SHW AG announced earnings results for the first quarter of 2017. In the first quarter of 2017, at EUR 104.3 million Group sales were 2% lower than the previous year's figure of EUR 106.6 million, in line with expectations. This was attributable to the Pumps and Engine Components business segment, while sales in the Brake Discs business segment rose by 15% following a significant increase in volumes. Consolidated earnings before interest, tax and depreciation and amortisation (EBITDA) decreased by 6%, from EUR 10.8 million to EUR 10.1 million. Due to lower depreciation, the quarterly profit declined by just EUR 0.3 million to EUR 3.0 million (previous year EUR 3.3 million). Earnings per share came to EUR 0.46 (previous year EUR 0.51). EBIT was EUR 4.472 million compared with EUR 4.813 million for the same period a year ago. Net profit for the period was EUR 2.973 million compared with EUR 3.308 million for the same period a year ago. At EUR 9.0 million, investments in property, plant and equipment and intangible assets in the first quarter of 2017 exceeded the prior-year figure by 79.9%.

Based on the economic and industry environment and while considering the potential risks and opportunities for the full year 2017, the Management board continues to expect Group sales in a range of EUR 400 million to EUR 420 million. Based on these assumptions, SHW continues to expect an EBITDA margin in a range of 10.0% to 11.0% (previous year 10.7%) for the fiscal year 2017.