Stern Groep N.V. announced unaudited consolidated earnings results for the first half ended June 30, 2018. For the period, the company reported net revenue of EUR 587,241,000 compared to EUR 593,876,000 a year ago. Operating profit (EBIT) was EUR 7,805,000 compared to EUR 8,174,000 a year ago. Profit before tax was EUR 5,830,000 compared to EUR 6,588,000 a year ago. Profit after tax attributable to the shareholders of the company was EUR 4,672,000 or EUR 0.82 per diluted share compared to EUR 5,417,000 or EUR 0.95 per diluted share a year ago. Cash flow from operating activities was EUR 15,527,000 compared to EUR 28,009,000 a year ago. Net investment in property, plant and equipment and financial non-current assets was EUR 46,672,000 compared to EUR 47,376,000 a year ago.

As a result of the gradual improvement in margins at Dealergroup Stern, the continuing growth at Stern Mobility Solutions, the improvements at Stern Car Services and the implemented cost savings, the profit before tax in 2018 will be higher than the profit realized in 2017. The improvement in the financial performance of Stern Group will accelerate in 2019 and 2020.