Last Friday, SNP announced its FY18 results, posting a 7% increase in sales to €131m, driven by acquisitions made during the year. EBITDA decreased to €2.3m from €3.3m in FY17 and software license sales of SNP’s in-house products were lower than expected.
However, in the period, SNP improved its free cash flow (FCF) from -€41.5m in the previous year, to -€8.7m in FY18. SNP also points out that in the period it increased its capital by €17m and reduced its net debt from €6.9m to €0.9m.
SNP comments that thanks to measures aimed at improving profitability and the dissolution of purchase price liabilities its EBIT margin in H218 increased to 5.3% vs. -9.2% in H118.
For FY19, SNP expects sales at €145-150m, EBIT margin in the lower to mid-single-digit percentage range and an EBITDA margin in the mid to upper-single-digit percentage range.
Dr. Andreas Schneider-Neureither, SNP’s CEO, commented that “In view of our progress with our corporate structures and the corresponding increase in capacity for customers, the unchanged strong market and order situation, and our international sales and software strategy, we anticipate stable business development in the current fiscal year.”