DGAP-News: Tognum confirms forecast for 2012 at the end of the first nine months
(firmenpresse) - DGAP-News: Tognum AG / Key word(s): Quarter Results
Tognum confirms forecast for 2012 at the end of the first nine months
08.11.2012 / 07:31
---------------------------------------------------------------------
Tognum confirms forecast for 2012 at the end of the first nine months
- Solid order intake at EUR2,296.3 million in the first nine months
- Revenues increase to EUR2,092.7 million
- Adjusted EBIT margin of 8.8%
- Full year 2012: forecast confirmed
Friedrichshafen, November 8, 2012. The specialist for propulsion and power
solutions Tognum confirms its forecast for the full year 2012 at the end of
the first nine months. The adjusted EBIT margin is expected to be at around
ten per cent by the end of the year, while the company expects to see
revenue growth in the lower single-digit percentage range.
'The global economy cooled down further in the third quarter. As a result
of our good order backlog, however, we are aiming for a fourth quarter
slightly above last year's level and therefore, from today's perspective,
we confirm our revenue and profit targets,' explained Joachim Coers, CEO of
Tognum AG. 'The fourth quarter, however, will be real challenge for the
entire company.'
Order intake and revenues
Order intake at the end of the first nine months of the year was on a solid
level at EUR2,296.3 million (Q1-Q3 2011: EUR2,382.3 million). Revenues were
up 1.7% compared with the same period last year to
EUR2,092.7 million (Q1-Q3 2011: EUR2,057.7 million).
Adjusted EBIT and adjusted EBIT margin
The adjusted EBIT in the reporting period amounted to EUR184.3 million
(Q1-Q3 2011: EUR237.1 million). The adjusted EBIT margin was 8.8%
(Q1-Q3 2011: 11.5%). The decline in the margin resulted primarily from the
reduced capacity utilisation and the scheduled increase in expenditure for
research and development.
Adjusted gross profit margin and adjusted net profit
An adjusted gross profit of EUR602.8 million (Q1-Q3 2011: EUR617.0 million)
resulted in an adjusted gross profit margin in the reporting period of
28.8% (Q1-Q3 2011: 30.0%). The adjusted net profit amounted to EUR120.3
million (Q1-Q3 2011: EUR162.7 million). This resulted in adjusted earnings
per share of EUR0.92 (Q1-Q3 2011: EUR1.24).
Equity ratio, free cash flow and net financial debt
The equity ratio had risen to 31.4% on September 30 (December 31, 2011:
28.1%). Net financial debt increased to
EUR118.1 million (December 31, 2011: EUR5.0 million). This was due
primarily to the dividend payment of EUR98.5 million in the second quarter.
Free cash flow was down in the first nine months to EUR20.0 million
(Q1-Q3 2011: EUR20.6 million).
Segment reporting
Revenues in the Engines segment amounted to EUR1,409.6 million in the
reporting period (Q1-Q3 2011: EUR1,395.5 million). There was a strong
increase in revenues in the Oil&Gas application area, primarily as a
result of the increase in investing activities due to past increases in
prices for raw materials. Increased revenues were also reported in the
Defense application area due to several projects coming to an end. Business
in government vessels in the Marine application has experienced a project
related decline. In the Industrial application area, business in rail
engines, as expected, was weaker, following a boom in 2011 relating to
tougher emission regulations. After Sales business remained stable at a
high level. The adjusted segmentEBIT at the end of the first nine months
of the year amounted to EUR161.9 million
(Q1-Q3 2011: EUR200.1 million).
The Onsite Energy&Components (OE&C) segment reported an increase in
revenues in the reporting period of 3.6% to EUR707.5 million (Q1-Q3 2011:
EUR683.1 million). In the OE Diesel Systems&Engines application area,
there was an increase in revenues generated with diesel systems. The supply
business to OEM customers declined, as the OEMs were able to draw on stock
levels that were still available from the beginning of the year. Revenues
in the OE Gas Power Systems application area were up due to the growing
demand for gas systems. The After Sales/Other application area was stable.
The adjusted segment EBIT amounted to EUR45.3 million (Q1-Q3 2011: EUR63.0
million).
Revenue volume generated in the Distribution segment increased by 5.2% in
the first nine months of the year to EUR376.4 million (Q1-Q3 2011: EUR357.8
million). The adjusted segment EBIT amounted to EUR19.6 million (Q1-Q3
2011: EUR20.5 million).
The interim report valid for the first nine months of 2012 is available for
download at www.tognum.com under 'Investors'.
