Today Scherzer & Co. announced a net loss figure for FY18 amounting to €0.9m (EPS €-0.03). The company revealed that the Management Board and Supervisory Board will not recommend any dividend payment for the AGM to be held on 13 May 2019.
The company’s results are significantly down from €7.9m (EPS €0.26) earned in FY17. In January, Scherzer already reported the preliminary results at EBIT and EBT level of €0.9m (-89% y-o-y) and €0.7m (-91% y-o-y), respectively. During FY18, Scherzer NAVPS declined 12% year-on-year (including dividend).
It is likely that the main reason behind the decrease was negative market sentiment in German equities during the second half of 2018 (with DAX decreasing 14% in the period). In H118, Scherzer reported low double digit growth in results on y-o-y basis with net income of €5.3m (+19% y-o-y).
From the record-high results in FY17, Scherzer paid out a DPS of €0.10, including €0.05 of base dividend, and a €0.05 bonus.