Stemmer Imaging achieves razor-thin organic growth in 2019
Without acquisitions, the sales of Stemmer Imaging would have grown by 0.4 percent in the short fiscal year 2019. Including the first-time consolidation of the Infaimon Group, however, the books were up 22.8%. The Sports & Entertainment, Food & Agriculture and Healthcare end markets were mainly responsible for the slight sales increase.
The adjusted Group EBITDA amounts to around EUR 4.8 million (previous year: EUR 4.0 million) and is thus - as already reported on 20 February 2020 - below the originally forecast range of EUR 6.0 to 7.5 million. This was due to additional expenses for organisational and structural measures as well as development projects brought forward. In addition, there were numerous short-term call-off orders with above-average resource-intensive project business towards the end of 2019, which had not been taken into account in the earnings forecast.
Annual General Meeting is held virtually
Due to the current spread of the COVID-19 pandemic and the associated health risks, it is planned to hold the Annual General Meeting in virtual form for the first time this year. The Executive Board has decided to make use of a new legal provision to this effect. The virtual Annual General Meeting is to take place on the scheduled date of June 22, 2020 from 11:00 a.m. Further details will be provided in the invitation.