31.03.2023 STEMMER IMAGING AG  DE000A2G9MZ9

EQS-News: STEMMER IMAGING publishes Annual Report 2022: excellent revenue and earnings growth with positive outlook for 2023. Increase of medium-term guidance for EBITDA margin to 15–19%


 

EQS-News: STEMMER IMAGING AG / Key word(s): Annual Results/Annual Report
STEMMER IMAGING publishes Annual Report 2022: excellent revenue and earnings growth with positive outlook for 2023. Increase of medium-term guidance for EBITDA margin to 15–19%

31.03.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.


Puchheim, March 31, 2023

STEMMER IMAGING publishes Annual Report 2022: excellent revenue and earnings growth with positive outlook for 2023. Increase of medium-term guidance for EBITDA margin to 15–19%

  • Revenue increases by 19.4% to EUR 155.4 million (2021: EUR 130.1 million)
  • EBITDA grows by 62.7% to EUR 28.2 million (2021: EUR 17.4 million), EBITDA margin at 18.2% (2021: 13.3%)
  • Earnings per share increase to EUR 2.77 (2021: EUR 1.61)
  • Operating cash flow improves by 99.5% to EUR 15.9 million (2021: EUR 8.0 million)
  • Dividend proposal to the Annual General Meeting: regular dividend EUR 1.00 per share (2022: EUR 0.75 per share) and special dividend EUR 2.00 per share
  • Forecast 2023: revenue range EUR 163 million – 176 million and EBITDA range EUR 26 million – 32 million
  • Mid-term guidance: 2024 revenue target of EUR 200 million and increase of mid-term forecast for EBITDA margin to 15–19%

Puchheim, March 31, 2023 – STEMMER IMAGING AG (ISIN DE000A2G9MZ9 / GSIN A2G9MZ) is publishing its final figures for fiscal year 2022 today.

KEY FIGURES
(in MEUR)
FY 2022 FY 2021 YOY
Order Intake 162.4 162.1 +0.2%
Revenue 155.4 130.1 +1.4%
EBITDA 28.2 17.4 +62.7%
EBIT 24.3 13.4 +81.3%
EBT 24.3 13.6 +78.2%

 

KEY FIGURES
(in MEUR)
Q4 2022 Q4 2021 YOY
Order Intake 37.0 40.9 -9.5%
Revenue 42.4 32.2 +31.8%
EBITDA 9.5 4.9 +94.4%
EBIT 8.5 3.9 +117.4%
EBT 8.6 4.1 +110.0%

Business Development
In a strong market environment, but still significantly impacted by supply shortages, STEMMER IMAGING achieved a revenue growth of 19.4% to EUR 155.4 million (previous year: EUR 130.1 million) in fiscal year 2022. EBITDA grew by 62.7% to EUR 28.2 million (previous year: EUR 17.4 million). STEMMER IMAGING achieved the upper range of the full-year revenue forecast (EUR 150 million – EUR 156 million) and exceeded the EBITDA forecast, which was recently raised to EUR 27.5 million (EUR 24.0 million – EUR 27.5 million). The company thus set new records for revenue and EBITDA.

The German Mechanical Engineering Industry Association (VDMA) reported a 7% increase in revenue for machine vision in the past year 2022. This means that STEMMER IMAGING was once again able to grow significantly faster than the market. In fiscal year 2022, earnings per share rose to EUR 2.77 (previous year: EUR 1.61) and have improved continuously over twelve quarters.

In the fourth quarter of 2022, STEMMER IMAGING achieved record revenues of EUR 42.4 million, which were 31.8% higher than in the same quarter of the previous year (Q4 2021: EUR 32.2 million). EBITDA increased by 94.4% year-on-year to EUR 9.5 million (Q4 2021: EUR 4.9 million). At 22.5%, the EBITDA margin was also significantly higher than in the same quarter of the previous year (Q4 2021: 15.2%).

Arne Dehn, CEO of STEMMER IMAGING AG, comments: “Being a listed company for five years now and publishing these figures today, we are delivering on our promise to translate the excellent market opportunities in machine vision into above-average growth and attractive margins at the same time. In doing so, we have taken advantage of the difficult market environment of the last two years to strengthen our strategic and operational position. Through the value proposition “Leading Vision” of the entire STEMMER IMAGING team, this development will benefit our customers, suppliers and also our shareholders."

The operating cash flow as an indicator of a company's internal financing strength increased to EUR 15.9 million in fiscal year 2022 (previous year: EUR 8.0 million). The significant improvement in this key figure was achieved even though the increased inventory costs counteracting the global supply shortages burdened the operating cash flow.

The positive business performance in the past fiscal year was based on STEMMER IMAGING's sustainable positioning in the defined strategic target markets – both in the Machine Vision and in the non-industrial Artificial Vision end markets. In fiscal year 2022, STEMMER IMAGING was able to grow in both areas with significant double-digit rates. In the Artificial Vision target market, the Sports & Entertainment segment benefited from over 50% growth. In the industrial environment Machine Vision, particularly the segment mobility was able to grow at an above-average rate of almost 40%.