Key figures for the Tognum Group
In EUR million (except*) Q1-Q3 Q1-Q3 Change Q3 Q3 Change- End -
2011 2012 2011 2012
Order intake 2,382.3 2,296.3 -3.6% 731.3 772.2 5.6%
Revenues 2,057.7 2,092.7 1.7% 718.8 677.3 -5.8%
Gross profit margin* (adj.) 30.0% 28.8% -1.2pp 27.3% 27.7% 0.4pp
EBIT (adj.) 237.1 184.3 -22.3% 78.9 48.9 -38.0%
EBIT margin* (adj.) 11.5% 8.8 -2.7pp 11.0% 7.2% -3.8pp
Net profit (adj.) 162.7 120.3 -26.1% 54.3 31.1 -42.7%
Earnings per share* (adj.) 1.24 0.92 -25.8% 0.41 0.24 -41.5%
in EUR
Equity ratio* 28.1% 31.4 3.3pp 28.1%5 31.4 3.3pp
Free cash flow 20.6 20.0 -2.9% -4.8 -26.2
-445.8%
Net financial debt 5.05 118.1 2,262. 5.05 118.1 2,262.
0% 0%
Employees* 9,697 10,477 8.0% 9,697 10,477 8.0%
Press photos can be downloaded from the Tognum website at www.tognum.com/
press/press-pictures/
Tognum
With its two business units, Engines and Onsite Energy, the Tognum Group is
one of the world's leading suppliers of engines and propulsion systems for
off-highway applications and of distributed power generation systems. These
products are based on diesel engines with up to 9,100 kilowatts (kW) power
output, gas engines up to 2,150 kW and gas turbines up to 45,000 kW.
The product portfolio of the Engines business unit comprises MTU engines
and propulsion systems for ships, for heavy land, rail and defense vehicles
and or the oil and gas industry. The Onsite Energy business unit supplies
distributed power generation systems carrying the MTU Onsite Energy brand.
These comprise diesel engines for emergency power, prime power and
continuous power, as well as cogeneration power plants based on gas engines
and gas turbines that generate both power and heat. Tognum's product
portfolio also features fuel-injection systems built by L'Orange.
In 2011, Tognum generated revenue of around EUR2.97 billion and employs
more than 10,000 people. Tognum has a global manufacturing, distribution
and service structure with 24 fully consolidated companies, more than 140
sales partners and over 500 authorized dealerships at approximately 1,200
locations. Since September 2011, Engine Holding GmbH, a joint venture
between Daimler AG and Rolls-Royce Group plc, has a majority holding in
Tognum.
Disclaimer
Forward-looking statements
This release contains forward-looking statements based on assumptions,
forecasts and estimates made by Tognum's executive board of management.
Although we assume that the assumptions, forecasts and estimates forming
the basis for these forward-looking statements are realistic, we cannot
guarantee that they will prove to be correct in the future. Assumptions,
forecasts and estimates may entail risks and uncertainties which may cause
actual results to differ considerably from those included in
forward-looking statements. Factors which may result in such discrepancies
include, among other things, changes in the economic and business
environment, fluctuations in exchange and interest rates, the introduction
of competing products, lack of acceptance for new products or services and
changes in corporate strategy. Tognum undertakes no obligation to update
and/or to correct and/or to confirm forward-looking statements or to
release publicly any updates or corrections to any forward-looking
statements in order to reflect events or circumstances which occur after
the date of this release.
Contact:
Investors&Analysts contact:
IR Team
ir(at)tognum.com
+49 (0)7541-90 3318
Media contact:
PR Team
pr(at)tognum.com
+49 (0)7541-90 3989
End of Corporate News
---------------------------------------------------------------------
08.11.2012 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: Tognum AG
Maybachplatz 1
88045 Friedrichshafen
Germany
Phone: +49 (0)7541 90 3318
Fax: +49 (0)7541 90 90 3318
E-mail: ir(at)tognum.com
Internet: http://www.tognum.de
ISIN: DE000A0N4P43
WKN: A0N4P4
Indices: CDAX, Classic All Share, Prime All Share
Listed: Regulierter Markt in Frankfurt(Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
191992 08.11.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 08.11.2012 - 07:31 Uhr
Sprache: Deutsch
News-ID 200862
Anzahl Zeichen: 14190
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 199 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Tognum confirms forecast for 2012 at the end of the first nine months"
steht unter der journalistisch-redaktionellen Verantwortung von
Tognum AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
