Jenoptik: rise in first-quarter order figures provides sound basis for further development

  • In the first three months of 2019, order intake was up 5.6 percent to 210.4 million euros, order backlog rose from 27.4 million euros to 548.9 million euros 
  • Group generated revenue of 184.0 million euros (prior year: 189.9 million euros)
  • In line with expectations, EBITDA came to 23.8 million euros, down on prior-year 27.7 million euros
  • Jenoptik confirms annual targets for 2019

In the first three months of 2019, Jenoptik reported good demand in the semiconductor equipment and automotive markets. Export restrictions in the defense business, however, had a negative impact on growth. In addition and as expected, the high level of prior-year revenue in the Light & Safety division could not be fully compensated. Group revenue in the first quarter of 2019 was therefore down 3.1 percent at 184.0 million euros (prior year: 189.9 million euros). Prodomax and the OTTO Group, the companies acquired in the prior year, contributed over 12 million euros of revenue to the Group’s current business performance.

On a regional level, growth was exclusively achieved outside Europe. Jenoptik registered its strongest growth in the Americas, where revenue increased a significant 23.4 percent to 47.5 million euros (prior year: 38.5 million euros), primarily due to the contribution made by Prodomax.

The fall in revenue, stronger investments in R+D, and higher functional costs compared to the prior-year quarter resulted in EBITDA falling by 14.2 percent to 23.8 million euros (prior year: 27.7 million euros). The EBITDA margin was 12.9 percent (prior year 14.6 percent). At 12.8 million euros, EBIT, too, was down on the prior-year figure of 20.8 million euros, a decrease of 38.6 percent. EBIT for the companies acquired in the prior year came to 0.3 million euros, including financial impacts arising from the purchase price allocation in the amount of minus 1.7 million euros. The Group EBIT margin fell to 7.0 percent (prior year: 11.0 percent).

“As expected, our divisions showed a mixed picture in their business development at the beginning of 2019. On the one hand, export restrictions in the defense business are inhibiting growth and, as anticipated, we could not fully compensate the high revenues of around 15 million euros we generated with toll monitoring systems in our traffic safety business in the prior year. We are, however, seeing continuing good demand in our important semiconductor equipment and automotive markets and, overall, remain on course for growth, as our order book shows,” says Stefan Traeger, President & CEO of JENOPTIK AG.

Encouraging growth in order intake; order backlog reached new record value

Jenoptik recorded a very good first quarter in terms of order intake. In the first three months of 2019, the Group received orders worth 210.4 million euros, an increase of 5.6 percent (prior year: 199.2 million euros). The order intake was thus above revenue, resulting in a significant rise in the book-to-bill ratio from 1.05 in the prior year to 1.14. The order backlog reached a new record value of 548.9 million euros, also considerably exceeding the figure at year-end 2018 (31/12/2018: 521.5 million euros). As of March 31, 2019, there were also frame contracts worth 57.9 million euros (31/12/2018: 62.5 million euros).

As a result of a lower operating cash flow than in the prior year and higher capital expenditure, the free cash flow in the reporting period fell to minus 5.1 million euros (prior year: 13.3 million euros). In addition, customer payments originally expected in early 2019 were already received at the end of December 2018. An increase in financial debt – in particular due to the introduction of the international financial reporting standard IFRS 16 – and a slightly lower level of cash and cash equivalents resulted in net debt amounting to 39.2 million euros at the end of this reporting period (31/12/2018: minus 27.2 million euros).

Development of the divisions: growth in photonics business, export restrictions impact on VINCORION

In the first three months of 2019, the Light & Optics division posted revenue growth of 2.6 percent, to 83.2 million euros (prior year: 81.1 million euros). This development was supported by continuing good business with solutions for the semiconductor equipment industry. Income from operations before depreciation and amortization (EBITDA) fell in comparison with the prior-year quarter by 3.7 percent to 16.6 million euros, primarily due to product mix impacts (prior year: 17.3 million euros). The EBITDA margin remained at a very good level of 19.8 percent (prior year: 21.1 percent). In the first quarter, the division posted an order intake worth 76.5 million euros, equating to a fall of 21.5 percent on the prior year (prior year: 97.4 million euros). This development is attributable to the fact that high-volume orders for semiconductor equipment were placed earlier than expected in 2018. The order backlog was worth 172.4 million euros at the end of March 2019 (31/12/2018: 180.6 million euros).

First-quarter revenue in the Light & Production division was 28.9 percent up on the prior-year period, at 50.4 million euros (prior year: 39.1 million euros). Sales of innovative measuring systems for the automotive industry increased, and the newly acquired companies contributed over 12 million euros to revenue growth. On the basis of good revenue performance, the division posted an EBITDA of 5.6 million euros, as expected again reflecting a considerably improved quality of earnings compared to the prior year (prior year: 2.5 million euros). The EBITDA margin grew to 11.0 percent, compared with 6.4 percent in the prior year. The order intake was worth 63.1 million euros (prior year: 44.0 million euros). Demand for automation solutions, in particular, saw strong growth, as shown by our recently announced projects in North America. The order backlog at the end of March was worth 126.9 million euros (31/12/2018: 112.5 million euros).

