DGAP-News: HOMAG Group able to significantly improve earnings
(firmenpresse) - DGAP-News: Homag Group AG / Key word(s): Quarter Results
HOMAG Group able to significantly improve earnings
13.11.2012 / 07:04
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HOMAG Group able to significantly improve earnings
- Operative EBITDA rises by 25 percent in the third quarter of 2012
- Sales revenue forecast for 2012 slightly increased
in EUR million Q3 2012 Q3 2011 ChangeSchopfloch, November 13, 2012. HOMAG Group, the world's leading
Order intake 124.9 129.0 -3.2%
Sales revenue 195.5 204.6 -4.4%
Operative EBITDA 21.5 17.1 +25.1%
EBT 9.9 6.0 +64.1%
Net profit for the period (after non- 5.7 2.7 +106.8%
controlling interests)
manufacturer for plant and machinery for the woodworking industry and for
cabinet makers, performed better in sales revenue and order intake than the
industry in the third quarter of 2012 and was additionally able to
significantly improve earnings. While order intake from German
manufacturers of woodworking machinery was down 10 percent overall between
July and September, the order intake of EUR 124.9 million at the HOMAG
Group was only down 3.2 percent on the prior year (EUR 129.0 million). CEO
Dr. Markus Flik views this order situation as positive, especially in light
of the consistent management of earnings. 'We see this as a sign of
customers' great confidence in our products. We were able to generate this
order intake, although we paid special attention to the margin in the
acquisition of projects.'
In the third quarter of 2012, sales revenue decreased slightly to EUR 195.5
million (prior year: EUR 204.6 million). Adjusted for the respective share
allocable to the large-scale project Mekran, this results in a 2.6 percent
rise on the prior year.
The earnings figures of the HOMAG Group improved considerably in the
reporting quarter. CFO Hans-Dieter Schumacher sees this as confirmation of
the effectiveness of the measures taken to enhance operating performance
even in a difficult market environment. For instance, operative EBITDA
before employee participation expenses and before extraordinary expenses
increased by approximately 25 percent to EUR 21.5 million (prior year: EUR
17.1 million). This corresponds to an operative EBITDA margin of 11.0
percent (prior year: 8.4 percent). EBT after employee participation
expenses and after extraordinary expenses improved by around 64 percent to
EUR 9.9 million (prior year: EUR 6.0 million). At EUR 5.7 million, the net
profit for the period after non-controlling interests more than doubled
(prior year: EUR 2.7 million), and leads to earnings per share of EUR 0.36
(prior year: EUR 0.17).
Primarily on account of the continued realization of restructuring measures
at several subsidiaries, the Group headcount decreased to 5,085 employees
as of September 30, 2012 (prior year: 5,147 employees).
First to Third Quarter 2012
Sales revenue at the HOMAG Group decreased slightly in the first nine
months of 2012 to EUR 571.5 million (prior year: EUR 578.9 million).
Adjusted for the respective share allocable to the large-scale project
Mekran, this results in a risein sales revenue to EUR 561.8 million (prior
year: EUR 553.9 million). Order intake decreased to EUR 452.1 million in
the reporting period (prior year: EUR 468.1 million). By contrast, the
earnings situation in the HOMAG Group improved significantly between
January and September 2012. Operative EBITDA before employee participation
expenses and before extraordinary expenses climbed to EUR 52.4 million
(prior year: EUR 45.7 million). EBT after employee participation expenses
and after extraordinary expenses rose to EUR 18.2 million (prior year: EUR
11.0 million). Net profit for the period after non-controlling interests
was slightly above double at EUR 8.7 million (prior year: EUR 4.3 million),
leading to earnings per share of EUR 0.55 (prior year: EUR 0.27).
Outlook
The management board at the HOMAG Group now expects to slightly exceed
their previous sales revenue forecast for 2012 and intends to generate more
than EUR 750 million. Operative EBITDA before employee participation
expenses and before extraordinary expenses is still estimated at EUR 65
million. The net profit for the year should be above EUR 5 million. In
order intake, the HOMAG Group felt increasing uncertainty and a
corresponding reluctance to invest. 'Nevertheless we still aim to reach an
order intake that is roughly at the prior-year level, even though we are
aware that this appears ambitious from today's perspective,' explains CEO
Flik.
For the next fiscal year, 2013, the HOMAG Group forecasts an order intake
at least at the level of 2011 or to slightly surpass this figure and sales
revenue of around EUR 800 million. Due to the effects of restructuring and
cost savings measures, an operative EBITDA of at least EUR 70 million and a
net profit for the year of at least EUR 10 million are expected. These
forecasts are subject to the condition that there are no major disruptions
in the global economy.
- - - - - - - - - -
Background information
With its 15 specialized production companies, 21 group sales and service
companies and approximately 60 exclusive sales partners worldwide, HOMAG
Group AG's position as a complete system supplier is unique. Backed by a
workforce of some 5,100 employees worldwide, the Company sees itself as the
leading global manufacturer of plant and machinery for the woodworking and
wood materials processing industry and cabinet makers active in the
production of furniture and construction elements as well as timber frame
houses. The Group also offers its customers a wide range of services,
including software and consulting services. HOMAG Group AG shares have been
listed on the Prime Standard of the Frankfurt stock exchange since July 13,
2007.
Disclaimers
This press release contains certain statements relating to the future.
Future-oriented statements are all those statements that do not pertain to
historical facts and events or expressions pertaining to the future such as
'believes', 'estimates', 'assumes', 'forecasts', 'intend', 'may', 'will',
'should' or similar expressions. Such future-oriented statements are
subject to risks and uncertainty since they relate to future events and are
based on current assumptions of the Company, which may not occur in the
future or may not occur in the anticipated form. The Company points out
that such future-oriented statements do not guarantee the future; actual
results including the financial position and the profitability of the HOMAG
Group as well as the development of economic and regulatory framework
conditions may deviate significantly (and prove unfavorable) from what is
expressly or implicitly assumed or described in these statements. Even if
the actual results of the HOMAG Group including the financial position and
profitability as well as the economic and regulatory framework conditions
should coincide with the future-oriented statements in this announcement,
it cannot be guaranteed that the same will hold true in the future.
Information:
HOMAG Group AG
Investor Relations and Corporate Communications
Kai Knitter
Phone: +49 7443 13-2461
kai.knitter(at)homag-group.com
www.homag-group.com
End of Corporate News
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13.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Homag Group AG
Homagstr. 3-5
72296 Schopfloch
Germany
Phone: +49 (0)7443 / 13 - 0
Fax: +49 (0)7443 / 13 - 2300
E-mail: info(at)homag-group.com
Internet: www.homag-group.com
ISIN: DE0005297204
WKN: 529720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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