06.04.2022 STS Group AG  DE000A1TNU68

DGAP-News: STS Group AG publishes Annual Report 2021


DGAP-News: STS Group AG / Key word(s): Annual Report/Annual Results
STS Group AG publishes Annual Report 2021

06.04.2022 / 09:36
The issuer is solely responsible for the content of this announcement.

STS Group AG publishes Annual Report 2021

- Organic revenue growth of 3.0% to 242.0 mEUR (2020: 235.0 mEUR)

- Adjusted EBITDA increases by 12.4% to 19.9 mEUR (2020: 17.7 mEUR)

- Net financial debt reduced to 12.2 mEUR as of 31 December 2021 (31 December 2020: 22.9 mEUR)

Hagen, 6 April 2022. STS Group AG (ISIN: DE000A1TNU68), a global systems supplier to the automotive industry listed in the General Standard of the Frankfurt Stock Exchange, today publishes its annual report and audited consolidated figures for the financial year 2021.

Alberto Buniato, CEO of STS Group AG: "Overall we look back on solid results despite a financial year 2021 once again marked by the COVID-19 pandemic. The second half of the year in particular was marked by the majority acquisition and integration of the STS Group into the Adler Pelzer Group. STS and the Adler Pelzer Group complement each other to a great extent and offer the entire Group new opportunities and synergy potential. In particular for the planned expansion of the business in China as well as in the North American market, the Adler Pelzer Group offers corresponding tailwind for future growth."

STS Group AG generated revenues of 242.0 mEUR in the reporting year 2021 after 235.0 mEUR in the previous year. With an increase of 3.0%, revenue growth was below the forecast for 2021 of around 10%, but was nevertheless satisfactory from the Management's point of view, as the original forecast was based on the assumption that the Chinese business would remain at the high level of 2020. The essential core market in China had already anticipated the trend of revived demand dynamics in the commercial vehicle sector in 2020, so that revenue in China in the financial year 2021 could not be maintained at the previous year's level as originally expected, mainly due to a weak fourth quarter. However, China reconfirmed itself as an important core market and contributed significantly to the earnings situation of the STS Group. The Materials segment fell slightly short of the previous year's level in terms of revenue and generated a negative result, which is attributable to the supplier consolidation in the automotive industry as a whole. Both revenue and earnings developed positively in the Plastics segment. The Plastics segment achieved sales growth of 16.7% in 2021.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) improved to 19.1 mEUR in the reporting year after 14.7 mEUR in the previous year due to cost savings. Adjusted for restructuring-related special effects, adjusted EBITDA increased to 19.9 mEUR in the financial year 2021 (2020: 17.7 mEUR). At 8.2%, the adjusted EBITDA-margin reached the expected high single-digit level (2020: 7.5%).

For the financial year 2021, STS Group AG reports a positive consolidated result of 1.8 mEUR (2020: -15.9 mEUR). The previous year's consolidated result was characterised by one-off effects from the sale of the Acoustics division and therefore not comparable for the operating business development of the existing core markets of STS Group AG.

Due to the positive consolidated result, equity increased to 58.3 mEUR as of 31 December 2021, compared to 51.5 mEUR as of the 2020 balance sheet date. This corresponds to an equity ratio of 29.2% (31 December 2020: 27.5%). Cash and cash equivalents amounted to 28.3 mEUR as at the balance sheet date (31 December 2020: 20.0 mEUR). In the reporting year, STS Group generated a positive net cash flow from operating activities of 36.1 mEUR compared to -1.6 mEUR in the previous year. The Group's net financial debt decreased by 10.7 mEUR to 12.2 mEUR as at 31 December 2021 (31 December 2020: 22.9 mEUR). The increase in cash and cash equivalents as at 31 December 2021 had a positive effect, while loans to third parties developed in the opposite direction.