In the first three months of 2019, the Light & Safety division generated revenue of 24.5 million euros (prior year: 33.2 million euros). In the prior year, particularly the delivery of toll monitoring systems had contributed to strong growth in the first quarter. As expected, this fall in revenue was also reflected in EBITDA, which came to 3.7 million euros in the current reporting period following 5.8 million euros in the prior-year quarter. The EBITDA margin thus fell to 15.2 percent (prior year: 17.5 percent). By contrast, the order intake saw good growth, rising by 9.6 percent to 27.0 million euros (prior year: 24.6 million euros). The division’s order backlog consequently also increased by 5.3 percent to 73.2 million euros (31/12/2018: 69.5 million euros).

Over the first three months of 2019, VINCORION generated revenue of 25.3 million euros, 29.7 percent down on the prior-year quarter (prior year: 35.9 million euros). This, in particular, was the result of the German government’s decision to extend arms export restrictions in the context of the embargo, among other things on Saudi Arabia. As a result of the fall in revenue and a lower-margin product mix, EBITDA in the first quarter came to minus 0.4 million euros (prior year: 3.5 million euros). The EBITDA margin fell from 9.7 percent in the prior-year quarter to a present minus 1.6 percent. By contrast, the order intake showed an upward trend what is very positive for future business performance. It grew by 32.4 percent to 43.0 million euros (prior year: 32.5 million euros), in part due to new Patriot missile defense and Eurofighter projects. Due to an increased order intake and delayed revenue generation, the division’s order backlog also increased, by 17.4 million euros to 176.2 million euros (31/12/2018: 158.9 million euros).

2019 guidance confirmed

“On the back of sustained good demand in key markets, recently acquired projects, and good order intake growth, we are confident to see good business performance, particularly in the second half of the year, and to achieve our financial targets for 2019,” says Stefan Traeger.

The Executive Board of JENOPTIK AG continues to expect momentum to increase over the year and therefore confirms its guidance for 2019. Revenue growth for the full year is due to be in the mid-single-digit percentage range (without any major portfolio changes). The EBITDA margin is expected within the range of 15.5 to 16.0 percent.

The Interim Report is available in the “Investors/Reports and Presentations” section of the Jenoptik website. The “Jenoptik app” can be used to view the Interim Report on mobile devices running iOS or Android. Images for download can be found in the Jenoptik image database, in the “Current Events/Financial Reports” gallery.

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Change in Leadership on the executive Board Of Knorr-Bremse AG

  • Klaus Deller leaves the company after ten years by mutual agreement
  • Supervisory Board initiates the search for his successor
  • Members of the Executive Board will assume the responsibilities in the interim

Klaus Deller, the Chairman of the Executive Board of Knorr-Bremse AG, will leave the company on April 30 by mutual agreement. The Supervisory Board has already initiated the search for his successor. During the interim, the responsibilities of Mr. Deller will be assumed jointly by the members of the Executive Board: Ralph Heuwing, Dr. Peter Laier, and Dr. Jürgen Wilder.

The Supervisory Board stands fully behind the successful business strategy of Knorr-Bremse AG. Current business trading is fully in line with expectations. Mr. Deller resigned due to different views about leadership and collaboration.

Professor Dr. Klaus Mangold, Chairman of the Supervisory Board of Knorr-Bremse AG, said: “On behalf of all members of the Supervisory Board, I would like to thank Klaus Deller for the very successful work he has done over the past 10 years, in his divisional responsibility as well as since 2015, as CEO. I would like to highlight particularly the company’s successful IPO. With its access to capital markets and its long-range company strategy, Knorr-Bremse is positioned in the best-possible way for the future.“

 

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„Beste Berater 2019“ Die Management Angels wurden zum sechsten Mal in Folge ausgezeichnet!

Zum sechsten Mal in Folge gehört der Interim Management Provider mit Sitz in Hamburg und Frankfurt zu den besten Beratern in Deutschland. Als einer der Marktführer und Mitglied der Worldwide Interim Leadership Group konnten die Management Angels wieder eine Spitzenposition in der Rubrik „Interimsmanagement“ belegen.

Neben den Klienten der Beratungsgesellschaften, bei denen es sich um Unternehmensentscheider und leitende Angestellte in Konzernen handelt, werden auch Unternehmensberatungen sowie der direkte Wettbewerb befragt. In beiden Kategorien schnitten die Management Angels hervorragend ab.

„Wir freuen uns sehr über diese erneute Auszeichnung“, so Daniel Müller, Geschäftsführer der Management Angels. „Es bestärkt uns in unserer Wachstums- und Internationalisierungsstrategie, die wir seit 5 Jahren konsequent verfolgen. 20% unserer Mandate haben bereits einen internationalen Bezug, mit steigender Tendenz. Die sehr individuelle Betreuung durch unser 30-köpfiges Team sowie unser internationales Netzwerk werden von unseren Kunden wie Interim Managern gleichermaßen geschätzt.“

„Das Ergebnis spornt uns zudem an, auch weiterhin mit höchstem Qualitätsanspruch unseren Kunden partnerschaftlich zur Seite zu stehen“, sagt Geschäftsführer Erdwig Holste. „Als Beratungsunternehmen sind wir seit nahezu 20 Jahren am Markt und haben durch unsere Verbandstätigkeit für mehr Qualität und Transparenz in der Branche gesorgt. Wir legen besonderen Wert auf die persönliche, sehr vertrauensvolle Beratung unserer Kunden und Interim Manager.“

„Unsere selbstständigen Führungskräfte unterstützen Unternehmen in schwierigen Situationen mit ihrer ausgeprägten Expertise und ihrer operativen Umsetzungsstärke. Mehr als 1700 erfolgreich abgeschlossene Mandate sprechen für sich“, konstatiert Daniel Müller. „Wir sind mit unserer Dienstleistung nicht auf kurzfristige Erfolge ausgelegt, sondern sorgen für eine nachhaltige Transformation bei unseren Kundenunternehmen.“

