HELMA Eigenheimbau AG publishes preliminary FY 2017 results
Lehrte, March 15, 2018 - HELMA Eigenheimbau AG has today published its detailed preliminary IFRS consolidated results for the 2017 financial year, which lie within the range of expectations announced as part of an ad hoc announcement published on January 12, 2018. After revenue and earnings in each of the past nine years have recorded significant growth, both figures in 2017 lay approximately at the previous year's record level.
Consolidated revenue in the financial year elapsed rose slightly from EUR 263.8 million to EUR 267.4 million. While the revenue shares of HELMA Eigenheimbau AG decreased from EUR 91.9 million to EUR 85.1 million and at HELMA Wohnungsbau GmbH reduced from EUR 139.4 million to EUR 133.4 million, the revenue of HELMA Ferienimmobilien GmbH rose from EUR 31.7 million to EUR 48.1 million. Hausbau Finanz GmbH contributed EUR 0.9 million to consolidated revenue, as in the previous year.
In terms of earnings, the HELMA Group continued to report a high level of profitability in the 2017 financial year. Consolidated EBIT adjusted for the disposal of capitalised interest amounted to EUR 22.1 million (previous year: EUR 22.2 million). This is equivalent to an adjusted EBIT margin of 8.3 %, only slightly below the previous year's 8.4 %. The disposal of capitalised interest comprised a volume of EUR 1.9 million in 2017 (previous year: EUR 0.5 million), thereby generating unadjusted consolidated EBIT of EUR 20.2 million (previous year: EUR 21.7 million). After a net financial result of EUR -1.1 million (previous year: EUR -2.1 million), earnings before tax (EBT) stood at EUR 19.1 million (previous year: EUR 19.6 million). Consolidated net income after deducting minority interests amounted to EUR 13.0 million (previous year: EUR 13.5 million), representing a 4.9 % return on sales revenue (previous year: 5.1 %). Overall, the company reported EUR 3.25 of earnings per share in 2017 (previous year: EUR 3.37).
The solid equity capital backing of the HELMA Group was further secured in the 2017 financial year. Due to the continued high level of profitability during the financial year elapsed, equity was up from EUR 80.2 million to EUR 88.8 million as of the balance sheet date. Given total assets of EUR 317.7 million (December 31, 2016: EUR 278.2 million), the company reports an equity ratio of 28.0 % (December 31, 2016: 28.8 %).
After the HELMA Group increased its earnings before tax (EBT) more than tenfold between 2010 and 2016 from EUR 1.9 million to EUR 19.6 million, the 2017 financial year represented the first year without year-on-year earnings growth for many years. However, adjustments to the company's structure and business processes were implemented successfully in 2017, which were necessitated by a significant rise in business volumes as well as changes to the market environment. These should enable sustainable earnings growth in the future. For the coming years, the company is aiming for double-digit percentage growth in its EBT, which for the 2018 financial year is expected in a range between EUR 21.0 million and EUR 22.5 million and for 2019 in a range between EUR 23.5 million and EUR 26.0 million. This generates a range for planned earnings per share of between EUR 3.62 and EUR 3.88 for 2018, and of between EUR 4.05 and EUR 4.49 for 2019.
Key financials at a glance:
An overview of the preliminary financials for the HELMA Group for the 2017 financial year can be downloaded at the link below. The 2017 annual report and dividend proposal for the 2017 financial will be published on April 12, 2018.
About HELMA Eigenheimbau AG:
HELMA Eigenheimbau AG is a customer-oriented building services-provider offering a full range of services. The focus is on the development, planning, sale, and construction management of turnkey or partially completed detached and semi-detached houses using the solid construction method. Particularly the option of individual planning and individualisation without extra costs, as well as the company's outstanding know-how in the area of energy-efficient construction methods, are perceived on the markets as HELMA Eigenheimbau AG's unique selling propositions. With its persuasive sustainable energy concepts, the company has established itself as one of the leading providers of solar energy-saving homes, and is one of the most experienced companies in the solid construction house sector, having constructed several thousand owner-occupier homes. As a property development company, holiday home builder, and finance broker respectively, HELMA Wohnungsbau GmbH, HELMA Ferienimmobilien GmbH and Hausbau Finanz GmbH round out HELMA Group's product range.
Investor Relations contact:
Gerrit Janssen, Management Board member/CFO
Tel.: +49 (0)5132 8850 345
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