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The annual surplus more than doubled to 13.8 million euros, the company announced on Monday in Berlin. According to the information, private income amounted to 6.8 million euros. Eckert & Ziegler outsourced radiation oncology equipment and in a first step at the end of March sold 51% to Chinese company TCL Healthcare Equipment. Eckert & Ziegler has achieved a very positive balance so far: the stake has already exceeded 70 percent this year in terms of value, in the long term the development is stronger
Sales in the quarter remained roughly at the level of the previous year at 44 million euros. While dealing with pharmaceutical radioisotopes increased, in building factories or with laboratory equipment, the project’s business, which includes services for companies, has reportedly suffered from a poor start to this year. Additionally, revenue decreased in the analog products division due to the weak US dollar. The division publishes a large portion of its sales in US currency.
The group confirmed expectations for the year. Although Eckert & Ziegler achieved nearly half of its target annual profit of € 29 million in the first quarter, management is sticking to its forecast for now, it said. The company has justified its warning about the ongoing pandemic, travel restrictions that continue to hamper business and extended delivery times for primary products, for example in plant engineering. Sales should remain at the previous year’s level of around 176 million euros in 2021.
At the start of trading, the stock initially gained around 4 percent, but then gave back some gains and is currently still up 1.59 percent at € 76.70.
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Image sources: Eckert & Ziegler