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Ekotechnika AG continues to grow in the first half of 2018/2019

2019.06.06

• Group sales revenues of approx. EUR 51 million (+15%)

• Gross profit at approx. EUR 10 million (+14%)

• Operating result (EBIT) increases to EUR 1.8 million (+163%)

• New machinery sales at good level, spare parts trade and service business with continued growth

Walldorf, 6 June 2019 – Ekotechnika AG (Primary Market; ISIN: DE000A161234), the German holding company of the EkoNiva-Technika Group, the largest dealer of international agricultural machinery in Russia, continued to develop positively in the first half of the financial year 2018/2019 (30 September).  Based on preliminary figures, the company recorded an increase in sales revenues of about 15% to approx. EUR 51 million compared to the first half of 2017/2018 (EUR 45.2 million). Gross profit also rose from EUR 8.8 million to approx. EUR 10 million (+14%). The operating result (EBIT) increased significantly by 163% to EUR 1.8 million, which is clearly above the previous year’s level (EUR 0.7 million).

In the seasonally weaker first half of the year, sales of new machinery continued to develop well. While sales of tractors and combines declined slightly to 65 (previous year: 72) and 6 (previous year: 9), respectively, the company’s sales of other machinery grew significantly. Sales of telescopic handlers increased, for example, noticeably to 113 (previous year: 62). After-sales services, including sales of spare parts, lubricants, tires and rendering of services, which are very important for the Group’s stability, also continued to develop positively in the first six months of the year, with sales revenues on ruble basis up by approx. 15%.

Bjoerne Drechsler, member of the Executive Board of Ekotechnika AG: “We are very satisfied with the development in the current financial year to date. Especially in the area of smart farming, our Precision AG Lead Farm project made significant progress, which we will report in greater detail shortly.”

The interim report on the first six months of the financial year 2018/2019 of Ekotechnika AG (31 March) will be published on Friday, 28 June 2019.