Ekotechnika AG, DE000A161234

Ekotechnika AG, DE000A161234

13.11.2017 - 15:28:27

Ekotechnika AG exceeds forecast for FY 2016/2017

Ekotechnika AG exceeds forecast for FY 2016/2017

Interest in imported agricultural machinery in Russia continues to grow Sales revenues in excess of EUR 140 million expected Operating result (EBIT) improves to roughly EUR 10 million (previous year: EUR 5.3 million)

Walldorf, 13 November 2017 - According to preliminary figures, Ekotechnika AG (Primary Market; ISIN: DE000A161234), the German holding company of the EkoNiva-Technika Group, the largest dealer of international agricultural machinery in Russia, generated sales revenues of over EUR 140 million in the financial year 2016/17 (30 September) (previous year: EUR 117.2 million); this is above the projected range of EUR 117 million to EUR 120 million. The gross profit margin of 20.5% is on a par with the previous year. The operating result (EBIT) in the range of EUR 10 million (previous year: EUR 5.3 million) also exceeded the management's previous expectations of EUR 6 to 7 million.

The better-than-expected performance in the financial year 2016/17 is attributable to increased demand for imported agricultural machinery and the stable exchange rate. In the past financial year, Ekotechnika recorded a strong increase in incoming orders for tractors to 252 (+27%) and combines to 57 (+68%).

The final Annual Report 2016/17 of Ekotechnika AG will be published in February 2018.

 

About Ekotechnika

Walldorf-based Ekotechnika AG is the German holding company of the Ekoniva-Technika Group, the largest distributor of agriculture equipment in Russia. The company's single most important supplier is John Deere, the world's leading manufacturer in this field. Its main business is in selling new equipment such as tractors and combines but also milking equipment and precision farming technology. In addition, the company sells spare parts and provides service and maintenance. Ekotechnika's founder and board member is Stefan Dürr, who has been active in the Russian farming sector since the late eighties and has been instrumental in its modernisation over the past two decades. In 2011 the equipment business was separated from the farming business, which now operates independently under the name Ekosem-Agrar. Operating 12 locations in attractive Russian farming regions, Ekotechnika today employs around 520 people and generates sales of more than EUR 140 million in 2016/2017. The Ekotechika stock is listed on the Primärmarkt of the Düsseldorf stock market (ISIN: DE000A161234).

Contact Ekotechnika AG // Johann-Jakob-Astor-Str. 49 // 69190 Walldorf // T: +49 (0) 6227 3 58 59 60 // E: info@ekotechnika.de // www.ekotechnika.de

Media / Investor Relations Fabian Kirchmann // IR.on AG // T: +49 (0) 221 9140 970 // E: presse@ekotechnika.de

13-Nov-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Ekotechnika AG Johann-Jakob-Astor-Str. 49 69190 Walldorf

Germany Phone: +49 (0) 6227 3 58 59 60 E-mail: info@ekotechnika.de Internet: www.ekotechnika.de ISIN: DE000A161234 WKN: A1R1A1 Listed: Regulated Unofficial Market in Dusseldorf Notierung vorgesehen. / Intended to be listed.   End of Announcement DGAP News Service

628461  13-Nov-2017 CET/CEST

@ dgap.de

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