UET United Electronic Technology AG releases consolidated financial report for first half of fiscal year 2019

Consolidated revenues of 17.908 mn EUR

EBITDA for the group positive with 0.291 mn EUR

Group earnings of -1.544 mn EUR

Target for growth and earnings for 2019 will remain unchanged

Today, UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases the consolidated financial figures for the first half of the fiscal year from January 1st to June 30th 2019.

In the first half of the fiscal year 2019, the UET-Group generated consolidated revenues of 17.908 mn EUR - adjusted by one-time effects in the previous year and reflecting the core operating business, this corresponds to a decrease of 0.928 mn EUR or 5 %.

Revenue development of the UET Group was in line with expectations in the first half of 2019. As a result of long delivery times on the buying side and limited financial resources, components and raw materials were not available as needed, resulting in a backlog of supplies and in lower shipping volumes and revenues.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) were positive and amounted to 0.291 mn EUR (first half of 2018: 3.872 mn EUR).

EBIT (earnings before interest and taxes) amounted to -0.990 mn EUR (first half of 2018: 2.989 mn EUR).

The consolidated result of the first half of the fiscal year 2019 was -1.544 mn EUR. In the same period of the previous year, consolidated net income after adjustment for one-time effects of deconsolidation amounted to 0.175 mn EUR.

On June 30th 2019, the cash funds of the UET Group amounted to 2.049 mn EUR.

Based on the actual production volume and production output, decreasing delivery times, availability and secured availability of components and the actual order backlog the two-digit growth target paired with positive and improved earnings for the full fiscal year 2019 are kept.

More financial data and general information can be found in the full report for the first half of the fiscal year 2019 (German version only), which will be available for download on September 30th 2019 on the company website (http://www.uet-group.com) under Investor Relations/ Financial Reports.

Contact:

UET United Electronic Technology AG

Frankfurter Stra e 80-82

D-65760 Eschborn

Sebastian Schubert

Tel: + 49 (0) 6196 777755-0

E-Mail: investor@uet-group.com

LINK:	https://www.aconnic.com/ir-news-2019-09-27/...
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