Forecast 2022
For the 2022 financial year, the Management Board assumes a limited ability to forecast due to the ongoing Ukraine/Russia conflict as well as the renewed increase in COVID-19 infections in China. Should the geopolitical situation, especially in Eastern Europe, remain tense or deteriorate further, this may cause a lasting disruption in production, supply chains and demand. If there is no dramatic intensification and expansion of the war, and no suspension of raw material deliveries, the Management Board expects a slight decline in revenues compared to the previous year. The development of revenue will have the same effect on adjusted EBITDA. Relevant extraordinary expenses are not planned for the 2022 financial year, so adjusted EBITDA is expected to be in line with EBITDA.

The STS Group AG Annual Report 2021 is available for download in german at https://www.sts.group/de/investor-relations/publikationen. The English report will be available on 19 April 2022.

Key figures financial year 2021

in mEUR   FY 2021   FY 2020 Delta %
Revenue   242.0   235.0 3.0
Segment Plastics   151.7   129.9 16.7
Segment China   71.8   85.0 -15.5
Segment Materials   25.2   26.7 -5.6
Company/Consolidation   -6.7   -6.6 -2.0
EBITDA   19.1   14.7 29.6
Adjusted EBITDA   19.9   17.7 12.4
Segment Plastics   5.2   2.3 124.6
Segment China   16.9   17.4 -2.8
Segment Materials   -1.2   1.6 > -100.0
Company/Consolidation   -1.0   -3.6 -73.1
Adjusted EBITDA-margin   8.2%   7.5%  
Group equity   58.3   51.1  
Group equity ratio   29.2%   27.5%  
Cash and cash equivalent (freely available)   28.3   20.0  
Net financial debt   12.2   22.9  
Employees   1,516   1,601  

About STS Group:
STS Group AG, www.sts.group (ISIN: DE000A1TNU68), is a leading system supplier to the automotive industry. It employs more than 1,500 people worldwide and generated sales of 242.0 mEUR in the financial year 2021. STS Group ("STS") produces and develops at its twelve plants and three development centers in France, Germany, Mexico, China and, in the future, also in the USA plastic injection moulding and components made of composite materials (Sheet Molding Compound - SMC), such as solid and flexible vehicle and aerodynamic trim, entire interior systems, as well as lightweight construction and battery components for electric vehicles. STS is considered as a technology leader in the manufacture of plastic injection moulding and components made of composite materials. STS has a large global footprint with plants in three continents. The customer portfolio comprises leading international manufacturers of commercial vehicles, passenger cars and electric vehicles.

STS Group AG
Investor Relations
Kabeler Str. 4
58099 Hagen
[email protected]

06.04.2022 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.

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Language: English
Company: STS Group AG
Kabeler Str. 4
58099 Hagen
E-mail: [email protected]
Internet: https://sts.group
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1321365

End of News DGAP News Service

1321365  06.04.2022 


Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 309,99 401,23 362,80 235,00 242,00 235,10 277,90
EBITDA1,2 55,04 11,88 15,30 14,70 19,10 9,60 20,50
EBITDA-Marge3 17,76 2,96 4,22 6,26 7,89 4,08
EBIT1,4 46,86 -1,33 -6,48 -1,40 3,60 -6,60 6,80
EBIT-Marge5 15,12 -0,33 -1,79 -0,60 1,49 -2,81 2,45
Jahresüberschuss1 46,97 -4,80 -12,12 -15,90 1,80 -9,90 -1,20
Netto-Marge6 15,15 -1,20 -3,34 -6,77 0,74 -4,21 -0,43
Cashflow1,7 -8,67 7,10 36,64 -1,60 36,10 6,50 30,50
Ergebnis je Aktie8 7,82 -1,20 -2,03 -2,60 0,30 -1,50 -0,20
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: PricewaterhouseCoopers

STS Group
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A1TNU6 6,000 - 39,00
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
12,50 20,68 0,61 23,17
0,84 1,28 0,14 1,24
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
0,00 0,00 0,00 13.06.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
- 09.08.2024 28.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
1,68% 13,12% 7,14% 12,15%
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