DGAP-News: Schaltbau Group maintains pace of growth in third quarter and affirms earnings target
(firmenpresse) - DGAP-News: Schaltbau Holding AG / Key word(s): Quarter Results
Schaltbau Group maintains pace of growth in third quarter and affirms
earnings target
31.10.2013 / 09:15
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Schaltbau Group maintains pace of growth in third quarter and affirms
earnings target
- Growth stepped up: Nine-month sales at EUR 295.9 million (+10.9%) -
order intake up by 5.3%
- Earnings improved: EBIT grows by 30.1% to EUR 27.4 million - earnings
per share rise to EUR 2.67
- Targets within reach: Schaltbau affirms earnings target of EUR 3.24 per
share
Munich, 31 October 2013 - The Schaltbau Group reported third-quarter sales
growth of 12.7 per cent to record EUR 102.2 million and additionally
stepped up its rate of growth compared with the first half of 2013.
According to preliminary figures, compared with the first nine months of
2012, sales rose by 10.9 per cent to total EUR 295.9 million for the
period. Similar to the first six months of the year, the Mobile
Transportation Technology segment was the driving force behind this growth,
particularly due to increased sales volume in the Door Systems for Railway
Vehicles product group. The Stationary Transportation Technology segment
also reported good growth, mainly due to the continuing brisk demand for
Brake Systems. Higher earnings in the Components segment were mainly
attributable to series deliveries of railway systems to Russia.
Order intake for the Schaltbau Group increased by 5.3 per cent to reach EUR
299.5 million. The volume of incoming orders rose by 4.1 per cent in the
third quarter to total EUR 86.2 million. Isolated losses caused by project
delays in the Rail Infrastructure business field and the investment backlog
in the Chinese rail sector were more than compensated by the high order
volume in the Mobile Transportation Technology segment. Schaltbau's order
book totalled EUR232.7 million at 30 September, therefore guaranteeing a
profitable rate of production capacity utilisation for the remainder of the
year and well into 2014.
Operating profit (EBIT) climbed by 30.1 per cent year-on-year to total EUR
27.4 million at 30 September 2013. The significantly above-average growth
in relation to sales is due to the improved cost of materials ratio,
reflecting falling prices for raw materials, as well as sales mix effects.
At 9.3 per cent, the EBIT margin not only surpasses the previous year's
figure (7.9 per cent), but is also slightly up on the six-month figure (9.1
per cent). Despite the normalisation of the tax rate, earnings per share
rose from EUR 0.76 to EUR 0.96 in the third quarter and from EUR 2.05 to
EUR 2.67 year-on-year.
'Thus our earnings target of EUR 3.24 per share for 2013 is now well within
reach,' said Dr Jürgen H. Cammann, spokesman of the Schaltbau Group
Executive Board.
The Group Interim Report as at 30 September 2013 will be published on 7
November.
End of Corporate News
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31.10.2013 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.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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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