Einhell Germany AG: Business development 1st quarter 2022 / increase of forecast range / revenues and earnings before tax FY 2021

Business development 1^st quarter 2022 / increase of forecast range / revenues and earnings before tax FY 2021

Einhell Germany AG (ISIN: DE 0005654933) listed under Prime Standard of Deutsche Börse AG announces the following:

In the first quarter of 2022, the Einhell Group was able to generate sales of approx. EUR 290 million compared to EUR 229.6 million in the previous year. The newly acquired subsidiary Outillages King Canada has been included in sales for the first time since March 1, 2022 at around EUR 3,3 million.

Due to this positive development and the very good order situation, the group is increasing its forecast for organic sales growth for the 2022 financial year. The Management Board assumes that an organic sales growth at the upper end of the previous forecast range, i.e. of approx. 10 % (previously 5 -10 %), could be achieved. This means a forecast turnover for 2022 of approx. EUR 1,020 million. In addition, a further approx. EUR 30 million is forecast for 2022 as a result of the takeover of the Canadian company Outillages King Canada.

The group is also increasing its pre-tax return forecast for the 2022 financial year from around 8.5 % to around 8.5 - 9.0 %.

The effects of the Russia-Ukraine war on business development in both countries cannot yet be conclusively assessed. The sales of the two national companies amounted to approx.
1.2 % of the group sales in 2021.
The situation on the procurement market also remains tense. Due to the rigid Corona containment measures in China, ports or individual port terminals in Asia can be closed again and again. The availability of raw materials and components and their price development can also have a fundamental impact on business development in 2022. The Einhell Group has taken precautions by increasing inventories accordingly.
Effects of the inflationary tendencies on the demand of the end consumers are currently not yet to be observed, but cannot be ruled out in principle.
In the medium to long term, the Management Board assumes that business will continue to develop very positively and will continue to push ahead with strategic goals such as the expansion of the Power X-Change platform and the development of the Einhell brand, as well as international expansion.

In the past fiscal year 2021, the Einhell Group was able to generate consolidated sales of EUR 927.4 million compared to EUR 724.7 million in the previous year.

According to preliminary figures, earnings before taxes amount to EUR 81.8 million (previous year: EUR 56.4 million). The return on sales increased from 7.8 % to 8.8 % in 2021. Earnings per share increase to EUR 15.5 (previous year: EUR 10.9).

There is a dividend proposal from the Management Board, which still has to be approved by the Supervisory Board. According to this proposal, the Board of Directors will propose an increased dividend of EUR 2.60 per preferred share (previous year: EUR 2.20) and EUR 2.54 per ordinary share (previous year: EUR 2.14) to the Annual General Meeting due to the successful business development.

Landau/Isar, April 07 2022

The Board of Directors