From a regional perspective, the company's growth is also built on a solid basis and was achieved in almost every region. The growth in Germany and the strong growth rates in the Nordics, France and Benelux regions, with significant double-digit percentage increases, made an above-average contribution to the corporation's growth. The INFAIMON companies in Spain, Portugal, Mexico and Brazil also reported record revenue, with mid-single-digit growth compared to the previous year. In 2022, all regions recorded revenue levels above the 2019 figures. This also applies to Switzerland, which was the only region to report a decline in sales in 2022 compared to an exceptionally high sales level in 2021 due to a corona-related special effect.

Dividend
As already published, a dividend increase to EUR 1.00 per share (previous year: EUR 0.75) and the distribution of a special dividend of EUR 2.00 per share will be proposed to the 2023 Annual General Meeting for fiscal year 2022. In times of rising interest rates, STEMMER IMAGING wants to take the greater importance of equity for its shareholders into account. After careful consideration, the proposal for a special dividend is compatible with the ambitious organic and inorganic growth plans and the associated financing requirements.

Outlook 2023
The high order intake of EUR 162.4 million in 2022 (previous year: EUR 162.1 million) is the basis for STEMMER IMAGING starting the new fiscal year with a high order backlog of around EUR 55 million. Thus, together with the record order of almost EUR 14 million received earlier this year and the slight improvements in the supply chain the management is optimistic for the new financial year. For 2023, the Management Board expects revenue growth of between 5% and 13%. This corresponds to consolidated revenues in the range of EUR 163 million – EUR 176 million and EBITDA of EUR 26 million – EUR 32 million. The broad corridor reflects the current dynamics on the sales and procurement markets.

The company continues to see itself in the target range of the medium-term guidance in 2024 with a revenue goal of EUR 200 million and is raising the forecast for the EBITDA margin in the medium-term period to 15–19% beyond 2024. Michael Bülter, CFO of the company, explains: "We translated our focus on growth and efficiency into impressive key figures. With the measures introduced, we therefore see a sufficient basis for raising the EBITDA margin medium-term guidance from the current 13–16% in the medium-term period to 2024 to 15–19% beyond 2024."

In accordance with STEMMER IMAGING´s measures for sustainable business management, the annual report is no longer printed, but is only digitally available on the company's website in the Investors section (Investor Relations - Financial reports | STEMMER IMAGING (stemmer-imaging.com)).
 

About STEMMER IMAGING

STEMMER IMAGING is the leading international partner for machine vision technology.

For industrial and non-industrial applications, our product range combines an extensive commercial range of products combined with a high level of expertise and value-added services.
In addition, we develop subsystems to solve specific tasks.

For over 35 years, we have been helping our customers to take a leading role in their markets – across Europe and Latin America.

 

Contact:

STEMMER IMAGING AG
Michael Bülter
Chief Financial Officer
Gutenbergstr. 9-13
82178 Puchheim
Germany
Phone +49 89 80902-196
[email protected]
www.stemmer-imaging.com



31.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: STEMMER IMAGING AG
Gutenbergstr. 9-13
82178 Puchheim
Germany
Phone: +49 89 80902-196
E-mail: [email protected]
Internet: www.stemmer-imaging.com
ISIN: DE000A2G9MZ9
WKN: A2G9MZ
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1597219

 
End of News EQS News Service

1597219  31.03.2023 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 100,63 108,97 118,60 103,10 130,12 155,37 146,29
EBITDA1,2 6,39 6,98 10,80 7,21 17,36 28,24 26,95
EBITDA-Marge3 6,35 6,41 9,11 6,99 13,34 18,18
EBIT1,4 4,15 5,52 -0,58 -1,55 13,43 24,34 21,86
EBIT-Marge5 4,12 5,07 -0,49 -1,50 10,32 15,67 14,94
Jahresüberschuss1 2,94 4,38 -1,40 -3,32 10,45 17,97 15,73
Netto-Marge6 2,92 4,02 -1,18 -3,22 8,03 11,57 10,75
Cashflow1,7 3,35 4,94 1,95 10,88 7,97 15,90 20,31
Ergebnis je Aktie8 0,45 0,67 -0,22 -0,51 1,61 2,77 2,42
Dividende8 0,50 0,50 0,00 0,50 0,75 3,00 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: Baker Tilly

INVESTOR-INFORMATIONEN
©boersengefluester.de
Stemmer Imaging
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A2G9MZ 34,000 Kaufen 221,00
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
11,72 16,01 0,73 31,75
KBV KCV KUV EV/EBITDA
3,51 10,88 1,51 6,86
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
3,00 2,70 7,94 14.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
08.05.2024 13.08.2024 07.11.2024 28.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
4,54% 10,32% 2,41% -15,42%
    
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