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Berlin, November 9 - Francotyp-Postalia Holding AG (FP), an expert for secure mail business and secure digital communication processes, is publishing preliminary figures for the first nine months of 2020 before tomorrow's Annual General Meeting. According to preliminary calculations, revenues and earnings before interest, taxes, depreciation and amortization (EBITDA) declined slightly under the influence of the corona pandemic. Like almost all companies, FP continues to feel the effects of the pandemic, but the current figures show how robust its business model and liquidity are.
According to preliminary calculations, revenues for the first nine months of 2020 amounted to € 147.6 million (9M 2019: € 152.4 million). In the previous year, sales included high service revenues due to the postage increase in Germany. EBITDA reached € 19.5 million after € 21.0 million in the same period of the previous year. In the first nine months of 2020, FP generated free cash flow of € 7.1 million (9M 2019: € 0.6 million). Adjusted for investments in finance lease assets, M&A and payments for the ACT project JUMP, free cash flow reached € 11.7 million compared to € 7.0 million in the prior-year period.
Rüdiger Andreas Günther, CEO of the FP Group, says: "Our company is showing a very robust development in the Corona year 2020. We have a solid business model and a good liquidity position. In recent months, the entire FP team has done an excellent job despite the difficult situation".
FP confirms forecast for 2020, adjusted free cash flow now expected to be at previous year's level.
The stable development supports the view of the management that it has set the right strategic course for the FP Group in the long term. The company is well positioned in its core business, and its digital products hold considerable potential for the future.
The FP Group confirms the forecast for revenue and EBITDA, which was specified when the half-year figures were published, and is increasing its free cash flow forecast (assuming exchange rates remain constant). FP continues to expect a decline in revenue to between € 195 million and € 203 million and EBITDA in a range of € 24 million and € 28 million for the full year 2020. For the adjusted free cash flow, FP now expects a level roughly on a par with the previous year. Due to the recent resurgence of the corona pandemic and the global countermeasures taken, uncertainty about the further course of business has increased once again.
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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.
Further information can be found under www.fp-francotyp.com