DGAP-News: Schaltbau again grew profitably in 2012
(firmenpresse) - DGAP-News: Schaltbau Holding AG / Key word(s): Final Results
Schaltbau again grew profitably in 2012
14.03.2013 / 10:01
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Schaltbau again grew profitably in 2012
Munich, 14 March 2013 - In a somewhat overcast economic climate, in fiscal
year 2012 the Schaltbau Group succeeded in increasing sales revenue and
improving Group net profit compared with the previous year's figures, again
surpassing its own expectations at the same time. Preliminary figures
indicate that sales grew by 13.9% to total EUR 362.8 million for the full
year. At EUR 3.09, undiluted earnings per share were above Schaltbau's most
recent prediction. Adjusted to account for the 1:3 share split effective as
from 20 August 2012, earnings per share for fiscal year 2011 amounted to
EUR 3.13.
All segments of the Schaltbau Group contributed positively towards the
improved sales performance. Strong growth in the Door Systems for Railway
Vehicles product group in 2012 helped the Mobile Transportation Technology
segment moderately surpass its previous year's figures by 0.8% to report a
total of EUR 123.5 million. Sales performance was particularly dynamic for
the standardised BIDS systems and boarding systems. Business volumes in the
Stationary Transportation Technology segment were well above average and
sales rose sharply by 34.8% to total EUR 142.1 million. The excellent
figure was largely attributable to the Pintsch Tiefenbach Group, which was
consolidated for the first time in January 2012 and finished the year
convincingly to accomplish its annual target with very strong
fourth-quarter sales figures in line with budget. However, even without the
positive impact of consolidation, the Rail Infrastructure business field
showed remarkable growth. The Brake Systems business field also reported
sales increases. The Components segment profited in particular from the
high sales figures achieved in North American markets. Moreover, business
in both Russia and India took a pleasing upward turn. The recent reluctance
shown by investors on Chinese markets caused regional business volumes to
decline, although this development was positively influenced by exchange
rate effects. Despite this scenario, the segment produced a sales increase
of 7.5% to record EUR 97.2 million in 2012.
Strong demand in the fourth quarter again boosted the Schaltbau Group's
order-intake figures for fiscal year 2012 moderately above the previous
year's level. At EUR 372.3 million, the Group achieved 8.6% growth on the
total registered in 2011. The Group order book stood at EUR 229.8 million
at the end of fiscal year 2012, 16.4% up on the volume seen one year
earlier.
Group EBIT improved by 7.3% to reach EUR 29.5 million. The result is
influenced by exceptional factors relating to first-time consolidations,
acquisition-related expenses and upfront expenditure for both personnel and
research and development. The EBIT margin fell slightly to 8.1% of sales in
the year under report, compared with 8.6% in 2011.
Preliminary Group net profit for the year rose to EUR 22.2 million. The
previous year's result of EUR 21.7 million was positively impacted overall
by various opposing exceptional factors recorded in interest and investment
income. The profit attributable to shareholders of Schaltbau Holding AG
amounted to EUR 19.0 million (2011: EUR 18.7 million).
Despite an increase in the balance sheettotal, the equity ratio rose to
stand at 29.9% on the balance sheet date (2011: 27.9%). Due to a
significant rise in working capital resulting from brisk sales in the
fourth quarter 2012 as well as higher order-book figures, Group net bank
liabilities amounted to EUR 45.0 million (2011: EUR 27.4 million). Cash
flow from operating activities decreased by EUR 18.6 million to EUR 7.0
million in 2012 (2011: EUR 25.6 million). The decline is primarily a result
of the increase in working capital (build-up of inventories and trade
receivables).
In view of the good earnings performance in fiscal year 2012 and the
continued positive outlook for the future of the Schaltbau Group, the
Executive Board intends to put forward a proposal for the appropriation of
profit to the Supervisory Board to pay a dividend of EUR 0.77 (2011: EUR
0.60). After displaying good business performance at the beginning of the
current year, the Schaltbau Group expects sales to climb to around EUR 374
million in 2013. The year will again be slightly burdened by upfront
expenditure for the additional personnel needed for the Schaltbau Group to
continue treading its successful path of growth. The Executive Board is
confident of achieving the minimum target of EBIT totalling EUR 32.8
million stated in its forecast last November.
Group key financial figures for the fiscal years 2011 and 2012:
Change in Change*Proposal to AGM
2012 2011 EUR m. in %
Order intake EUR m. 372.3 342.8 29.5 8.6
Order book EUR m. 229.8 197.4 32.4 16.4
Sales EUR m. 362.8 318.4 44.4 13.9
EBIT EUR m. 29.5 27.5 2.0 7.3
Group net profit EUR m. 22.2 21.7 0.5 2.3
Profit attributable to
shareholders of AG EUR m. 19.0 18.7 0.3 1.6
Earnings per share
(undiluted) EUR 3.09 3.13** -0.04 -1.3
Dividend EUR 0.77* 0.60** 0.17 28.3
Group equity EUR m. 76.5 59.5 17.0 28.6
Equity ratio % 29.9 27.9
Net bank liabilities EUR m. 45.0 27.4 17.6 64.2
Cash flow from
operating activities EUR m. 7.0 25.6 -18.6 -72.6
**Adapted in line with the re-division of share capital implemented on 20
August 2012
About Schaltbau:
With annual sales of more than EUR 360 million and a workforce of around
2,000 employees, the Schaltbau Group is one of the leading suppliers of
components and systems in the field of transportation technology and the
capital goods industry. The enterprise supplies complete level crossing
systems, shunting and signals technology, door systems for buses and
trains, industrial braking systems for container cranes and wind power
plants and also high- and low-voltage components for railway vehicles. Its
innovative and future-oriented products make Schaltbau a key business
partner in the fields of transportation technology and specific industrial
applications.
End of Corporate News
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Language: English
Company: SchaltbauHolding AG
Hollerithstraße 5
81829 München
Germany
Phone: 089 - 93005 - 209
Fax: 089 - 93005 - 318
E-mail: bloch(at)schaltbau.de
Internet: www.schaltbau.de
ISIN: DE0007170300, DE000A0D66Z2,
WKN: 717030, A0D66Z2,
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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