SHW AG announced consolidated earnings results for the first half of 2018. Group sales amounted to EUR 220.3 million in the first half of 2018, 8.7% above the previous year's figure of EUR 202.7 million in line with expectations. Consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 12.5 million (previous year EUR 19.8 million) in the first six months of the fiscal year 2018. Earnings after tax decreased by EUR 6.0 million to negative EUR 0.7 million in the first six months of the fiscal year 2018, due to these non-recurring effects. Earnings per share reached a level of negative EUR 0.10 in this period (previous year EUR 0.84). Operating cash flow significantly affected by working capital. The cash flow used in operating activities in the first six months came to EUR 7.9 million compared to cash flow from operating activities of EUR 18.5 million a year ago. In addition to the decrease in the net profit for the period and provisions, this significant decrease is largely due to the significant increase in working capital in comparison to the same period of the previous year. Total free cash outflow was EUR 8,639,000 compared to EUR 2,871,000 a year ago.

The Management Board of the company expects group sales for the full year 2018 to now range between EUR 420 million and EUR 440 million (previous forecast EUR 450 million to EUR 470 million; previous year EUR 400.6 million). The company expects an EBITDA margin of 9% to 10% (previous year 10.3%) for the fiscal year 2018. This corresponds to an EBITDA prior to the non-recurring expenses mentioned in a range between EUR 37.8 million and EUR 44.0 million (previous: EUR 49.5 million to EUR 56.4 million - no non-recurring expenses; previous year: EUR 41.3 million).