positive development has been driven by both hybrid mail services and solutions for secure, fully digital communication and the Internet of Things (IoT).
The thin-margin Mail Services segment reported a significant drop in revenue of 15.7% to
Rüdiger Andreas Günther, CEO of the FP Group, said: "We have made systematic progress in our transformation in the first quarter of 2019, but had a number of challenges to overcome, such as the simultaneous implementation of JUMP. The Software segment is building momentum. We are working flat out to make headway with the expansion of our digital solutions in order to meet the planned growth targets for 2019 and 2020. We have taken the necessary steps in Mail Services and are aiming to get back on track for success."
Adjusted EBITDA down slightly year-on-year
The positive effect on EBITDA of the adoption of the new IFRS 16 standard in the first three months of 2019 of EUR 1.0 million was offset almost entirely by amortisation on right-of-use assets of
In total, depreciation, amortisation and write-downs rose by EUR 1.3 million to EUR 5.6 million in the first quarter of 2019, in part due to higher amortisation on intangible assets. EBIT therefore totalled EUR 1.3 million after EUR 3.2 million in the same period of the previous year. At EUR 1.2 million, consolidated net income for the first quarter of 2019 fell short of the figure of EUR 2.2 million in the same quarter of the previous year. Earnings per share (EPS) amounted to 8 cents as against
The company generated free cash flow of EUR 2.9 million (Q1/2018: EUR 2.6 million) in the first three months. Adjusted for investments in finance lease assets and M&A, and for expenditure for the ACT project JUMP, the FP Group generated a free cash flow of EUR 7.4 million as against
Günther explained: "We are only somewhat satisfied with the first quarter of 2019. We are on the right path with our ACT growth strategy, as shown by the successes in our core business and the Software segment. However, Mail Services in particular has to do better in the coming quarters. At the same time, we are continuing the systematic implementation of the JUMP project in order to get our organisation as a whole ready for profitable growth in the years ahead. A transformation such as this takes time, but I feel confidently that our efforts will pay off in the next few quarters."
The company is confirming its forecast for fiscal year 2019. After an uneven start, the company is expecting strong revenue and earnings growth in the second half of the year in particular. The FP Group anticipates a strong increase in revenue in fiscal 2019, with a positive performance in all three segments in the second half of the year. Adjusted for expenses for the ACT project JUMP, the company also expects strong year-on-year growth in EBITDA.
Expenses of a low seven-figure amount are projected for the key ACT project JUMP in 2019. At the same time, the company in anticipating further positive effects from JUMP for 2019. With investments in ACT and new products again set to be at a high level on par with the previous year, the FP Group anticipates that the free cash flow for fiscal 2019 will be positive yet considerably lower than in the previous year after investments in finance lease assets and M&A and expenditure for the ACT project JUMP.
The anticipated development of the financial performance indicators for fiscal 2019 is based on the assumption of constant exchange rates. The goal for fiscal 2020 is still for a revenue of
Key figures at a glance:
Karl R. Thiel, VP of Corporate Communications
Francotyp-Postalia Holding AG
Telephone: +49 (0)30 220 660 410
Telefax: +49 (0)30 220 660 425
|Company:||Francotyp-Postalia Holding AG|
|Prenzlauer Promenade 28|
|Phone:||+49 (0)30 220 660 410|
|Fax:||+49 (0)30 220 660 425|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||812121|
|End of News||DGAP News Service|