UET United Electronic Technology AG releases consolidated financial results for the fiscal year 2019

Consolidated revenues of 46.454 mn EUR

EBITDA amounts to 6.223 mn EUR

Earnings per share of 0.23 EUR

Cash flow amounts to -2.285 mn EUR

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases its financial results for the fiscal year 2019.

Consolidated revenues of the UET Group amounted to EUR 46.454 million in the financial year 2019 (previous year: EUR 39.026 million). The growth of about 19% has been generated in the Business Division SYSTEMS with its Core Networks unit and increase in MANAGED SUPPLY business.

For the financial year, the UET Group reports EBITDA (earnings before interest, taxes, depreciation and amortization) in the amount of EUR 6.223 million (previous year: EUR 6.522 million). Earnings before interest and taxes EBIT amounted to EUR 3.624 million (previous year: EUR 4.574 million). Previous 2018 results included non-operating earnings from the spin-off of the MANUFACTURING unit in the amount of EUR 2.130 million.

As in the previous year, results include caplitalised spending for research and development assets.

The net profit after tax attributable to UET shareholders amounted to EUR 3.318 million in 2019. Considering the capital increase of EUR 2.0 million that has been closed 2019 and the repurchase of all minorities, the corresponding earnings per share is EUR 0.23 (previous year: EUR 0.29).

The equity of UET increased as of December 31, 2019 by EUR 4.444 million to EUR 5.605 million (previous year: EUR 1.161 million).

The reported operating cash flow in 2019 was EUR -2.285 million compared with EUR 3.727 million in the previous year. An essential part of the cash flow development included the expansion of business activities after the fundraising leading to increased capital employed in inventories and trade receivables, primarily in the SYSTEMS division. Liabilities from ongoing business activities have been reduced in 2019.

At the end of the financial year 2019, cash and cash equivalents in the Group amounted to EUR 4.036 million (previous year: EUR 0.585 million).

The Annual General Meeting will take place on 28 August 2020 in Eschborn. The invitation to the Annual General Meeting will be published in the German Bundesanzeiger by 17 July 2020.

The annual report and the annual group report 2019 (German version only) will be released on the company's website (www.uet-group.com) under Investor Relations/Financial as of June 30th, 2020.

Contact:

UET United Electronic Technology AG

Frankfurter Stra e 80-82

D-65760 Eschborn

Sebastian Schubert

Investor Relations

Tel: + 49 (0) 6196 777755-0

E-Mail: investor@uet-group.com

LINK:	https://www.aconnic.com/ir-news-2020-06-30/...
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