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SMT Scharf reports better profitability in 2016
Hans Joachim Theiss, CEO of SMT Scharf AG, commented on the FY 2016 results: "We see the forecast we issued in mid-2016 as being confirmed with EUR 42.0 million of revenue achieved over the full course of the year. The service business still accounted for most of our sales revenue. Order intake for new systems continued to be slow in 2016, but picked up at the year-end. We also reported the year-on-year operating profit improvement we expected for the fiscal year just ended."
With over EUR 2.0 million of EBIT in 2016, SMT Scharf was at least EUR 0.4 million, or at least 25.0%, above the previous year's level of EUR 1.6 million. In light of the market-led reduction in consolidated revenue in 2016, the EBIT margin was boosted to at least 4.8% (2015: 3.2%). The original target of 4.1% from early 2016 was thereby significantly exceeded in both absolute and relative terms.
"We see that our measures in the area of operative excellence are showing effect and are reflected in our results. Last year's EBIT growth would have been even higher without further precautionary accounting policy measures at the 2016 fiscal year-end – such as in the research and development area," as Theiss went on to note. "We will also report a positive result at the bottom line, as in the previous year. We see ourselves as very well positioned to exploit future market opportunities in view of the brightening market environment and our bolstered activities in special engineering and tunnel logistics. We also aim to instigate future growth drivers by utilising our core competencies in sales and after-sales organisation in the context of strategic partnerships."
The final FY 2016 results and the 2017 outlook will be published along with the Group annual financial report on March 8, 2017 in the investor relations area at www.smtscharf.de.
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