DGAP-News: Francotyp-Postalia Holding AG
/ Key word(s): Quarterly / Interim Statement/Quarter Results
FP continues growth path in revenue and profit in the first quarter of 2022
Group revenue rose by 26.5% to EUR 65.2 million in the first three months of the current year compared to EUR 51.5 million in the same period of the previous year. The first quarter is traditionally a strong quarter at FP, but in the previous year it was weaker than usual due to the pandemic. Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 101.4% to EUR 10.3 million after EUR 5.1 million in the same period of the previous year, with the EBITDA margin thus reaching 15.8%. Despite the acquisition of the Azolver Group, free cash flow came to EUR 2.0 million as compared to EUR 4.5 million in the same period of the previous year – adjusted for this effect, normalised free cash flow amounts to EUR 6.1 million.
Revenue in the Digital Business Solutions business unit grew by 42.2% to EUR 6.4 million in the reporting period, after EUR 4.5 million in the same period of the previous year. This business unit is also benefiting from the measures initiated under the transformation programme and focuses on business models with a clear value proposition for the customers and significant potential to scale for FP. In the Output Management area, higher customer activity was reported in the first quarter. Another revenue driver is the FP Sign signature solution, which is benefiting both from last year's sales successes with recurring revenues and increased new customer acquisition. In the De-Mail/eJustice communication area , there is an overall increase in customer demand in addition to a competitor's withdrawal from the De-Mail market.
Revenue in the Mail Services business unit rose by 41.9% to EUR 23.5 million, compared to EUR 16.6 million in the same period of the previous year. In addition to the effects from the postal rate change at the beginning of 2022, revenue is higher than usual due to a higher share of franking services as a result of Corona-related staff absences at customers and one-off mailings in the first quarter.
At the end of March 2022 FP acquired all shares of the operating companies of the Azolver Group. With this acquisition, FP is expanding its position in the market for mailing, shipping & office solutions in Norway, Sweden, Finland, Denmark, Switzerland and Italy. At the same time, Azolver's SaaS-based solutions, such as asset tracking, strengthens the digital offering of FP and are being further developed. The Technology and Services Centre in Estonia will be an important component in leveraging the transformation programme FUTURE@FP. Azolver's revenue and earnings contributions will be visible in FP's figures for the following three quarters of 2022.
FUTURE@FP transformation program having positive effects
CFO Martin Geisel explains: “The figures for the first quarter of 2022 are good. Our measures from the FUTURE@FP transformation programme are having positive effects on our key figures. The revenue performance in the traditionally strong first quarter is pleasing, and we also significantly increased profitability. However, we are not going to rest, but will rather continue on this path.”
The positive development confirms to the management that it is setting the right strategic direction for the FP Group.
Due to the continuing uncertain geopolitical and economic situation, the ongoing pandemic situation and the global supply chain issues, the forecast for fiscal 2022 is being maintained.
Earnings per share rise to EUR 0.33
Amortisation, depreciation and write-downs increased slightly by 4.9% to EUR 4.9 million in the first three months of 2022. EBIT thus improved to EUR 5.4 million compared with EUR 0.4 million in the previous year. As a result of the improvement in EBIT, consolidated profit amounted to EUR 5.3 million as against EUR 0.8 million in the same period of the previous year. Earnings per share (EPS) climbed to EUR 0.33 compared to EUR 0.05 in the same period of the previous year.
Forecast for 2022 confirmed
Key figures at a glance:
The quarterly report can be downloaded here: Current Reporting (fp-francotyp.com)
Statements in this press release relating to the future development and forecasts of the Group are based on our careful assessment of future events. Any negative macroeconomic developments beyond this may cause actual results for fiscal 2022 to differ from the forecast figures.
25.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Francotyp-Postalia Holding AG|
|Prenzlauer Promenade 28|
|Phone:||+49 (0)30 220 660 410|
|Fax:||+49 (0)30 220 660 425|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1360463|
|End of News||DGAP News Service|