19.04.2018
Ekotechnika AG DE000A161234
DGAP-News: Ekotechnika AG: Annual General Meeting welcomes further stabilisation of the business trend
DGAP-News: Ekotechnika AG / Key word(s): AGM/EGM/Forecast
Ekotechnika AG: Annual General Meeting welcomes further stabilisation of the
business trend
19.04.2018 / 15:10
The issuer is solely responsible for the content of this announcement.
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Ekotechnika AG: Annual General Meeting welcomes further stabilisation of the
business trend
* Solid performance in the first five months of FY 2017/18
* After-sales business continues to improve
* Market environment for agricultural machinery in Russia remains
challenging
* All items on the agenda approved by a large majority
Walldorf, 19 April 2018 - At today's Annual General Meeting, the Executive
Board of Ekotechnika AG, the German holding company of the EkoNiva-Technika
Group, the largest dealer of international agricultural machinery in Russia,
reported on the successful past financial year 2016/17 (30 September) and on
the performance in the first five months of the current financial year.
Board member Björne Drechsler explained that sales of agricultural equipment
in Russia have picked up noticeably. The 26% increase in sales revenues in
FY 2016/17 to EUR 148.1 million is attributable both to the sharp rise in
sales of new machinery and to the greatly improved spare parts business.
Profitability also improved markedly. Earnings before interest and taxes
(EBIT) more than doubled from EUR 5.3 million to EUR 11.6 million.
Executive Board member Stefan Dürr confirmed the company's forecast for the
current financial year 2017/18, according to which sales revenues will
amount to between EUR 133 million and EUR 140 million and EBIT will come in
at around EUR 7 million. In the first five months (October to February),
sales of new machinery showed a stable trend, with the after-sales segment
exceeding the prior year level.
The continued difficult financing conditions in Russia and greater risks
resulting from more trade barriers are the main challenges.
On balance, however, the company is cautiously optimistic about the full
year 2017/18, in which a strategic focus will be placed on expanding the
cooperation with John Deere, especially in the smart farming segment.
This year's Annual General Meeting was attended by shareholders representing
85.4% of the share capital. All items on the agenda were approved by a large
majority, with the resolutions on ratifying the acts of the Executive Board
and the Supervisory Board and on the appropriation of profits taken
unanimously.
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. Ekotechnika's main business lies
in selling new equipment such as tractors and combines but also soil tillage
machines 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
modernization 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 500 people and generated 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: [email protected] // www.ekotechnika.de/en
Press / Investor Relations
Fabian Kirchmann // IR.on AG // T: +49 (0) 221 9140 970 // E:
[email protected]
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19.04.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Ekotechnika AG
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0) 6227 3 58 59 60
E-mail: [email protected]
Internet: www.ekotechnika.de
ISIN: DE000A161234
WKN: A1R1A1
Listed: Regulated Unofficial Market in Dusseldorf
Notierung vorgesehen. / Intended to be listed.
End of News DGAP News Service
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