115th general meeting of Schulte-Schlagbaum AG: considerable improvement in turnover and results
Against the background of the positive development of the German construction industry, which has recorded a considerable rise in new building permits for flats and residencies in apartment buildings, CEO Peter Pongratz reported on the development of the SAG business divisions during the past financial year at the annual general meeting of Schulte-Schlagbaum AG, held on 29 June in Wuppertal. The corporation has been able to increase its sales revenue by 3% to approximately EUR 42 million. Its end-of-year result was similarly positive with TEUR +740 compared to the previous year.
Having produced more than 8 million mortise locks and striking plates, Schulte-Schlagbaum AG (SAG) has consolidated its position as a market leader in the German interior-door segment. Despite a considerable increase in turnover of approximately 8% in the segment of lock and striking plates, the sales revenue of Schulte-Schlagbaum AG remained at the level of the preceding year. This is due to the division for locking systems for doors and furniture, which had been struggling during the second half of the year. Losses were recorded in the mechanical product segment, while the electronic systems have achieved double-digit growth. The profit margin (not considering extraordinary effects) increased to 3.7%.
115th general meeting of SAG at the historic town hall of Wuppertal
With its pre-launch of the newly developed cabinet locking system SAFE-O-TRONIC® access LSW (featuring an innovative wireless networking system) at a customer event in October 2015, the Velbert-based company has established a foundation for sustainable positive developments in the segment of locking systems for doors and furniture, based on a considerably intensified sales strategy.
CEO Peter Pongratz further topicalised innovations such as a newly developed cabinet locking system with a wireless networking system in the company status report.
Exporting concluded with a slight drop of 1.7%. Within the scope of the reorientation of its export strategy over the coming years, SAG intends to focus on selected European core markets and the United States, employing its own staff in each location.
The Swiss subsidiary STS Systemtechnik Schänis GmbH has experienced a particularly difficult year following the announcement by the Swiss National Bank about the discontinuation of the minimum Euro exchange rate in January 2015. Peter Pongratz thanks the careful management and flexible, motivated employees in Switzerland for ensuring that the Schulte-Schlagbaum Group has been able to end 2015 with a slightly negative operating margin only.
A combination of the dissolution of accruals for inventory valuations, cost discipline and revenue with a high service share, caused by the modification of the VAT rate for sauna use and the introduction of cash register requirements in Austria, led to an overall positive operating margin in the segment of guest management systems in 2015.
CEO Peter Pongratz presents the business development of Schulte-Schlagbaum AG
The considerably improved sales revenue in all SAG divisions vis-à-vis the previous year, which CEO Peter Pongratz presented in his outlook, promise a positive future, and he is optimistic that the ambitious goals of the corporate group can be achieved.
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