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MorphoSys gibt Update zu klinischen Studien L-MIND und B-MIND mit Wirkstoff MOR208 bei rezidivierendem oder refraktärem DLBCL bekannt

Die MorphoSys AG (Frankfurt: MOR; Prime Standard Segment, MDAX & TecDAX; NASDAQ: MOR) gab heute Neuigkeiten zu den beiden laufenden klinischen Studien L-MIND und B-MIND mit seinem Fc-wirkverstärkten, gegen CD19 gerichteten Antikörper MOR208 bekannt. In den Studien wird MOR208 bei Patienten mit rezidivierendem oder refraktärem diffusem großzelligem B-Zell-Lymphom (r/r DLBCL) erprobt, die nicht für eine Hochdosis-Chemotherapie und autologe Stammzelltransplantation in Betracht kommen. 

Die Patientenaufnahme in die L-MIND-Studie, MorphoSys‘ einarmige, unverblindete Studie, wurde abgeschlossen und die Daten werden derzeit ausgewertet. Die Topline-Ergebnisse der Studie werden voraussichtlich auf einer medizinischen Konferenz Mitte 2019 vorgestellt. MorphoSys beabsichtigt, auf Grundlage von L-MIND einen Zulassungsantrag bei der US-Gesundheitsbehörde FDA einzureichen, was voraussichtlich bis Ende dieses Jahres abgeschlossen sein wird. Parallel dazu wurden Gespräche mit nationalen europäischen Regulierungsbehörden aufgenommen, um die Möglichkeit zu prüfen, die L-MIND-Studie auch als Grundlage für eine Zulassung in Europa zu nutzen. Wenn die Europäische Arzneimittel-Agentur EMA zustimmen sollte, einen möglichen Zulassungsantrag (Marketing Authorization Application, MAA) auf Basis von L-MIND zu akzeptieren, könnte die Einreichung eines solchen möglichen MAA früher erfolgen als ursprünglich aufgrund der B-MIND-Studie erwartet wurde. MorphoSys wird sich in den kommenden Monaten eine Wissenschaftliche Beratung (Scientific Advice) durch die EMA einholen. 

Die B-MIND-Studie, die MOR208 in Kombination mit Bendamustin gegenüber Rituximab mit Bendamustin vergleicht, läuft wie ursprünglich geplant weiter. Darüber hinaus hat MorphoSys im ersten Quartal 2019 in Abstimmung mit der FDA eine Erweiterung (Study Amendment) der B-MIND-Studie vorgenommen. Die wissenschaftliche Grundlage für diese Erweiterung basiert auf veröffentlichter wissenschaftlicher Literatur sowie auf MorphoSys‘ eigenen präklinischen Daten, die darauf hinweisen, dass MOR208 besonders aktiv bei DLBCL-Patienten sein könnte, bei denen ein bestimmter Biomarker vorhanden ist. Die erweiterte B-MIND-Studie könnte im Falle einer zuvor erfolgten bedingten Zulassung von MOR208 auf Basis der L-MIND-Studie als Bestätigungsstudie (Confirmatory Study) dienen, sollte dies erforderlich sein. Dies gilt zusätzlich zu der Möglichkeit, dass die B-MIND-Studie für sich genommen ebenfalls zulassungsrelevant sein könnte. Gespräche mit der FDA über ein Biomarker-Testverfahren (Biomarker Assay) sind derzeit in Planung und werden voraussichtlich Mitte dieses Jahres stattfinden. Die geplante, durch vorab definierte Ereignisse gesteuerte Interimanalyse (Event-driven Interim Analysis) der B-MIND-Studie soll nach wie vor in der zweiten Jahreshälfte 2019 stattfinden. Abhängig von dem Ergebnis der Interimanalyse könnte eine Erhöhung der Patientenzahl in der Studie von 330 auf 450 erforderlich sein, in diesem Fall würde die ereignisgesteuerte Primäranalyse (Event-driven Primary Analysis) der Studie im erste Halbjahr 2021 erwartet. 

"Unsere L-MIND-Studie läuft wie geplant weiter und wir sehen uns auf gute Wege, unser Ziel zu erreichen, den Zulasssungsantrag bei der FDA in diesem Jahr einzureichen", sagte Dr. Malte Peters, Entwicklungsvorstand der MorphoSys AG. "Darüber hinaus hatten wir die ersten Gespräche mit Zulassungsbehörden in Europa hinsichtlich der Möglichkeit, die L-MIND-Studie möglicherweise für einen Zulassungsantrag in Europa nutzen zu können. Wir hoffen, dass wir uns in den nächsten Monaten ein klareres Bild von einem regulatorischen Weg in Europa machen können. Nach Gesprächen mit der FDA haben wir für unsere B-MIND-Studie ein zusätzliches primäres Studienziel definiert. Dieses basiert auf präklinischen Erkenntnissen, die auf die Beteiligung eines bestimmten Biomarkers hinweisen. Die erweiterte B-MIND-Studie ermöglicht es uns, zusätzlich die Hypothese zu testen, ob MOR208 eine erhöhte Aktivität bei denjenigen Patienten zeigt, die diesen Biomarker aufweisen, während wir weiterhin die Wirksamkeit in der gesamten Patientengruppe der Studie wie ursprünglich geplant untersuchen können." 

