DGAP-News: Schaltbau Group reports half-year figures
(firmenpresse) - DGAP-News: Schaltbau Holding AG / Key word(s): Half Year Results
Schaltbau Group reports half-year figures
26.07.2012 / 09:01
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Schaltbau Group reports half-year figures
Munich, 26 July 2012 - The Schaltbau Group surpassed its own expectations
in the second quarter 2012, despite the generally difficult economic
environment. At the halfway stage, the Group is firmly on course to achieve
its targets for the full year 2012. We confirm the earnings per share
forecast to date. Due to the change in the way the company's shares are
quoted (still pending), resulting from the share split resolved at the
Annual General Meeting on 6 June, the forecast for earnings per share will
be adjusted from EUR 8.83 to EUR 2.94.
At EUR 96.3 million, the Schaltbau Group recorded 5.5% growth in order
intake for the second quarter (Q2 2011: EUR 91.3 million). In the six-month
period ended June 2012, order volume rose by 4.9% to total EUR 201.8
million (2011: EUR 192.4 million). EUR 14.8 million of this amount related
to the Pintsch Tiefenbach Group, which has been consolidated since 1
January 2012.
In the Mobile Transportation Technology segment, order intake fell by 9% in
the first half of 2012. Although the order situation in the Door Systems
for Railway Vehicles product group continued to be good, negative market
factors put pressure on performance for the Door Systems for Buses and
Fittings for Sliding Vehicle Doors product groups. The first major order
was acquired via the newly formed South Korean subsidiary. Including
Pintsch Tiefenbach, order-intake figures in the Stationary Transportation
Technology segment rose by 37%. The growth was evident across all fields of
business, quite apart from the effect of the new consolidation. In the
second quarter, Pintsch Tiefenbach was awarded a major project in the field
of shunting equipment. The order situation in the Components segment
improved significantly during the second quarter 2012 and, after the first
six months, the 20% drop in order intake seen during the first quarter was
meanwhile only 8% down on last year's figures. The business situation in
China demonstrated increasing stability towards the halfway point in the
year. Driven by brisk demand in the photovoltaic and railway sectors,
business performance in the USA remained highly positive throughout the
entire six-month period. Moreover, business figures reported for the
Russian market were again outstanding.
Powered by the continued good level of incoming orders, the Schaltbau Group
achieved sales growth of 12% to report EUR 91.4 million for the three-month
period ended June 2012 (Q2 2011: EUR 81.7 million), thus largely
maintaining the growth rate seen in the first quarter. Sales rose by 13% to
total EUR 176.1 million during the six months under report after recording
EUR 155.8 million at the end of June 2011. Group sales figures were
therefore well up on 2011, even after adjustment for the EUR 8.2 million
attributable to the Pintsch Tiefenbach Group.
Total output for the six-month period under report grew to EUR 178.3
million (2011: EUR 160.0 million). Operating profit (EBIT) amounted to EUR
13.9 million (2011: EUR 15.9 million), exceeding the Group's own
expectations. The differences compared with the previous year relate to
upfront expenditure for personnel and product development and sales mix
factors as well as the negative earnings reported by the Pintsch Tiefenbach
Group in the first quarter. However, Pintsch Tiefenbach reached the
break-even mark during the second quarter. The EBIT margin stood at 7.9%
after recording 10.2% during the same period one year earlier.
Group net profit for the six-month period under report totalled EUR 9.8
million, as compared with EUR 12.7 million last year, which had been
positively impacted by exceptional effects of approximately EUR 2.1 million
recorded within the result from investments. Earnings per share stood at
EUR 3.88 compared with EUR 5.52 one year earlier.
Due to the good business performance over the first six months of 2012 and
the scheduled order book figures for the months to come, working capital
went up to EUR 108.1 million at 30 June 2012 compared with EUR 71.8 million
at 31 December 2011. Group equity rose from EUR 59.5 million to EUR 65.0
million. Primarily due to consolidation factors, the balance sheet total
increased from EUR 213.6 million at 31 December 2011 to EUR 251.4 million.
The equity ratio therefore fell from 27.9% at 31 December 2011 to a current
level of 25.9%.
Group Key Financial Figures representing business performance for the first
two quarters of the fiscal years 2011 / 2012:
Q1/ Q2/ Half- Q1/ Q2/ Half-End of Corporate News
11 11 year 11 12 12 year 12
Order intake EUR 101 91.3 192.4 105 96.3 201.8
m. .1 .5
Order book EUR 200 210 210.0 239 244 244.3
m. .7 .0 .6 .3
Sales EUR 74.1 81.7 155.8 84.7 91.4 176.1
m.
EBIT EUR 7.2 8.7 15.9 6.5 7.4 13.9
m.
Group net profit for the EUR 7.1 5.6 12.7 4.5 5.3 9.8
period m.
Profit attributable to EUR 6.0 4.7 10.7 3.7 4.2 7.9
shareholders of the AG m.
Earnings per share EUR 3.21 2.31 5.52 1.80 2.08 3.88
(undiluted)
Group equity EUR 41.2 50.3 50.3 62.5 65.0 65.0
m.
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26.07.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Schaltbau Holding AG
Hollerithstraße 5
81829 München
Germany
Phone: 089 - 93005 - 209
Fax: 089 - 93005 - 318
E-mail: bloch(at)schaltbau.de
Internet: www.schaltbau.de
ISIN: DE0007170300, DE000A0D66Z2,
WKN: 717030, A0D66Z2,
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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178875 26.07.2012
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Datum: 26.07.2012 - 09:01 Uhr
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