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Connect Group reports 2nd half and annual results 2018

2ND HALF RESULTS:
Sales in the 2nd half of 2018 up to EUR 74.2 million, against EUR 65.5 million in the 2nd half of 2017.
2nd half operating profit of EUR 2,459 K, against a profit of EUR 2,073 K in the 2nd half of 2017.
Net profit of EUR 2,004 K in the 2nd half compared to a net profit of EUR 1,778 K in the 2nd half of 2017.

ANNUAL RESULTS:
Sales of EUR 150.0 million compared with EUR 125.0 million in 2017.
Improvement of operating result, up from a profit of EUR 2,598 K in 2017 to EUR 5,466 K in 2018.
Net profit of EUR 4,414 K in 2018 compared with a profit of EUR 2,025 K in 2017.

Impact valuation and application IFRS 15 - revenue from contracts with customers
The application of the new IFRS 15 standard shows a positive impact on the annual turnover of EUR 1,950 K and an impact on the net profit of EUR 95 K. This new standard entails causing certain finished products that have not yet been delivered at year end, but for which there is no alternative use and Connect Group has an enforceable right to payment for the performances already performed, to be recognized as turnover.
Without this new standard, the annual turnover would amount to EUR 148.0 million and the net result EUR 4,319 K.

Orders at the end of financial year 2018 amounted to EUR 123.7 million (EUR 116.5 million at the end of 2017).

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