va-Q-tec confirms preliminary financial results: FY 2016 revenue up 58% to EUR 35.5 million, adjusted EBITDA reports faster growth rate of 90% to EUR 7.0 million
- 2016 revenue at EUR 35.5 million compared with EUR 22.5 million in 2015 (+58%)
- Adjusted EBITDA 2016: EUR 7.0 million compared with EUR 3.7 million in 2015 (+90%); adjusted EBITDA margin improves from 12% to 16% in 2016
- IPO in September 2016 lays foundation for further growth
- Original expectations for revenue and adjusted EBITDA significantly exceeded
- Strong Products, Systems and Services businesses all contribute to growth
Würzburg, 27 April 2017. va-Q-tec AG (ISIN DE0006636681 / WKN 663668), a technologically leading provider of highly efficient products and solutions in the area of thermal insulation and cold chain logistics, confirms the financial figures for the 2016 financial year it already pre-announced at the end of March. Growth in revenue and adjusted EBITDA in 2016 was stronger than originally expected.
The va-Q-tec Group increased its IFRS revenue by 58%, from EUR 22.5 million in 2015 to EUR 35.5 million in 2016. Total income was up by 45% from EUR 29.6 million in the previous year to EUR 42.9 million in 2016. Earnings before interest, tax, depreciation and amortisation (EBITDA) adjusted for EUR 1.7 million of special effects due to the IPO rose at a faster rate than the top line, jumping 90% from EUR 3.7 million to EUR 7.0 million. This corresponds to a four percentage point improvement in the adjusted EBITDA margin from 12% in the previous 2015 financial year to 16% in 2016.
The strong 2016 financial year reflects the positive trend in all of the Group’s business areas – Products, Systems and Services. The Products business grew 53% from EUR 7.4 million EUR 11.3 million. Revenues in the Systems business were up by 96% from EUR 5.3 million to EUR 10.4 million. Revenues in the Services business increased by 40% from EUR 9.4 million to EUR 13.2 million.
As a result of successful business development, va-Q-tec succeeded last year in establishing innovative technologies and services – in many cases faster than expected – in new industries and at new customers. Large-scale orders in the Systems business (sale of thermal boxes) to pharmaceuticals and logistics companies, as well as in the Products business, such as to refrigerator and hot water tank manufacturers, made a key contribution to revenue and earnings growth.
Expansion of the Services business was also important to the growth spurt: in the rental of temperature-controlled containers, numerous further freight lanes were added in 2016, including more than 50 commercial lanes during the second half of 2016. Revenues generated from renting small boxes to the pharmaceuticals industry also reported a significant increase in 2016.
The financial and results figures for the 2016 financial year, as well as the outlook for the 2017 financial year, are published today 27 April 2017 and made available on the website at ir.va-q-tec.com.
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va-Q-tec is a leading provider of highly efficient tech products and solutions in the field of thermal insulation and cold chain logistics. The Company develops, manufactures and sells innovative, thin vacuum insulation panels (“VIPs”) and phase change materials (“PCMs”) for reliable and energy efficient temperature control and insulation. Furthermore, by optimally integrating VIPs and PCMs, va-Q-tec manufactures passive thermal packaging solutions (containers and boxes), which offer constant temperature conditions between 24 and over 200 hours without using external energy sources. Within its rental services business, the company has built a global partner network to provide for an extensive fleet of containers and boxes fulfilling highly demanding thermal protection standards in temperature sensitive supply chains. Besides Healthcare & Logistics as main market, va-Q-tec addresses additional markets such as Appliances & Food, Technics & Industry, Building and Mobility. The strongly growing Company was founded in 2001, and has its headquarters in Würzburg. More information on va-Q-tec under www.va-q-tec.com.