DGAP-News: Einhell Germany AG: Einhell Group holds revenues at previous year level
(firmenpresse) - DGAP-News: Einhell Germany AG / Key word(s): Final Results/Final
Results
Einhell Germany AG: Einhell Group holds revenues at previous year
level
18.04.2012 / 14:42
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Information for the Business Press
released by
Einhell Germany AG, Landau/Isar
- Einhell Group holds revenues at previous year level
- Profit-oriented dividend policy
- International expansion - Focus on South America
- Forecast for the business year 2012
Landau/Isar, 18 April 2012
Einhell Group holds revenues at previous year level
Influenced by the Euro crisis, the global economic risks have increased in
2011 and the recovery of the global economic situation has further
weakened. Despite the declined economic environment, Einhell was able to
finish the business year 2011 very positive.
Einhell generated in 2011 revenues of EUR 365.3 million (previous year EUR
365.4 million). Thereby the domestic market in Germany was able to generate
revenues of EUR 131.7 million (previous year EUR 145.3 million).
Revenues in the European Union increased in comparison to the previous
year. There was a total revenue increase of 5.7% of EUR 145 million to EUR
153.3 million. The most important sales markets in the financial year 2011
were still Austria, Poland and Italy.
Also other countries generated significant increases in revenues. As
against the previous year, revenues increased by EUR 14.4 million to EUR
65.9 million (previous year EUR 51.5 million). One of the strongest
countries for sales is still Turkey. But also the new South American
subsidiaries and the Australian subsidiary were also able to generate a
revenue contribution of around EUR 19.5 million.
The share of Group revenues generated in foreign countries amounted to 64%
in the financial year 2011.
The Einhell Group generated earnings before tax of EUR 19.1 million
(previous year EUR 20.2 million). The pre-tax yield amounts to 5.2%
(previous year 5.5%).
It was very pleasant, that the gross profit has increased in spite of the
difficult economic conditions. The personnel costs have increased in the
business year 2011 by EUR 4.5 million to EUR 43.1 million. Einhell has
invested heavily in high qualified personal to assure important future
expertise.
At the end of the year, inventories have increased to EUR 110.4 million
(previous year
EUR 95.6 million) to ensure a solid ability to deliver. Amongst other
things, also the stockpiling of the new Group companies has influenced that
figure.
An EBIT-Yield of 6.2% (previous year 5.9%) in relation to the turnover has
been obtained in the business year 2011. The EBIT has increased in
comparison with the previous year and amounts to EUR 22.7 million (previous
year EUR 21.5 million).
The financial result was strongly affected by global currency fluctuation.
The net income after minority's interest has decreased in the business year
2011 from EUR 16.2 million to
EUR 14.5 million. The profit per share according DVFA is calculated to EUR
3.9 (previous year
EUR 4.3).
The Einhell Group continues to show up a very solid balance sheet structure
with an equity ratio of around 67%. Einhell will use this financial base
for further investments in its product range and to enhance the recognition
value of the Einhell products.
Profit-oriented dividend policy
Einhell follows its profit-oriented dividend politic. The board of
directors and the supervisory board will propose at the general meeting on
14 June 2012, a dividend for the listed preferred shares of EUR 0.80 per
share and for common shares EUR 0.74 per share.
International expansion - Focus on South America
To enable a long term success and to boost the competitive position,
Einhell will follow its expansion strategy also in the future.
The entry into the South American market has already taken place. This
strategically important region, a growth driver for the future, will also
be expanded in coming years. Whilst sales companies have already been
established in Chile and Brazil, Einhell has in 2011 also realised the
market entry in Argentina. After very positive revenues in 2011, Einhell
expects for 2012 a share of sales of around EUR 20 million. Till 2015,
Einhell plans to generate revenues of around EUR 80 million in the whole
region of South America.
Forecast for the business year 2012
The expected development for the business year 2012 remains swathed in
considerable uncertainty due to the escalating sovereign debt crisis and
turbulences in global markets.
For the business year 2012, Einhell plans constant or slightly increasing
revenues but the different Group countries show varying prospects. Einhell
assumes being able to realise a similar profitability before taxes like in
the financial year 2011. In addition, improved market conditions may have a
positive effect on the development of the turnover and results.
Landau/Isar, 18 April 2012
The Board of Directors
Contact:
Helmut Angermeier
Authorised Representative
Postfach 1 50
94402 Landau/Isar
Phone: +49 (0) 9951/942-166
Fax: +49 (0) 9951/942-293
E-Mail: Helmut.Angermeier(at)einhell.com
End of Corporate News
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18.04.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
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Language: English
Company: Einhell Germany AG
Wiesenweg 22
94405 Landau/Isar
Germany
Phone: +49 (0)9951-942-166
Fax: +49 (0)9951-942-293
E-mail: helmut.angermeier(at)einhell.com
Internet: www.einhell.com
ISIN: DE0005654933, DE0005654909
WKN: 565493, 565490
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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165473 18.04.2012
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Datum: 18.04.2012 - 14:42 Uhr
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News-ID 136504
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