Über CD19 und MOR208

CD19 ist breit und homogen bei verschiedenen malignen B-Zell-Erkrankungen einschließlich DLBCL und CLL exprimiert. Es wurde gezeigt, dass CD19 am B-Zell-Rezeptor (BCR)-Signalweg beteiligt ist, was als wichtig für das Überleben der B-Zellen angesehen wird und CD19 zu einem potenziellen Ziel bei B-Zell-Erkrankungen macht.

MOR208 (früher Xmab(R)5574) ist ein humanisierter Fc-modifizierter monoklonaler Antikörper gegen CD19. Die Fc-Modifikation von MOR208 soll zu einer signifikanten Verstärkung der antikörperabhängigen zellvermittelten Zytotoxizität (ADCC) und der antikörperabhängigen zellulären Phagozytose (ADCP) führen und damit einen Schlüsselmechanismus der Tumorzellabtötung verbessern. MOR208 wurde in präklinischen Modellen untersucht, um eine direkte Apoptose durch Bindung an CD19 zu induzieren, die als eine entscheidende Komponente für die B-Zell-Rezeptor (BCR)-Signalübertragung angesehen wird.

MorphoSys untersucht MOR208 als therapeutische Option bei B-Zell-Malignomen in einer Reihe von laufenden Kombinationsstudien. Eine offene Phase-2-Kombinationsstudie (L-MIND-Studie) untersucht die Sicherheit und Wirksamkeit von MOR208 in Kombination mit Lenalidomid bei Patienten mit rezidivierender/refraktärer DLBCL, die nicht für eine Hochdosis-Chemotherapie (HDC) und autologe Stammzelltransplantation (ASCT) in Frage kommen. Basierend auf vorläufigen Daten von L-MIND hat die FDA im Oktober 2017 den Status Therapiedurchbruch für MOR208 plus Lenalidomid in dieser Patientenpopulation erteilt. Die zulassungsrelevante Phase 2/3 B-MIND-Studie soll MOR208 in Kombination mit dem Chemotherapeutikum Bendamustin bei Patienten mit rezidivierender/refraktärer DLBCL untersuchen, die im Vergleich zur Kombination des Anti-CD20-Antikörpers Rituximab plus Bendamustin nicht für eine hochdosierte Chemotherapie (HDC) und autologe Stammzelltransplantation (ASCT) geeignet sind. Darüber hinaus wird MOR208 derzeit bei Patienten mit rezidivierender/refraktärer CLL/SLL nach Absetzen einer früheren Bruton-Tyrosinkinase-Inhibitortherapie (z.B. Ibrutinib) in Kombination mit Idelalisib oder Venetoclax untersucht.

MorphoSys zukunftsbezogene Aussagen
Diese Mitteilung enthält bestimmte zukunftsgerichtete Aussagen über den MorphoSys-Konzern, einschließlich der klinischen Entwicklung von MOR208 in Kombination mit Lenalidomid in der L-MIND-Studie in r/r DLBCL, der klinischen Entwicklung von MOR208 in Kombination mit Bendamustin gegenüber Rituximab und Bendamustin in der B-MIND-Studie in r/r DLBCL und der weiteren klinischen Entwicklung von MOR208 ebenso wie Interaktionen mit den Zulassungsbehörden sowie Erwartunegn in Bezug auf Zulassungsanträge bzw. mögliche Zulassungen für MOR208. Die hierin enthaltenen zukunftsgerichteten Aussagen stellen die Einschätzung von MorphoSys zum Zeitpunkt dieser Mitteilung dar und beinhalten bekannte und unbekannte Risiken und Unsicherheiten, die dazu führen können, dass die tatsächlichen Ergebnisse, die Finanzlage und Liquidität, die Leistung oder Erfolge von MorphoSys oder die Branchenergebnisse wesentlich von den in diesen zukunftsgerichteten Aussagen zum Ausdruck gebrachten oder implizierten historischen oder zukünftigen Ergebnissen, finanziellen Bedingungen und Liquidität, Leistungen oder Erfolgen abweichen. Auch wenn die Ergebnisse, die Leistung, die Finanzlage und die Liquidität von MorphoSys sowie die Entwicklung der Branche, in der das Unternehmen tätig ist, mit solchen zukunftsgerichteten Aussagen übereinstimmen, können sie keine Vorhersagen über Ergebnisse oder Entwicklungen in zukünftigen Perioden treffen. Zu den Faktoren, die zu Unterschieden führen können, gehören dass die Erwartungen von MorphoSys in Bezug auf klinischen Entwicklung von MOR208 in Kombination mit Lenalidomid in der L-MIND-Studie in r/r DLBCL, der klinischen Entwicklung von MOR208 in Kombination mit Bendamustin gegenüber Rituximab und Bendamustin in der B-MIND-Studie in r/r DLBCL und der weiteren klinischen Entwicklung von MOR208 ebenso wie Interaktionen mit den Zulassungsbehörden sowie Erwartunegn in Bezug auf Zulassungsanträge bzw. mögliche Zulassungen für MOR208, falsch sind, die inhärenten Unsicherheiten im Zusammenhang mit Wettbewerbsentwicklungen, klinischen Studien und Produktentwicklungsaktivitäten sowie Zulassungsanforderungen, das Vertrauen von MorphoSys in die Zusammenarbeit mit Dritten und andere Risiken, wie sie in den Risikofaktoren in der Registrierungserklärung von MorphoSys auf dem Formular F-1 und anderen Unterlagen bei der US Securities and Exchange Commission angegeben sind. Angesichts dieser Unsicherheiten wird dem Leser empfohlen, sich nicht zu sehr auf solche zukunftsgerichteten Aussagen zu verlassen. Diese zukunftsgerichteten Aussagen beziehen sich nur auf das Datum der Veröffentlichung dieses Dokuments. MorphoSys lehnt ausdrücklich jede Verpflichtung ab, solche zukunftsgerichteten Aussagen in diesem Dokument zu aktualisieren, um eine Änderung der diesbezüglichen Erwartungen oder eine Änderung der Ereignisse, Bedingungen oder Umstände, auf denen diese Aussagen beruhen oder die die Wahrscheinlichkeit beeinflussen könnten, dass die tatsächlichen Ergebnisse von den in den zukunftsgerichteten Aussagen dargelegten abweichen, widerzuspiegeln, es sei denn, dies ist durch Gesetz oder Verordnung ausdrücklich vorgeschrieben.
 

