DGAP-News: Ekotechnika boosts half-year sales to EUR 70 million
(firmenpresse) - DGAP-News: Ekotechnika GmbH / Key word(s): Half Year Results
Ekotechnika boosts half-year sales to EUR 70 million
27.06.2013 / 12:07
---------------------------------------------------------------------
Ekotechnika boosts half-year sales to EUR 70 million
- Strong increase in sales in the traditionally weaker first half-year
(1 October 2012 - 31 March 2013)
- Earnings before interest and taxes (EBIT) of EUR 2.9 million (+22%)
- Negative net result due to seasonal inventory build-up
Walldorf, 27 June 2013 - Ekotechnika GmbH, the German holding company of
Russia's largest dealer of international agricultural machinery, the
Ekoniva-Technika Group, increased its sales revenues significantly in the
first six months of 2012/13 (31 March). Revenues climbed by 46% to EUR 69.8
million. Reasons for the sharp rise in sales included better market
penetration in the sales territory as well as good operating conditions
thanks to persistently high prices for agricultural products. The sale of
agricultural machinery accounted for approximately 85% of the total
revenues. Revenues of approx. EUR 8.6 million were generated from the sale
of spare parts, while the Service and Other Revenues segment contributed
about EUR 2.1 million. The 50% increase in service revenues reflects the
growing importance of this business segment, which is characterised by high
margins.
At EUR 2.9 million, the Group's earnings before interest and taxes (EBIT)
were up by 22% on the prior year period. Due to seasonal factors, the net
result for the first six months remained negative at EUR -4.6 million
(previous year: EUR 0.6 million). The moderately positive result of the
previous year is primarily attributable to exchange rate effects. In the
Russian agricultural machinery trading sector, the period from October to
March is characterised by a build-up of inventories for weather-related
reasons. These inventories are then sold in the second half of the fiscal
year starting April. This year, business picked up later than usually due
to the long winter. In spite of the negative net result the operating cash
flow was clearly positive at EUR 16.6 million as of the reporting date.
Says Wolfgang Bläsi, Managing Director of Ekotechnika GmbH: 'The framework
conditions for the agricultural machinery business in Russia will remain
positive. The EUR 60 million bond issue in April has optimised our
financing structure and helps us accelerate our growth through the opening
of new locations and the expansion of our spare parts and service
activities.'
The ongoing modernisation of Russia's agricultural sector and the
relatively high producer prices and, hence, farmers' higher incomes will
continue to be the main growth drivers for Ekotechnika this year. The
company primarily sells products of the John Deere brand, the world's No. 1
in agricultural machinery, which has only recently announced a record
result for the second quarter (30 April). The US world market leader
accounted for approximately 60% of Ekotechnika's 2012/2013 half-year sales.
The German Engineering Federation (VDMA) expects the global output of
agricultural machinery to increase by 6% to EUR 96 billion in 2013. Being
the largest territorial state in the world, Russia is considered by
international manufacturers to be one of the markets with the greatest
potential.
About Ekotechnika
Walldorf-based Ekotechnika GmbH is the German holding company of theEkoniva-Technika Group, the largest distributor of agriculture equipment in
Russia. The company's single most important supplier is John Deere&Co.,
the world's leading manufacturer in this field. In addition, Ekotechnika
sells equipment from another 11 market-leading manufacturers. Its main
business is in selling new equipment such as tractors but also milking
equipment and precision farming technology. In addition, the company sells
spare parts and provides service and maintenance. Ekotechnika's founder and
main shareholder is Stefan Dürr, who has been active in the Russian farming
sector since the late eighties and has been instrumental in its
modernisation over the past two decades. In 2011 the equipment business was
separated from the farming business, which now operates independently under
the name Ekosem-Agrar. Operating 12 locations in attractive Russian farming
regions, Ekotechnika today employs 625 people and generates sales of just
under EUR 170 million.
Contact
Ekotechnika GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf
P: +49 (0) 6227 3 58 59 60
E: presse(at)ekotechnika.de
www.ekotechnika.de
Press / Investor Relations
Fabian Lorenz
IR.on AG
P: +49 (0) 221 9140 974
E: fabian.lorenz(at)ir-on.com
End of Corporate News
---------------------------------------------------------------------
27.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Ekotechnika GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0) 6227 3 58 59 60
E-mail: info(at)ekotechnika.de
Internet: www.ekotechnika.de
ISIN: DE000A1R1A18
WKN: A1R1A1
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart (bondm); Frankfurt in Open Market
End of News DGAP News-Service
---------------------------------------------------------------------
218470 27.06.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.06.2013 - 12:07 Uhr
Sprache: Deutsch
News-ID 273809
Anzahl Zeichen: 8536
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 322 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Ekotechnika boosts half-year sales to EUR 70 million"
steht unter der journalistisch-redaktionellen Verantwortung von
Ekotechnika GmbH (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
