AMG Mining AG
Graphit Kropfmühl AG: Jump in turnover at 30 September 2011 to EUR 91.3 million; EBITDA increase to EUR 13.3 million; Investments of about EUR 4.2 million
Graphit Kropfmühl AG / Key word(s): Quarter Results Kropfmühl, Germany, 9 November 2011 — The Graphit Kropfmühl group (DEUTSCHE BOERSE: 'GKR') again clearly increased its quarterly turnover, even though the growth dynamic is becoming increasingly weaker. For the business year 2011 Graphit Kropfmühl expects a record turnover of clearly more than EUR 110 million. The uncertain development on the global financial markets and the decreasing growth dynamic on the sales markets is reflected in the course of turnover of the Graphit Kropfmühl group, even though the group compared to the macroeconomic growth rates showed a disproportionately high increase. The business development was extremely positive also in the 3rd quarter of 2011. Demand figures still are at a high level, and capacity utilisation remained above-average also during the summer months. In the 3rd quarter the Graphit Kropfmühl group again reached a clear increase of the consolidated turnover of 22.2 % to TEUR 30,639. In the reporting period of January to September 2011 this means a significant 27.3 % jump in turnover. Compared to the previous year the consolidated turnover for the first nine months increased from TEUR 71,709 to TEUR 91,310. A clearly higher price level in both segments in connection with efficiency gains from excellent plant utilisation compensated the burdens resulting from clearly increased raw material prices and higher project costs for the exploration of new raw material sources. Altogether the earnings and profitability ratios have clearly improved in 2011.
1 Adjusted EBITDA before restructuring measures and impairing losses, expenses for recultivation and foreign exchange result
Silicon-metal segment The earnings and profitability ratios in the silicon-metal segment improved disproportionately. The table below shows the segment's essential ratios.
1 Adjusted EBITDA before restructuring measures and impairing losses, expenses for recultivation and foreign exchange result
Graphite segment For more than two years the price development has been influenced by the growing global demand and by more stringent raw material export conditions for example on the Chinese procurement markets. In 2011 we were able to step by step pass these increasing costs from more stringent procurement conditions on to our customers, which resulted in a corresponding increase of the earnings level. The first nine months apart from a volume-related increase of turnover also contain an earnings effect of about 20 %, which altogether resulted in a jump in turnover of 28.4 % to TEUR 32,110. The burden from increased procurement prices also was compensated by efficiency gains resulting from improved plant utilisation and from the operation of state-of-the-art production facilities. Higher project costs for the exploration of deposits in Brazil and Mozambique burden the selling, general and administrative expenses. The good earnings ratios in the third quarter also result in improved margins for the total year.
1 Adjusted EBITDA before restructuring measures and impairing losses, expenses for recultivation and foreign exchange result
Outlook
Financial calendar
Forward-looking statements
Information on the company End of Corporate News 09.11.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Graphit Kropfmühl AG | |
Langheinrichstraße 1 | ||
94051 Hauzenberg | ||
Germany | ||
Phone: | +49 (0)8586/609-197 | |
Fax: | +49 (0)8586/609-111 | |
E-mail: | ir@gk-graphite.com | |
Internet: | www.gk-graphite.com | |
ISIN: | DE0005896005 | |
WKN: | 589600 | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart | |
End of News | DGAP News-Service |
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