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Wachstumsstrategie und veränderte Unternehmensstruktur in 2019

Die Management Angels GmbH schließt das Geschäftsjahr 2018 zum zweiten Mal in Folge mit einem Jahres-Rekordergebnis ab. Der erzielte Umsatz lag bei über 13 Mio. Euro. Das knapp 30-köpfige Team, an den beiden Unternehmensstandorten Hamburg und Frankfurt am Main, betreute über 170 Interim Mandate. Zusammen mit dem Schweizerischen Schwesterunternehmen GroNova, mit Sitz in Zug, sind die Management Angels Marktführer in der Region Deutschland, Österreich, Schweiz.

Im Mittelpunkt des Wachstumskurses der Management Angels für 2019 steht die Stärkung und Konzentration auf das Kerngeschäft des Unternehmens. Die Management Angels sind, seit ihrer Gründung im Jahr 2000, auf die Beratung und kurzfristige Besetzung anspruchsvoller Fach- und Führungspositionen mit selbständigen, persönlich bekannten Interim Managern spezialisiert. Der handverlesene Interim Manager Pool mit 2.500 persönlich bekannten Mitgliedern im Kern-Pool und 7.000 Mitgliedern im Gesamtpool ist Erfolgsgarant und Alleinstellungsmerkmal.

Veränderung der Unternehmensstruktur

Im Rahmen der Wachstumsstrategie sowie des Zusammenschlusses der Management Angels GmbH mit der Schweizer GroNova AG, wird es ab Februar 2019 eine Veränderung in der Unternehmensstruktur geben. Das seit 2015 bestehende Franchisemodell unter der Leitung von Tilo Ferrari (Management Angels InterimIN GmbH) wird nicht fortgesetzt. Die Management Angels haben in enger Abstimmung mit dem Franchisenehmer die rechtliche Entkopplung beschlossen. Beide Unternehmen werden in Zukunft vollständig getrennt voneinander am Markt agieren. Konkret heißt dies, dass die Management Angels InterimIN GmbH, mit Sitz in Frankfurt am Main, ab dem 1.2.2019 unter der Firmierung Deutsche Interim AG eigenständig und unabhängig als Interim Management Provider am Markt agieren wird.

Enge Kooperation und „friendly competition“

Die langjährige Zusammenarbeit soll in Form einer vertrauensvollen Netzwerkpartnerschaft weitergeführt werden. Dazu Erdwig Holste, Geschäftsführer der Management Angels: „Wir wünschen Tilo Ferrari und seinem Team viel Erfolg und bedanken uns für die enge und sehr gute Zusammenarbeit. Die Auflösung des Franchisekonzeptes ist keine Entscheidung gegeneinander, sondern eine Entscheidung für eine veränderte Ausrichtung, die beiden Seiten mehr Raum zur Ausgestaltung der eigenen Geschäftsmodelle bietet.“ Tilo Ferrari, Vorstand der Deutschen Interim AG kommentiert, „die Management Angels waren ein vertrauensvoller und sehr professioneller Partner und Franchisegeber. Der Interim Markt in Deutschland ist heute so vielfältig, dass er Raum für ganz unterschiedliche Ansätze und Positionierungen bietet. Das wollen wir nutzen.“

Niederlassung Frankfurt am Main

Die bereits seit 2008 bestehende Niederlassung in Frankfurt am Main bleibt fester Ankerpunkt der Management Angels in der Region Rhein-Main. Unter der Leitung des Senior Consultants Mark von Hauenschild soll der Standort in 2019 personell erweitert werden.

So wie die Zentrale in Hamburg betreut auch die Niederlassung in Frankfurt funktionsübergreifend Mandate für die Branchen Industrie/Automotive, Energie, Life Sciences, Digital Business sowie Handel/Dienstleistungen.

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Ravenquest’s George Robinson appointed acting President & CEO of Bonify

RavenQuest BioMed Inc. (the “Company” or “RavenQuest”) – (CSE: RQB, OTCQB: RVVQF, Frankfurt: 1IT) announces George Robinson, CEO, has been named interim President & CEO of Bonify Medical Cannabis (BMC), Ltd. (“Bonify”).

Bonify Chairman, Jeffery Dyck, stated that “George Robinson’s knowledge and experience is superb when it comes to cannabis production pursuant to Health Canada regulations.  In the wake of our recent product recall, Robinson and his team at RavenQuest have been instrumental in preserving Bonify’s licenses to cultivate, process and sell cannabis.”

