The existing rating is confirmed at A, the outlook is stable.
In the 2020 financial year, sales revenue amounted to EUR 3.27 billion after EUR 3.12 billion in the previous year. EBIT was EUR 124.6 million (previous year: EUR 133.7 million), slightly below the previous year, but above plan and overall still at a good level despite the general economic turmoil due to the COVID 19 pandemic. Thanks to a good cash flow, also due to efficiency improvements in working capital, a noticeable reduction in debt was achieved. The business development for the first seven months of the current 2021 financial year is also above the corresponding period of the previous year. Nevertheless, risks remain, especially in connection with the ongoing Covid 19 pandemic and the shortage of available raw materials.