DGAP-News: Deufol AG: Third quarter shows significant sales and earnings increase
(firmenpresse) - DGAP-News: Deufol Aktiengesellschaft / Key word(s): Quarter Results
Deufol AG: Third quarter shows significant sales and earnings increase
13.11.2012 / 11:12
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Deufol AG: Third quarter shows significant sales and earnings increase
- Sales in Q3 EUR 90.5 million (+ 13.5 %), after nine months EUR 248.5
million (+ 7.2 %)
- Adjusted EBITA (after one-off expenses) in Q3 EUR 4.0 million (+ 42.8
%),after nine months EUR 9.2 million (+ 29 %)
- EBITA from continuing operations in Q3 EUR 3.5 million (+ 25.4)after
nine months EUR 6.0 million (- 23.5 %)
- Operating cash flow in Q3 EUR 4.6 million (previous year EUR 0.2
million)after nine months EUR 10.3 million (previous year EUR 4.5
million)
Hofheim, November 13, 2012
Sales in the third quarter up 13.5 %
In a strong third quarter, sales amounted to EUR 90.5 million. This
represents growth of 13.5 % on the same period in the previous year. The
sales boost which was already apparent in the first half-year (3.9 %) has
thus picked up.
Cumulative sales in the first nine months of 2012 were at EUR 248.5 million
significantly higher (7.2 %) than in the same period in the previous year.
In Germany, at EUR 134.4 million, sales were 4.2 % higher than in the
previous year. In the Rest of Europe, sales declined by 4.2 % to EUR 62.3
million. In the USA / Rest of the World, sales were significantly higher
than in the previous year, at EUR 51.5 million, a rise of 37.0 %.
Adjusted operating result after nine months 29 % above previous year
The third-quarter operating result (EBITA) amounted to EUR 3.5 million
(previous year: EUR 2.8 million). This corresponds to an improvement of
25.4 %. Third-quarter EBITA net of one-off expenses of EUR 0.5 million
amounted to EUR 4.0 million, an increase of 42.8 %. These one-off expenses
were almost entirely associated with the EUR 26 million action for damages
against former managers of the Company. This also includes the costs
associated with the launch of a European stock corporation (SE) and the
registered shares.
EBITA net of cumulative one-off expenses of EUR 3.14 million amounted to
EUR 9.17 million and thus clearly exceeded the figure for the previous year
of EUR 7.88 million. The unadjusted EBITA for the first nine months of 2012
was EUR 6.03 million. Including a one-off effect in Belgium in the second
quarter of 2011 (release of liabilities to employees in the amount of EUR
0.78 million), the comparative operating basis amounted to EUR 7.10
million. Hence, the comparative operating result is around 29 % higher than
in the previous year.
The individual segments developed as follows in the first nine months of
the year: In Germany, we recorded a welcome increase in EBITA from EUR 3.84
million to EUR 5.80 million. This development reflects initial success for
the reorganization and integration measures launched by the Company. In the
Rest of Europe, EBITA declined by 24.8 % to EUR 4.02 million, mainly due to
the winding-down of the one-off effect in Belgium (see above). The USA /
Rest of the World segment realized a result of EUR 1.75 million (previous
year: EUR 0.57 million). The expansion of capacity in Data Packaging is now
bearing fruits here. The EBITA loss of Deufol AG (Holding) - which
accounted for most of the one-off expenses - was EUR 5.53 million (previous
year: EUR 1.85million) as a consequence of these one-off expenses.
Unadjusted earnings before taxes (EBT) in the first nine months of the year
were EUR 3.55 million (previous year: EUR 5.12 million). After income tax
expenses (EUR 1.893 million), the result from continuing operations is EUR
1.66 million, compared to EUR 3.13 million in the first nine months of
2011.
The discontinued operation 'Carton Business' in the USA led to a loss of
EUR 0.28 million (previous year: - EUR 0.47 million). The loss consists of
a current loss of EUR 0.03 million and the final measurement of the pension
commitment (- EUR 0.25 million). This means a result for the period of EUR
1.38 million (previous year: EUR 2.66 million).
After deduction of the profit shares of noncontrolling interests (EUR 0.36
million), a net profit of EUR 1.01 million (previous year: profit of EUR
2.24 million) is attributable to the shareholders of Deufol AG. Earnings
per share in the first nine months were EUR 0.023 (previous year: EUR
0.051).
Financial position
In the first nine months, the cash flow provided by operating activities
amounted to EUR 10.3 million and was thus significantly higher than the
level in the previous year (EUR 4.53 million).
The financial liabilities of the Deufol Group decreased in the first nine
months of the fiscal year by EUR 0.3 million to EUR 79.3 million. As cash
and financial receivables simultaneously decreased slightly
(- EUR 0.1 million), the net financial liabilities fell slightly less
strongly, by EUR 0.2 million, from EUR 57.9 million at the end of the year
to EUR 57.7 million.
Outlook - Sales Envisaged at Upper End of Planning
The planning for the 2012 fiscal year anticipated sales of between EUR 315
million and EUR 330 million and an operating result (EBITA) between EUR 12
million and EUR 14 million. Deufol AG now expects a volume of sales at the
upper end of this range and expects EBITA adjusted for one-off expenses to
fall within the forecast range. One-off expenses of up to EUR 4.5 million
are currently expected for this year.
Note:
The information above complements today's ad-hoc release. Unfortunately,
the tabular presentation of the original ad-hoc message is not working
technically at some online portals.
Please find the Interim Report III 2012 as well as today's ad-hoc release
(including all tables) on our homepage at http://www.deufol.com.
Contact:
Deufol AG
Claudia Ludwig
Johannes-Gutenberg-Strasse 3-5
65719 Hofheim (Wallau)
Tel.: +49 (6122) 50 1228
E-mail: Claudia.Ludwig(at)deufol.com
End of Corporate News
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Language: English
Company: Deufol Aktiengesellschaft
Johannes-Gutenberg-Straße 3-5
65719 Hofheim (Wallau)
Germany
Phone: +49 (6122) 50 1228
Fax: +49 (6122) 50 1300
E-mail: Claudia.Ludwig(at)deufol.com
Internet: www.deufol.com
ISIN: DE0005101505
WKN: 510150
Indices: CDAX, Classic All Share, DAXsector All Transportation&Logistics, DAXsector Transportation&Logistics,
DAXsubsector All Logistics, DAXsubsector Logistics, Prime
All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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192946 13.11.2012
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