“The appointment of Mr. Robinson as acting President & CEO of Bonify is a natural evolution as our organization takes corrective action to emerge as a stronger, compliant and operationally sound licensee moving forward” Dyck continued.

About RavenQuest BioMed Inc.

RavenQuest BioMed Inc. is a diversified publicly traded cannabis company with divisions focused upon cannabis production, management services & consulting and specialized research & development.  RavenQuest is a licensed producer with facilities located in Markham, Ontario and Edmonton, Alberta.  RavenQuest maintains a research partnership with Montreal’s McGill University focused upon cultivar (strain) recognition, plant stabilization and yield maximization of the cannabis plant.  The Company focuses on partnerships with Indigenous communities.

On Behalf of the Board of Directors of
RAVENQUEST BIOMED INC.

“George Robinson”
Chief Executive Officer

For further information, please contact:
Mathieu McDonald, Corporate Communications – 604-484-1230

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to the Company within the meaning of applicable securities laws, including statements with respect to any future performance of Bonify.  The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedar.com.  Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements.  The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

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Transaction volume in 9M/18 increased by 44.2 percent

Wirecard AG had an extremely successful third quarter and first nine months of the current 2018 fiscal year.

Transaction volumes processed through the Wirecard platform grew in the first nine months of 2018 by 44.2 percent to EUR 90.2 billion (9M/2017: EUR 62.5 billion).

In this period, consolidated revenues increased by 41.4 percent to EUR 1.4 billion (9M/2017: EUR 1.0 billion). In the first nine months, earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 38.0 percent to EUR 395.4 million (9M/2017: EUR 286.6 million).

In the third quarter of 2018, consolidated revenues for the Group increased by 34.8 percent to EUR 547.1 million (Q3/2017: EUR 405.9 million). EBITDA increased by 36.3 percent to EUR 150.1 million (Q3/2017: EUR 110.1 million).

Earnings after tax increased in the nine month period 2018 by 48.5 percent to EUR 250.2 million (9M/2017: EUR 168.5 million).

The cash flow from operating activities (adjusted) amounted to EUR 310.1 million. Free cash flow increased by 42.0 percent to EUR 257.3 million (9M/2017: EUR 181.2 million).

Wirecard CEO Dr. Markus Braun commented: "We expect strong business growth in both the fourth quarter of 2018 and also the coming 2019 fiscal year."

In view of the strong business performance, the Management Board has increased its EBITDA forecast for the 2018 fiscal year to between EUR 550 million and EUR 570 million (previously EUR 530 million to EUR 560 million).

The Q3/9M 2018 Interim Report as of 30 September 2018 is available on the company’s website at: ir.wirecard.com/financialreports

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Sales grow despite difficult market conditions, margin decrease

  • Revenue grows 5.1 percent at constant currency in the first nine months
  • EBIT margin before special items for the same period at 10.7 percent (prior year: 11.4 percent)
  • Performance declines in both Automotive divisions, Industrial division business remains strong
  • Free cash flow before in- and outflows for M&A activities of 127 million euros below prior year (247 million euros)
  • Increased focus on discipline regarding cost and capital

Global automotive and industrial supplier Schaeffler presented its interim report for the first nine months of 2018 today. The Schaeffler Group’s revenue for the reporting period amounted to approximately 10.7 billion euros (prior year: approximately 10.5 billion euros). At constant currency, revenue increased by 5.1 percent during the period, 3.7 percent in the third quarter. As was the case for the first half of 2018, all three divisions and all four regions contributed to the group’s revenue growth at constant currency during the first nine months, with the Greater China region once more reporting the largest revenue constant currency growth rate of 14.3 percent.

The Schaeffler Group generated earnings before financial result and income taxes (EBIT) before special items of 1,150 million euros (prior year: 1,196 million euros) in the first nine months. This represents an EBIT margin before special items of 10.7 percent (prior year: 11.4 percent). EBIT before special items for the third quarter was 355 million euros (prior year: 416 million euros), representing an EBIT margin before special items of 10.1 percent (prior year: 12.1 percent).

Net income attributable to shareholders for the reporting period was 766 million euros, nearly on par with the prior year level (of 791 million euros). Earnings per common non-voting share were 1.16 euros (prior year: 1.19 euros).

Klaus Rosenfeld, CEO of Schaeffler AG, commented on the performance of the business in the first nine months and in the third quarter: “The third quarter has once again demonstrated how important it is for us to be an automotive as well as an industrial supplier. While our Automotive OEM business is affected by the weak market trend in China, our Industrial business continued to do well during the third quarter. This division grew its revenue grew faster than the market and generated an EBIT margin before special items of 12.1 percent.”

Automotive OEM revenue growth less dynamic due to market conditions

The Automotive OEM division generated approximately 6.8 billion euros (prior year: approximately 6.7 billion euros) in revenue during the reporting period. At constant currency, revenue increased by 4.3 percent compared to the prior year, a growth rate 3.5 percentage points above the 0.8 percent average growth in production volumes of passenger cars and light commercial vehicles for the reporting period. Following the encouraging revenue trend in the first six months, the Automotive OEM division reported less dynamic revenue growth of 3.2 percent in the third quarter due to the persistently challenging environment in the automotive sector. In the third quarter, which saw global automobile production decline by 2 percent, outperformance amounted to 5.2 percentage points.

