DGAP-News: CENTROTEC Sustainable AG: CENTROTEC maintains positive business performance in a difficult market environment - substantial improvement in full-year earnings expected
(firmenpresse) - DGAP-News: CENTROTEC Sustainable AG / Key word(s): Quarter Results
CENTROTEC Sustainable AG: CENTROTEC maintains positive business
performance in a difficult market environment - substantial
improvement in full-year earnings expected
13.11.2012 / 07:30
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Brilon, November 13, 2012. The SDAX-listed company CENTROTEC Sustainable
AG, Brilon, increased its revenue by 2.7 % in the first nine months of the
current financial year to EUR 388.4 million (previous year EUR 378.1
million). The third-quarter operating result (EBIT) of EUR 14.9 million was
the highest ever quarterly EBIT in the company's history. Based on the
positive development in earnings, net borrowings of EUR 54.7 million at the
end of the quarter were significantly down on the position one year ago
(previous year EUR 88.7 million).
'This quarterly result was achieved amid very difficult market conditions
in most export markets,' remarked Gert-Jan Huisman, Management Board
Chairman of CENTROTEC Sustainable AG. 'We are currently seeing construction
activity at an all-time low in Europe, a reluctance among consumers to
invest and falling budgets for state stimulus packages. Against this
backdrop, our performance confirms the strong market position of the group
companies and our focus on energy efficiency in buildings.'
Growth has been driven mainly by the 6.4 % rise in the revenue of the
biggest corporate segment, Climate Systems, to EUR 283.1 million (previous
year EUR 266.1 million). The second core segment Gas Flue Systems
experienced a 6.8 % fall in revenue to EUR 75.7 million (previous year EUR
81.3 million) following on from the restructuring of its portfolio in 2011,
but the performance in its core product areas was positive.
The operating result improved at a faster rate than revenue thanks to
substantially higher earnings in all segments. EBITDA was increased by 34.5
% to EUR 39.0 million (previous year EUR 29.0 million). EBIT improved to
EUR 23.9 million (previous year EUR 12.4 million incl. special write-downs
from the restructuring of the portfolio). The improvements in the operating
result that take it back up to the level of the previous record-breaking
year of 2010 are attributable to the successful restructuring of the Gas
Flue Systems segment, the ongoing optimisation of products, processes and
costs, and lower commodity prices. Earnings per share (EPS) at operating
level climbed to EUR 0.74 (previous year EUR 0.24) thanks to the positive
earnings performance; when the positive net effects of the disposals of the
equity investments are taken into account, the adjusted EPS figure is EUR
0.87 (previous year EUR -0.73).
In a demanding overall economic environment, the revenue and earnings
achieved over the year to date show that full-year revenue for 2012 on a
par with the previous year and an operating result (EBIT) at the lower end
of the forecast bandwidth of EUR 35 to 40 million are attainable, thus
coming close to the previous record-breaking year of 2010.
CENTROTEC Sustainable AG
CENTROTEC Sustainable AG and its subsidiaries enjoy a presence in over 50
different countries. The principal group companies are Wolf, Brink Climate
Systems and Ned Air in the Climate Systems segment, which have specialised
in heating, climate control and ventilation technology e.g. in the form of
solar thermal systems, CHP units and residential ventilation systems with
heat recovery, as well as Ubbink and Centrotherm, which have focused on gas
flue and air ducting systems in the Gas Flue Systems segment. CENTROTEC is
consequently Europe's only listed full-service provider of heating and
climate control technology, solar thermal systems and energy-saving
solutions for buildings.
CENTROTEC Sustainable AG, Am Patbergschen Dorn 9, D-59929 Brilon, Germany
ISIN: DE0005407506, WKN: 540750, home stock exchange: Frankfurt am Main
Indices: SDAX, Prime All Share, Prime Industrial
For further information, contact:
CENTROTEC Sustainable AG, Dr Frank Rose, Tel: +49 (0)2961 96631-104 or
MetaCom Corporate Communications GmbH, Georg Biekehör, Tel: +49 (0) 6181
98280-30
End of Corporate News
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13.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: CENTROTEC Sustainable AG
Am Patbergschen Dorn 9
59929 Brilon
Germany
Phone: +49 (0)2961 96631-0
Fax: +49 (0)2961 96631-100
E-mail: ir(at)centrotec.de
Internet: www.centrotec.de
ISIN: DE0005407506
WKN: 540750
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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192871 13.11.2012
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Datum: 13.11.2012 - 07:30 Uhr
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