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Turbon’s preliminary results for 2018

May 15, 2019

The Turbon Group has released its preliminary consolidated financial statements of the fiscal year 2018.

All the following information is preliminary and has not yet been finalised, the finalised results will be released 24 May 2019. According to Turbon the activities of the Group in the financial year 2018 have already been focused on the future structure of the business.

In the US, income totalled €65.2 million ($73.1 million) compared to €72.8 million ($81.6 million) in the previous year. The gross margin in the financial year 2018 was at 18.4 percent which was significantly below the previous year’s level of 23.2 percent.

EBIT (earnings before interest and taxes) amounted to – €6.1 million (- $6.8 million) compared to the previous year’s €3.7 million ($4.1 million). Earnings before taxes amounted to – €7.0 million (- $7.8 million) compared to the previous year’s €2.9 million ($3.2 million).

In the 2018 financial year, tax income at group level is calculated at €1 million ($1.1 million). Taking into account the tax income and the result of the above-mentioned income of the United States division, the consolidated net loss for the year 2018 will be – €7.4 million (- $8.2 million compared to the previous year’s – €3.7 million (- $4.1 million).

The Turbon Printing segment generated revenue of €53.1 million ($59.5 million) in 2018 (81.4 percent of total sales), compared to 2017, where the printing segment generated sales of €69 million ($77.3 million) which accounted for 94.8 percent of total sales.

The proportion of the laser cartridge contained in the aforementioned figures revenues amounted to €33.0 million ($36.9 million) in 2018 compared to €58.6 million ($65.7 million) in 2017.

As of 31 December 2018, the amount of laser cartridges was €5.3 million ($5.9 million) and the other segments in the Turbon Printing segment amount to €2.7 million ($3 million).

According to Turbon’s statement, the measures for further reduction in the field of lasers cartridges but also in the Turbon Electric segment are ongoing or have been initiated.

Turbon forecasts declining sales in the Turbon Printing segment for 2019, predicting a turnover in the amount of €47.0 to €50.0 million ($52 to $56 million)

In the Group, Turbon are cautiously planning for 2019 a turnover of totalling €60.0 to €65.0 million ($67 to $72 million) and earnings before taxes to be between €0.5 and €1.5 million ($0.56 and $1.68 million).

Furthermore, Turbon said it is expecting to see bank loans repaid, with the exception of the long-term loan for the property in Hattingen.

The 2018 annual report can be viewed on Turbon’s website from 24 May 2019.

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