The lower growth rate was mainly attributable to weaker demand in the Europe and Greater China regions. In Europe, this weaker demand was mainly due to production delays resulting from the changeover to the new WLTP emissions standard, while China felt the effect of consumer restraint due to the trade conflict with the U.S. and stricter lending practices. All four of the Automotive OEM division’s business divisions contributed to its revenue growth on a nine months basis, with the E-Mobility business division once more reporting the highest revenue growth rate at constant currency, 13.6 percent. Despite the less dynamic growth of the Automotive OEM division’s revenue in the Greater China region in the third quarter, this region still showed the highest growth rate of 9.5 percent, followed by 5.7 percent in the Americas region, 2.4 percent in Asia/Pacific, and 2.2 percent in Europe.

The division generated 596 million euros (prior year: 712 million euros) in EBIT before special items in the first nine months, bringing the EBIT margin before special items for the same period to 8.8 percent, less than the prior year margin of 10.7 percent. The decrease was primarily attributable to ramp-up costs, project delays in China, increased production costs – due to factors including increased raw materials prices – and the impact of the revenue mix. According to the latest full-year guidance for 2018 issued October 30, 2018, the division aims to achieve constant currency revenue growth of 3.5 to 4.5 percent (previously: 4.5 to 5.5 percent) and an EBIT margin before special items of 8 to 8.5 percent (previously: 8.5 to 9.5 percent).

Automotive Aftermarket revenue drops temporarily in the third quarter

Following a solid first six months overall, the Automotive Aftermarket division reported a drop in revenue for the third quarter compared to the prior year quarter. At constant currency, revenue declined by 3.0 percent. Based on the first nine months of 2018, the division expanded its revenue by 1.3 percent at constant currency, generating 1,401 million euros in revenue (prior year: 1,434 million euros). The decrease in third-quarter revenue was primarily attributable to strong growth in the Europe and Americas regions in the prior year quarter. As was the case for the first six months, the Greater China (39.0 percent) and Asia/Pacific (16.0 percent) regions reported the strongest constant currency revenue growth for the first nine months, followed by Europe (1.9 percent). Revenue in the Americas region on an adjusted basis declined (by 8 percent) due to non-recurring additional requirements of an Original Equipment Services (OES) customer in the prior year period.

The Automotive Aftermarket division’s EBIT before special items for the first nine months amounted to 256 million euros (prior year: 278 million euros). Based on this EBIT, the EBIT margin before special items was 18.3 percent (prior year: 19.4 percent). Reasons for the decline from prior year include temporarily higher costs of selling and logistics activities. Based on the adjusted full-year guidance issued October 30, 2018, the group now expects revenue growth for the Automotive Aftermarket division of 1.5 to 2.5 percent (previously: 3 to 4 percent) at constant currency and an EBIT margin before special items of 17 to 17.5 percent (previously: 16.5 to 17.5 percent) in 2018.

Performance of Industrial business remains encouraging in the third quarter

During the third quarter, the Industrial division significantly increased its revenue to 854 million euros (prior year: 790 million euros), which represents an increase of 9.4 percent at constant currency. This increase brought revenue for the first nine months of 2018 to approximately 2.5 billion euros (prior year: approximately 2.4 billion euros). At constant currency, revenue growth for the reporting period amounted to 9.8 percent and was primarily driven by Industrial Distribution. The double-digit constant currency revenue growth rates generated by the raw materials, power transmission, railway, and offroad sector clusters contributed considerably to the higher revenue as well. Like all of the sectors, all of the regions increased their revenue, as well. The largest growth rate at constant currency was reported by the Greater China region (29.4 percent), ahead of Asia/Pacific (8.7 percent), Americas (8 percent), and Europe (6 percent).

The Industrial division generated 298 million euros (prior year: 206 million euros) in EBIT before special items for the first nine months, representing an EBIT margin before special items of 11.8 percent (prior year: 8.7 percent). The improved margin is attributable to the favorable impact of economies of scale as well as to efficiency gains and cost savings resulting from the program “CORE”. On October 30, 2018, the Schaeffler Group confirmed its full-year guidance for the Industrial division’s constant currency revenue growth for 2018, which it had raised on September 19, 2018, of 8 to 9 percent. The target for the EBIT margin before special items of 10 to 11 percent has now been refined to 10.5 to 11 percent.

Positive free cash flow in the third quarter

At 201 million euros (prior year: 333 million euros), free cash flow before in and outflows for M&A activities for the third quarter was positive. For the first nine months, it amounted to 127 million euros, falling short of the prior year level (247 million euros), primarily due to lower earnings quality and the higher amount of capital tied up in inventories. Capital expenditures (capex) on property, plant and equipment and intangible assets for the first nine months of 857 million euros were slightly below the prior year level (873 million euros), representing a capex ratio of 8 percent of revenue (prior year: 8.3 percent).

Dietmar Heinrich, CFO of Schaeffler AG, said: “We are aiming to maintain a capex ratio of approximately 8 percent as at year-end as well. For this purpose, we will manage our capital expenditures restrictively in the fourth quarter. In combination with the reduction of inventory levels, this will have a favorable effect on free cash flow”.

Net financial debt as at September 30, 2018, increased by 274 million euros to 2,644 million euros, lowering the gearing ratio, i.e. the ratio of net financial debt to shareholders’ equity, to 91 percent (December 31, 2017: 93 percent). As at September 30, 2018, the Schaeffler Group had total assets of approximately 12.3 billion euros (prior year: approximately 11.5 billion euros) and employed a workforce of 92,836 (prior year: 89,359), an increase of approximately 3.9 percent.

