Yesterday STEMMER published its H1 FY18/19 results, posting c. 7 % year-on-year growth in sales to €50.7m. After adjusting for the acquisition of ELVITEC S.A.S. and STEMMER’S transition to IFRS standards, the company generated an adjusted EBITDA of €4.0m.
STEMMER highlights that the positive trend in order volume exceeds the industrial imaging sector average, where revenues stagnated or fell slightly in 2018. Thanks to its partnership with Nanjing Inovance Industrial Vision Technology in China signed in August 2018, the company was able to expand its sales beyond Europe. In February 2019, STEMMER closed the acquisition of a software company, the Austrian Perception Park GmbH.
The company’s Management expects FY19 sales at €108-114m and adjusted EBITDA at €10-12.2m. According to STEMMER, the figures will be backed with strong incoming order developments as well as positive effects from the ELVITEC acquisition that will unfold in H2 FY18/19.
Lars Böhrnsen, STEMMER’s CFO, commented that “Should there be no further deterioration in the macroeconomic situation, we are optimistic about the future. Acquisitions will continue to play a key role as part of our expansion strategy. In this respect, the current environment offers us an array of attractive opportunities that we shall examine carefully.”