DGAP-News: CHG-MERIDIAN AG: Third quarter of 2012 /CHG-MERIDIAN dampens expectations of another record year
(firmenpresse) - DGAP-News: CHG-MERIDIAN AG / Key word(s): Quarter Results/Forecast
CHG-MERIDIAN AG: Third quarter of 2012 /CHG-MERIDIAN dampens
expectations of another record year
07.11.2012 / 12:30
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- Slowdown in capital expenditure in Germany tempered by further growth
in southern and eastern Europe
- New client business has a positive impact on the quarterly results
- Modest rise expected in the company's gross profit for 2012
Weingarten, November 7th, 2012
Despite the record results achieved in 2011 and despite the generally
restrained spending on capital equipment in the technology sector,
CHG-MERIDIAN AG, one of Europe's leading non-captive equipment leasing
companies, is predicting modest growth for 2012. It remains cautious,
however, as to whether its targets for the year will be reached.
CHG-MERIDIAN - headquartered in Weingarten, south-west Germany, and
represented in 19 countries worldwide - is still falling slightly short of
its own projections.
As the company's latest quarterly figures show, positive growth in southern
and eastern Europe as well as new client business are balancing out the
current downturn in lease originations in Germany. The volume of new lease
originations in Germany fell by 9.5 percent to EUR298 million
(2011: EUR330 million) between January and September 2012.
This downward trend is also making its presence felt in the company's
leasing of high-value capital assets such as production equipment. To
counter this, CHG-MERIDIAN founded a subsidiary at the beginning of the
year to open up new market segments. In light of the modest fall in
spending on capital equipment in Germany, however, the company is cautious
as to whether its ambitious targets for 2012 in this business area will be
reached by the end of the year. 'The new approaches which we are presenting
to our customers require explanation and more time to implement. The
feedback that we have received, however, has been consistently positive,
giving us cause for optimism,' says Jürgen Mossakowski, Chief Executive
Officer (CEO) of CHG-MERIDIAN.
Further growth in southern and eastern Europe
Overall, with lease originations amounting to EUR581 million in nine
months, the Group has almost reached the level of the previous year
(2011: EUR600 million), in which it achieved record results. The success in
southern and eastern Europe in particular, with growth of 38.0 percent and
26.6 percent respectively, validates CHG-MERIDIAN's strategy of increasing
its focus on customized business concepts in the technology and financing
sector and thereby broadening its position on the market. Overall,
international business now accounts for almost half the Group's volume of
lease originations.
New client business having a positive impact
The appeal of CHG-MERIDIAN for new clients is having a positive impact on
the company's lease originations, which increased in volume by
18.2 percent to EUR160 million (2011: EUR136 million) in the third quarter
of 2012. 'We see this as a clear indicator that our innovative ideas and
expertise in technology management are proving highly persuasive and
enabling us to open up new customer segments,' says Mossakowski. 'Going
against the prevailing trend, we have been able to expand our volume in
this area and increase ourmarket share, giving us cause for optimism.'
In spite of the dampened expectations in the third quarter of 2012, a
positive picture for 2012 is emerging from the latest earnings figures. In
terms of gross profit - i.e. the present value of all leases originated and
assets remarketed minus direct acquisition and funding costs -
CHG-MERIDIAN anticipates a moderate increase on 2011 for the year as a
whole. This will also apply should there be no significant increase in
lease originations on the previous year. The gross margin within the Group
also climbed in the third quarter, up by 5.7 percent from EUR83.7 million
to EUR88.5 million.
About CHG-MERIDIAN
Large and medium-sized companies and public-sector entities in 19 countries
worldwide have entrusted CHG-MERIDIAN with their advisory, financing, and
other service needs in the field of technology portfolio management. With a
total workforce of more than 700 people - most of them employed at six
locations in Germany - the company, which is headquartered in Weingarten in
south-west Germany, has leased assets worth approximately EUR2.5 billion
under management. What distinguishes CHG-MERIDIAN is its non-captive status
with respect to banks and manufacturers, enabling it to provide expert
independent advice and financing solutions for technology portfolio
management throughout the entire lifecycle.
More information and press pictures can be found at
www.chg-meridian.com
Contact:
Matthias Steybe
Head of Communications und Marketing
CHG-MERIDIAN AG
Franz-Beer-Straße 111
D-88250 Weingarten
Tel. +49 751 503-248
Fax. +49 751 503-7248
Email. matthias.steybe(at)chg-meridian.de
End of financial news
The picture belonging to this press release can be found here:
http://newsfeed2.equitystory.com/meridian/191787.html
Caption: Jürgen Mossakowski, CEO CHG-MERIDIAN AG
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191787 07.11.2012
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Datum: 07.11.2012 - 12:30 Uhr
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News-ID 200377
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