FP confirms figures for first half of 2020

• Revenue reaches € 99.7 million

• Impact of coronavirus particularly significant in Q2

• EBITDA rises to € 13.1 million

• Adjusted free cash flow at € 9.9 million
  

Berlin, 10 September 2020 – Francotyp-Postalia (FP), the expert in secure mail business and secure digital communication processes (ISIN DE000FPH9000), today published its report on the first half of 2020. In it, the company confirms the provisional figures it published on 27 August, 2020. In the first half of 2020, FP generated revenues of € 99.7 million compared with € 99.0 million in the same period of the previous year, with the coronavirus pandemic having a particularly significant impact in the second quarter. The Mail Services business made a positive contribution, with an 11.8 % rise in revenues year on year to € 29.3 million. In the core Franking and Inserting business, revenues were down 2.6 % on the previous year at € 62.3 million. Revenues in the Software/Digital business posted an 8.5 % decrease to € 8.1 million in the first half of 2020. In addition to a reduction in business with hybrid mail services due to the coronavirus pandemic, the anticipated revenue contributions from FP Sign and from the Internet of Things (IoT) business were still lacking.

In the first half of 2020, the FP Group generated earnings before interest, taxes, depreciation and amortisation (EBITDA) of € 13.1 million (up 11.7 % year on year). The FP Group’s EBITDA margin increased to 13.1 % after 11.9 % in the previous year. Particularly strong contributions came from the Mail Services business and the ACT project JUMP, which, as expected, is delivering increasingly recurring savings effects.

Free cash flow increased to € 5.9 million in the first six months of 2020. Adjusted for investments in finance lease assets, M&A expenditure and payments for the ACT project JUMP, the FP Group generated adjusted free cash flow of € 9.9 million compared with € 4.0 million in the same period of the previous year.

FP specifies forecast 2020

Based on the half-year figures and its assessments regarding the further development of the coronavirus pandemic, the Management Board had further detailed its forecast. For 2020 as a whole, FP anticipates a decline in revenue to between € 195 million and € 203 million and EBITDA in a range of € 24 million to € 28 million. With regard to adjusted free cash flow, FP still expects a significant year-on-year decline.

Key figures at a glance:

For press enquiries please contact:

Maik Laske
Head of Treasury / M&A / Investor Relations
Tel.: +49 (0) 30 220 660 296
E-mail: m.laske@francotyp.com 

Karl R. Thiel, VP Corporate Communication
Tel.: +49 (0)30 220 660 123
E-Mail: kr.thiel@francotyp.com

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About Francotyp-Postalia (FP)
The international, listed FP Group with headquarters in Berlin, Germany, is an expert in secure mailing business and secure digital communication processes (FP = “secure digital communication”). As market leader in Germany and Austria, the FP Group offers digital solutions for companies and authorities as well as products and services for efficient mail processing and the consolidation of business mail in the “Software/Digital”, “Franking and Inserting” and “Mail Services” segments. The Group generated revenue of around €210 million in 2019. FP has subsidiaries based in ten different countries and is represented by its own trading network in an additional 40 countries. With a company history spanning 97 years, FP possesses a unique DNA in the areas of actuating elements, sensor systems, cryptography and connectivity. FP’s global market share for franking systems stands at twelve percent, while the company boasts unique high-security solutions for the Internet of Things (IoT/IIoT) and digital document signatures in the digital segment.

You can find out more at www.fp-francotyp.com.