120th General Shareholders’ Meeting of Schulte-Schlagbaum AG: Satisfactory results in 2020 despite the COVID-19 pandemic

On Wednesday, 23 June 2021, Schulte-Schlagbaum AG held its 120th annual general meeting at the Historische Stadthalle in Wuppertal in the form of a virtual meeting, without any of the shareholders or their representatives physically present. As the situation surrounding the COVID-19 pandemic was still unpredictable, the decision was made to hold the event online for the second time in a row in accordance with COVID-19 legislation. Shareholders were able to participate in the general shareholders’ meeting via an invitation and custom access codes.

The global COVID-19 pandemic was the determining factor of the 2020 financial year throughout the entire Schulte-Schlagbaum Group. As opposed to last year, it was not possible to achieve any improvements in the group’s full-year results. In 2020, the Schulte-Schlagbaum Group recorded sales revenues of €50,779k, down approximately 5.7% compared with the previous year (previous year: €53,824k). Adjusted for EDV-Service Schaupp GmbH, which was divested in 2020, the reduction in revenue was approximately 3.4%.


From left to right: CEO Peter Pongratz, Chairman of the Board Felix Maier and Notary Dr Thomas Schwerin from the Mendelssohn Hall in the Historische Stadthalle Wuppertal discussing the results of the financial year under review (2020) as shareholders participate online.

Nonetheless, EBIT increased slightly to €2,187k (previous year: €2,150k) thanks to improved operational performance. This included significant one-off effects in both 2019 and 2020. Taking these one-off effects and the COVID-19 crisis into account, the operating result is considered satisfactory overall.

The integration of Sächsische Schlossfabrik GmbH into Schulte-Schlagbaum AG, which was largely completed at the product technology level last year, led to a positive impact on results for the first time, particularly in the last quarter of 2020. One major challenge was the largely COVID-19-related absence of staff and sick-leave both at the factories and on-site. Thanks to a great deal of dedication and technical expertise, the company was able to find alternative suppliers in short order, helping to maintain the supply lines to the two locations, both at the parent company in Velbert and at the subsidiary in Groitzsch. With a slight increase in sales of around 1% in 2020 compared with 2019, the group managed to achieve its desired turnaround. In summary, the 2020 financial results confirm the rationale underlying the strategic decision to purchase Sächsische Schlossfabrik in 2018.


Held as an online event for the second time:  at the 120th General Shareholders’ Meeting of Schulte-Schlagbaum AG, CEO Peter Pongratz reporting on the 2020 financial year via live streaming.

Held as an online event for the second time:  at the 120th General Shareholders’ Meeting of Schulte-Schlagbaum AG, CEO Peter Pongratz reporting on the 2020 financial year via live streaming.

The national and international effects of COVID-19 had a particularly negative and far-reaching impact on the division Locking Systems for Doors and Furniture at Schulte-Schlagbaum AG. Targeted market segments within the group’s core markets, such as universities, clinics, hotels and recreational facilities, showed a positive trend for the coming years, even though these areas were hit particularly hard by the pandemic. Development of the new brand SAG Smart Access and its related product portfolio remained the focus of preparations for the post-pandemic environment.

The two systems houses of the Schulte-Schlagbaum Group, eccos pro and novacom, which operate in the leisure and gastronomy markets, were also faced with much more difficult market conditions due to comprehensive closings and restrictions.

Despite the extremely difficult circumstances resulting from the closure of swimming facilities for months on end as well as the ensuing reluctance of our bathing facility customers to invest, the team, reinforced by additional executive management talent joining mid-year, managed to achieve one of the best annual results in the history of eccos pro. Similarly unscathed, our Austrian subsidiary novacom once again improved its operational result in 2020 compared with the previous year based on both a very strong first quarter in 2020 and its forward-looking management team.

Swiss industrial company and SAG subsidiary STS Schänis, with its local production site in Switzerland, generated a turnover decline of just 1.7% in 2020 after adjusting for currency effects. The reduction in turnover can once again primarily be traced back to the COVID-19 pandemic, which resulted in a decrease in orders in the first half of the year. While the stamping and locking technology business segments experienced a revenue decline of around 6% each, the fastening technology business segment grew around 1%.

Considering the current circumstances and assumptions, the company expects 2021 to remain at the level of the operational group result in 2020, adjusted for (i.e. excluding) the one-off effects in 2020. At the same time, measures have been introduced to further optimise operational performance.

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