Preliminary financial results for the first six month of 2018 for TUEV SUED Battery Testing GmbH
Preliminary financial results for the period Jan. – June 2018 for TUEV SUED Battery Testing GmbH:
The TUEV SUED Battery Testing GmbH joint venture further increased its turnover in the first half of 2018: Compared to the previous year, sales increased by 16.8 % to 3,434 TEUR (previous year: 2,939 TEUR).
Total assets increased by 1.5% to 13,605 TEUR, mainly due to an unchanged high investment ratio in property, plant and equipment. The capital structure is characterized by a high equity ratio of 71.4 %, which is able to finance the long-term growth of the company with high investments.
In the first six month of 2018, revenues increased by 495 TEUR compared to the previous year particularly due to additional projects and order intake. Higher personnel expenses of +350 TEUR due to additional recruitments, higher depreciation +47 TEUR and higher overheads +243 TEUR resulted in a slightly lower net income of 320 TEUR (-21 TEUR) in the first half of the year. Despite cost increases, the operating result (EBITDA) increased slightly to 915 TEUR (+1 TEUR).
Sales current year / previous year: + 16.8%
Six-month net profit for the year / previous year: – 6.2%
Balance sheet profit year / previous year: + 176.7%