DGAP-News: Schaltbau Group celebrated another record-breaking year in 2012 - Forecast for 2013 raised after good start - outlook remains positive
(firmenpresse) - DGAP-News: Schaltbau Holding AG / Key word(s): Final Results/Quarter
Results
Schaltbau Group celebrated another record-breaking year in 2012 -
Forecast for 2013 raised after good start - outlook remains positive
23.04.2013 / 09:45
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- Schaltbau Group celebrated another record-breaking year in 2012
- Forecast for 2013 raised after good start - outlook remains positive
Munich, 23 April 2013 - The Schaltbau Group continued on its firm upward
trend throughout fiscal year 2012. At EUR 372.3 million, order intake
volume was up by 8.6% on the figure recorded one year earlier (2011: EUR
342.8 million). Sales rose by 13.9% to total EUR 362.8 million (2011: EUR
318.4 million) and still surpassed the previous year's level, even without
the positive effect gained from the first-time consolidation of the Pintsch
Tiefenbach Group. The Group's dynamic sales performance had a highly
positive impact on earnings, said Dr Jürgen Cammann, Executive Board
Spokesman of Schaltbau Holding AG at the recent annual accounts press
conference in Munich. Despite the considerable upfront expenditure needed
to drive future growth, operating profit (EBIT) improved by 7.3% to EUR
29.5 million (2011: EUR 27.5 million), again reaching a new record level.
The EBIT margin stood at 8.1%.
Group net profit for the 12-month period under report grew by EUR 0.5
million to reach EUR 22.2 million. Dr Cammann pointed out that the previous
year's result should be seen in the light of the positive overall impact of
a variety of opposing exceptional factors recorded in interest and
investment income. The profit attributable to shareholders of Schaltbau
Holding AG amounted to EUR 19.0 million. At EUR 3.09, earnings per share
were above those predicted in November 2011. A dividend payment of EUR 0.77
will be proposed at the Annual General Meeting. Adjusted for the 1:3 share
split carried out on 20 August 2012, the previous year's dividend amounted
to EUR 0.60.
The Group's renewed healthy earnings performance was also positively
reflected in balance sheet ratios. Despite the increase in the balance
sheet total, the Group equity ratio improved by a further 2.0 percentage
points to 29.9%. Brisk sales in the fourth quarter and the first-time
consolidation of new companies caused working capital to increase
significantly from EUR 71.8 million to EUR 105.6 million. Capital employed
also climbed sharply by around EUR 40.5 million to total EUR 186.3 million.
Consequently, the return on capital employed (ROCE) went down by 3.1
percentage points to 15.8%. Group net bank liabilities amounted to EUR 45.0
million (2011: EUR 27.4 million). The debt ratio therefore increased from
0.8 one year earlier to 1.2.
Dr Cammann sees the continued commercial success of the Schaltbau Group as
fundamentally due to its strategy of well-balanced diversification of
product innovations covering a broad range of customer groups and regions.
With the takeover of the Pintsch Tiefenbach Group at the beginning of the
year we significantly bolstered our market position as supplier of
signalling systems for main and branch lines, both in Germany and abroad.
The integration in the Pintsch Bamag Group went according to plan, enabling
Pintsch Tiefenbach to make the desired positive contribution to Schaltbau
Group earnings in 2012. Taking over the operations of Werner Kircher
Elektro- und Feinmechanischer Gerätebau as from September 2012 additionally
helped broaden the Group's range of products and services.
'We are also making good progress internationally,' emphasised Dr Cammann.
In South Korea, Group subsidiary Bode Korea was established in 2011 and has
already acquired an initial project in the high-speed sector. With its
innovative Platform Screen Door systems, Pintsch Bamag has gained a
foothold on the Brazilian market, thereby creating new opportunities for
growth in South America. In both North America and Russia the Schaltbau
Group has reported healthy growth rates in its Components segment, and in
China strategically compensated for reduced demand in the rail sector by
increasingly concentrating on the field of metro systems.
The Schaltbau Group has got off to a good start in 2013. Order intake
increased by 2.2% to EUR 107.8 million in the first quarter. The growing
volume of orders in the Components segment was particularly positive, said
Dr Cammann. The Stationary Transportation Technology segment profited from
continued strong growth in the field of Brake Systems. The Mobile
Transportation Technology segment has maintained the success of the
previous year. Due to further growth in incoming orders, the Group's
first-quarter sales rose from EUR 84.7 million one year earlier to EUR 95.3
million this year. Operating profit (EBIT) improved by EUR 2.4 million to
EUR 9.0 million. Group net profit for the period increased by EUR 1.8
million to EUR 6.3 million. The first-quarter profit attributable to
shareholders of Schaltbau Holding AG amounted to EUR 5.0 million (2012: EUR
3.7 million). On this sound basis, earnings per share for the quarter under
report amounted to EUR 0.81, as compared with EUR 0.60 for the same period
the previous year. The equity ratio stood at 28.4% (31 December 2012:
29.9%).
'These figures are based on a business performance that significantly
exceeded our previous expectations,' said Dr Cammann. 'Furthermore, we see
the outlook for the Schaltbau Group over the next few months as continuing
in the same positive vein,' he said, stressing the need for stable market
conditions to achieve good results. In view of its pleasing performance,
the Group's forecast for the full year was raised in April and sales are
now expected to reach the threshold of EUR 390 million in 2013. Group EBIT
is now predicted to reach EUR 35.9 million and Group net profit for the
year is forecast at EUR 23.5 million. Earnings per share should accordingly
total EUR 3.24. Dr Cammann also views developments in the global railway
industry over the coming years with optimism. The CEO will be looking to
make consistent use of any opportunities that arise in the course of
ongoing consolidation in the sector and intends to continue purposefully
expanding the Schaltbau Group, but without taking excessive or incalculable
risks.
End of Corporate News
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Language: English
Company: Schaltbau Holding 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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207997 23.04.2013
Themen in dieser Pressemitteilung:
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forecast-for-2013-raised-after-good-start
outlook-remains-positive
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Datum: 23.04.2013 - 09:45 Uhr
Sprache: Deutsch
News-ID 251614
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