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

2020. október 01., csütörtök, 09:54







DGAP-News: UET United Electronic Technology AG


/ Key word(s): Half Year Results/Miscellaneous






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








01.10.2020 / 09:54




The issuer is solely responsible for the content of this announcement.




  • Consolidated revenues of 16.665 mn EUR

  • EBITDA for the group positive with 0.691 mn EUR

  • Group earnings of -1.454 mn EUR

  • Continuation of the long-term investment and development plan despite the impairments and restrictions caused by the new coronavirus

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.

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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





 
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1138175  01.10.2020 



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