DGAP-News: China BPIC Surveying Instruments AG: China BPIC Surveying Instruments AG: Excellent financial performance of FY 2012 and positive outlook for 2013
(firmenpresse) - DGAP-News: China BPIC Surveying Instruments AG / Key word(s): Final
Results
China BPIC Surveying Instruments AG: China BPIC Surveying Instruments
AG: Excellent financial performance of FY 2012 and positive outlook
for 2013
09.09.2013 / 19:51
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CORPORATE NEWS
China BPIC Surveying Instruments AG: Excellent financial performance of FY
2012 and positive outlook for 2013
- Revenue growth of 71.7% to EUR 7.18 million
- Gross profit up 74.9% to EUR 4.07 million with an improved gross profit
margin of 56.7%
- Profit before tax up 48.9% to EUR 3.48 million with profit before tax
margin of 48.5%
- Net profit up 39.8% increase to EUR 2.53 million with net profit margin
of 35.2%
Frankfurt a. Main, 9 September 2013 - After the successful listing on 20
November 2012, China BPIC Surveying Instruments AG ('BPIC AG or BPIC'), one
of the leading Chinese surveying instruments manufacturers, presents its
first annual report today. The outstanding results of the FY 2012 reflect
BPIC's successful business development as previously indicated by the
preliminary figures. For 2013, the management expects continuous growth,
both in revenues and earnings.
In 2012, BPIC's major business segments i.e. 'BPIC' Branded Product
Business showed a very strong growth by doubling the sales of 2011, mainly
driven by the substantial increase in sales volume of total station, the
key surveying instrument used in the surveying, construction and
engineering industry. While the sales from ODM Business (providing of
designing and manufacturing service of whole surveying instruments
equipment and component systems to other surveying instruments companies)
remained flat over the period. The positive development of 'BPIC' Branded
Product Business led to total revenues of EUR 7.18 million, which results
in an increase of 71.7% (2011: EUR 4.18 million). The company's gross
profit is up 74.9% to EUR 4.07 million corresponding to an improved gross
profit margin of 56.7% (2011: EUR 2.33 million; 55.7%). The improvement in
overall gross profit margin was due to the increased sales of 'BPIC'
Branded Product Business, which is more profitable than ODM Business, and
the reduction of overall production cost per unit given the fact that the
selling price of all 'BPIC' branded products kept unchanged in the
reporting period. According to the final figures, BPIC's profit before tax
increased by 48.9% to EUR 3.48 million (2011: EUR 2.34 million) with a
profit before tax margin of 48.5% (2011: 56.0%). BPIC's net profit
increased by 39.8% to EUR 2.53 million (2011: EUR 1.81 million) with a net
profit margin of 35.2% (2011: 43.3%). The decrease in profit before tax
margin and net profit margin in 2012 compared to 2011 was mainly due to the
additional administration fees, consultation service fees and audit fees
connected with the public listing of BPIC.
Adjusted by the non-recurring public listing costs, BPIC's profit before
tax margin and net profit margin in 2012 improved to 51.2% and 37.8%.
Mr. Wei XIE, the founder, Chairman and General Manager of BPIC AG, comments
on the final figures of BPIC: 'We are very proud of our last year's
performance. The excellent development of our 'BPIC' Branded Product
Business last year has confirmedthe successful change of our strategic
focus towards our own branded products.'
BPIC remains upbeat on 2013 and the next years
Mr. XIE is also very confident for the current financial year: 'In 2013,
the surveying instrument market in China builds on the growth trend
following the recovery of the second half of 2012 and continues to make
great strides. We consider the second half of this year a good timing to be
more aggressive in terms of our global expansion. As our next step, we will
participate in this year's Intergeo in Essen in October, to make use of
this largest industry platform to showcase our products to all buyers
coming from all over the world. We are also having negotiations with a
number of international/European players about potential cooperation in
different areas to lower our risks and to speed up our penetration into the
international market. Moreover, we expect to launch a number of new
products every year. With all the efforts we have made and we plan to make,
we believe we have laid a good foundation for our growth not only for this
year but for many years to come.'
As of today, the full 2012 annual report is available for download from the
company's website at http://www.bpicsurvey.com in the investor relations
section.
About China BPIC Surveying Instruments AG (CSY)
BPIC AG is principally engaged in designing, manufacturing and selling of
surveying instruments under its own 'BPIC' brand in China. BPIC sells 4
types of products with a total of 6 different models, namely, Electronic
Total Station, Electronic Theodolite (including 2 models), Laser Electronic
Theodolite and Construction Cross-Liner Laser (including 2 models) to
domestic and overseas construction and engineering companies through
distributers. BPIC also takes orders from other surveying instruments
manufacturers in China including the designing and manufacturing of whole
surveying instruments equipment and component systems, sub-contracting
components manufacturing to third parties on behalf of customers, selling
of software etc. in accordance with the specification and requirements from
clients. BPIC's production facilities are located in Changping District,
Beijing, China.
End of Corporate News
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Language: English
Company: China BPIC Surveying Instruments AG
Schopenstehl 22
20095 Hamburg
Germany
E-mail: info(at)bpicsurvey.com
Internet: www.bpicsurvey.com
ISIN: DE000A1PG508
Listed: Freiverkehr in Stuttgart; Frankfurt in Open Market (Entry
Standard)
End of News DGAP News-Service
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