Inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014
Ekotechnika AG exceeds forecast for FY 2016/2017
13 November 2017 Ad hoc Announcements
- Interest in imported agricultural machinery in Russia continues to grow
- Sales revenues in excess of EUR 140 million expected
- Operating result (EBIT) improves to roughly EUR 10 million (previous year: EUR 5.3 million)
Walldorf, 13 November 2017 – According to preliminary figures, Ekotechnika AG (Primary Market; ISIN: DE000A161234), the German holding company of the EkoNiva-Technika Group, the largest dealer of international agricultural machinery in Russia, generated sales revenues of over EUR 140 million in the financial year 2016/17 (30 September) (previous year: EUR 117.2 million); this is above the projected range of EUR 117 million to EUR 120 million. The gross profit margin of 20.5% is on a par with the previous year. The operating result (EBIT) in the range of EUR 10 million (previous year: EUR 5.3 million) also exceeded the management's previous expectations of EUR 6 to 7 million.
The better-than-expected performance in the financial year 2016/17 is attributable to increased demand for imported agricultural machinery and the stable exchange rate. In the past financial year, Ekotechnika recorded a strong increase in incoming orders for tractors to 252 (+27%) and combines to 57 (+68%).
The final Annual Report 2016/17 of Ekotechnika AG will be published in February 2018.