Decline in sales and earnings in first quarter of 2020 because of COVID-19 pandemic

  • First quarter sales decline by 28.3% to 45.5m EUR
  • Bookings 20.5% below previous first quarter to reach 56.3m EUR
  • EBIT of 3.2m EUR marks decline of 37.9% compared to first quarter of 2019

DATA MODUL suffered declines in sales and earnings during the first quarter of the 2020 financial year due to the far-reaching uncertainties and economic consequences of the COVID-19 pandemic. Sales dropped by 28.3%, in comparison to the previous first quarter, to mark 45.5m EUR. Bookings fell by 20.5 % to 56.3m EUR, following 70.8m EUR in the previous first quarter. The increase in backlog of 6.5% from 134.9m EUR to 143.7m EUR resulted from a shift of delivery dates announced by customers of all business segments and regions.

Group-wide EBIT marked 3.2m EUR in the first quarter of the financial year 2020, which means a decline of approx. 37% compared to the high number of 5.1m EUR achieved during the same period of the previous year. Consequently, the EBIT yield reached 6.9%, compared to 8.0% in the same period of 2019, marking a drop of 13.8%.

Regarding the decline of sales and earnings figures as compared to the same period of the previous financial year and the amended guidance for the entire financial year 2020, DATA MODUL already published an ad-hoc announcement on April 20th, 2020.

Group-wide financials

in kEUR Q1 2020 Q1 2019 Difference
Revenue 45,541 63,509 -28.3%
Orders received 56,298 70,771 -20.5%
Order backlog 143,650 134,941 6.5%
EBIT 3,157 5,082 -37.9%
EBIT margin 6.9% 8.0% -13.8%
Net profit for the period 1,908 3,439 -44.5%
Earnings per share (in euros) 0.54 0.98 -44.5%

Outlook

Also for DATA MODUL, the general economic conditions have deteriorated massively because of the current corona-virus pandemic and the measures adopted for its containment. However, based on a long-term and consequent execution of its strategy program, the group is positioned to overcome tightened economic conditions. With a view to current bookings the executive board expects a profitable full financial year 2020, provided that the corona-crisis does not further aggravate and that rebound and catch-up effects, fuelled by the multi-billion economic aid programs, materialize in the second half of the year.

Press Release Q1/2020

12.05.2020
Created with Snap

Contact

DATA MODUL Inc.

West Coast Office 8215 SW Tualatin-Sherwood Rd Suite 200 Tualatin
OR 97062

Phone: +1 503 885 1165

Contact