Schaltbau Holding AG
Schaltbau Group confirms forecast raised in April
Schaltbau Holding AG / Key word(s): Half Year Results Schaltbau Group confirms forecast raised in April Munich, 26 July 2011 – The Schaltbau Group can look back on a highly positive business performance for the first half of 2011. Against this backdrop and in view of the good order situation as well as the accompanying favourable prospects for business performance in the remaining part of the year, the upwardly adjusted forecast from April 2011 was now reaffirmed. Order intake of the Schaltbau Group for the six months under report improved by around 26% to EUR 192.4 million (2010: EUR 153.3 million). Growth continued its dynamic trend throughout the second quarter. The order volume of EUR 91.3 million was again a strong improvement on the EUR 75.1 million recorded during the second quarter the previous year. The figure also significantly surpassed the own expectations. Order intake in the Mobile Transportation Technology segment rose remarkably during the six-month period under report and particularly the Door Systems for Railway Vehicles product group even improved again on its already high level. The order situation in both product groups Door Systems for Buses and Fittings for Sliding Vehicle Doors has recovered noticeably on a broad front. In the Stationary Transportation Technology segment the Rail Infrastructure business field displayed positive growth in demand, particularly for rolling stock projects and point heating systems. Business performance for level crossing systems remained stable at last year's level. The backlog of orders due in the Brake Systems business field in the container terminals sector during the first six months of 2011 dissipated in the face of the good economic situation, causing a sharp rise in the volume of incoming orders compared to the weak previous year. Wind power brake systems were also in strong demand. The order situation in the Components segment also improved greatly in comparison to the previous year. All of the segment's product groups contributed to this good performance. The main regional driving force in this respect was Asia, particularly China. Due to the increased demand for products and solutions made by the Schaltbau Group, sales revenue grew by 16% to EUR 155.8 million (2010: EUR 133.9 million) in the first half of 2011. Increased personnel capacity also made it possible to complete more orders during the second quarter, leading to a rise in sales revenue compared with the first three months of the current year. At EUR 81.7 million, business volume in the months from April to June 2011 was not only significantly up on the previous year's level of EUR 71.8 million, it was also well above budget. Total output rose to EUR 160.0 million during the six-month period under report (2010: EUR 137.8 million). On this basis, earnings from operating activities (EBIT) of EUR 15.9 million were achieved. The figure is 54% above that of the previous year. The EBIT margin stood at 10.2%, despite having already reached a good level at 7.7% one year earlier. Group net profit jumped to EUR 12.7 million for the six months under report after reaching EUR 6.5 million in the first half of 2010. Earnings per share rose sharply to EUR 5.52 (2010: EUR 2.87). Above all, due to the strong growth in sales over the last few months and the expected high level of sales in the further course of the year, working capital at 30 June 2011 had risen by EUR 18.2 million due to somewhat lower advance payments and liabilities from deliveries and services compared with the balance sheet date at 31 December 2010. As a result of the net profit achieved and the convertible bond, 98% of which was converted during the period under report, equity grew from EUR 33.1 million to EUR 50.3 million. With a balance sheet total that increased from EUR189.6 million to EUR 207.8 million, the equity ratio improved to 24.2%. Group Key Financial Figures representing business performance for the first two quarters of the fiscal years 2010 / 2011:
End of Corporate News 26.07.2011 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: | Schaltbau Holding AG | |
Hollerithstraße 5 | ||
81829 München | ||
Germany | ||
Phone: | 089 – 93005 – 209 | |
Fax: | 089 – 93005 – 318 | |
E-mail: | bloch@schaltbau.de | |
Internet: | www.schaltbau.de | |
ISIN: | DE0007170300, DE000A0D66Z2, | |
WKN: | 717030, A0D66Z2, | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Stuttgart | |
End of News | DGAP News-Service |
132796 26.07.2011 |