Based on the adjusted full-year guidance issued October 30, 2018, the Schaeffler Group now anticipates revenue growth of 4 to 5 percent (previously 5 to 6 percent) at constant currency, an EBIT margin before special items of 9.5 to 10.5 percent (previously 10.5 to 11.5 percent), and free cash flow before cash in- and outflows for M&A activities of approximately 300 million euros (previously approximately 450 million euros).

“The situation of the global automotive industry has deteriorated further over the past seven weeks, particularly in China and also in Europe. Against this backdrop, and although our Industrial business enables us to partially offset this deterioration, it is essential that we manage our business as proactively and carefully as possible and align our resources with the changing market environment. Discipline regarding cost and capital is what counts now”, stated Klaus Rosenfeld.

Forward-looking statements and projections

Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.

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DEUTZ AG: Saarbrücken Regional Court orders Neue Halberg Guss GmbH to resume supply to DEUTZ AG immediately

Resounding success for DEUTZ in injunction proceedings Dr Frank Hiller, Chairman of the Board of Management: "The madness has come to an end." Planning certainty for employees and customers of DEUTZ AG.

At the request of DEUTZ AG, the Saarbrücken Regional Court today ruled that Neue Halberg Guss GmbH (NHG) must resume supplying cast parts to DEUTZ AG as contractually agreed with immediate effect. The decision, issued in the form of a mandatory injunction Leistungsverfügung, provides DEUTZ AG with security of supply in respect of crankcases and cylinder heads. The injunction is initially valid until the end of the year. Should it be necessary in the future, DEUTZ AG will not hesitate to use all legal means at its disposal to ensure it is able to maintain a reliable supply to its customers.

"The madness has come to an end. NHG will finally have to meet its commitments. This is a breakthrough for DEUTZ AG and our customers," said Dr Frank Hiller, Chairman of the Board of Management of DEUTZ AG, welcoming the decision. "We now have planning certainty – that’s the most important thing."

DEUTZ AG felt it had no option but to apply for an interim injunction when NHG, its partner of many years, demanded significant price increases, one-off payments amounting to millions of euros and firm purchase commitments in return for continuing to supply the parts, even though a valid contract was still in force and there was no legal basis for making such demands.

The court’s decision confirms our view that contracts must be honoured and, in a globalised world, suppliers must assume a special responsibility," commented Dr Frank Hiller.

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Immungenetics AG: Last Patient Last Visit (LPLV) reached in first part of the DrainAD Study, a Phase 2 trial for the early diagnosis and causative treatment of Alzheimer’s Disease (AD)

Immungenetics AG, a German based biopharmaceutical company focusing on novel treatments for unmet medical needs in the field of neurodegenerative, autoimmune diseases and aging, announced today that the last study visit of the last patient enrolled (Last Patient’s Last Visit, LPLV) occurred on 06 June 2018 in the first subgroup of DrainAD, a Phase II proof-of-concept study for the early diagnosis and causative therapy of Alzheimer’s Disease (AD).
The DrainAD study is structured in two parts aiming at the early detection and monitoring of AD by means of a blood test, as well as at developing a novel treatment for altering the course of the disease; a treatment that may halt or even reverse disease progression.
The completed subgroup of fourteen participants (seven patients with newly diagnosed early-to-mild dementia due to Alzheimer’s Disease and seven healthy volunteers) received a daily dosage of 26 mg of the drug thiethylperazine for four consecutive days. The investigation was conducted at the University of Göttingen under supervision of Prof. Jens Wiltfang. More than 150 blood samples were obtained and will be analyzed at five labs under different aspects.
Interim results for the primary endpoints safety and tolerability as well as efflux of amyloid beta peptides after drug administration are expected to be available in the third quarter of 2018. These findings will also serve to decide if a similar exercise with a 52 mg daily regimen is to be undertaken. Additional data mining will deliver further insights later this year.
"This is a significant milestone towards elucidating this novel angle of attack against this devastating disease.", commented Antonio Martinez Arbizu, CEO of Immungenetics. "We would like to thank all trial participants and medical professionals who helped executing step one of DrainAD, and are very much looking forward to share our results in a couple of months."
The new mechanism of action being investigated by DrainAD is the capability of thiethylperazine to activate so called ABC-transporters,  especially ABCC1 at the chosen dosage. ABC-transporters located at the blood-brain barrier are in charge of the export of toxic substances like beta amyloid species (ABeta) from the brain into the blood stream. This was demonstrated by Prof. Jens Pahnke (University of Rostock then, now University of Oslo) in transgenic AD-mice: treated with thiethylperazine, toxic ABeta was reduced by 70% within 25 days (1).
In a second, award winning research paper, Pahnke proved the ABC transporter hypothesis in a non-transgenic early AD mouse model. The article verified recent evidence that sporadic Alzheimer’s disease (AD), which counts for more than 98% of all cases, is not caused by an overproduction of the neurotoxic ABeta peptide but by its impaired clearance from the brain and that soluble ABeta species are the main scourge of the disease (2).

Science:
1) Krohn et al. 2011: "Cerebral amyloid-β proteostasis is regulated by the membrane transport protein ABCC1 in mice." J Clin Invest. 2011 Oct 3; 121(10): 3924-3931.
2) Krohn et al. 2015: "Accumulation of murine amyloid-β mimics early Alzheimer’s disease." Brain, 138(Pt8):2370-82.

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