HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH) today published its 2020 annual financial statements. While the Group’s start to the year went according to plan, its business activities were materially affected from mid-March onwards, particularly in the Automotive and Services divisions, by the spread of the novel SARS-CoV-2 virus, the associated restrictions on public life and the large-scale shutdown of production capacities in the automotive industry. The HÖRMANN Group’s sales in the 2020 financial year amounted to EUR 521.5 million (previous year: EUR 622.2 million). This decline in sales is attributable to the Automotive and Services divisions, whereas the Engineering division was able to keep sales at the prior year level and the Communication division increased its sales compared to the previous year in the crisis year 2020. Earnings before interest, taxes, depreciation and amortisation (EBITDA) came to EUR 25.5 million (previous year: EUR 35.6 million), while earnings before interest and taxes (EBIT) amounted to EUR 12.6 million (previous year: EUR 23.7 million). At EUR 18.9 million, adjusted EBIT including non-recurring effects of EUR 5.8 million resulting from the relocation of the automotive plant in Penzberg and extraordinary goodwill amortisation in the Services division in the amount of EUR 0.5 million was only slightly below plan.