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Ekotechnika: targets are missed – ruble causes unrest

The weak ruble provides Ekotechnika with a sales and profit warning. The targets for 2019/2020 will therefore be missed. The ruble was recently under massive pressure. At the end of Ekotechnika’s financial year on September 30, the rate was 93 rubles to the euro. The forecast of the Walldorfers, however, was based on an exchange rate of 73 rubles / euro.

Ekotechnika actually wanted to generate sales of EUR 200 million to EUR 213 million in the past financial year. The gross profit should be between 30 million euros and 33 million euros. The EBIT was assumed to be between 9 million euros and 12 million euros.

Ultimately, Ekotechnika reports sales of 194 million euros (previous year: 160 million euros). Adjusted for currency effects, sales would be more than EUR 200 million. The gross profit stands at around 37 million euros and can therefore surprise positively. Ekotechnika comes to an EBIT of around 5.5 million euros (previous year: 11.3 million euros).

The unrealized currency losses are stated at around 9.5 million euros. These should have a correspondingly positive impact on Ekotechnika’s results in 2020/2021.

Ekotechnika plans to publish the final figures for the past financial year in January 2021.

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